Stakeholder Relationship Management
10 Pages2448 Words91 Views
Added on 2021-01-02
Stakeholder Relationship Management
Added on 2021-01-02
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STAKEHOLDER ANDACCOUNT MANAGEMENT
TABLE OF CONTENTSPART A...........................................................................................................................................1Outlining aim of initiative and overview of NACWS 2018 event..............................................1PART B: Stakeholder analysis.........................................................................................................1Explaining concept of stakeholder theory...................................................................................1Identifying minimum of five key stakeholders of NAWCS and describing stakeholders needsand interest..................................................................................................................................2Explaining Power/Interest matrix...............................................................................................3Carrying stakeholder analysis with application of Power/Interest matrix and influence onNAWCS event.............................................................................................................................3PART C............................................................................................................................................4Investigating importance of relationship marketing...................................................................4Explanation of importance of organizers adopting relationship marketing approach with keysponsor the voice newspaper.......................................................................................................4Outlining examples which illustrate that organisers met or aimed to accomplish need ofstakeholders.................................................................................................................................5Importance of building trust and loyalty with all NACWS sponsors and examples how toattain it.........................................................................................................................................5REFERENCES................................................................................................................................8
PART AOutlining aim of initiative and overview of NACWS 2018 eventThis is the 4th Annual National African Caribbean wedding show which took place on 7thOctober 2018 as organised through MIH media. This is the fastest growing event along withorganiser of pop-up show which brings affordability and quality to savvy customer. Thiswedding and lifestyle show is place where one could find that waiting experience is trulyamazing. In the similar aspect, award winning vendors along with suppliers of first class givesgroom and brides with quality and peace of mind. Furthermore, carefully chosen and vettedwedding professionals would be there for answering the customer's questions, discussing ideasand helps for mapping vision of big day.NACWS 2018 is where brides of multi-cultural brides meet with multi cultural vendorsand ensures that nothing is lost in translation. One could spend day with vetted vendors alongwith amazing blend of exhibitors and gives wedding plan about unfair advantage. While forobserving the finishing touch at start of process of wedding planning, NACWS 2018 would givewhat one is looking for.PART B: Stakeholder analysisExplaining concept of stakeholder theoryStakeholder theory is conceptual framework of business ethics along with organizationalmanagement which would address ethical and moral values. This theory holds stakeholder ofcompany which considers about anyone is impacted through organization along with theirworkings. This theory gives suggestions that objective of business is for creating much valuewith possibilities of stakeholders. In the similar aspect, to attain success and to be sustainableover time, then executives must keep interests of suppliers, customers, employees, shareholdersand communities aligned and going in similar direction. That view is in opposition to long heldshareholder theory proposed through Milton Friedman in capitalism, the stakeholders a companymust care about its shareholders and bottom line. Generally, innovation keeps these interestaligned is very important compared to easy strategy of trading off stakeholders interest againsteach other. Henceforth, through managing for executives, stakeholders would also createpossible values for purpose of shareholders and other financiers as well.1
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