Museum of London: Corporate Governance, Trends, and Objectives Report

This report provides a comprehensive overview of the Museum of London, a charitable institution funded by various entities, including the London City Corporation and GLA. It details the museum's history, strategic objectives, and trends such as virtual reality and social justice. The report explores corporate governance, the roles of stakeholders, and their degree of interest using Mendelow's matrix. It examines how the museum aims to connect people with the experience of London, expand its audience, and improve sustainability through effective management and resource utilization. The analysis includes an examination of the museum's stakeholders, their interests, and the importance of managing their expectations effectively. The report also highlights the museum's initiatives to address social justice issues and improve its sustainability practices.

Museum of london

Table of Contents
INTRODUCTION...........................................................................................................................3
overview of museum of London.................................................................................................3
Strategic objectives of museum London ....................................................................................3
Trends which they have to follow are:........................................................................................4
Improving sustainability ............................................................................................................5
Corporate governance and Governed museum of London ........................................................6
Conclusion..................................................................................................................................6
Task 2...............................................................................................................................................6
Stakeholder .................................................................................................................................6
Stakeholders of museum of London...........................................................................................6
Degree of interest .......................................................................................................................7
Conclusion..................................................................................................................................9
Reference ........................................................................................................................................9
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
The museum of London is a charitable institution and its funds are coming from different
companies and individuals including the London city corporation and GLA. The charity
number of museum is 1139250. The museum of London describes the story of worlds
greatest city and the people of that city, from the ancient times to the present day. It is
located in the city of London. On London wall and it is next to the barbican centre and it is
sector of barbican complex which is created in 60's or 70's to reconstruct the damaged
operation from the explosive in that city. It is worried with the history of London and its
citizen all over the time. It is controlled by greater London authority. With above six
million objects this museum is the biggest collection museum in the world. In December
1976 museum was opened and it is sector of barbican estate.
Task
overview of the London’s Museum
The museum of the London is an charitable institution and its funds are coming from different
companies and individuals including the London city corporation and GLA. The charity number
of museum is 1139250. The museum of London describes the story of worlds greatest city and
the people of that city, from the ancient times to the present day. It is located in the city of
London near the wall it is near to the barbican centre and this is a part of barbican complex
which is created in 60's & 70's to rebuild the area which is damaged from the bomb in that city.
It is worried with the history of the London citizen throughout a time. It is controlled by greater
London authority. With more than 6 million objects this museum is an largest collection museum
in the world. that was opened in December 1976 and it is the part of barbican estate. The
museum design and innovative thinking behind that design is of two architects which were
'Philip Powell' and 'hidalgo moya'. The biggest investment is done on redevelopment of museum
in may 2010. Redesigning of museum is done by Wilkinson Eyre who is also architect in London
and tells the story about people of London from the 1666 to present day(Thompson., 2015).
Strategic objectives of museum London
Museum of London connects people with the real experience of London. Through all the
activities we contributed culture, education, economic and international force in London. They
have a brand which is 'We are London' it is aspiration and authority. The ahead years will be

amazing for the museum because they are handling two museums and already had taken the
biggest project in museum history, building a new museum in west Smithfield.
The five main objectives of the museum is:
11 Their aim is to reach more and more people. They want to increase their popularity
among more people or we can say to the whole world. Ambition of the museum is to
reach 5 million people according to the plan. Their aim is to grow their audience through
visiting websites and outreaching, and assure London's different make-up is better
reflected(Buckley and et.al., 2018).11 They want to be more popular and become better known through the world. Adopting
strategies through which they become more popular through whole London city and
outside the London city. They want to that their museum will comes first in people's
mind when they think about to know about London.11 Increase the potential of thinking and with the help of that plans how they will develop
their museum. Stretch the thinking ability and adopt something different for museum of
London through which people get attracted towards it. Their aim is to that people think
about London in unique different ways. Developing collection will give structure to the
future of museum.11 The best thing to do is attract school kids. With the help of school kids it will be helpful
in promoting their museum. Nowadays everyone is engaged with the social media and it
is the best platform to reach to more people. Connecting young people of London to their
city and each will contribute through social media.11 Prove everyone with the success they have to stand on their own feet and show the whole
city that they have the capability to develop with their own. Their aim is to increase in
self sustaining the museum which maximize the resources and use funds from public to
increase income.
Trends which they have to follow are:
From exhibitions and using of virtual reality change the way of issues by social justice are
addressed and these institutions finding new directions. There are some trends in the museum of
London.
Virtual reality

This thing has a great impact on museums. By adopting VR techniques because it is in trending
and popular. These gadgets help to experience a museum in different way and it should boost the
connection between museum and the visitor and virtual reality gives another path to forget those
connections. The use of VR will inspire people enough to take the interest in virtual reality.
Creative spaces
In a continuous attempt to use younger people in a hope of maintaining people for years to come,
museums which are under renovation have clutch the importance of giving creative spaces for
communal and educational events.
Instagram moment
Visitors in the museums are if 60 years old then your museum will face engagement and
attendance issues continuously. According to the nature of low, older people are decreasing and
museums have to focus on younger visitors if they want to grow. Continual growth can easily
happen by intentionally creating ''Instagram moments'' because these experiences are worth to
share on social media.
Pop up exhibitions
From food and fashion to fitness and wellness, the concept of pop up has filtered a number of
industries in some recent years. There is a surprise that museums throughout the world have
chosen to commence on this trend in attempt to demonstrate exhibition in various ways when
they were reaching to the new audience and opening up conversation about modern issues.
Pop up exhibition provide the ability to museum for reacting to the present topics that will
concern everyone in a faster time frame than normal exhibitions and with a stronger
focus(Gaimster., 2018).
Social justice
In the past, museums begin as stronger reminder in the darker times in history. Museums are now
building exhibitions that focus on, and so it will create a communication surrounding, unfair
treatment is happening around the world. It is a project about assuring that our ability to develop
understanding for the condition or pain of others is not forgotten. It uses temporary exhibitions as
to tackle modern issues, several museums which are opened recently have social justice as
overall theme(Callaghan., 2018).
Improving sustainability
There plans to contribute in improving London's museum and to reduce the impact the plan is:

Managing the operations of museum to a high standard.
Keep in mind that awareness of our staff and visitors is important and promote them.
Find different ways to make change and improvement in our buildings.
Consider our acquisition.
Monitor or look for main areas of consumption and report them if there is any problem is
occurring.
Corporate governance and Governed museum of London
It is the system through which organisation are supervised and controlled. Board of directors are
responsible for their companies. Museum of London has role of appointing directors and the
auditors this will give satisfaction that an suitable place is governance structure.
There are total 19 governors of the museum which is appointed by greater London authority.
They are responsible for managing the management and accountability of the museum.
Conclusion
This brief report is about the museum of London its history and how old it is and whole overview
of museum is explained above. Then the strategic objectives of the museum that what plans they
have to adopt and which trends they follow. Then the key points of improving the sustainability
of museum of London. How organisation contribute to operate the museum financially. Then the
overview about the corporate governance which is required and how it governs the museum of
London and objectives for good corporate practice(Schultze and Trueb., 2018).
Task 2
Stakeholder
A stakeholder is a person or it can be social group, organization or society at large that has a
stake in the business. It can be internal as well as external to the organization. A stake is a
essential interest in the business or the activities of the business. It includes property interest and
ownership, legal interests and obligations, and moral rights. In easy language it is the person with
an interest or responsible in something, especially a business(Picton, Quirke and Roberts., 2018).
Stakeholders of museum of London.
They are the people, constituencies, institutions which are affected by a museum and their plans,
projects. Direct and indirect interests and their influence on the museum. Museum looks for its
audience, board partners, volunteers, competitors and community decision makers as a
stakeholder, its needs them.

Museum of London shared their understanding that who is engaging and how it is critical to
making important progress towards the mission of the museum and being considered and value
its resources for its community. A inclusive stakeholder approach to museum planning which
serves as a platform for engagement of stakeholders through the organization. Supports a
museums lasting interest around its community and people by:
Putting people and the interest of people in front and center with the interests of museum.
Combine internal stakeholders which are board, staff, volunteers and external ones are gate
keepers partners etc.
Highlighting the main contribution of multiple views and interests towards the planned goals
which are shared(Cbe., 2018).
Creating stronger connections between community and the museum, growing the base of
museum and its reach, impact and resources.
Degree of interest
Mendelow's matrix is a tool which is used by an organisation to acknowledge the attitude of their
stakeholders at the beginning of a project or when they are planning for strategic objectives.
Purpose of mendelow's matrix is to identify the stakeholder priority audiences and after the work
out plan to manage communications through keeping everyone satisfied. When planning for the
communication, museum can analyse audiences of stakeholders to targeted with using this
tool(Hillson., 2016).
Quadrants
Important things might occur because it will cause stakeholders to suddenly move between the
quadrant. Museum of London might accidentally break a regular which cause the administrative
body to move to high power, low interest to high power, high interest. Then it required a
different way of communicating and managing with these stakeholders. The media will also
move from low power, low interest, to low power, high interest. So it is worth to check more
than one time of your maps in event of changing the environment(Greenhall., 2018).
Level of interests
Create a map for stakeholders
It is totally based on interests and power and which allows organisation to identify the
stakeholders they are important, with high power and high interest which we need to manage
them closely, needs lots of time and resources. Keeping these stakeholders on side and informing

them is a priority on regular basis. Then these stakeholders are with low power and low interest
should be monitored and minimum effort putting in terms of money and time.(Cibois and et.al.,
2016).
Create an action plan
Position that museum have to identify to a stakeholder are:
Manage closely which high power and highly interested people and their aim is to engage fully
and putting more efforts to satisfy them.
Keep satisfied with High power but people are less interested because they have to put enough
work for the satisfaction of these people but not more and more that they become bored with
you.
Keep informed low power and highly interested people and talk to them to assure that there are
no major issues raising. These peoples can point out any section of museums where they find
that they need improvement and overlooked.
Monitor low power, less interested people which don't bore these stakeholders with their over
communication, keep eye on them or check that if their level of interest or power change.
Mapping your stakeholders early
This is very useful when you find that all stakeholders would impact the strategy of your
museum, campaigns of communication's or new antique thing in the museum launches at the
start of your project. By creating a mendelow's matrix museum will get easily identify the
priorities of stakeholder peoples(Ross and et.al., 2016).
Issues impact key stakeholders
Some impacts are described in regarding issues of stakeholders. It can be explain as a party who
affects, or it can be affected by the actions of the museums. Treatment consideration of
stakeholders who can surrounded by number of issues including system, reporting, policies and
engagement.
Lack in agreement can create problems in its own set up of stakeholders problems. This problem
mostly happen when group of stakeholders, for example volunteers have different set of a value
than the other stakeholders such as an management. There is problem in quality of service and
relationships and they are promoting the museum to get more clients and the lack of congruence
can cause to its own set of a problems because the priorities of other stakeholders are different.

Generational difference
It is one more challenge that occurs in museums and their size and type is the generational gap
and different motivations are creating problem because the previous generation has more
believe in commitment to museums as a long term relationship and younger generation is
involved in short term commitments and are much more motivated by gaining experience. This
gap of generation is creating problem in communicating with old stakeholders because there
missions will be different and cause conflicts(Román., 2017).
Generational difference
It is one more challenge that occurs in museums and their size and type is the generational gap
and different motivations and expectations are creating problem because the previous generation
has more believe in commitment to museums as a long term relationship and younger generation
is involved in short term commitments and are much more motivated by gaining experience.
This gap of generation is creating problem in communicating with old stakeholders because there
missions will be different and cause conflicts(Román., 2017).
Conclusion
The above paragraph shows that the importance of stakeholder and what they work and then
classify their mapping on the museum of London. Then explaining how theory demonstrate the
degree of interest and explaining mendelow's matrix and its quadrant and degree of interest and
power that any stakeholder can have. After that showing the interest and power of stakeholders
in the museum of London. At last the issues which are facing by key stakeholders and the impact
of that issue is explained above and the current issues which are impacting the interest and
power of key stakeholders.

REFERENCE

CONCLUSION

REFERENCES
Books and Journals:
Online:
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