Strategic Management and Stakeholder Approach: BNZ Case Study Report

This report provides a comprehensive analysis of strategic management and stakeholder approaches, focusing on the context of BNZ. It explores the importance of stakeholder participation in organizational innovation, detailing strategies for involving stakeholders in change processes. The report emphasizes the significance of stakeholder motivation and engagement, outlining communication strategies to keep stakeholders informed and involved. Furthermore, it examines human resource management, highlighting strategies for motivating staff, providing incentives, and fostering effective communication channels. The report also addresses the crucial role of stakeholder feedback in improving services and maintaining stakeholder relationships, including strategies for incorporating feedback and adapting services accordingly. Additionally, it covers methods for enhancing staff acceptance of change, improving self-development, and monitoring performance during periods of innovation. Overall, the report offers valuable insights into managing stakeholders and staff within a strategic management framework, drawing on relevant research and practical strategies for success.

Running head: STRATEGIC MANAGEMENT AND STAKEHOLDER APPROACH
STRATEGIC MANAGEMENT AND STAKEHOLDER APPROACH
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Table of Contents
Task 4...............................................................................................................................................2
Participation of the stakeholders..................................................................................................2
Motivation of the stakeholders....................................................................................................2
Motivation of the staff seeking help............................................................................................3
Stakeholder feedback and motivation of the staff.......................................................................3
Maintaining Stakeholder engagement.........................................................................................4
Self and staff motivation..............................................................................................................5
References........................................................................................................................................7

2STRATEGIC MANAGEMENT AND STAKEHOLDER APPROACH
Task 4
Participation of the stakeholders
In order to understand the ways in which the stakeholders can participate in the process
of the innovation undertaken by the BNZ, the idea about the innovation must be clear. The idea
is to make the significant changes in the systems undertaken by the organization in order to
increase the scope of customer retention (Hayes, 2014). Therefore, the active participation of the
stakeholders is important in order to consider the progress of the change. The stakeholders, in
order to consider the change, take the following steps to participate in the process of the change.
 Proper performance of the distinctive job roles
 Helping the company in monitoring over the feedback of the clients in order to bring the
significant change
Motivation of the stakeholders
Strategies through which the company can make use of the communication in order to
keep the employees well informed is being enumerated in this section of the report. The
awareness that is being created by the organization is based on the expectations of the
stakeholders and their right to know about the proceedings of the company (Bradley, 2016).
Therefore, the company undertakes the following strategic steps to keep the stakeholders and the
customers involved in the process and maintain the good relation.
 Formulation of a website in order to create mass awareness of the internal and the
external stakeholders of the organization (Striteska & Spickova, 2012)

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 Publishing the annual report of the company in order to make the stakeholders aware of
the proceedings of the company and the progress that is being undertaken by the
organization
Motivation of the staff seeking help
Human resource management is the basic objective of the organization as the operations
that the organization undertakes is based on the performance of the staff members. The most
important consideration undertaken by the organization in order to manage the human resource is
through motivating the people working for the organization (Fewings, 2013). In order to keep the
staff members informed and motivated at the same time, the company undertakes certain
strategies that are being enumerated in this context.
 Planning proper incentives and overtime facilities in order to keep the staff members
engrossed and motivated in the processes taken by the organization and rendering the
proper healthcare facilities
 Managing the human resource through the proper communication channels helps in
keeping the staff informed about the processes (Seuring & Gold, 2013)
Stakeholder feedback and motivation of the staff
The stakeholders feedback is an important consideration that is being undertaken by the
organization in order to ensure the quality of the services that are being provided. The
stakeholders form a major part of the resource on whose actions the processes of the organization
depends. Therefore, in order to sustain the stakeholders, the company must undertake strategies I
order to keep the staff motivated and thereby deliver the best service. The strategies are being
enumerated in this context.

4STRATEGIC MANAGEMENT AND STAKEHOLDER APPROACH
 Motivating the staff through the assessment criteria on their individual and team wise
performance
 Rewarding the staff members based on the performance and the skill that the staff
member developed (Fleischmann et al., 2014)
Maintaining Stakeholder engagement
a. In order to increase the participation of the stakeholders in the change, the managers can make
use of the following strategies:
 Motivating the stakeholders- both internal and external, in terms of the grants that the
organization offers
 Adhering to the feedback of the stakeholders in order to understand the discrepancies
faced by them and thereby solve the issues
b. The ways in which the managers can generate awareness among the stakeholders and keep
them involved is through the strategies that are being enumerated in this context:
 Improving the communication channels undertaken by the organization for
communicating with both internal and external stakeholders
 Adhering to the feedback that is being given out by the stakeholders and modifying the
services accordingly
c. In order to improve the conditions of the help seeking staff, the managers can make use of the
following strategies:
 Maintaining proper integration between the departments in order to ensure the
coordination of the activities

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 Introducing proper communication channels in order to transmit the important idas and
decisions to keep the people informed
d. Managers can make use of the feedbacks in order to modify the range of the services that are
being provided by the organization. In order to retain the feedback from the clients and the
stakeholders, the managers can make use of the strategies that are being enumerated in this
context.
 Improving the internal and external communication channels adhering to the
technological advancements
 The use of the social media for the communication procedure is an important step that
the manager might take in order to retain the feedback of the stakeholders.
Self and staff motivation
a. The mangers might consider certain strategies in order to assist the staff’s acceptance of the
change or the innovation that the BNZ undertook. The strategies are being defined in this
context:
 The managers might take training sessions in order to make the staff members familiar
with the change (Weiss, 2014)
 The managers might demonstrate the advantages of the change and the effects of the
change on the organization and the individuals to the staff members
b. The managers can make use of the strategies in order to improve the engagement of the staff
members into the process. The strategies that the manager might take are being discussed in this
section:

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 Motivating the staff members by making them aware of the progress they are going to
make in their carrier through the progress of the organization
 Enumerating grants based on the staff’s performance in order to keep them motivated
c. Self development can be accessed through the proper monitoring over the performance of the
individuals and the groups. In order to undertake the systematic review the management can
make use of the following strategies:
 The development of the staff members can be enhanced through the self-assessment
websites and the proper monitoring over the performance on a limited amount of time
(Hill, Jones & Schilling, 2014).
 Development of the staff members can be enhanced through the training and guidance of
the management on their job role
d. In order to monitor over the staff performance in the period of the change can be undertaken
through implementing the following strategies:
 Taking help of software that keeps a record of the progress made by the staff members
 Having a track of the daily progress made by the people

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References
Bradley, G. (2016). Benefit Realisation Management: A practical guide to achieving benefits
through change. CRC Press.
Fewings, P. (2013). Construction project management: an integrated approach. Routledge.
Fleischmann, A., Schmidt, W., Stary, C., Obermeier, S., & Brger, E. (2014). Subject-oriented
business process management. Springer Publishing Company, Incorporated.
Hayes, J. (2014). The theory and practice of change management. Palgrave Macmillan.
Hill, C. W., Jones, G. R., & Schilling, M. A. (2014). Strategic management: theory: an
integrated approach. Cengage Learning.
Seuring, S., & Gold, S. (2013). Sustainability management beyond corporate boundaries: from
stakeholders to performance. Journal of Cleaner Production, 56, 1-6.
Striteska, M., & Spickova, M. (2012). Review and comparison of performance measurement
systems. Journal of Organizational Management Studies, 2012, 1.
Weiss, J. W. (2014). Business ethics: A stakeholder and issues management approach. Berrett-
Koehler Publishers.

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