Stakeholder and Account Management Report for Wimbledon Championships

This report provides a comprehensive analysis of stakeholder management within the context of the Wimbledon Championships, focusing on the All England Lawn Tennis and Croquet Club (AELTC). The report begins with an introduction to stakeholder and stakeholder analysis, identifying key stakeholders such as players, administration staff, spectators, club members, sponsors, and investors. It then categorizes these stakeholders using a power/interest matrix, assessing their influence and importance. The analysis includes the importance of the power/interest matrix, its application, and how it aids in prioritizing stakeholder needs. Furthermore, the report delves into relationship marketing strategies, particularly focusing on building relationships with spectators. It examines a five-stage model for developing stakeholder relationships and emphasizes the importance of trust and commitment. The report also explores communication plans and methods for measuring the success of stakeholder management, concluding with the role of account managers in fostering stakeholder relations.

STAKEHOLDER AND
ACCOUNT
MANAGEMENT

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
PART A: STAKEHOLDER ANALYSIS.......................................................................................1
Stakeholder and stakeholder analysis..........................................................................................1
Stakeholders of Wimbledon championships...............................................................................1
Importance of Power/Interest matrix..........................................................................................3
Use of Power/Interest matrix......................................................................................................4
PART B: RELATIONSHIP MARKETING....................................................................................5
Stakeholder and developing relationship ...................................................................................5
Five stage model or levels of relationship ..................................................................................6
Importance of trust and commitment with stakeholder...............................................................7
Communication plan ..................................................................................................................8
LO 3.................................................................................................................................................9
Key methods for measuring the success of stakeholder..............................................................9
LO 4...............................................................................................................................................11
Role of the account manager will aid in developing relations with stakeholder.......................11
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Stakeholder management is very important aspect for every work within the enterprise.
This is because, multiple shareholders create various advantages which increase ability to speed-
up, slow down and complete obstruct progress of the business (Mistilis Buhalis and Gretzel,
2014). Present study is based on AELTC and Wimbledon Lawn Tennis Championship events. It
is club which has 375 full members and playing with more than 100 people. The club is more
prominent to make competition within the market. This club is founded on 23 July 1868 as the
All England Croquet Club. On 1st August 2011, this club convert into the company limited
through guarantee under the name.
For gaining insight knowledge of this club, present report covers stakeholder and their
analysis. Furthermore, it identifies stakeholder of the Wimbledon championship and also
categories items within the group. Moreover, it includes importance of AELTC building trust
with stakeholder to make commitment which may achieve. At last it demonstrates role of
account who assist to develop relations with identified stakeholder.
PART A: STAKEHOLDER ANALYSIS
Stakeholder and stakeholder analysis
Stakeholders are the individuals that hold certain amount of interest in functioning of an
organisation or business firm. The actions, decisions, objectives and policies related to
commodities of different business processes are some of the features which are subjects of key
interest for stakeholders. Visitors, players, maintenance staff, club members, government,
investors, etc. are some of the stakeholders of AELTC.
Stakeholder analysis is a strategic tool that is used for identifying the stakeholders that
either influence or get affected by the activities of organisation. Business organisations have to
perform stakeholder analysis for managing the stakeholders and developing an effective
relationship with them (Stakeholder power/interest analysis, 2017). It is performed by dividing
the stakeholders into four quadrants on the axes of power and interest.
Stakeholders of Wimbledon championships
All England Lawn Tennis and Croquet Club is one of the leading organisations that have
been promoting Wimbledon championships. Following stakeholders have been identified in
context of Wimbledon championships:
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 Players and sportspersons participating in the event.
 Administration staff
 Spectators/Visitors
 Members of AELTC Club
 Sponsors of the event
 Investors
 Staff involved in maintenance of courts and stadium
According to the stakeholder analysis there are four groups in which stakeholders can be
categorised. These are mentioned below: High importance, low influence (victims): Sportspersons High importance, high influence (difference makers): Members of club, sponsors,
investors, government Low importance, high influence (irresponsible): Visitors/spectators, interest groups
 Low importance, low influence (bystanders): Administration staff
This classification of stakeholders helps in prioritising the needs and demands of
stakeholders. Organisation can implement necessary changes or take further developmental
decisions based on the findings of this analysis (Hauck and et. al., 2014). Objectives and goals
set by institution can be accomplished in specific time if strategic approaches have been defined
for handling or managing stakeholders.
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Importance of Power/Interest matrix
The Power/Interest matrix is developed by classifying stakeholders on the basis of their
importance and level of influence (Cairns, Goodwin and Wright, 2016). There are four quadrants
that are developed when categorising on the axes influence or power of stakeholders and the
interest they show in business functioning. The stakeholders of Wimbledon Championships have
been depicted earlier. This grid or matrix is important because the judgement that has to be made
regarding important stakeholders and non-important ones can be made easily. The products and
services provided by organisation are developed according to needs and demands of important
and most influential stakeholders (Missonier and Loufrani-Fedida, 2014). This not only helps in
building good market reputation but strategic decision making process is supported largely when
stakeholder analysis and power grid is designed.
Working process of matrix: Organising stakeholders according to their importance and
influence on an organisation helps in reducing the complexity which is involved in decision
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making. If AELTC plans to develop a new marketing strategy, then it would perform a
stakeholder analysis regarding Wimbledon Championships and then categorise stakeholders
accordingly. People who belong to keep satisfied and manage closely quadrant are important and
influential while the ones who need to be kept informed and monitored are comparatively less
important (Yang, 2014). Different priorities are gathered and ranked from high to low. The
proposed strategy for which this matrix was used can now be developed with regards to acquired
priorities. Moreover, the decisions that need to be taken are much more effective.
Use of Power/Interest matrix
The application of stakeholder analysis especially the power/interest matrix is wide scale.
Organisations can develop better strategies when this kind of matrix is utilised. From generating
opinions through stakeholders to gaining financial support from very powerful stakeholders, the
organisation is benefited in all respects (Stakeholder power/interest analysis, 2017). The
following picture depicts classification of stakeholders in their respective quadrants based on the
level of interests and influence they hold in Wimbledon Championships.
1. Quadrant A (Keep Satisfied): Sportspersons
2. Quadrant B (Manage Closely): Members of club, sponsors, investors, government
3. Quadrant C (Keep Informed): Visitors/spectators, interest groups
4. Quadrant D (Monitor): Administration Staff
The court in which events have to be organised is to be maintained and developed so that
tournaments are not hindered. This task is assigned to the administration staff and maintenance
workers. They are the human resource that take care of every facilitation which needs to be
provided to individuals who participate in tournament. They are slightly important and less
influential for the organisation and the Wimbledon Championships. On the other hand, investors,
sponsors, club members and the ruling government are classified in Quadrant B i.e. highly
influential and important for Wimbledon Championships. Large amount of funding is required
for bringing in good quality sports equipments and to felicitate sportsperson with all kinds of
comfort so that they play well (Cairns, Goodwin and Wright, 2016). All these attributes can be
achieved when AELTC holds good amount of monetary funds. Hence, it is important to manage
investor demands and sponsors so that events are not withheld intentionally.
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Other stakeholders who need to be kept informed and satisfied include spectators and
sportspersons (Hauck and et. al., 2014). Imagining a match in which there are no spectators and
visitors. This often demoralises the playing spirit of players of the particular sport. The impact is
felt on both sponsors and participants. Hence, spectators are important but their activities are less
influential over the decision making process of organisation. The individuals who are going to
play the game are centres of attraction for crowd, sponsors and other stakeholders (Yang, 2014).
It is important to keep them informed and satisfied regarding different decisions and strategies of
the association. Hence, they have been classified in Quadrant A.
PART B: RELATIONSHIP MARKETING
Stakeholder and developing relationship
Quadrant C has one important stakeholder i.e. Spectators or visitors who come for
watching Wimbledon Championships. Currently AELTC aims to organise one of four annual
grand slam tennis events. The event has to be organised on a big scale. The first step of AELTC
is to gather funds so that rest other activities can be supported. This is possible only when there
is effective relationship approach towards the stakeholders. The people categorised in quadrant C
i.e. Keep informed group is Visitors or spectators. Being an essential part of the event, they have
to be aware that some sort of event is going to take place at respective venue from 3rd to 16th July,
2017.
Club Members are given special passes for themselves and their families. Ordinary
citizens have to purchase respective tickets and reserve their seats. AELTC can approach these
stakeholders by rigorous marketing. Promotional campaigns, televised advertisements, radio
announcements and posters, billboards, etc. are some of the strategies through which potential
visitors can be informed regarding the upcoming tournament. Internet is one of the fastest
growing media through which any sort of information can be transferred effortlessly (Missonier,
and Loufrani-Fedida, 2014). AELTC can approach audiences through this medium also
especially by using social media communication sites.
Culture and sports are two attributes that unite every class and society together in the
form of one country. AELTC can approach audiences by developing a cultural background and
inspiring them for participating in the event with an aim of country's benefits. The use of
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feedback forums and forms can also be a methodology to develop customer centric relationship
and applying necessary improvements while organising the event.
Five stage model or levels of relationship
To comment on the relationship between quoted club and the stakeholder from quadrant
C which is the audience who visits the match, the five stage model is taken in use. This model
has five stages which are described below: Share: Before the customers purchases the tickets of match, they talk about it with their
friends and do some research online. The cited club should understand what these
customers want and then make strategies in accordance with it (Mok Shen and Yang,
2015). Attract: Club should know from where audience is coming, online or offline. How
customers came to know about the club and what made them to prefer this club. This is
something very important for he quoted club to understand and know. Convert: How did the audience decided to attend the match, and what was the cost. The
club have to know the lost opportunities. It should be prepared with the automated
messages and fix them with automatic communication which will deliver best return on
investments (Moura-Leite and et. al., 2014). Retain: The club should understand and know how many customers it loses regularly. If
the club actually understands its retention or attrition rates, then it will be the highest
revenue generating research it will do.
 Grow: Some of the visitors will satisfactorily grow their relationship with the chosen club
and some of them may deliver less opportunities. The club should use similar type of
analytic to find out growth opportunities as it find during the initial stages, this will result
in high payback.
To apply this model, cited club need to develop smart, targeted and personalised
strategies which will be helpful in delivering a more consistent, quenched relationship with the
customers (Eskerod and Jepsen, 2013).
Importance of trust and commitment with stakeholder
Trust and commitment are the important factors which should exist for relationship of
AELTC and audience to become a success. Cited club should make strong bond with customers
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who are the visitors in their case, and give honour to their commitments. It should focus on long
lasting relationship rather than short term profits with the visitors in the match. This will lead to
increased trust in customers and there will be mutual loyalty in both the parties which will meet
their requirements (Verbeke and Tung, 2013). Trust is that confidence betwixt both the parties in
their relationship with a belief that other party will not do something which will be harmful or
risky. AELCT should build trust by fulfilling the promises made to the audience who visits the
match. On the other hand, commitment is a long term desire for maintaining a valuable
partnership. This is a desire which makes business to continuously make investment in
development and maintenance of relationship with customers.
Both these terms are important due to the below mentioned points:
 Trust is the final hope for strong relationship between AELTC and audience, it is the last
choice to build a long term relationship.
 Commitment makes a significant and positive affects on the relationship between
AELTC and customers.
 It is a strategic necessity for AELTC to manage commitment of audience in an effectual
manner.
 If audience is committed towards the club this will improve the overall image of the club
which will increase its popularity in the public.
 When cited club is having an audience which trusts it, then it will lead to better service
delivery and increased satisfaction in customers (Dooms Verbeke and Haezendonck,
2013).
 Trust and commitment is vital for the relationship between customers and quoted club of
London as both these things will result in relationship commitment.
 If there is a strong relationship commitment betwixt visitors and chosen club ten it will
lead to a positive perception of club.
Communication plan
Stakeholder communication planning are very essential. When key stakeholders are
identified then , chosen club can develop an effective communicate plan. For this some points
have to be determined such as:
 Who are the key stakeholders in the match and at what level they should be engaged?
 What are the wants and requisites of each stakeholder?
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 Analysis of interests of each stakeholder
 How will club communicate in an effective manner with each stakeholder and with what
type of method?
 Identify the frequency of communication
Planning for communication is a fair straightforward regarding steps which should be
followed. The significant challenge for chosen club is to ensure the plan actually get delivered
along with human and financial resources which it is having (Fassin, 2012). For this, club can
chose the eight step communication plan. This plan aims to help the cited club to think in a
strategic manner for developing pragmatic communication plan. These steps are elaborated here:
5. Developing communication goals which is an essential step.
6. Set the key message for club which will reduce confusion and conflicting messages.
7. Define and prioritise major stakeholders who have a critical role in club and its success.
8. Set additional key messages that are important for stakeholder group and their specific
concerns (Weiss, 2014)
9. Develop efficacious communication tactics for each stakeholder groups.
10. Allocate budget and responsibilities
11. Develop quarterly communication calendar
12. Assessment of outcomes and adapt planning
Communication plan
Stakeholders Message Medium
Audience
Match will be organised on 3
July from 9:30AM to 1:00 PM.
Through Social networking
sites
Players Personal Email ids of
players
Coaches Formal letters
Sponsors Formal meetings
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LO 3
Key methods for measuring the success of stakeholder
In order to ensure success of the shareholder of AELTC, manager need to identify all
people or group participation which can be affect to work in progress. There are different
methods through positive and negative aspect can be measure which keep specific interest that
help to provide priorities the activities (Homburg, Stierl and Bornemann, 2013). Marketing and
corporate communication are main elements through organisation can connect ideas which seek
to particular brand, products and services. Following are such methods which can help to make
success of stakeholder which related to marketing mix and different communication activities:
Introduction to marketing communications
Marketing communication provides introductory perspective and set various concepts. It
contains brief overview of disciplines of marketing communication. In addition to this, it also
addresses issues which concerning communication theory in simple linear interpretation. It
recognises at workplace of AELTC such elements that are influence of people, behaviour and
international elements of communication process (Tryggestad, Justesen and Mouritsen, 2013).
Understand that how marketing communication works
This part considers that how marketing communication works but also explores key
conceptual issues which can be influence the nature and form of interaction. It is very important
for stakeholder of AELTC because of buyer behaviour on which marketing communication can
be develops. With the understanding the market and target audience, appropriate objectives,
strategies and promotional methods are implemented. In addition to this, applications, resource
determination and allocation also place at workplace which determines various approaches
within the environment. All approaches assist to understand how marketing communication
works with ideas and opinion. These ideas come from advertisement and engagement in
messages with private significant values (Homburg, Stierl and Bornemann, 2013).
Strategies and planning
Strategies and planning method is concern with nature of communication strategy which
make interrelationship between both elements. In addition to this, second section consider
marketing communication planning which signifies to solve issues and linkages. This approaches
formulate and implement plan with marketing communication at AELTC. Further, it also looks
towards objectives and positioning in marketing communication. This process in the identity and
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branding process which can identify work on interrelated codes and practices (Mistilis Buhalis
and Gretzel, 2014).
Marketing communication mix (Disciplines and applications)
Marketing communication is the mix of disciplines and applications which are available
to organisation to communicate in internal and external audience. Models are considers at
AELTC with different strategies which develops through marketing the communication process.
In addition to this, another part of nature of advertising message create with media planning so
that it will assist to deal sales promotion, public relations, sponsorship and direct marketing
(Hayes, 2014).
Marketing communication for special audiences
This considers with role of marketing communication within the enterprise. In this aspect,
employees are target audience who increasing key brand and importance of employee. As
results, engaging with external audience is actively participates for making profitability and
effective performances (Tryggestad, Justesen and Mouritsen, 2013).
Sales and revenue
In order to measure performances, AELTC can also use sales and revenue parameter. In
this aspect, they are analysis business outcomes through they can easily expand operations and
functions at workplace. It makes high profits and revenue at workplace through objectives can be
undertake easily. With the help of effective communication process, the chosen enterprise need
to demonstrate performance at high level. Large group can be taken together at workplace
through managing team members, writing reports and presentation to make effective job and
better performances (Jaakkola and Alexander, 2014).
Identifying skills and performances
Personal qualities and skills are also needed which is very important element to create
experience for particular work areas. In this way, the firm need to analysis market through
considers following elements:
Excellent communication and interpersonal skills
Interest to meet with new people
Strong presentation skills
Excellent time management skills
Commercial awareness and interest within the business.
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Good customer services skills
Attentions to create details and accurate records keeping (McNeil, Frey and Embrechts, 2015)
Integrity, sincerity and discretion
The ability to develop and deliver innovative ideas
Computer literacy
Team working skills
Work experience
AELTC is also responsible to make work experience with other company and financial
sector so that performances can be improves. Competition is place with high dignity so that
many other companies make strong and high internship programs. It is possible to make right
account handling with previous experience (Homburg, Stierl and Bornemann, 2013).
LO 4
Role of the account manager will aid in developing relations with stakeholder
Account manager is a person who work within the company and they are responsible for
sales management and make relationship with customer. They are work to manage relationship
with individual client and group. In addition to this, they are also using daily running activities
through AELTC will easily connect with their customer at workplace. Account manager of the
company are continuous hiring people in time of works. As results, they are serves interface
between customer services and sales team of the enterprise (Mistilis Buhalis and Gretzel, 2014).
Most important role of account manager is determining communication very effectively
so that they can achieve targets and outcomes in positive manner. They are responsible within
AELTC to identify needs of customer so that they can maintain relations with them as well. An
experience to deals with customer at various level, senior managers are also work so that they
can attend account premises to meet with client requirement. Further, account manager need to
make support to project manager which assist to identify requirement of team at workplace. In
this way, draft can be plan within the business environment so need of particular project can be
ascertain at workplace (Patrick and Link, 2015). With the help of planning draft at workplace of
AELTC, account manager can ensure that services are delivered within a time and it also meets
with client expectations.
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Increasing requirement for high quality digital marketing assist to engage companies for
help. In this aspect, rise within number of clients are also facing job opportunities that are
available within the sector. For deals with these roles, account manager can easily frame
outcomes and positive results (Jones and Felps, 2013). They have acquires different types of
good trait such as people person, well organised, set expectations, great presenter and negotiator.
It also makes commercial understanding to meets with clients needs and their performances at
workplace. In addition to this, there are also such methods through account manager can develop
relationship with different stakeholder. It includes maintenance of financial statement of business
which assist to make proper functions and operations at workplace. It demonstrates performances
and quality of business outcomes which assist to gain competitive advantages.
CONCLUSION
From the above report it has been articulated that account management is very important
element for stakeholder. In this way, report summarized about stakeholder and their analysis at
workplace of AELTC. Furthermore, it identifies stakeholder of the company who are performed
effective functions and operations to gain competitive advantages. Moreover, it also outlines to
interest matrix which explains for development of the business scenario. In addition to this, five
stage model cover which take place for different level and relationship comment within current
outcomes of AELTC. Apart from this, report concluded about communication plan which
ascertain for add values and provide key message at workplace. In this aspect, different types of
communication requires perform functions and operations with the help of different medium.
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Online
Stakeholder power/interest analysis. 2017. [Online]. Available
Through:<https://requirementstechniques.wordpress.com/stakeholder-analysis/
stakeholder-powerinterest-analysis/>. [Accessed on 27th March, 2017].
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