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Stakeholder and Account Management

Harvard, 3500 Words

Table of Contents

Background of Notting Hill Carnival

Introduction

Part A: Stakeholder analysis

Explain the concept of stakeholder analysis.

Identify ten stakeholders of Notting Hill Carnival and using Bowdin et al’s stakeholder framework, categorize the stakeholders into groups.

Describe the needs/interest of each identified stakeholder.

Outline the importance of the Power/Interest matrix and explain how the matrix works.

Using the Power/Interest matrix place each earlier identified stakeholder in the appropriate quadrant of the matrix and comment on each stakeholder’s type of influence on Notting Hill Carnival.

Section B -STAKEHOLDER ANALYSIS

7.0: Metropolitan Police

8.0: The ladder of loyalty and the current stage of the relationship

9.0: Importance of Notting Hill Carnival organisers building trust and loyalty with the police

10.0: Communication plan

11.0: Events Account Manager and relationship with the police

Conclusion

Part A References

Part B References

 

List of Tables

Table 1: Stakeholders’ Analysis Framework. 4

 

List of Figures

Figure 1: Stakeholders’ Analysis. 2

Figure 2: Power/Interest Matrix. 5

Figure 3: Power/Interest Matrix for Notting Hill Carnival Stakeholders. 6

 

Background of Notting Hill Carnival

Notting Hill Carnival is one of the UK’s largest street festivals attracting hundreds of thousands of people each year. Each August over two days (27th & 28th August 2017) in the Royal Borough of Kensington and Chelsea, the festival takes place in the street. This event started in London since 1966. It is led by members of the British West Indian community. It attracts around one million people annually, which has made it the world’s largest street festivals. This festival was a more diverse to promote cultural unity. It became a major festival in 1975 when it was organised by a young teacher, Leslie Palmer. Now it has become a significant event in British culture.

Introduction

Notting Hill Carnival a major cultural event of UK. Being a part of the team of the organisers at London Notting Hill Carnival Enterprises Trust, I have been given with producing a group report for the board on stakeholder relationship marketing. Here I will perform the shareholder analysis. Here I will show a consistence ways to analysis techniques. This report will show a clear idea of the analysis to the interested parties.

Part A: Stakeholder analysis

Explain the concept of stakeholder analysis.

Stakeholder Analysis refers to the process of analysing the impact of stakeholders in decision making in terms of their power or interest. It is the framework using which the management makes decisions regarding taking appropriate actions and implementing strategies. Stakeholders are usually the individuals or organizations whose interest is vested in the organization and can exert power on organizational decisions. However, there are several types of stakeholders in an organization (Huber and Pallas, 2006). Based on their interest and power, management of organizations identifies the key players and apathetic. The following figure shows the framework for conducting the stakeholder analysis.