The major areas we will cover in this column over the next few months include: Improving supply chain relationships Designing products for the supply chain Information visibility in supply chains The impact of new channels: Relationship management affects all areas of the supply chain and has a dramatic impact on performance. In many cases, the information systems and technology required for the supply chain management effort are readily available and can be implemented within a relatively short time period, barring major technical mishaps.
In the age of social media activism and online media, effective stakeholder management is more important than ever. The influence of stakeholders on your project can be immense, and if not managed correctly, could lead to project delays, resource drain, political intervention or project termination.
Worldcom partners at Phillips Group argue that effective identification, understanding and management of your stakeholders, their triggers and their expectations will improve your ability to reduce risk, tailor mitigation measures and deliver a successful project.
Phillips Group identifies five specific strategies that will aid in stakeholder management: Stakeholder mapping Early in the project, conduct a thorough stakeholder analysis to identify your stakeholders.
Identify and examine key factors including proximity to your project, demographics, interest in the project, needs and concerns, expectations of your project and any previous public statements. Also important is gaining an understanding of your internal stakeholders, such as immediate staff, suppliers and contractors, broader companies or alliances and shareholders.
Mapping your internal stakeholders will allow you to investigate whether you have the right resources and whether your team will function effectively. Influence is key Understanding levels of influence will allow you to predict how a particular stakeholder may interact directly with your project team or with others.
The range of possible influence is broad, from positive sentiment and support through to activism and engagement of other community members against your project. To measure the possible influence of your stakeholders, identify their level on a scale ranking from high, medium to low: Identify the triggers Stakeholders will react in different ways to different project actions, however by identifying triggers and mitigation measures, you can avoid preventable complaints.
Often, it is when stakeholders experience changes to their environment or expectations of a business and its behaviour that may cause a reaction. Correlate your stakeholder list with potential known triggers, such as loud or dusty construction works, visual amenity impacts or disruptions to their normal patterns.
Estimate the impact that these reactions may have to your project or strategies and identify whether targeted communication, mitigation or an alternative solution is required.
Want to learn the other stakeholder management strategies from Phillips Group? Read their 5 strategies for effective stakeholder management blog post. Receive more Worldcom insights:relationship that impedes the independence and effective operations of the internal audit function should be viewed by the CAE as a serious scope limitation, which should be brought to the attention of the audit committee or its equivalent.
Customer-relationship management (CRM) is an approach to manage a company's interaction with current and potential customers. It uses data analysis about customers' history with a company to improve business relationships with customers, specifically focusing on customer retention and ultimately driving sales growth.
Internal Relationship Management: Linking Human Resources to Marketing Performance Michael D. Hartline Florida State University David Bejou Virginia State University This paper focuses on the theme of internal relationship management and the linkages between . Internal Relationship Management Linking Human Resources to Marketing Performance Exploring the Influences of Internal Branding on Employees' Brand Promise Delivery: Implications for Strengthening Customer–Brand Relationships.
Khanyapuss Punjaisri et al.
Journal of Relationship . management professionals, deliberate internal relationship management is often overlooked. Yet the quality of internal partnerships determines whether supply management operates at . The Relationship Between Internal Audit and Senior Management: A Qualitative Analysis of Expectations and Perceptions This is a Wiley-Blackwell Publishing paper.