Lesson 6: Stakeholder Management Flashcards
Domain F
Define Stakeholder
Persons or organizations who can have an impact on the success of the event or who can be affected by the event. They are actively involved in the project or whose interests may be positively or negatively affected by the project.
Anyone with a vested interest in the event
Internal Stakeholders
Owner of the project, Owner of the budget, other department business owners, managers, employees, internal customers
External Stakeholder
Attendees, sponsors, and community where the event is taking place
Managing Stakeholders
- Interviews to get engagement
-Have a communication and recognition plan
-know that you may have to resolve conflicts with stakeholders
What is the Organization Owner (Internal Stakeholder) responsible for?
The organization’s growth, sustainability, finance, relationship, and brand
What is the Event Owner (Internal Stakeholder) responsible for?
Performance targets, meeting objectives, cost and resource management, and return on investment. The person who has requested the event and is responsible for defining its overall objectives and measurable outcomes
What is the Finance/Budget Owner (Internal/Key Stakeholder) responsible for?
Budget, compliance process, costs, savings, credit authorisation, legal and financial risk mitigation, audit. Key stakeholders can be the same person as the owner of the event and are responsible for income and expenditures related to the event.
What is the Procurement (Internal Stakeholder) responsible for?
Compliance, savings, sustainability, legal & Financial Risk Mitigation
What are the Participants’ decision-makers (Internal Stakeholders) responsible for?
cost & resource management, performance targets
What is the Travel Department (Internal Stakeholder) responsible for?
compliance, process, savings, legal and financial risk
What are the sales and marketing (Internal Stakeholders) responsible for?
organizational growth, finance, relationship, brand management
What is the technology (Internal Stakeholder) responsible for?
application security, impact on existing technology, training, cost, and resource management
What are the ethics and compliance (internal stakeholders) responsible for?
transparency, corporate responsibility, and ethics
What is the legal and risk management (internal stakeholders) responsible for?
compliance, legal liability, minimizing all risks associated with event processes
What is the security (Internal Stakeholder) responsible for?
physical safety and security of all stakeholders
What are the human resources (internal stakeholders) responsible for?
employee engagement, retention, and motivation, the wellness of all employees
What is the training and development (Internal Stakeholder) responsible for?
continuing professional development
What is the facilities management (Internal Stakeholder) responsible for?
effective and efficient use of onsite facility and equipment, safety, security, cost, resources management, and sustainability
What are the employees/Labour unions (Internal Stakeholders) responsible for?
health and safety, the public image of the organization, future opportunities, job satisfaction, and security
Stakeholder Profile
- Stakeholder details- name, job title, role within the organization
- Connection- Why this event is important to the stakeholder
-Key values - what elements the stakeholder considers important; define, prioritize, and determine key performance indicators - Sphere of influence- which relevant individual/groups the stakeholder can influence
-Preferred communication channels
-information required
-Key Stakeholder objectives for the event
-Measure of success
What are the participants/attendees (External Stakeholders) responsible for?
Value, benefits, and return for their attendance, Meeting objectives
What are the suppliers (External Stakeholders) responsible for?
Sales of goods and services, long-term client relationships, client satisfaction
What are the media (External Stakeholders) responsible for?
Identifying news worthy stories
What are the partners and contributors (External Stakeholders) responsible for?
organizational growth, relationship, and brand management
What are the Local community organizations and businesses (External Stakeholders) responsible for?
impact on the community, revenues for local businesses, tax revenues, reputation of the destination
- What protocol research should a planner do before working with other cultures and customs?
Page 137
a. Formality of written material.
b. Who provides agenda and conduct the meeting.
c. Adherence to time schedule
d. All of these are correct.
d. All of these are correct.
- Why would an organization conduct interviews with sponsors and potential sponsors?
Page 131-134
a. This is necessary to determine which accounting method to use.
b. These stakeholders might may identify different assets or suggest unique packages.
c. This is necessary and required by law.
d. Sponsors need to identify assets themselves to perceive them as valuable.
b. These stakeholders might may identify different assets or suggest unique packages.
- In order to maintain positive long-term relationship with event stakeholder, a planner should do all of these except:
Page 135
a. Be aware of legal considerations.
b. Provide full disclosure on budget to all stakeholders.
c . Recognize and reward stakeholders.
d. Anticipate and resolve conflict.
b. Provide full disclosure on budget to all stakeholders.
- When profiling attendees in a meeting, in addition to knowing why they attend or support a meeting or event, what other information should be gathered from this stakeholder profile?
Page 131-134
A. Their social security number, income level, and security clearance.
B. Their vision, mission, and goals.
C . Reasons for not attending.
D. Their organization’s structure.
C . Reasons for not attending.
- What is a common definition of stakeholders in meeting planning?
Page 127-128
A. People who manage Supply Chain management.
B. People who invest in an event.
C. People who have an impact on the success of the event.
D. The board of directors of an association.
C. People who have an impact on the success of the event.
- Who are typical internal stakeholders?
Page 130
A. The organizational owner.
B. Travel Department.
C. The training and development department.
D. All of these are correct
D. All of these are correct
- Who benefits from a successful event?
Page 132
A. Exhibitors.
B. Facility.
C. All stakeholders.
D. Attendees.
C. All stakeholders.
- The following are typically considered internal stakeholders except:
Page 128-129
A. Finance department.
B. Attendees.
C. Procurement.
D. Technology team.
B. Attendees.
- A local community or business can be an example of an event stakeholder?
Page 132
A. true
B. false
A. true
- What is not part of the stakeholder profile?
a) Stakeholder Location
b) Stakeholder Details – Name, Job Title
c) Connection to Event
d) Sphere of Influence
a) Stakeholder Location
- The XZY Corporation Annual Sales Meeting needs to be planned. Which one of the following is not a stakeholder for this event?
a. Vice President of Sales
b. Attendees
c. Director of Public Relations
d. CFO
c. Director of Public Relations
