Unit purpose and aim(s)
Stakeholders come in many forms: governments, pressure groups, employees and customers to name just a few. Some are more important than others but all can affect an organisation in some way. For example, pressure groups can encourage consumers to boycott brands in a matter of minutes using social media; shareholders can overturn board decisions; governments can bring in legislation that will change the nature of an industry sector and consumers can tell millions of others about poor service by just clicking a few keys.
It is important for organisations to take a pro-active approach to managing stakeholder relationships if they are to protect their reputation, recognise new opportunities and continue to grow.
In this unit, you will explore different stakeholders in depth, analysing their potential impact and influence in order to develop relevant relationship management strategies that will enable organisations to overcome threats, take advantage of opportunities, achieve their objectives and protect their brand.
Assessed by assignment.
Qualifications for this unit
ABE Level 5 Diploma in Business Management
Level 5 means the same depth of learning as year two of a Bachelors degree. This qualification develops a strategic understanding of business management principles and practical application.