Stakeholder Analysis for The Gym Group PLC Project
This stakeholder analysis focuses on identifying key stakeholders for launching a new site for The Gym Group PLC in Manchester. Various external stakeholders, including customers and local residents, are evaluated based on their level of interest, power, legitimacy, and urgency in the project. Strategies to engage and inform these stakeholders are outlined to ensure successful project implementation.
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Presentation Transcript
Project Management Group F201 STAKEHOLDER ANALYSIS STAKEHOLDER ANALYSIS THE GYM GROUP PLC THE GYM GROUP PLC
Project Overview Project involves launching a new site for The Gym Group PLC Located around Oxford Road, Manchester One of the fastest growing companies in the UK Sunday Times Fast Track 100 (2012), #13 15thbest small UK Company to work for Sunday Times Best Small Companies (2013) http://www.thegymgroup.com/about-us/the-gyms-history/
Stakeholder Analysis Models Keep Informed Manage Closely High Interest Monitor Keep Satisfied Low Interest Low Power High Power Power Interest Model Power, Legitimacy & Urgency Model Mitchell, R. K., B. R. Agle, and D.J. Wood. (1997). "Toward a Theory of Stakeholder Identification and Salience: Defining the Principle of Who and What really Counts." in: Academy of Management Review 22(4): 853 - 888. http://www.mindtools.com/stress/pp/StakeholderManagement.htm
The Gym Group PLC External Stakeholders External Stakeholders
The Gym Group PLC Customers Customers
External Stakeholders Customers Customers Local Residents of neighbouring areas City Centre Ardwick Longsight Hulme Fallowfield Salford Student population included Large student population in the area, 2 University Campus locally Oxford Road location opens up bus/rail/cycle links
External Stakeholders Customers Customers Represent a high interest in the project, but low power Hence, it s correct to keep this stakeholder informed on the progression and development of the project Communication vital to keep customer informed. Update them of all major progress as and when it happens Confirmed opening dates Gym membership prices (if not included in existing multi-gym memberships) Equipment information.
External Stakeholders Customers Customers Dependent stakeholder High legitimacy, some urgency, no power. E.g. Customers awaiting the opening so they can begin training at the site. Stakeholder is directly influenced by the outcome of the project.
The Gym Group PLC Local Businesses Local Businesses
External Stakeholders Local Businesses Local Businesses Local businesses, irrespective of business size Corporate membership prices/packages Boost to local economy and customer traffic
External Stakeholders Local Businesses Local Businesses Again, local businesses will show a high interest in the project, but will have low power Keeping businesses informed via suitable communication methods E-mails, newsletters etc. Regular correspondence required Take on board feedback as not doing so can have a detrimental effect on the project.
External Stakeholders Local Businesses Local Businesses Discretionary Stakeholder High legitimacy, no power or urgency Build up their participation in the project Build momentum explain benefits and potential Indirectly influenced by the project
The Gym Group PLC Internal Stakeholders Internal Stakeholders
The Gym Group PLC Shareholders Shareholders
Internal Stakeholders Shareholders Shareholders Shareholders have a large financial impact on the outcome of the project. They require comprehensive information about the project, communicated via the Annual General Meeting, or through Shareholder correspondence (letter/e-mail etc.) Not all shareholders may support the project Manage these individually
Internal Stakeholders Shareholders Shareholders Low interest in the project, but with a high degree of power Taking into consideration other expansion projects across The Gym Group PLC Ensure that shareholders are satisfied with the project. http://www.thegymgroup.com/find-a-gym/
Internal Stakeholders Shareholders Shareholders Dominant Stakeholder High power and legitimacy, but no urgency Keep shareholders informed in important decisions and issues through suitable communications methods Respond to shareholders if queries are raised and feedback given. Directly influenced in the outcome of the project Share price increase/decrease depending on the outcome http://www.thegymgroup.com/find-a-gym/
The Gym Group PLC Employees Employees
Internal Stakeholders Employees Employees Employees represent a high emotional interest in the project outcome Employees depend on the project being successful Motivated to ensure it s a success Job satisfaction Promotion Bonuses Employees have an operational influence on the project during and after completion
Internal Stakeholders Employees Employees Employees represent a high interest in the project, with a high degree of power Lack of employees means possible delays in project completion Employees need to me managed closely within the project and by the company Training requirements Start dates confirmed Timely, regular and efficient communication Shift patterns built in to ensure cover for peak times Employees need to be satisfied with all the above prior to the project completion http://www.thegymgroup.com/find-a-gym/
Internal Stakeholders Employees Employees Dependent Stakeholder High legitimacy, and urgency, but no power over the project Any information and issues regarding the project will need to be updated to employees on a high-priority basis. Employees needs to be kept involved and managed, responding to queries and feedback when required. Employees operationally involved in the project both during and after completion Exert a varying degree of control over the success of the project http://www.thegymgroup.com/find-a-gym/
