Course Info
Code MG2-121
Duration 5 Days
Format Classroom
Course Summary
For many businesses, stakeholders are an essential part of profit-making and moving forward. They provide valuable ideas and insight, increased innovation and ability to compare with competitors and other businesses in the field, and most importantly, the finances to grow a business without coming across financial difficulties.
Developing a stable and mutually beneficial relationship with the right stakeholders can be difficult. It’s essential to develop a strong connection with people who understand your mission and company aims. You will need to utilise practical negotiation skills and engage your stakeholders in all areas of your organisation to maintain their interest.
Sometimes stakeholder relationships can become rocky, and it’s also an important task to keep them on side, remove the pressure from your employees and maintain stability by offering innovative solutions to questions and problems.
It’s also your responsibility within the business to develop processes and skills to consider both external and internal stakeholders, including contractors, employees, clients, shareholders, and consultants, and increase opportunities, overcoming challenges to ensure that the business is propelled forward and increasing in profitability.
During this course, you’ll learn:
- To develop long-term mutually beneficial relationships with stakeholders.
- To understand the requirements for stakeholders both internally and externally.
- To create meaningful communication channels to keep your stakeholders engaged.
- To use SMART negotiation techniques to make the most of alliances.
- To navigate workplace changes and keep everyone informed.
- To maintain profitability by generating innovative solutions to change and gaining funds to carry out new processes.
- To improve negotiation and influencing techniques in order to get the most out of relationships.
- To benchmark your success against competitors and accept feedback from stakeholders to make essential improvements.
- To resolve organisational conflicts and manage workplace politics.
This course is designed for anyone who is responsible for managing stakeholder relationships or negotiating contracts in order to gain funding for future projects. It would be most beneficial for:
- Fundraising Managers
- Operations Managers
- Financial Managers
- Business Owners
- Directors
- Purchasing Managers
- Technical Professionals
- Project Managers
- Change & Control Managers
- Administrators or Support Staff
- Account Managers
- Sales Representatives
This course uses a variety of adult learning techniques to aid full understanding and comprehension. Participants will watch video examples based on positive and negative negotiation and influencing styles and their consequences.
They will also use group activities and learn tools and techniques to develop an action plan in order to develop business processes and projects while presenting the benefits and accurate statistics to potential stakeholders to gain buy-in.
Role-playing activities will also utilise real-world scenarios to improve participants’ natural negotiation and relationship-building techniques and help them with objection handling and managing challenging conversations.
Course Content & Outline
- What do you want from your stakeholders?
- Identifying your needs and those of your stakeholders.
- Shared benefits.
- Minor vs. senior stakeholders - benefits and pitfalls.
- Your stakeholder register.
- The best stakeholder management strategy.
- The psychology of stakeholder communication.
- Understand the barriers to effective communication.
- How to remove communication barriers.
- Interests vs. necessities.
- Developing trust using empathy and understanding.
- Delivering news on key issues.
- Emotional Intelligence and its role in relationship building.
- Planning and contractual agreements.
- Developing the right environment for mutually beneficial relationships.
- The skills and competencies of stakeholder management.
- Stakeholder prioritisation - ramping up and ramping down.
- Influencing skills and rapport building.
- Negotiation techniques and practice.
- Managing effective stakeholder meetings.
- Behaviours, body language, and influencing without authority.
- Gaining extra funding through persuasion and positive planning.
- Passive manipulation.
- Negotiation tools and techniques.
- Dealing with stakeholder objections.
- Understanding why objections may occur.
- Identifying pain points in processes prior to presentation.
- Escalating stakeholder objections for a more comprehensive resolution.
- Managing expectations when issues occur.
- Managing key influencers and stakeholders effectively.
- How to identify the needs of different stakeholder types.
- Protocols and processes for different types of stakeholders.
- Understanding communication method differences for internal vs. external stakeholders.
- How internal stakeholders can benefit your business.
- How external stakeholders can benefit your business.
- Gaining the right ratio.
- The 3-step approach to effective stakeholder analysis and engagement.
- National and regional culture and how these differ.
- Your organisational values and culture.
- Enforcing values and managing non-adherence.
- Communicating across cultural barriers.
- Time management, expectations, and goals.
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