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Keeping it SiMMPle logo

                                                                                                           

                                                                                                       Volume 19, October 26, 2011
In this issue:
S is for Stakeholder Management
SiMMPle Tips
Did you know...

Greetings!

Welcome to Keeping it SiMMPle, a bi-monthly newsletter aimed at making and keeping your Strategic Meetings Management Program Practical, Light, and Effective. For Meeting Managers and Procurement Specialists, this newsletter will assist you in finding practical solutions and provide advice on actionable steps to gain visibility and control of your organization's meeting spend.  For Suppliers, you will gain insights into the issues that your clients face, and how you can support their SMM programs. In addition, Keeping it SiMMPle will highlight key industry trends and identify tips that will make your job easier.

Each issue of Keeping it SiMMPle addresses a component of the A to Z of SMM from a Practical, Light & Effective perspective. In this issue S is for Stakeholder Management.  

One of the recent additions to the Global Business Travel Association (GBTA) SMMP Puzzle wheel is the concept of Stakeholder Management. The stakeholder was added to the outside of the wheel to indicate how critical it is that we understand the needs of the various stakeholders at the initial development of the Strategic Meetings Management strategy development process. There are a variety of core stakeholders, extended stakeholders, a team lead and most importantly the identification of an executive sponsor.

 

One very effective way to identify the various stakeholders and their role in the SMM process is to "map" them out on a chart. Once you have identified and labeled the stakeholders, you can begin to understand their needs and positively engage them in the development of various aspects of your Strategic Meetings Management Program.

Identify those who are:

  • Key decision makers (Director of Meetings, Top budget owners/clients, Procurement)
  • Key influencers (Key Internal clients, executive/personal assistants, mid-level budget owners)
  • Extended team members (internal clients, legal, finance, travel, audit, communications)
  • Other stakeholders (occasional planners, personal assistants, important suppliers)
  • Positively impacted by the SMMP (Meeting planners, "power planners")
  • Perceived as negatively impacted by the SMMP (occasional planners, administrative coordinator

There will be stakeholders who will try to undermine the development of your SMM. Do not dismiss them, keep them involved as part of the process so you can understand their concerns and eventually gain their support. You might want to keep this quote in mind "Keep your friends close and your enemies closer" (Sun Tzu, "The Art of War") when dealing with stakeholders who are limited at negative supporters.

 

Now that you have acknowledged that there are a variety of stakeholders with various roles and ability to impact your program, what do you do with this information? Engage them in the process and begin to understand their needs and business requirements. The level of engagement varies based on the category of stakeholder they are. For example, key decision makers and key influencers would become part of your core team, those who will help design the strategy and approach to the SMMP. They would be the beneficiaries of frequent communications and be invited to participate in regularly scheduled core team meetings. Extended team members would be asked to participate in periodic, targeted meetings that would focus on their area of expertise in order to get their feedback and input on specific aspects of the SMM design or process.

 

For those identified as stakeholders who are positive influencers, you might consider inviting them to focus groups that would also include some of the negative or limited supporters. Use those who are constructively engaged to help share the positive aspects of the SMM. they can spread the message that the program will benefit the company by reducing risk and eliminating the need for occasional planners to negotiate complex hotel contracts.

   

So far we have identified and engaged the stakeholder, now we need to develop a communication plan to keep them informed. Don't be intimidated by a developing a communication plan. Simply take an hour or two to determine to whom it should be directed, what should be communicated, the method and frequency of communication and any action required. If you are a director of meetings, your own team is a set of stakeholders, don't forget about them. Engage them, frequently communicate and ask for feedback. 

SiMMPle Tips:


Tip #1: Identify and engage stakeholders at the start of the SMM development process   

 

Tip #2:  Keep your friends close and your enemies closer  


Tip #3:
Remember that everyone in the company who plans meetings is a stakeholder; so be sure to communicate broadly and frequently throughout the organization  
Did you know...

AIG resumed holding business development, leadership meetings it considers standard practice in the financial-services industry. Good!   "We are back to the business of being in business and we're in the marketplace competing," according to a spokesman.

   

The Hyatt Regency New Orleans reopened on October 19 since being closed in 2005 as a result of Hurricane Katrina. The hotel offers 1,193 guest rooms and more than 200,000 square feet of function space.

 

Loews Hotels President and Chief Operating Officer Jack Adler will retire from the company early next year.  

 


Warm regards,  

 

 

Sincerely,
Betsy Bondurant, CMM, CTE
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Contact Information:
betsy@bondurantconsulting.com
phone: 619.701.7709

 

About Bondurant Consulting
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Bondurant Consulting provides the following services:  

  • Assessment of SMMP potential for your organization   
  • Development and implementation of SMMP for meeting & travel managers
  • Training programs for hotel companies and 3rd party meeting planning agencies which increase their understanding of Strategic Meetings Management, resulting in more successful engagements with clients who are involved with SMM 

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