509 Managing Stakeholder Relationships

Unit Overview

509 Managing Stakeholder Relationships is a critical unit within the CMI Level 5 module that improves the ability of the learners to build their capabilities in handling organisational roles and regulations. It is important for the organisation to facilitate collaborative working within the workplace. This involves being able to effectively communicate and interact with other stakeholders to ensure they are able to achieve the desired goals and objectives within the workplace. The process of ensuring that there is collaborative working involves being able to effectively manage relationships within the workplace.

The leaders need to develop effective approaches that ensure all stakeholders are involved in making important decisions within the workplace as well as facilitating the process of consulting and sharing information. The leaders must also facilitate the fulfillment of organisational roles and obligations to the workplace. this involves being able to effectively achieve the desired levels of interaction that contribute towards the accomplishment of the organisational goals and objectives.  509 Managing Stakeholder Relationships is one of the most critical units within leadership models that ensure the leaders are able to achieve the desired goals and objectives in relation to managing relationships with stakeholders.

The unit provides the learners with the opportunity to access critical information that supports the ability of individuals to achieve desired skills and knowledge to achieve the desired goals and objectives in achieving high levels of stakeholders. The engagement and positive relationship contribute towards designed goals and objectives. The unit also contributes to helping to prepare new and aspiring leaders to fulfill the obligations of the organisation to their stakeholders. The unit is taught in 18 hours of guided learning and contributes 4 credit values towards the completion of the CMI Level 5 module.

Suitability of the Module

Building relationships is a two-way necessity. Both parties in the relationship must understand the principles that guide and dictate the interactions developed within the relationship. This involves understanding the principles that guide the relationships that have been established between individuals. It is therefore important for different stakeholders to develop the desired levels of understanding of the relevant skills and knowledge. It improves the alignment to handling stakeholder effectively and facilitates the achievement of the desired relationships with stakeholders that contributes to the achievement of organisational goals and facilitate the satisfaction of the leaders within the workplace. This makes the unit suitable for the stakeholders involved within the workplace.

509 Managing Stakeholder Relationships is a unit that is designed to ensure that the leaders within the workplace are able to achieve the desired levels of facilitating effective stakeholder relationships with stakeholders. The unit helps to understand the methods and standards of interaction between the leaders in the workplace. The unit is designed to focus on middle managers within the workplace. It supports them to pursue the specific goals and objectives in ensuring they are able to accomplish their duties in their lines, departments, and regions. The unit is also suitable for the other stakeholders, including shareholders, senior and junior managers, employees, and external consultants who play a critical role within the workplace.

Learning Outcomes

Upon completion of the unit, the learners should be able to:

• Identify the different types of stakeholders within the organisation with whom they can form relationships

• Assess the benefits and challenges associated with working with the different stakeholders, including being able to achieve the desired obligations to the stakeholders

• Assess the contractual frameworks that guide stakeholders' engagement

• Understand the process of planning stakeholder engagement

• Understand the role of the manager in creating and sustaining stakeholders relationships within the workplace or in their areas of responsibility

• understand the use of collaborative working techniques and opt to ensure that they are able to achieve the desired levels of management of stakeholder relationships

• Identify methods that can be used to solve conflicts related to stakeholders' engagement

• Identify and assess the methods that can be used to measure the impact of stakeholders' engagement on the organisational and team performance

Key Learning Areas

509 Managing Stakeholder Relationships is a unit that aims at improving the understanding of both theories and principles of managing stakeholder engagement within the workplace. Some of the main areas of learning include:

Understanding Stakeholders’ Engagements

This area of learning focuses on understanding the various stakeholders and their impacts on the organisation. The process involves understanding the different types of stakeholders and relationships that should be developed with these stakeholders to ensure they achieve the desired standards of performance.

The learners are also guided to understand the principles and approaches that are used in solving conflicts with the stakeholders that could arise in the process of developing effective relationships. Learners are lastly trained to effectively handle their roles in managing relationships with the stakeholders. This involves understanding the principles of communication and approaches to motivating the stakeholders to take an active part in the completion of various duties and responsibilities.

Managing Stakeholders’ Engagements

This area includes understanding the different contractual formations that the leader should pursue in setting effective stakeholder engagement techniques and approaches. The learners are guided to understand techniques such as joint planning, sharing resources, pooling knowledge, coordinative activities, and monitoring progress which are all forms of collaborative working that could be established between the managers and different stakeholders within the workplace.

Monitoring the impact of stakeholder engagement within the organisation is critical, and the learners are guided to methods such as interviews, surveys, and receiving feedback as approaches to ensuring that they understand how the stakeholders impact the organisational and individual performances within the workplace. This aids in ensuring that they are able to create adjustments within the systems that ensure they succeed in attaining the desired performances.

Evaluation

On completing 509 Managing Stakeholder Relationships as a unit, the learners are required to exhibit the knowledge acquired by ensuring they are able to meet learning outcomes. They go through the assessment, which includes a written assessment. This tests both the theoretical understanding and practical concepts that have been taught within the unit.