BSG is a South African consulting and technology company that strives to make an impact towards positive change. They were contracted to deal with the stakeholder management of a leading global banking group. The group is required to comply with various regulations and governance requirements. To ensure this, the group published a policy on sanctions and prohibitions of business activities. BSG was then contracted to achieve compliance with the policy within the banking group's emerging market operations. During the process, BSG noted that the flow of information between the stakeholder groups was unclear and that inconsistent information was being disseminated, which resulted in confusion and misunderstandings. BSG identified stakeholder management as a key factor to address the challenge, and, based on a stakeholder analysis, compiled a plan to ensure that communication from the South African team to stakeholders is delivered regularly, accurately and consistently. Meetings were held with key stakeholders, and face-to-face interactions with stakeholders were identified as pivotal relationship-building activities, allowing the team to establish relationships with the people who are ultimately impacted by the changes introduced. The intimate knowledge these stakeholders had of the business, its constraints and challenges and the operating environment was crucial-not only in designing an effective solution, but also in obtaining commitment and buy-in to the change from the business users. Effective relationships in the business areas enabled BSG to gather specific information regarding systems, processes, constraints and challenges in each country and ensured a team of committed individuals in each country, which played a major role in translating the high-level requirements into effective business activities. Through the creation of a sound communication plan, which defined stakeholders in terms of their responsibilities and expectations, taking into account communication requirements and constraints, the programme team was able to effectively manage the expectations of key stakeholders. Through regular and consistent communications, expectations, risks and delivery were all successfully managed. BSG thus executed their task by grouping together communications and requirements. Without such stakeholder management-in which communication played a key role-the overall objectives of the sanctions programme would not have been met.
BSG is a South African consulting and technology company that strives to make an impact towards positive change.
They were contracted to deal with the stakeholder management of a leading global banking group. The group is required
to comply with various regulations and governance requirements. To ensure this, the group published a policy on
sanctions and prohibitions of business activities. BSG was then contracted to achieve compliance with the policy within
the banking group's emerging market operations. During the process, BSG noted that the flow of information between the
stakeholder groups was unclear and that inconsistent information was being disseminated, which resulted in confusion
and misunderstandings. BSG identified stakeholder management as a key factor to address the challenge, and, based on
a stakeholder analysis, compiled a plan to ensure that communication from the South African team to stakeholders is
delivered regularly, accurately and consistently. Meetings were held with key stakeholders, and face-to-face interactions
with stakeholders were identified as pivotal relationship-building activities, allowing the team to establish relationships
with the people who are ultimately impacted by the changes introduced. The intimate knowledge these stakeholders had
of the business, its constraints and challenges and the operating environment was crucial-not only in designing an
effective solution, but also in obtaining commitment and buy-in to the change from the business users. Effective
relationships in the business areas enabled BSG to gather specific information regarding systems, processes, constraints
and challenges in each country and ensured a team of committed individuals in each country, which played a major role
in translating the high-level requirements into effective business activities.
Through the creation of a sound communication plan, which defined stakeholders in terms of their responsibilities and
expectations, taking into account communication requirements and constraints, the programme team was able to
effectively manage the expectations of key stakeholders. Through regular and consistent communications, expectations,
risks and delivery were all successfully managed. BSG thus executed their task by grouping together communications
and requirements. Without such stakeholder management-in which communication played a key role-the overall
objectives of the sanctions programme would not have been met.
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