Answered Essay: How would you handle the problem of differing customer and stakeholder expectations?

How would you handle the problem of differing customer and stakeholder expectations?

Expert Answer

Answer

– TRY TO ARRANGE A MEETING OF THE MAIN CUSTOMERS AND STAKE HOLDERS WHOSE EXPECTATIONS ARE GOING IN CONFLICTS.

– WE SHALL MAKE UNDERSTAND THE STAKEHOLDERS THAT ULTIMATELY OUR CUSTOMER SATISFACTIONS WILL GIVE FORCE TO OUR GROWTH AND VALUE MAXIMISATION.

– SHORT TERM PROFIT MAXIMISATION SHALL NOT BE PREVAILED OVER WEALTH MAXIMISATION AND FOR THAT PURPOSE WE NEED TO SATISFY AND SECURE OUR CUSTOMERS.

– TRY TO CONSOLE THEM THAT MANAGEMENT WILL NOT ACCEPT ANY CONDITIONS OF CUSTOMER WHICH IS NEEDS TO COMPROMISE ORGANISATION VALUES AND POLICIES.

– MAKE CUSTOMER UNDERSTAND THAT WHAT MAXIMUM YOU CAN DO FOR THEM.

– IT MAY BE POSSIBLE THAT STAKEHOLDERS BECOMES LESS SUPPORTIVE FOR LONG PROJECTS WITH CUSTOMERS. IN THAT CASE YOU CAN PRESENT THE EXPECTED NET INCOME GOING TO GENERATE FROM THAT PROJECT. GIVE THEM UPDATES OF PROJECTS REGULARLY AND KEEP ATTENTION, ASSURE THEM THAT THIS PROJECT WILL DEVELOP LONG TERM GOOD RELATIONSHIP AND TRUST BETWEEN BOTH PARTIES WHICH WILL BE HELPFUL FOT FUTURE BUSINESS GROWTH AND TRUST BUILDING.

– SOMETIMES STAKEHOLDERS FIND THE PROJECT RISKY WHICH OUR CUSTOMER WANTS TO DO WITH US.

IN SUCH SITUATION, FIRST ANALYSE THE PROJECT FROM ALL ANGLES, TRY TO FIND THE RESULT OF PROFIT OR LOSS IN CASE OF WORST SITUATION AND BEST SITUATION.

DRAW A STRATEGY TO MINIMISE THE RISK TO LOW LEVEL OR FIX THE RISK WITH DIFFRENT ACTION PLAN.

NOW DISCUSS ALL THAT WITH THE STAKEHOLDERS TO CONVINCE THEM THAT YOU ARE TAKING CALCULATIVE RISK TO EARN HUGE RETURN FROM THIS PROJECT.

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