stakeholder management

1. MGMT 8320 Stakeholder Management
Name
Course
Instructor
Institution Affiliation
Date

2. Project Overview
Project Title: "Conestoga Productivity and Innovation Initiative"
Objective: Enhance Conestoga's economic productivity by diversifying into high-
value-added and labor-intensive sectors, leveraging technological advancements and
fostering innovation (Atkinson et al., 2022).
Key Components:
 Identify and invest in promising high-value-added and labor-intensive industries.
 Implement cutting-edge technologies to streamline operations and improve
efficiency.
 Establish an innovation hub to foster research, development, and collaboration
with academic and industrial partners.
 Provide training and upskilling programs to equip the workforce with the
necessary skills for emerging industries (WEF, 2023).

3. Budget
Proposed Budget: $375,000
Breakdown:
 Market research and industry analysis: $50,000
 Technology acquisition and implementation:
$150,000
 Innovation hub setup and operation: $100,000
 Workforce training and development: $75,000

4. Schedule
 Duration: 9 months
 Key Milestones:
 Month 1-2: Conduct market research and industry analysis.
 Month 3-4: Identify and select target industries and technologies.
 Month 5-6: Acquire and implement selected technologies.
 Month 7: Establish the innovation hub and initiate collaborations.
 Month 8-9: Develop and implement workforce training
programs.

5. Resourcing
 Project Team:
 Project Manager
 Market Research Analysts
 Technology Experts
 Innovation Hub Coordinator
 Training and Development Specialists
 Partnerships and Collaborations:
 Local universities and research institutions
 Industry associations and experts
 Government agencies and support programs

6. Risks
 Technological obsolescence: Continuous monitoring and
adaptation to emerging technologies.
 Market volatility: Diversification and flexibility to adapt to
changing market conditions.
 Talent acquisition and retention: Competitive compensation
packages and professional development opportunities.
 Regulatory and compliance challenges: Proactive engagement
with relevant authorities and adherence to regulations (Koh et al.,
2023).

7. Communication Plan
 Executive Steering Committee: Quarterly progress reports
and strategic discussions.
 Project Team: Weekly status meetings and collaborative
tools for seamless communication.
 Stakeholders and Partners: Regular updates, workshops,
and knowledge-sharing sessions (WEF, 2023).
 Public Relations: Press releases, social media campaigns,
and community engagement initiatives to promote the
project's impact and achievements.

8. References
 Atkinson, R. D., & Lind, M. (2022). Big is not inevitable: Small businesses and
the pursuit of innovation. Information Technology & Innovation Foundation.
https://itif.org/publications/2022/09/12/big-not-inevitable-small-businesses-and-
pursuit-innovation
 Koh, W. T. H., & Vicente, J. (2023). The productivity challenges of the transition
to the green economy. International Productivity Monitor, 44, 3-25.
https://doi.org/10.38027/IPM-N9044
 World Economic Forum. (2023). Upskilling for shared prosperity. World
Economic Forum. https://www.weforum.org/reports/upskilling-for-shared-
prosperity