CIPS Level 2 - Stakeholder Relationships [L2M3]

About this course

In any organisation, much of the procurement and supply function is based around the development and maintenance of relationships with internal or external stakeholders. This module is designed for those involved in procurement and supply operations who must identify stakeholders and key market factors affecting success. They must also know the communication tools and techniques that will ensure successful working relationships.On completion of this module, you should be able to define stakeholders and explain the key market factors that impact the procurement and supply function. You should also be able to describe the role of effective communication in the successful development and maintenance of internal and external relationships.Did you know: Patagonia’s strong stakeholder relationships, particularly with customers and environmental partners, directly contributed to 14% annual growth in revenue between 2016 and 2019, even as the retail clothing industry grew by only about 3%. The company’s “Don’t Buy This Jacket” campaign, which encouraged consumers to repair rather than replace products, actually increased sales by 30% the following year. This counterintuitive result was driven by trust and authenticity with stakeholders.By deeply aligning its actions with stakeholder values, from customers to environmental NGOs, Patagonia turned social and ecological responsibility into measurable business success.Ok, we have a. lot of ground to cover, so let's get started.