Overview of English heritage
English heritage is a charitable company which works for managing and caring historic buildings, sites and monuments who are present in the nation from more than 5000 years. This company is managing approximately 400 ho9storical places and sites. This company was established in 1983 and headquartered in Swindon, United Kingdom. The company mainly aims to make historic places safe so that future generation will not only see it in books. It can be said that this will help people in realising how much beauty is available in their own country. Along with this, the activity for preserving historical monuments also increases flow of tourism in the country. The company is using skilled employees who works as a volunteer so that they can manage every activity effectively. In this, Board of trustees mainly delegates responsibility among the volunteers which helps them in performing special work that is preserving monuments of the company.
Preventive measures taken by English Heritage for improving sustainability
Every organisation aims to increase sustainability whether they belongs to any private sector or public one. It is responsibility of the every organisation to monitors its operational activities as well as work of employees. It is essential for the organisation to perform their work effectively in order to avail best class services to the customers. Along with this, it is important for its all volunteers to get effectively training and instruction from the senior authority which will helps them in improving their skills that can contribute in influencing interest of visitors during their visit. Certain preventive measures which are adopted by English Heritage in improving its sustainability are described as below:
Valuing volunteers: English Heritage is presently owning approximately 3000 volunteers which are playing their job responsibility very effectively. Board of trustees of this organisation are giving more preference to the volunteers in order to make them understand they are considered as the valuable asset of the company. It can be said that this preventive measure is helps organisation in improving its sustainability as its volunteers are satisfied and as a result they will perform their job responsibility in more effective manner. This also improves their working pattern when they are handling visitors at the site locations.
Collaboration with local communities: Another preventive measure which is taken by English Heritage is collaboration with the local community which belongs to the place where some historical moment had took place. This helps organisation in conducting an effective research about the history which executed their. As a result, it helps volunteers in knowing true information regarding historical stories. This gathered information is helpful for the company to use all of the knowledge while sharing similar information with the customers or visitors. It can be said that this will contribute in satisfying visitors at highest level which will be influences sustainability ratio of English heritage in positive manner.
Mission and strategic objectives
Main objective of English Heritage is to preserve historical building and sites so that it will remain safe for the future. The aim of the company is to change the thought of people to learn about their heritage in books. They believes in giving high range of experience to the visitors by availing them similar place to visit where history was happened in the past. It also helps visitor in valuing the experience, imagination, fun, responsibility and quality. The strategic objective of the company is to make the people of England experience where the actual story of England happened in the past years. This objective of the company can be executed with the help of skilled and talented volunteers. The company also believes in providing authentic details of historical places to the visitors as they completely avoids fictions and other irrelevant stories which might change the track of customers imagination. Hence, for this its volunteers conducts an effective for finding out true stories about history.
Acknowledgement charity status
English heritage is operating its operational activities in England that belongs to charitable sectors. This organisation is taking care of approximately 400 historical monuments, locations and site which are considered as great symbol of the historical which are executed in the same country. The company also conducts various activities for raising fund in order to contribute some amount for preserving historical monument.
Corporate governance refers to set of rules and system through which an organisation is monitored and controlled. It makes an specific balance for the company in order to balance its stakeholders that is customers, financiers, trustees, community and many more. In relation to English Heritage, it can be said that the company requires good level of corporate governance. As, the government of England is investing some amount of money in the same company so that this organisation can secure maximum number of historical places. It can be said that, all the activities of English Heritage is monitored by its board of trustees who are appointed for 4 years. These trustees also gets training from all the senior management team. After completion of the training duration, these trustees monitors all the activities are performed by volunteers.
In addition to this, activities of English Heritage are also monitored by the government as this firm is executing its activities for the social cause that is preserving historical places. For this, the company is collecting funds from the local citizens, private companies, residential area and business places who can contributes in attaining targeted goal that is desired fund which is used by the company for preserving social responsibilities. This collected fund is monitored by the government that it is further used for the similar objective or not.
Implications of having to observe these standards.
Implementation of all the corporate governance activities are considered as an important activity. As if these activities are not implemented properly then it might impact negatively on performance of English Heritage. As per the evaluation, it can be said that this company has implemented corporate governance activities effectively. Because, as per the observance it has been seen that all trustees as well as employees are performing business activities effectively in the firm. They also avail high quality of services to visitors and also makes them feel real life experience of historical. It directly converts visit of travellers enjoyable that helps them in making their trip memorable. Along with this, it increases their interest toward the services of company more effective which makes them realising actual history of England.
Identify the key stakeholders to the English Heritage, then using relevant theory evaluate the level of impact these stakeholders can have on an organisation
English Heritage is a registered charity responsible for managing the National Heritage Collection. The trust cares for over 400 historic buildings, monuments and sites including world famous prehistoric sites, grand medieval castles, Cold War bunker, Roman forts on the edges of the empire etc. Through these, the company brings life to the historic story of England for more than 10 million people every year.
English Heritage works with public limited companies to offer recommendation on the management of areas which like local improvement framework , giving advices on planning policies. Also, the company works for ensuring security, maintenance and management of the heritage forts. The organisation works along with the help of local authorities to manage historic atmosphere of different locations. The current responsibilities and duties of English Heritage is to protect the expensive history of UK for current and future generations. The government of UK spends £80 million for the company so that it can take measures to preserve the heritage of England. With the help of this investment, company utilises the finance to increase the funding of third party. Such parties aid the company in protecting the heritage buildings and places of country. Organisation also gets benefited by legislative laws as they apply all the rules and regulations prescribed by government for heritage organisation during the preservation of heritage places.
Stakeholders are the individuals or group of people that influence or are influenced by the policies, decisions and objectives of company. These are the persons, group of individuals or financial institutions that possess an interest or concern in the organisation. Some examples of stakeholders are owners, shareholders, investors, customers, government, financial institutions, banks etc. Key stakeholders is a subset of stakeholders who possess the power to encourage or prevent an organisation in achievement of desired results. In relation to English Heritage, the key stakeholders identified are owners, Board of Trustees, members, local authorities, government etc.
It is imperative to identify stakeholders and to manage them in order to ensure high chances of success of projects or business. Also, it is necessary to ensure that business utilise optimum resources as they are limited in relation to unlimited human wants. The management of time and money along with stakeholder is essential for any business entity to remain in market for long run. For this purpose, Mendelow's Stakeholder Mapping Model is used by entities. As per this model, it is essential to analyse the stakeholder groups based on Power and Interest. Here, power refers to the ability to influence the organisational strategy or project resources while interest is concerned with the extent of concern that they possess in a project or the organisation. Although all the stakeholders may seem to possess a strong power or high interest in the company but it is also true that the extent of interest and power vested with each stakeholder varies. English Heritage uses Shareholder Mapping model to ascertain the extent of interest and power of key stakeholders in company.
Mendelow's Matrix is based on Power and Interest. It allows the organisation to identify those stakeholders that are incredibly important to the company possessing High Power and High Interest. Such stakeholders need to be managed closely and huge amount of time and resources are to be vested in them. It is essential to keep these stakeholders informed almost on daily basis as they are a priority to company. On the other hand, those stakeholders with low power and low interest should be analysed and monitored but minimal effort should be put upon them in terms of time and money.
On the basis of interest and power, a grid is created to classify the key stakeholders explained below:-
- High power, highly interested people (Manage Closely): The stakeholders who belong to this group are key to the success of an entity. Organisation aim at fully engaging these individuals, group of people or financial institutions and make greatest efforts to satisfy them. In respect of English Heritage, the stakeholders belonging to this group are owners, Board of trustees and members of the charity organisation. These are largely responsible for the efficient management of company and are highly directed towards the preservation of heritage of UK for current and future generations.
- High power, less interested people (Keep Satisfied): The stakeholders belonging to this group are essential to the company as they possess high power towards the functioning of enterprise. Thus, an enterprise puts a lot of efforts while working with these people so as to ensure that they are satisfied. In relation to English Heritage, the stakeholders that come under this group are mass media and government. These two possess high power that can influence the operations of company but are less interested to interrupt in the functioning if the trust is conducting its operations ethically.
- Low power, highly interested people (Keep Informed): The stakeholders coming under this group are highly interested in the operations and policies of company yet they possess low power in relation to that. The people belonging to this group are adequately informed and constantly talked to so as to ensure that no major issues are arising. In relation to English Heritage, the stakeholder of this sector are Solicitors. They possess less power in terms of control of company but still they are equally important for the operations of enterprise.
- Low power, less interested people (Monitor): The stakeholders belonging to this group have low power and less interest in company. It is essential for the entities to ensure that these stakeholder groups are not involved in excessive communication. keep an eye to check if their levels of interest or power change.
As per the above mentioned information of English Heritage, it has been identified that this company is mainly taking care of historical places, monuments, and other site locations of England. It includes preventive measures such as valuing volunteers and collaboration with local community which are taken by company in order to improve its sustainability ratio. It has been seen that mission and strategic objective is to avail best experience to visitors when they visit historical places. It has been observed that with the help of corporate governance charitable companies can improve their services which are offered to customers.