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Solution
The Mendelow’s Matrix is an instrument for the analysis of key stakeholders with the help of distinguishing them according to the level of power and interest (Francis, 2016). This model enables one to know who to consider or prioritize in the procurement decision making process, or who will be affected by the decisions. In the context of the negotiation plan:
Figure 3: Mendelow’s Matrix
Source:MBA
High Power, High Interest (Manage Closely): Managers and directors who are directly involved in the decision-making process and are likely to benefit great deal greater from the negotiation than the other party such as the CPO.
High Power, Low Interest (Keep Satisfied): Board of directors of a firm or managers of an organization who set the general strategy of the negotiation but do not necessarily take part physically.
Low Power, High Interest (Keep Informed): Other organisational departments that should be informed include; Marketing department which is an internal department is an example of the many departments that are affected by procurement.
Low Power, Low Interest (Monitor): Those departments that are indirectly related such as the administrative department which only requires that their software be updated among others.
In this step, governance makes sure that the planning of negotiation is endorsed by the senior leadership of the organisation, and the key procurement and finance stakeholders attend the negotiation event on behalf of the organisation.
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