CIMA SCS November 2026 and February 2027 | E3 Strategic Management
Vennlisk’s strategic decisions affect more than its financial performance. They also influence employees, clients, callers, shareholders and other stakeholders.
For example, introducing artificial intelligence could improve efficiency and profitability, but it could also change employees’ responsibilities and the experience customers receive.
This is why stakeholder analysis is important for the CIMA Strategic Case Study November 2026 and February 2027 exams.
At SCS level, students should not simply identify stakeholders or memorise Mendelow’s Matrix.
The important question is: Who is affected by a decision, what do they want, and how should Vennlisk manage their interests?
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1. Who Are Vennlisk’s Main Stakeholders?
Stakeholders are individuals or groups who can affect, or are affected by, an organisation’s activities and decisions.
Vennlisk has several important stakeholder groups.
| Stakeholder | Main interests |
|---|---|
| Shareholders | Profitability, dividends, growth and shareholder value |
| Employees | Pay, job security, training and working conditions |
| Clients | Service quality, reliability, pricing and data protection |
| Callers | Quick, accurate, secure and helpful customer service |
| Board of Directors | Strategy, performance, governance and risk |
| Regulators | Compliance with relevant laws and regulations |
| Suppliers | Commercial relationships and payments |
| Communities | Responsible business behaviour and social contribution |
These interests may not always align, creating challenges for Vennlisk’s management.
The pre-seen does not provide an official ranking of these stakeholders. Their relative importance must be assessed according to the situation.
2. Shareholders
Vennlisk is a quoted company, making shareholders an important stakeholder group.
Shareholders are likely to focus on profitability, dividends, business growth and long-term returns.
Vennlisk’s share price briefly exceeded W$500 in 2022 before declining to around W$100, with concerns about overseas competition contributing to the fall.
This highlights the importance of maintaining investor confidence.
What Might Shareholders Want?
Shareholders may support investments that improve productivity and future cash flows.
For example, they could welcome an AI investment if it reduces operating costs and improves competitiveness.
However, they may also be concerned about implementation costs, financial risk and uncertain returns.
Board implication: Vennlisk should evaluate major investment proposals based on expected financial returns, strategic benefits and risks rather than simply following industry trends.
3. Employees
Employees are central to Vennlisk’s business model.
The company employs 5,000 agents across five call centres and invests significantly in training and development.
Its success depends heavily on retaining experienced employees who can provide high-quality customer service.
What Do Employees Want?
Employees are likely to value competitive remuneration, career development, job security, fair performance assessment and healthy working conditions.
The pre-seen identifies employee retention, demotivation and health and safety as important risks.
How Could AI Affect Employees?
AI could improve employee productivity by providing information and recommendations during customer calls.
However, employees may become concerned about changes to their responsibilities, performance monitoring or future job security.
The pre-seen does not state that Vennlisk plans to replace its workforce with AI. It explains that the company is evaluating technology to support and manage agents’ activities.
Board implication: Vennlisk should communicate clearly with employees, provide appropriate training and involve them in major operational changes.
This could reduce resistance and improve the chances of successful implementation.
4. Clients
Vennlisk’s clients are the organisations that outsource their inbound customer service operations.
These include businesses in banking, insurance, healthcare, utilities, online retail and other sectors.
Clients generate Vennlisk’s revenue, making them particularly important stakeholders.
What Do Clients Want?
Clients are likely to expect reliable service, competitive pricing, accurate information, customer satisfaction and effective data protection.
When a Vennlisk agent handles a call, the interaction can influence the caller’s opinion of the client organisation.
Poor service could therefore damage both Vennlisk’s reputation and its client’s customer relationships.
Client Power and Contract Negotiations
Clients may have alternative providers, including Ringcoll and overseas call centres.
This could give them bargaining power when negotiating contracts.
For example, a major client may request lower prices or improved service levels.
Vennlisk should consider the profitability and strategic importance of the contract before agreeing to concessions.
Board implication: Vennlisk should maintain strong client relationships while ensuring that contracts remain commercially attractive.
5. Callers
Callers are the individuals who contact Vennlisk’s call centres.
They are usually customers or other stakeholders of Vennlisk’s clients rather than Vennlisk’s direct paying customers.
However, their experience is essential to the company’s service quality.
What Do Callers Want?
Callers may expect short waiting times, accurate information, privacy, empathy and quick resolution of their enquiries.
Different callers may have different needs.
For example, someone checking a simple account balance may prefer an automated service.
An insurance customer reporting an accident may value speaking to a trained agent who can provide reassurance.
How Could AI Affect Callers?
Some callers may appreciate faster responses through automated systems.
Others may become frustrated if they cannot speak to a human agent when needed.
Board implication: Vennlisk should use technology where it improves customer experience while maintaining human support for situations that require judgement or empathy.
6. The Board of Directors
The Board is responsible for overseeing Vennlisk’s strategy, performance and governance.
This is particularly important for SCS students because the pre-seen places candidates in the role of a senior finance manager who reports directly to the Board and advises on strategic matters.
The Board needs information about financial returns, business risks, stakeholder interests and implementation requirements.
For example, when considering an AI investment, directors should understand its financial benefits alongside the potential effects on employees, clients and callers.
SCS exam lesson: Your answers should provide balanced advice to the Board rather than simply describe stakeholder theory.
7. Regulators and Communities
Vennlisk must comply with relevant legal and contractual requirements, particularly those relating to personal data.
Regulators are important because a serious compliance failure could result in legal consequences and reputational damage.
Vennlisk also recognises communities as part of its sustainability responsibilities.
The pre-seen explains that the company supports vulnerable communities and encourages employee involvement in community activities.
These stakeholders may not influence every daily decision, but their interests can become important when considering privacy, sustainability and corporate responsibility.
8. The Most Important Stakeholder Conflicts at Vennlisk
Stakeholder analysis becomes particularly useful when different groups have conflicting interests.
| Stakeholder conflict | Potential issue | Management response |
|---|---|---|
| Shareholders vs Employees | Pressure to reduce labour costs while protecting pay and job security | Improve efficiency without unnecessarily damaging employee morale or service quality |
| Clients vs Shareholders | Clients want lower prices, but shareholders expect profitable returns | Assess contract profitability before offering discounts |
| Productivity vs Employee Welfare | Higher call volumes may increase workload and stress | Balance productivity targets with appropriate breaks and employee wellbeing |
| Automation vs Human Service | AI may reduce costs but affect employee and caller experiences | Use automation where suitable while retaining human support |
| Dividends vs Investment | Shareholders may want dividends while the business needs investment funds | Balance current returns with long-term growth opportunities |
Example: Shareholders vs Employees
Imagine Vennlisk considers reducing employee training expenditure to improve profitability.
Shareholders may welcome the immediate cost reduction.
However, employees could receive less development support, and service quality may deteriorate.
If this results in client dissatisfaction or lost contracts, future profitability could suffer.
The Board must therefore consider the long-term consequences rather than focusing only on immediate savings.
9. Applying Mendelow’s Matrix to Vennlisk
Mendelow’s Matrix classifies stakeholders according to their level of power and interest.
It contains four categories:
| Power and interest | Recommended approach |
|---|---|
| High power, high interest | Manage closely |
| High power, low interest | Keep satisfied |
| Low power, high interest | Keep informed |
| Low power, low interest | Monitor |
Possible Vennlisk Stakeholder Classification
| Stakeholder | Possible position | Reason |
|---|---|---|
| Board | High power, high interest | Responsible for strategic decisions |
| Major shareholders | High power, high interest | Can influence governance and strategic direction |
| Major clients | High power, high interest | Important contracts and revenue |
| Employees | Lower individual power, high interest | Directly affected by operational changes |
| Callers | Low individual power, high interest | Directly experience the service |
| Regulators | High power, varying interest | Can enforce legal requirements |
| Communities | Generally lower direct power, varying interest | Interested in responsible business behaviour |
These classifications are analytical examples rather than official CIMA classifications.
Stakeholder Power Can Change
Stakeholder influence depends on the situation.
For example, if a major client threatens to terminate its contract, that client’s bargaining power becomes particularly important.
If Vennlisk experiences a serious privacy incident, regulators could become a key stakeholder group.
Similarly, employees may gain greater influence if their specialist skills are essential to delivering an important contract.
SCS exam lesson: Do not memorise a fixed Mendelow’s Matrix for Vennlisk. Consider which stakeholders have the greatest influence over the specific decision being evaluated.
10. How Could Stakeholder Analysis Appear in the CIMA SCS Exam?
A future unseen scenario could introduce employee restructuring, AI implementation, a major client negotiation, shareholder pressure or a sustainability investment.
These are possible practice scenarios, not exam predictions.
Students may need to explain stakeholder concerns and recommend how management should respond.
Example CIMA SCS Question
Vennlisk’s Board is considering introducing an AI system that will change how agents handle customer calls.
Evaluate the potential stakeholder concerns and recommend how Vennlisk should manage the implementation.
Example SCS Answer
Introducing AI could create different concerns among Vennlisk’s stakeholders.
Shareholders may support the investment if it improves productivity, reduces costs and generates attractive financial returns.
However, employees may be concerned about how AI will affect their responsibilities and performance monitoring.
As Vennlisk relies heavily on trained agents to deliver quality customer service, employee resistance or poor morale could affect the success of the project.
Management should therefore communicate the objectives of the investment, involve employees in testing and provide appropriate training.
Clients may welcome improved efficiency but will expect service quality and data privacy to be maintained.
Vennlisk should consult key clients and monitor customer service performance during implementation.
Callers may benefit from faster responses, but some may still require human assistance for complex enquiries.
The system should therefore allow appropriate access to trained agents.
Recommendation: Vennlisk should introduce AI through a controlled implementation that considers financial returns, employee engagement, client requirements and customer experience.
Why Is This a Strong SCS Answer?
The answer identifies relevant stakeholders and explains how the proposal affects each group.
It also recognises conflicting interests and provides practical recommendations.
This is more useful than simply listing stakeholders or reproducing Mendelow’s Matrix.
11. E3, P3 and F3 Connections
| Subject | Relevant areas |
|---|---|
| E3 – Strategic Management | Stakeholder management, leadership, organisational change and strategic implementation |
| P3 – Risk Management | Governance, privacy, employee risk and reputational risk |
| F3 – Financial Strategy | Shareholder value, investment decisions, dividends and financing |
Stakeholder analysis connects all three areas because strategic decisions often create financial, operational and people-related consequences.
Final Thoughts
Vennlisk’s stakeholders have different expectations.
Shareholders want sustainable returns, employees value development and job security, clients expect reliable services, and callers want positive customer experiences.
The Board must consider these interests when making strategic decisions.
For CIMA SCS students, the key lesson is that stakeholder management is about understanding interests, recognising conflicts and recommending practical actions.
When evaluating a proposal, always ask:
Who will be affected, how might they react, and what should Vennlisk do to manage their concerns?
Frequently Asked Questions
1. Who are Vennlisk’s main stakeholders?
Vennlisk’s main stakeholders include shareholders, employees, clients, callers, the Board, regulators, suppliers and communities.
2. Why are employees important stakeholders for Vennlisk?
Vennlisk employs 5,000 agents and depends on trained employees to deliver its services. Employee retention, motivation and welfare are important business considerations.
3. Why are Vennlisk’s clients powerful?
Clients provide revenue and may have alternative call centre providers. Their influence depends on contract importance and available alternatives.
4. Are callers Vennlisk’s customers?
Callers are generally customers or other stakeholders of Vennlisk’s clients. However, they directly experience Vennlisk’s services, making them important stakeholders.
5. How could AI create stakeholder conflicts at Vennlisk?
AI could improve efficiency but also create concerns about employee roles, customer experience, privacy and investment returns.
6. Should students use Mendelow’s Matrix in the SCS exam?
Yes, when relevant. However, students should focus on stakeholder impact and practical recommendations rather than simply reproducing the framework.
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