1st September 2011
Successfully managing stakeholder relationships is vital to any organisation which not only wants to grow but also retain its customers. Defining stakeholder groups and their characteristics is the start of the process but going back to the basics of human cognitive behaviour is at the heart of it. In her article, Emma Kinani looks at to how to build up communications with stakeholder groups and the impact of social media tools.
The method of understanding and processing information determines the outcome – the purpose of the information, decoding the message, and dissemination. Similarly, organisations can use information to steer their business one way or the other to develop a form of relationship that will ultimately lead to business growth. No matter the nature of business, it is imperative to go back to basics and formulate a model that seeks to address the underlying motive. Organisations are built by people who have vision; they have goals, dreams and personal hopes to see their business grow and flourish. Philanthropic or otherwise, the result is the same for all – to make it work! Defining the stakeholders are, and how to manage both internal and external communications to engage both groups, is therefore vital.
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