Learning Unit 2 Flashcards
(25 cards)
What are stakeholders?
Any group or individual who can affect or is affected by the achievement of the orgs purpose or objectives
What is SH engagement?
The process of including SH in the functioning of the org
- the process of involving and interacting with SH to further org aims
- orgs have to have access to current SH engagement before SH can be involved at any level
- can assess:
The level of policy commitment to SH
The no of SH engagement activities
Focus on performance outcomes
Critically discuss SH engagement and collaboration for developing a corporate communication strategy.
- contemporary orgs realize they need to comm with their SH to develop and protect their own reps
- this is achieved through SH engagement and collaboration.
- explain what SH collaboration is, what SH engagement is, what SH inclusiveness is
- differentiate between SH management and SH collaboration
What is stakeholder collaboration?
- the interaction companies have with their SH have on a continual and relational basis
- two way symmetrical model or dialogue whereby comm practitioners build SH relationships which are reciprocal
- increase emphasis on SH relationships across the org
- aim:
Build long term relationships
Seek out SHs interested in collaboration - dialogue with emphasis on bridging SH claims and interests
- orgs adapt activities by conforming with external expectations and claims of NB SH groups
- orgs should actively and quickly ID changing social expectations in order to promote org conformance to these expectations
What is stakeholder inclusiveness.
- focus is on designing and implementing your orgs comm strategy in such a way that’s always inclusive
- SH inclusive approach asserts that in practice, the legit interests/expectations of SH are considered when making decisions about the best interests of the business
- the integration of trade-offs between various SH are then made on a case-by-case basis, to serve the best interests of the business
- all comm strategies are geared toward comm messages to ID strategic SHs
Differentiate between SH management and SH collaboration.
STAKEHOLDER MANAGEMENT
- fragmented among various departments
- focus on managing relations
- buffer org from SH
- linked to short term business goals
- implementation dependent on depts interests and personal style of manager
STAKEHOLDER COLLABORATION
- integrated management approach
- focus on building relations
- bridging and creating opportunities and mutual benefits
- linked to long term business goals
- coherent approach driven by mission, values and corporate strategies
What is the input-output model.
- the purpose of org is to make profits
- accountable to themselves and shareholders
- org is centre of economy, power lies with org, bulk of benefits go to customers
Draw the input output model ***
Explain the SH model of strategic management.
- other SHs also “count”
- they’re NB for continuity of org and welfare of society
- all SHs who hold legit interests in an org obtain benefits
- model recognizes mutual dependencies between the groups
Draw the SH model of strategic management***
Explain the differences between the input output model and SH model of strategic management.
- i-o model looks at instrumental SH strategic mgt model looks at normative SH
- strat mgt model has mutual dependencies
- i-o model benefits customers, strat mgt model benefits all SH
- i-o model = one way comm, other model has two way comm
Explain the significance of the SH strategic management model.
- fundamentally changes operations of business
- all SH must find the org to be legitimate
- more complex for org because org is obligated to listen to all SH issues, complaints and needs that are legitimate (justifiable, reasonable, logical)
Explain the two ways of looking at stakes.
INTERESTS
Do the stakes have a financial/economic or moral interest
TIES
Do they have contractual ties or community/social ties
Contractual Stakeholders
- customers
- employees
- distributors
- suppliers
- stakeholders
Community Stakeholder
- consumers
- regulators
- government
- media
- local community
What is the stakeholder engagement framework applied to practical scenarios.
SH engagement standard exposure
- framework for successful engagement
- used to drive strategic direction and operational excellence which leads to sustainable development
Explain the three principles the SH engagement framework applied to practical scenarios.
MATERIALITY
Knowing SH and org material concerns
COMPLETENESS
Understanding SH concerns and expectations
RESPONSIVENESS
Respond to SH and org material concerns
Explain the stakeholder engagement framework.
- SHs are becoming more inclusive therefore SH engagement = NB in transforming the org and SH engagement strategy
- review and adapt current org policies regarding SH
- shift toward building SH relationships through bottom up: participation, connectivity and dialogue
- collaboration, learning and innovation
- some SHs may form part of different SH groups at the same time - dynamic
- therefore indiv relationships can only be managed effectively by taking into account the wider system on which they are part of
- long term value creation in org is achieved through relationships with key SH which are achieved through cooperative planning and design efforts
List and explain the elements of the inner triangle
THINKING AND PLANNING
- Identify stakeholders
- Initial identification of material issues
- Determine engagement strategy, objectives and scope.
- Establish engagement plan and implementation schedules
PREPARING AND ENGAGEMENT
- Identify ways of engagement that work
- Build and strengthen capacity
- Engagement with stakeholders in ways that facilitate understanding, learning and improvement
RESPONDING AND MEASURING
- Operationalise, internalize and comm learning
- Measure and assess performance
- Assess, remap and redefine
What is a communication strategy.
- formulation and development of the desired corporate reputation of the org
- formulation based on gap between corporate reputation and vision
- possible courses of action are formulated, evaluated and chosen
- first need to analyse current corp reputation
- comm strat = functional and operational strategy that considers how to use comm programmes to achieve vision
- align corp reputation and vision to gain support of existing strategy/ reinforce reputations
- comm strat is NB to know target audience and to comm effectively
- key tool to align corp reputation and vision through process of inclusiveness
Explain how the process of comm strat development can ensure SH inclusiveness.
- ensure legitimate SHs are included in org and strategic decision making
- needs and values or legitimate SH have to be considered
- inclusiveness is in the best interest of org because it harbors support for org strat
- define org purpose, ethics and tactics to manage SH
- consider strat in relation to SH and org environment
- SH feel included and legitimize org and add to good rep
- corporate techniques need to be transparent and allow feedback
- generate/maintain mutual long term relationships
List the steps required to plan and execute comm programmes and campaigns.
Step 1: strategic intent Step 2: define comm objectives Step 3: identify and priorities target audiences Step 4: identify themed messages Step 5: develop message styles Step 6: develop media strategy Step 7: prepare the budget
Explain “Step 1: strategic intent” of the planning process for communication campaigns.
- consider org strategy and strategic intent
- gap between vision and reputation
- what are the org goals at reputation all level
Explain “Step 2: define comm objectives” of the planning process for communication campaigns.
- set specific objectives for comm programme or campaign based on strategic intent
- specific programmes for specific/target SHs
- define objectives
- explain what SMART objectives are
Explain “Step 3: identify and prioritize target audiences” of the planning process for communication campaigns.
- decide on SH group, don’t comm with all
- usually based on SH salience model and power interest matrix
- identify NB target audience and priorities for specific campaign
- target A = segement of individuals that are the focus of a campaign
Explain “Step 4: identify themed messages” of the planning process for communication campaigns.
- decidenon core messages based on comm objectives and target audience
- usually based on how the org wants to be seen
- themed messages may relate to the org as a whole or to specific areas
Explain “Step 5: develop Message styles” of the planning process for communication campaigns.
- message can be role in different ways
- appeal through frame of words and visual stimuli
- can use rational Message Style (financial news) or symbolic association style (events )
Explain “Step 6: develop media strategy” of the planning process for communication campaigns.
- identify media/medium that can carry Message
- must be effective and efficient
- must reach target audience (consider reach and coverage) within budgetary constraints
- consider ability of media to enable dialogue and interaction with audience
- omnichannel approach
