Internal and External Stakeholders Management
Other
Stakeholder management techniques and determining the most effective communication strategies are two of the most critical components of corporate communications. Managing and communicating with stakeholders can be challenging, as stakeholders can be highly diverse with potentially competing aims and objectives.
1A: Internal
Identify internal stakeholders for Wal-Mart and explain why the illustrated stakeholders are important, and then provide examples of communications to at least one of these groups. If you are unable to locate suitable examples, generate what you consider to be suitable examples of such communications.
1B:
Discuss with examples internal communications at Coca-Cola and explain whether you agree with explanation of the importance of the stakeholders and whether the communication example provided is appropriate for the target audience.
2A: External
Identify external stakeholders for Wal-Mart and explain why the illustrated stakeholders are important, and then provide examples of communications to at least one of these groups. If you are unable to locate suitable examples, generate what you consider to be suitable examples of such communications.
2B:
Discuss with examples external communications at Ford and explain whether you agree with explanation of the importance of the stakeholders and whether the communication example provided is appropriate for the target audience.
IMPORTANT:
Be sure you demonstrate critical thinking. It requires “rich and significant” details with a clear point of view. Evidence (citations and references for business journal articles and text) and examples should be used to support/defend your point of view and draw insightful conclusions. Demonstrate depth and thought by using citations and references.
You should also provide an example of a communication strategy with one stakeholder group for both internal and external stakeholders.
Select one stakeholder since different stakeholders have different needs. For instance, for external stakeholders, customers and investors do not necessarily have the same communication needs. Be sure you understand the difference between internal (employees, board) and external stakeholders (customers, community, shareholders, suppliers, government).
Be sure you use text, at minimum, as citation and reference on your work. Avoid blogs, websites selling services and other websites that may not be credible or reliable. Use business journal articles as supporting evidence. Company websites can be used but should not be the only source of information; it is a biased source.
