A stakeholder is an individual or a group that holds a stake or, in other words, an interest in an organisation’s activities. Stakeholders can come from almost every area in which an organisation exists and operates: they can, for example, be employees, suppliers or customers; consumers, unions or legislators; banks, competitors or shareholders. Engaging and communicating with stakeholders is a fundamental ‘must’ for every organisation. Engagement goes beyond a simple exchange of information. Engagement involves listening, learning and collaborating with those who have a legitimate interest in an organisation’s activities, products and services. It is the process through which leaders (from CEOs to managers to team leaders) involve those people who may be affected by the decisions an organisation makes or might influence the implementation of the decisions. Stakeholder communication refers to all forms of communication-formal and informal-that leaders convey to the organisation’s stakeholders. Organisational communication can be considered a subset of the deeper role of stakeholder engagement, in which leaders play a critical role.

BPIR Categories

14.1.6 Communicate and use analysis findings
15.6.16 Governance/stakeholder trust in senior leaders
2.2.1 Obtain stakeholder input into strategy formulation
2.5.1 Communicate policies & strategies
3.2.5 Involve stakeholders in innovation & product/service development
8.2.1 Leaders communicate with employees
9.2.4 Communicate objectives/goals & metrics
9.7.2 Provide mechanisms for internal communication

Unlock this article and 10,000+ more

To get the most out of our extensive resources, please login or become a member below.

OR
X
X