Professional Documents
Culture Documents
Key Concepts
Stakeholders
Stakeholder Analysis
Communication Techniques
Stakeholder Relations
Corporate Reputation
Organizational Trust
Corporate Social Responsibility
CSR Reporting
What is Stakeholder?
Edward Freeman in his a book Strategic Management: A
Stakeholder Approach (1984): Stakeholder is any group or
individual who can affect or is affected by the achievements
of the organizations objectives.
Stakeholders can influence the environment of an
organization and then financial and operating performance.
Thus, effective management of stakeholder relations is
growing as a key focus of PR and organization activity.
Stakeholders may change overtime and their importance
can vary from issue to issue and from time to time (Mitchell,
Agle & Wood, 1997).
Stakeholder PUBLIC, but sometime the distinctions are
blurred and can be used interchangeably.
Typical Stakeholders
Require Effective
Communication, incl.
Segmentation of
Messages
PR Challenge &
Opportunity
Stakeholder's
Potential for
Cooperation
High
Low
High
Stakeholder Type 4:
Mixed Strategy:
COLLABORATE
Stakeholder Type 3:
Unsupportive Strategy:
DEFEND
Low
Stakeholder Type 1:
Supportive Strategy:
INVOLVE
Stakeholder Type 2:
Marginal Strategy:
MONITOR
Communication Techniques
Face-to-face meetings or briefings
Newsletters and background information in brochures, reports, etc. targeted at
specific stakeholder groups
Invitations to attend events such as product launches, sponsored events, charity
activities, etc.
Site visits and open days
Discount offers to members or shareholders
Website pages containing relevant information ie. online newsroom for media
Email information updates
Social media ie. blogs, twitter, wikis, etc.
5. Implement generic
strategies
Feedback
Supportive
Non-Supportive
Mixed blessing
Marginal
4. Formulate generic
stakeholder mgt strategies:
-
Involve supporters
Defend against non-supporters
Collaborate with mixed-blessings
Monitor marginals
Ethical
Employees/Workplace
Financial Performance
Leadership
Management
Social Responsibility
Customer Focus
Quality
Reliability
Emotional Appeal
Organizational Trust
Trust depends on history of interactions between a company and its
stakeholders, and it is developed when behavior matches expectations.
Trust is related to reputation and ethics.
Being trustworthy generates positive benefits for company.
What is TRUST? Trust is willingness to accept vulnerability based upon
positive expectations about anothers behavior.
Rawlin (2007): For organizations, trust is necessary for cooperation and
communication, and the foundation for productive relationships.
Trust is essential for stakeholder relations; fostering good relationships is
the key function of PR. So then, trust is central to effective PR.
CSR Reporting
Formal reporting:
CSR as part of Annual Report
Sustainability Report, Corporate Responsibility Report and Environmental Overview
Mostly consist of combination of texts and plenty of visual element
Website Reporting
Triple Bottom Line Reporting: (1) Economic measures; (2) Social measures; (3) Environmental measures
Global Reporting Initiative (GRI): (1) Economic indicators; (2) Social indicators; (3) Environmental
indicators
CSR Evaluation:
Hard to measure.
Most common measures: feedback from projects, employee attitudes, community stakeholder
attitudes, internal customer satisfaction, 3rd party advocacy support, government attitudes, external
customer attitudes and benchmarking (Center for Corporate Public Affairs, 2007).
None of these are hard measures that enable companies to directly relate CSR outcomes to revenue
or profitability.
Thank You