Stakeholder Communication: Starbucks

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timer Asked: Jan 4th, 2019
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Question description

You will need to create two discussion threads for this discussion. Your first thread will be about internal stakeholders, and your second thread will be about external stakeholders. You must submit an initial post to BOTH threads. You must also post at least two replies: one about internal stakeholders and one about external stakeholders. This discussion is graded with the Threaded Discussion Rubric document.

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.

Thread 1: Internal

In your initial post, identify internal stakeholders for your selected company (Starbucks) 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.

Review at least one classmate’s communications and explain whether you agree with your classmate’s explanation of the importance of the stakeholders and whether the communication example provided is appropriate for the target audience.

Thread 2: External

In your initial post, identify external stakeholders for your selected company (Starbucks) 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.

Learning Objectives

  • Describe the internal and external stakeholder groups in which the corporation communicates
  • Explain the variety of methods of communication corporations use to engage with stakeholders
  • Explain the process used to select the appropriate channel of communication to engage with stakeholder groups

Reading and Resources

Required Resources

Textbook

Corporate Communication: A Guide to Theory and Practice, Chapter 4
While you read, consider the following questions:

  • What responsibility does the organization have to each specific stakeholder (e.g., economic, legal, ethical)?
  • What are the challenges/opportunities faced by the organization regarding each stakeholder?
  • What is the best communications method to use for stakeholders regarding the challenges/opportunities that each stakeholder presents?

eBook: Handbook of Corporate Communication and Public Relations: Pure and Applied

Differing Corporate Communication Practice in Successful and Unsuccessful Companies (pp. 167–183)

While you read, consider the following questions:

  • Do successful corporations tailor their communication to specific stakeholders? If so, how and why?
  • What differentiates the communication strategies of successful and unsuccessful companies?

eBook: Essentials of Corporate Communications

Chapter 8: Communicating With Key Stakeholders
While you read, consider the following questions:

  • Who are some of the key stakeholder groups?
  • Do all stakeholders have similar needs in terms of the information they require?
  • What are some of the ways information is disseminated to internal and/or external stakeholders?

Introduction Stakeholders can be defined as “any group or individual who can affect or is affected by the achievement of the organization’s objectives” (Cornelissen, 2014, p. 7). This module considers how corporations interact with their stakeholders, even when they have divergent interests. Who Are Stakeholders? Stakeholders represent a wide and usually diverse audience with varied and often competing interests. At one end of the spectrum, they could be individuals who are intimately associated with a company, such as employees, dealers, distributors, or franchisees. At the other end, they could be customers or corporate stakeholders with vested interests in the company, such as country partners, master licensees, regional representatives, or even government departments. Due to factors such as time or distance, corporate communications play a key role in creating value of association with stakeholder communities spread across the globe (Fernandez, 2004). Corporations typically make distinctions between internal (i.e., primary) stakeholders and external (i.e., secondary) stakeholders. Internal Versus External Stakeholder Communications Having both internal and external stakeholders means that the organization has to accept the need for different forms of relationships with its different stakeholders. The message to internal stakeholders may have to be slightly different than the one presented to external stakeholders. While the subject matter of the communication may be the same, the focus of the communication is often different. By way of example, consider a situation where some bad publicity has emerged. It could have to do with a leading executive or something that has occurred with the company’s product or service, or maybe something happened at an overseas subsidiary. No matter what the situation, communications will need to be sent to both internal and external stakeholders to notify them of the situation. • Internal Communication: An internal communication may provide more detail than just an overview of the issue, and it may provide guidelines for how employees should respond to inquiries regarding the situation. The goal of this communication is to ensure that all communications emanating from the company maintain a consistent message. In that regard, the purpose of the message is to inform and educate its target audience. • External Communication: The external communication on that same issue may provide an outline or summary of the situation, state the corporate position, and potentially justify its stance. It could also include contact information for the company public relations manager so external stakeholders know whom to direct enquiries to for further information. In that regard, the purpose of the message is to educate and persuade the target audience that the stance of the company on that issue is appropriate. Stakeholder Communication Strategy Once the company has identified its stakeholders, the next step is to evaluate the appropriate strategy to communicate with them. This strategy is dependent on the stakeholders’ interest with regard to the company. In other words, companies need to determine the stakeholder’s relationship with the company, analyze the stakeholder’s influence, and determine the appropriate type of communication based on the company’s relationship and influence. Examples: • Employees want to know that the company is retaining sufficient funds to ensure their employment combined with higher salaries going forward, which could translate to higher costs and lower levels of profit. • Investors, on the other hand, are likely to be interested in the distribution of profits in the form of dividends, profit growth that comes from higher sales, a reduction in costs, or higher prices for products and services supplied by the company. Lowering costs could, for example, involve moving jobs to an overseas location. • Customers would be interested in product enhancements and new and better products (both of which could involve increased research and development, potentially increasing costs) and are also likely to be interested in lower prices for those products (which could potentially reduce profits). • Local communities would be interested in matters related to the level of employment in the area and the preservation of the local environment, which can cause upward and downward pressures on profitability. • Governments would be interested in adherence to regulations, including labor laws, environment protection and industry standards, and the payment of taxes. Many of these could exert downward pressure on the profitability of the corporation, yet the government would also like higher profits, as this increases the tax receipts for governments, both local and federal. There are several strategies available when choosing the most effective communication strategy for the company or situation (Cornelissen, 2014): • Informational strategy: Used to simply inform internal and external stakeholders about an event or policy changes. This information is usually distributed via press release, blog, discussion, or a company report that is posted on the company website. • Persuasive strategy: Used when a company needs to change or formulate a perception or image of the company, with the goal of increasing the favorability of the company. The method used most often to accomplish this is face-to-face, as the company is trying to not only increase the stakeholders’ knowledge of the company, but also increase the reputation of its core values and products. Corporate advertising is yet another method used to instill a desired attitude regarding the company’s overall business performance. • Dialogue strategy: Involves two-way conversation with stakeholders with the goal of receiving and implementing valuable input. This strategy gives stakeholders a greater “claim” in the firm’s decisions, as they are part of the process. Two-way conversations can occur online through video conferencing or other social media options. Conclusion Corporations need to understand and consider the perspective of their various stakeholders. This, however, can sometimes create difficulties, as the interests of the stakeholders may be very different. McDonald’s, for example, would want to please its customers by offering low prices, but these could reduce profits. The company could increase its volume sales, but that is likely to require an increased advertising spend, thereby increasing costs. Shareholders want a good return on their investment, so they desire higher profits. If this cannot be achieved by raising prices, then one way to achieve it is by reducing costs, including staff salaries. However, that is likely to create issues with the company’s internal stakeholders, that is, their workers. Therefore, a corporation has to juggle these different interests and provide communications that keep them all informed, if not always happy. References Boundless. (2014, August). Internal stakeholders. Retrieved from https://www.boundless.com/management/ethics-in-business/businessstakeholders/internal-stakeholders/ Cornelissen, J. (2014). Corporate communication: A guide to theory & practice. London, UK: Sage. Fernandez, J. (2004). Corporate communications: A 21st century primer. New Delhi, India: Sage India Pvt Ltd.
MKT 690 Threaded Discussion Rubric Your active participation in the discussion topics is essential to your overall success this term. Discussion questions are designed to help you make meaningful connections between the course content and the larger concepts and goals of the course. These discussions offer you the opportunity to express your own thoughts, ask questions for clarification, and gain insight from your classmates’ responses and instructor’s guidance. Requirements for Threaded Discussion Topic Assignments These discussions require two initial posts. Students are required to create two threads in the discussion and make an initial post in each. They are also required to respond to at least two peers: one response in a peer’s thread about internal factors and one response in a peer’s thread about external factors. For your initial postin each thread,you must:  Compose a post ofone to two paragraphs  In Module One, complete the initial post by Thursday at 11:59 pm Eastern Time.  In Modules Two through Ten, complete the initial post by Thursday at 11:59 pm of your local time zone.  Take into consideration material such as course content and other discussion topics from the current module and previous modules, when appropriate Critical Elements Comprehension Thread 1 Comprehension Thread 2 Exemplary Develops an initial post with an organized, clear point of view or idea using rich and significant detail (100%) Develops an initial post with an organized, clear point of view or idea using rich and significant detail (100%) Timeliness Engagement Critical Thinking Provides relevant and meaningful response posts with clarifying explanation and detail (100%) Draws insightful conclusions Proficient Develops an initial post with a point of view or idea using appropriate detail (90%) For your response posts,you must:  Reply to at least two different classmates, at least one response in each thread  In Module One, complete the two response posts by Sunday at 11:59 pm Eastern Time.  In Modules Two through Ten, complete the two response posts by Sunday at 11:59 pm of your local time zone.  Demonstrate more depth and thought than simply stating“I agree” or “You are wrong.”Guidance is provided for you in each discussion prompt. Not Evident Does not develop an initial post with an organized point of view or idea (0%) Value 25 Does not develop an initial post with an organized point of view or idea (0%) 25 Submits initial post on time (100%) Provides relevant response posts with some explanation and detail (90%) Needs Improvement Develops an initial post with a point of view or idea but with some gaps in organization and detail (70%) Develops an initial post with a point of view or idea but with some gaps in organization and detail (70%) Submits initial post one day late (70%) Provides somewhat relevant response posts with some explanation and detail (70%) Submits initial post two or more days late (0%) Provides response posts that are generic with little explanation or detail (0%) 10 Draws informed conclusions Draws logical conclusions (70%) Does not draw logical 20 Develops an initial post with a point of view or idea using appropriate detail (90%) 10 Writing (Mechanics) that are thoroughly defended with evidence and examples (100%) Initial post and responses are easily understood, clear, and concise using proper citation methods where applicable with no errors in citations (100%) that are justified with evidence (90%) Initial post and responses are easily understood using proper citation methods where applicable with few errors in citations (90%) conclusions (0%) Initial post and responses are understandable using proper citation methods where applicable with a number of errors in citations (70%) Initial post and responses are not understandable and do not use proper citation methods where applicable (0%) Earned Total 10 100%

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agneta
School: Duke University

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Anonymous
Thanks for the help.

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