Business Finance : Stakeholder Communication: Starbucks

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 Rubricdocument.

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?

Answers

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