#PRQuote: Stakeholder Management

Welcome to the month of March, may we all experience significant progress this month.

Today, I will want to take us through something unique called Stakeholder Management. It is a function that many organizations handle with care because external stakeholders, particularly, determine the overall acceptability of the company and this will definitely impact on the corporate objectives of the brand.

Remember, your relationship with your stakeholders is very critical to your survival in this VUCA world. Identify your stakeholders and handle them rightly.

In another wave, we need to see another side to stakeholders’ management. I heard of an organization that undertook a Corporate Social Responsibility (CSR) project in a community and they did the commissioning with lots of pomp and pageantry. However, residents of the community did not appreciate this noble feat.

It was then advised that organizations should firstly get a feel of what the people of the community consider to be their utmost challenge before trying to proffer a solution.

This was the thoughts of Wilson M, “The stronger your relationships are with external parties, the easier it will be to meet your corporate business objectives, the harder it will be.”

How are you building your relationship with your internal and external stakeholders?

Olutayo IRANTIOLA writes #PRQuotes weekly.

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