INTRODUCTORY CERTIFICATE IN MARKETING
Understanding Customer Relationships
CIM No: 13958726
I confirm that in forwarding this assignment for marking, I understand and have applied the CIM policies relating to word count, plagiarism and collusion for all tasks. This assignment is a result of my own independent work/investigation except where otherwise stated. Other sources are acknowledged in the body of the text and/or a bibliography is appended. The work I have submitted has not previously been accepted in substance for any other award. I further confirm that I have not shared my work with other candidates.
Table of Contents
Table of Contents
Task 1: Keeping stakeholders informed
3 - 6
Task 2: Collecting stakeholder information
7 - 9
Task 3: CSR – Gaining an Internal Perspective
10 - 12
25th November, 2011
Keeping stakeholders informed
Communication is defined as the process by which information is exchanged between individuals through a common system of symbols, signs or behavior (www.merriamwebster.com/dictionary). It is a two-way process and plays a central role for effective relationships within an organization (CIM Introductory Certificate in Marketing Study Workbook, pg 135). For communication to be effective, the receiver must understand the message in the manner the sender intended for it to be received.
As with majority of organizations, stakeholders are an integral part of any organization and must be well informed of necessary decisions and activities of the said organization. With reference to the recent oil spillage crisis, it is important that BP communicates to the following stakeholder groups –
a. FOUR STAKEHOLDER GROUPS THAT BP NEEDED TO COMMUNICATE WITH AND THEIR SCOPE OF INTEREST ARE:
Governments and regulators: Government alongside the regulatory agencies established by the government to dominate the industry, are responsible for formulating policies which govern offshore drilling processes and also ensure that the interest of the public is protected from the activities of the oil companies. Both bodies need to be informed of the spillage to allow for monitoring of the situation and deployment of resources and assessment teams to establish shoreline protection and clean up priorities. (http://www.env.gov.bc.ca/eemp/resources/strategies/oilstrat.htm)
The information would further assist the government investigate the cause of the spillage in order to take necessary legal actions and also help with legislation of regulatory laws which governs oil exploration by the oil companies.
b. Stakeholders and analysts: The stakeholders include shareholders and investors who have financial interests and commitments in BP. They should be informed of the spill and every progress made by BP, so that they are kept abreast of the financial implications and expenditure that would arise from the spillage, cleanup process and compensation cost which might result in a loss in revenue for BP and ultimately their financial interests.
c. Local communities: Local communities are usually members of the community within which an oil project is situated and in this case, the community where the oil spill has occurred. They would also include the local media, medical organizations, nongovernmental organizations active within the area, local security forces etc. Organizations must establish themselves as reputable members of a community. (www.ou.edu/deptcomm/literature review.htm) By establishing a reservoir of goodwill in the community it is often easier to gain community support during a crisis (Sellnow, 1993). As such, affected...
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