Stakeholders and Relationship Marketing
Stakeholders are those parties that share in the success of your organization. There are typically seven or eight groups of stakeholders that are important partners in every organization. In businesses, these include shareholders, customers, employees, suppliers, distributors, governments, and the public. In addition, in consumer or producer cooperatives, the members would also constitute an additional stakeholder group. Special interest groups are also a growing segment in the public sector and this group is often added to the overall list of stakeholders as well.
Relationship marketing is the building of mutually satisfying long-term relationships with these important stakeholders.
Reflect on the following discussion starter, and then engage in a learning conversation with your colleagues.
Discuss the important stakeholders within your own organization (or one that you can identify with) and the relationship links that the organization has set up with its stakeholders. Are these sufficient? If not, what other mechanisms would you suggest that this organization employ?
400-600 words
use Manulife Canada as the organization