Manage and Lead Team Effectively - Guidelines for Stakeholder Engagement

This article provides guidelines for establishing and maintaining open communication processes with stakeholders, enhancing corporate image, and engaging with stakeholders effectively. It also discusses three methods for stakeholder engagement and ensuring contribution to stakeholder relations. The subject is management and leadership, and the course code and college/university are not mentioned.

Running head: MANAGE AND LEAD TEAM EFFECTIVELY
Manage and lead team effectively
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MANAGE AND LEAD TEAM EFFECTIVELY
Table of Contents
Guidelines for establishing and maintaining open communication processes with all stakeholders
.........................................................................................................................................................3
Things that should be done for enhancing the corporate image for all stakeholders......................4
Three methods for engaging with the stakeholders and obtaining their advices.............................4
Ensuring contribution to stakeholder relations................................................................................6
References........................................................................................................................................7

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MANAGE AND LEAD TEAM EFFECTIVELY
Stakeholders are considered as important individuals of the organization who are
involved with the organization and company needs to fulfill their roles and responsibilities
properly. There are various stakeholders such as employees, customers, shareholders or
investors, suppliers and the managers of the organization named Global Star Enterprises1.
Guidelines for establishing and maintaining open communication processes with all
stakeholders
It is important to make sure that while communicating with the stakeholders, offensive
languages are not used and any sort of discrimination is prevented. By promoting open
communication processes, it would be easy to verbalize the inner thoughts and feelings,
furthermore act and communicate in a professional way. The employees should be provided with
a set of acronyms that could be used for communicating efficiently. The key purpose of the
meeting where the stakeholders are engaged must be understood and informed to the different
stakeholders. The team meetings are scheduled to make sure that the employees understand it
properly. The employees should be provided with feedbacks regarding their performances, based
on which, the areas of strengths and weaknesses are understood as well. This would help in
addressing the issues and manage budgetary reductions to ensure smooth business functioning as
well2. Providing the stakeholders with regular updates on important matters could also be
beneficial for managing changes and developments to the communication process and the
1 Mishra, K., Boynton, L. and Mishra, A., 2014. Driving employee engagement: The expanded
role of internal communications. International Journal of Business Communication, 51(2),
pp.183-202.
2 Cornelissen, J. and Cornelissen, J.P., 2017. Corporate communication: A guide to theory and
practice. Sage.

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MANAGE AND LEAD TEAM EFFECTIVELY
organization itself. There is a positive correlation between the ways people perceive the
organization and how supportive behaviors are promoted within the corporate sector.
Things that should be done for enhancing the corporate image for all stakeholders
The corporate image means the brand image that can be improved by fulfilling the needs
and expectations of the stakeholders. The investors must be provided with good rate of return
while the employees should be provided with job security, better working conditions, higher
wages, incentives and rewards. This would keep them motivated and encouraged to work harder
as well as gain a positive corporate image of the company. The corporate image turns to be
positive when the demands and expectations of the stakeholders of different kinds are fulfilled3.
By managing open communications with the stakeholders, it will also be convenient to maintain
a positive organizational culture, corporate image and design and ensure better productivity and
revenue generation all throughout.
Three methods for engaging with the stakeholders and obtaining their advices
The most important methods for stakeholder engagement are:
Integrating the stakeholder engagement in the planning and control cycle
By organizing the interactive stakeholder dialogue on an annual basis, it will be effective
for gaining chances to understand what they should be focusing on. The potential risks and
3 Kornum, N. and Mühlbacher, H., 2013. Multi-stakeholder virtual dialogue: introduction to the
special issue.

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MANAGE AND LEAD TEAM EFFECTIVELY
challenges are identified at an early stage, which creates better scopes for the stakeholders to
commit themselves fully to the future growth and development at Global Star Enterprises4.
Internalizing the stakeholder interaction in cross-departmental communications
With the growth of companies, the structures of the companies will likely get more
complicated. The departments can have different dialogues with the same stakeholders and
discuss about the different topics. By internalizing the stakeholder interaction, it will be much
easier to manage the time and resources properly as well as reduce the energy consumption and
emissions. By linking the various stakeholders from different areas of business functioning,
sharing and exchange of ideas and concepts are facilitated, which ensures coordination of work
and accomplish of business objectives with ease5.
Keeping track of the new stakeholders
It is always important to gain ideas and opinions from the new stakeholders and keep
track of their needs and preferences. The new stakeholders like the employees could generate
new ideas and provide opinions that should be valuable for the company. This should also create
new scopes and opportunities for the business to sustain in the competitive marketplace. Keeping
track or monitoring the commitment and contribution of the new stakeholders should bring new
ideas while the lucrative benefits provided to the shareholders could make them influenced and
4 Mayfield, J., Mayfield, M. and Sharbrough III, W.C., 2015. Strategic vision and values in top
leaders’ communications: Motivating language at a higher level. International Journal of
Business Communication, 52(1), pp.97-121.
5 de Jong, A., Song, M. and Song, L.Z., 2013. How lead founder personality affects new venture
performance: The mediating role of team conflict. Journal of Management, 39(7), pp.1825-1854.

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MANAGE AND LEAD TEAM EFFECTIVELY
they would expect better rate of return on investments6. Due to this, they would remain engaged
and committed towards the business.
Ensuring contribution to stakeholder relations
It is my aim as a marketing manager to manage the entire marketing department properly
and at the same time, act as a role model to the team members. To make them move in the right
direction, I communicated with them about their roles and responsibilities properly. While
serving as a role model, it would be important to make sure that the different types of
stakeholders’ preferences could be met. Stakeholder mapping and analysis must be done for
determining the key factors associated with the project proximity, demographics, needs and
expectations from the project that should be undertaken7. Praising them for their performances
and providing them with rewards and benefits could also keep them motivated and encouraged,
which would further result in facilitating the stakeholder relations.
6 Alliger, G.M., Cerasoli, C.P., Tannenbaum, S.I. and Vessey, W.B., 2015. Team
resilience. Organizational Dynamics, 44, pp.176-184.
7 Mishra, K., Boynton, L. and Mishra, A., 2014. Driving employee engagement: The expanded
role of internal communications. International Journal of Business Communication, 51(2),
pp.183-202.

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MANAGE AND LEAD TEAM EFFECTIVELY
References
Alliger, G.M., Cerasoli, C.P., Tannenbaum, S.I. and Vessey, W.B., 2015. Team
resilience. Organizational Dynamics, 44, pp.176-184.
Cornelissen, J. and Cornelissen, J.P., 2017. Corporate communication: A guide to theory and
practice. Sage.
de Jong, A., Song, M. and Song, L.Z., 2013. How lead founder personality affects new venture
performance: The mediating role of team conflict. Journal of Management, 39(7), pp.1825-1854.
Kornum, N. and Mühlbacher, H., 2013. Multi-stakeholder virtual dialogue: introduction to the
special issue.
Mayfield, J., Mayfield, M. and Sharbrough III, W.C., 2015. Strategic vision and values in top
leaders’ communications: Motivating language at a higher level. International Journal of
Business Communication, 52(1), pp.97-121.
Mishra, K., Boynton, L. and Mishra, A., 2014. Driving employee engagement: The expanded
role of internal communications. International Journal of Business Communication, 51(2),
pp.183-202.