In line with the Aboitiz Group’s strategic pillar of engaging our stakeholders, Aboitiz Equity Ventures (AEV) and AboitizPower (AP) held several workshops designed to make team members understand, apply and fully embody the principles and processes of stakeholder relationship management (SRM) and communication.
Archie Inlong, President and CEO of public relations firm, NPI Communication Consulting, Inc., gave workshop participants an integrated view and appreciation on the value of stakeholder engagement.
Participants analyzed the different players interacting with their CSUs and BUs, and were able to define who are their “real stakeholders” – those who are invested in the success of the business because “if we win, they win, and they know it,” as Inlong puts it.
What is Stakeholder Engagement?
Stakeholder engagement is the process of human communications to build, enhance and protect relationships in order to support and grow our business, the power of our brand and build goodwill. This is critical to our business because it gains social acceptability, forms security shield, ensures uninterrupted operations and develops advocates.
Who are our stakeholders?
Not all players are stakeholders. A stakeholder is a group or individual who knows that if I WIN, YOU WIN, and IF I LOSE, YOU LOSE. They are fully invested in the success of the Aboitiz Group. Know and Understand Our Stakeholders It is essential to identify, analyze and prioritize our stakeholders. They are classified accordining to their interest and power/influence in our business.
Prioritize identified Q2 stakeholders and protect from any agitation by nonstakeholders.
How do we treat our Q2 Stakeholders?
• Take care of them intently
• Keep them updated of what is happening.
• If there are issues, inform them first
• Relationship-building should be done personal
What are the different strategies when communicating with stakeholders?
• Mass communication
• Group communication
• Interpersonal communication – the most valuable of the three
Moving forward, the next step would be the creation of stakeholder management plans for the different teams anchored on the strategies shared by Inlong.