Week 10 Flashcards
What is stakeholder management?
The strategic umbrella that aims to build mutually beneficial relationships with important audiences that impact, or are impacted, by an organization
What are the 4 steps to reaching stakeholder objectives?
- Stakeholder Identification
- Stakeholder Analysis
- Stakeholder Communication
- Stakeholder Engagement
What are examples of stakeholder engagement?
- When companies have active corporate social responsibility and pursue environmental initiatives
- When developers try to earn community support for future plans to build in their communities
What do you want to motivate stakeholder to do?
- Buy products and services
- Donate to or support my programs
- Volunteer time and expertise
- Work for or partner with me
- Pass supportive legislation for your organization
What were Lululemon’s competitive advantages?
- Grassroots Communication Strategy
- Product Innovation Strategy
- International Growth Strategy
What are the three cycles of issues and crisis management?
- Preparation
- Response
- Prevention
Define “crisis”
A specific, unexpected and non-routine event or series of events that create high levels of uncertainty and threaten, an organization’s high priority goals
What are the two components of crisis management?
- Preventing a crisis from happening
2. Managing a crisis once it has occurred
Define “legitimacy”
Refers to the right for a company to exist in the public’s opinion because it shares their values
What are some elements that should be incorporated into a crisis plan?
- A designated team
- Defined responsibilities for each member
- Media contact lists
- Spokespersons
- Key messages
- Processes for disseminating information
- Templates for response materials
What are the five P’s for successful crisis management?
Proper Preparation Prevents Poor Performance
What is the APP Template?
APP = Anticipate Prepare and Practice
- Created by Dr. Vincent Covello to help organizations prepare for crises
What is the CCO Template?
COO = Compassion Conviction and Optimism
- Created by Dr. Vincent Covello as steps to making a statement in a crisis
What are Kaiser/Lachance’s elements of crisis management?
- Media relations and monitoring
- Message developing
- Spokesperson training
- Vulnerability assessment
- Issue/crisis communications manuals
- Crisis simulations
What are the 4 reputation crisis categories?
- Operational product
- Corporate/financial
- Data/IT
- Behavioural/individual (most sensational)