LEADERSHIP AND STRATEGY
THE IMPORTANCE OF STAKEHOLDER MANAGEMENT IN A GLOBAL CRISIS SUCH AS COVID-19
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Arguably being one of the most vital elements of a business ’ operations as the pandemic brought about widespread disruption and confusion , Deloitte identifies the importance of keeping key internal and external stakeholders informed as the situation unfolded , as well as the impact and implementation of response measures .
Practical steps to take to ensure that internal and external stakeholders remain informed 1 . Assemble a cross functional crisis response and communication team 2 . Communicating with employees early and often 3 . Engage with critical suppliers 4 . Remain in contact with key stakeholders to see an increased level of engagement , with a need for discipline to focus on important issues and the things that will make a difference , instead of general interest topics .
With this in mind , for organisations to get the most out of their stakeholder management operations , Harte details the importance of being clear about what is trying to
DECEMBER 2020