From the course: Stakeholder Management for Leaders and Managers
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Aligning stakeholders with organization strategy
From the course: Stakeholder Management for Leaders and Managers
Aligning stakeholders with organization strategy
- How does your company compete? Do customers choose you because you have the lowest price in their marketplace, or do they pay more for your product or service because it has special features that meet their needs? This fundamental question defines an organization's strategy, their theory about how they can successfully compete in their marketplace. In a perfect world, strategy aligns all of an organizational stakeholders. Unfortunately, this isn't always the case. The individual motivations we've discussed in earlier videos can override a company's overall strategic intent. So how can you align your stakeholders with your company's strategic goals? Here's some tips. First, clarity. You can't expect stakeholders to support your strategy if they don't fully understand it. Take the time to communicate the organization's key objectives clearly and repeatedly. For example, if your company's top priority is cost…
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