How to Build Relationship With Stakeholders

1. How to build Relationship with Stakeholders
Stakeholders: A person or organization with a legitimate interest in a given situation, action, or
enterprise. (Source: Boundless. “Relationship Building with Various Stakeholders.” Boundless Marketing. Boundless, 21 Jul. 2015.
Retrieved12 Jan.2016 from https://www.boundless.com/marketing/textbooks/boundless-marketing-textbook/introduction-to-marketing-
1/introduction-to-marketing-18/relationship-building-with-various-stakeholders-111-3496/)
There are two types of stakeholders for an organization.
 Internal Stakeholders
 External Stakeholders
 Stakeholders are involved in and/or affected (negatively or positively) by the outcome
and impact of an action, project or program.
 Internal stakeholders include stockholders, customers, suppliers, creditors, employees,
etc. External stakeholders include the general public, communities, activist groups,
the media, etc.
 Marketing communication can be divided into internal flows and external flows directed
at different target audiences. This necessitates different yet compatible
communication strategies.
 Preparing a communication plan involves five key points: defining the audience, defining
its requirements, building a communications schedule, defining a medium of
communication, and preparing the content.
 It is important to create a written report after any stakeholder discussion.
(Source: Boundless. “RelationshipBuildingwith Various Stakeholders.” Boundless Marketing. Boundless, 21Jul. 2015. Retrieved 12
Jan. 2016 from https://www.boundless.com/marketing/textbooks/boundless-marketing-textbook/introduction-to-marketing-
1/introduction-to-marketing-18/relationship-building-with-various-stakeholders-111-3496/)

2. Relationship between creditors must be mutually beneficial so CSR practice ought to be
extended to both groups. There are three fundamental requirements every Creditors must need
from organisations: legal compliance, quality control, and environmental conservation.
RELIANCE…It is believed that the proposed segregation will create enhanced value for
shareholders and allow a focused strategy in operations, which would be in the best interest of
RIL, its shareholders, creditors and all persons connected with RIL.
The demerger proposed by this Scheme of Arrangement will enable investors to separately hold
investments in businesses with different investment characteristics thereby enabling them to
select investments which best suit their investment strategies and risk profiles.
Reliance follows the law of security and Title-Based Financing..
Reliance Provides loans to creditors on their investments.