how to build valid and important relationships with various stake holders like media, government, employees,investors, financial institutions. the strategies that can be employed to build and maintain the relationship for future progress.

1. BIBM3:2
Strategies for building
relationships with stake holders
Lecturer: Mrs. Luyimbazi Winfred Nassiwa
ICRM

2. S16B41/014
S16B41/002
Kato Hanifa Nabankema
Ayebare Eunice
Nangobi Rehema
Group 2 Members
01
02
03
05
04 Mutabazi Timothy
Shilla Aribo Patrick
S16B41/089
S16B41/029
06
07
08
09
10
S16B41/069
Kabaala Najib S16B41/074
Ajiko Daniella Cleopatra S16B41/051
Namulondo Linda Esther S16B41/088
Barasha Duncan S16B41/073
Mugisha Julius S16B41/060
UGANDA CHRISTIAN UNIVERSITY
FACULTY OF BUSINESS AND ADMINISTRATION

3. Discussion layout
Introduction
01
Content
02
Conclusion
03

4. A stake holder is a person, group or organization that has concern or interest
in a company, and can either affect or be affected by the business
Relationship is the way in which two or more people or groups regard and
behave toward each other
Relationship with
stake holders

5. Relationship with
investors

6. Investors
03
01
04
02
Never select an investor based solely on the
funding that he offers. They should still
matter beyond finance concerns
Recognize their value beyond finances
Encourage open and clear dialogues so you
can learn more about the risks your investors
are willing to take
Listen to their concerns and opinions
Be confident of your abilities and reassure
investors of where you stand
share with your investors your vision, growth plans
and exit plans .
Share your passions and convictions
Provide both good and bad information
Give them updates on the progress, exciting deals
new partnerships or worthy new customers
Constant communication with investors

7. Investors
Build Trust with the investors
Investors trust companies who don’t hesitate to put all of their time
and money into the business, proving that they are highly committed
to succeed
Be authentic and respectful
Company management should not be afraid to break out of the
business borders and interact with their investors on a personal level
Start the investor relationship early
Reach out to potential investors and cultivate a relationship much
earlier before you actually ask for an investment

8. Relationship with
employees

9. Employees communication
being visible
top management is
accessible and
approachable
.
Open door policy
Communicate such events
physically to employees
regular company meetings
Provide all relevant
information needed
to employees
Offer transparency

10. Strategies
Internal awareness and
alertness is key. Provide positive feedback
Help them be happy
Offer career development
Set the tone from their first
day

11. Relationship with
competitors

12. Competitors.
01 02 03 04
Keep track of competi
tors with exceptional
performance
Create a warm environ
ment with the competi
tor
Ask your competitor
about quality
Offer innovative ideas
market survey
propose a lunch
meeting or a breakfast
sharing
quality standards of
the competitor.
Offer a new idea
Continuous market acc
eptance.
environment of respect
for the competitor not to
pose as a competitor bu
t as a business partner
How efficiently you can
offer quality
make value in your com
petitors’ sight.
build a relationship
listen and learn from the
competitor .
the future target of the
market and the product
quality.
Set a team aside to
develop and create
new ideas

13. Relationship with
suppliers

14. Suppliers can become
your business promoters
Marketing tool
Visit your suppliers’ offices
Invite suppliers for
meetings
Invest in face to face
interaction
Engage them in
company events
Reward suppliers who
exceed your expectation
Appreciate and
recognize suppliers for
their extra effort to meet
your changing targets
Get to know your suppliers
Reward suppliers who
meet your target

15. Information Sharing with suppliers.
Demand
changes
DiversificationSpecial
promotions
Market
trends
Product line
changes
Changes in
key personnel
Phone calls
and emails
Aware and
updated
A
B
Result
Value of existing relationships.
Feel appreciated
Result
Prepare to fulfil the changing demand
New ways to serve you better

16. Favorable lead time
Realize company needs
and supplier needs
Keep suppliers informed of any
significant changes
Share a projection of your
needs
Project your own needs
Understand the production
methods of your suppliers
Choose and manage suitable
lead time

17. Pay your
suppliers
in time
CompanySupplier
Negotiate for favorable
payment terms.
Communicate delays in
payments
Offer favorable price
settings for the supplier
Communicate the right
payment methods
simplify the payment
procedure
Negotiations

18. Relationship with
distributors

19. Distributors
Knowing the distributors personally
Distributors are used as a marketing tool for business
Maintaining a regular communication
communications are open between the distributors
and the company. This ensures that information is
always updated about goods
Participating in activities together
activities like Annual General Meetings and
celebrations. This gives the opportunity to get to
know them well and create a close bond
Offer trainings and education
Enables sharing of technology, business goals and
ideas, and improved strategies
Trainings results into close professional relationships
for mutual benefits of both.
Contents
Here

20. Distributors
Investing in your distributors
Helping them growth and off setting their losses
damages and promoting their business initiatives will
lead to acceptance and high trust
Let the distributors know the strength and weaknesses in order to get
their opinions on how to increase sales as they tend to know the
market well. they feel part of the business success
Involving distributors for their inputs

21. Relationship with the
government

22. Government
Designate a manger to coordinate
the government
Establish internal systems that
incorporate the government.
52% 48%
Local government
.
Global governments

23. Make courtesy calls to local
government.
Government
Create mechanisms to
mange local
government relations.
Local government
comes first

24. Relationship with media

25. Prepare
interviews with
your media
personnel
Media
Important topics to be handled
what is expected to be heard
Call out the media personnel who relates with the
topic being addressed
What you are giving as a new idea to society

26. Media
02
03
04
What is expected of
him and what is not.
Simplify the process of
contacting the company.
To avoid
negative press
Delegate a Public
relations officer.
hire a public
relations manager
01
right media platform
to use
Either tv, or radio or
news papers.
Main focus
Understand the job of the reporter

27. internet
Online club
Company Website
Call centers
Twitter
You can simply impress your audience and add a unique zing
and appeal to your Presentations.
You can simply impress your audience and add a unique zing
and appeal to your Presentations.
Ensure constant update of the website providing all the
necessary information..
Capitalize to outsource this or have many employees to
reduce fleet from customers
An active platform where queries and answers are offered for
the entire world..
Engage in continuous, active dialogue with your online community

28. Relationship with
creditors

29. Creditors
Use a credit card to obtain credit
The supplier is paid immediately, and
you have some time before your credit card
payment is due. This is a more efficient way
of operating business and avoids challenges
that come with face to face interactions with
the creditors

30. Creditors
Keeping creditors
informed
informed about
the state of
company finances
rather than hide
such information
from them.
01
Maintain flexibility
aim at reaching a
compromise rather
than allowing
matters to end up
going to court
02
Be Professional.
agreed credit
terms.
Controlled
relationship
03
Be honest.
be open and
transparent
with their
creditors to
avoid
backlash
04

31. Relationship with the
community

32. COMMUNITY
Organize or sponsor a charitable event
Gives the business the opportunity to meet and
work with many different people in the
community
Promote the use of local businesses. For
example hiring catering services from the local
community
Using expertise for good
Firms can use their unique skills to assist local communities
rather than cash funded projects
PENCIL” program business in New York city, works with
local schools to supplement student’s education
Example
Keller Williams Reality worked with the
Gazelle Foundation in Texas helping
Burundians receive safe and clean water
Use local vendors

33. Community
Create a company volunteer/ community day
Devote an entire day of volunteering to the
community for example MTN MoMo Nyabo activity
going on currently in Uganda to give back to the
community for using MTN
Donations don’t have to only to be financial they
can be products such as printers, pens, books,
solar panels, sanitary towels, bore holes and also
food.
Donations
Can provide discounts to local businesses and
community members as way of giving back.
Give back each time you make a sale

34. Conclusion
The relationship that a
company has with its various
stake holders is dependent
on the strategies employed
and it is vital for the success
of the company
Inquiries
Questions
Supplements
Comments