Communication Plan Stakeholders

Question: Discuss about the Communication Plan for Stakeholders. Answer: Introduction Communication is important for the company in developing awareness and improving the companys products through having feedbacks from users and other stakeholders. Following the development of the new innovative car by Toyota Motor Group, there is a need to create awareness of this new great product. It is important to note that whenever the company develops a new product there has to be a launching event which is aimed at releasing the model into the market. Launching helps the brands gain popularity since many stakeholders can witness the launch. There is also a need to communicate to shareholders that their team is working hard to create new products that re technology based (Van, 2016)). Various communication channels will be used in conveying this information to different stakeholders. A free flow of information is important in an organization since it is helpful in avoiding confusion and conflicts. Different communication channels work effectively for different stakeholders. The refore, it is important to develop a plan that caters for all the stakeholders to whom the communication is to be done. Current Situation Analysis In order to develop a most effective communication plan, the current situation has to be analyzed in order to communicate in the most effective way. The current situation of the company and its operational environment will be analyzed through a Political, Economic, Socio-cultural, Technological Environmental and Legal factors (PESTEL) and Strengths, Weaknesses, Opportunities and Threats (SWOT) and the competitive analysis in order to ascertain what has been done and what needs to be done in order to be successful in the market (Mayer, 2016). Pestel Analysis Political environment-This factor is critical for business because politics creates policies. Business cannot be conducted in countries with political instability. Toyota operates in many countries in the world. In most countries, there is political stability. This offers the organization a conducive political environment to conduct its business (DockalikovaKlozikova, 2014). Economic environment-Most of the world economies are stable and this is a conducive economic condition for business. This environment is highly competitive and therefore the market is dynamic. However, Toyota is one of the companies that has enjoyed the stable economies and the emerging economies because there has been a great success globally for the company (Matsuo, 2015). Socio-cultural factors-the company has been working towards meeting the current social requirements of different cultural groupings. This has created an opportunity for the company to penetrate most of these markets (Winfield Hay, 1997). Technology factors-the company has embraced technology since this is the trend in the current economy. Technology has improved production through efficiency. The company is also working towards improving their technology in production and in the car models that they produce (Turaga, 2016). Environmental factors-this factors are becoming popular and organization must comply with the environmental requirements. This is meant for sustainability. The environment plays a critical role in life and there is a need to preserve and conserve it. The company has programs that are meant to conserve the environment and they are embracing production techniques that are less harmful to the environment. Also, they have started producing products that are ecofriendly to make sure that the environment is protected (Noland, 2014). Legal factors-since Toyota operates in many environments, there is a need to adhere to legal factors that exist in such countries. Different jurisdictions have different policies that have to be adhered to in order to conduct business there. Toyota has complied with the legal requirements of these countries and they have their business running. Swot Analysis Strengths-The Company has a strong brand name-in communication, this has to be considered since the brand name can be tarnished by conveying wrong information. Therefore care should be given in the kind of information that is passed. The company also has a global supply chain and innovation capabilities whose interests must be catered for in communication (Comino Ferretti, 2016). Weaknesses-Secrecy in organizational structure and effects of recall of products in the recent past. This should be considered in order to persuade customers and retain them (Kong, 2008). Opportunities-rise in demand for fuel efficient automobiles and the growing market in developing countries (Serpa, 2016). Threats-low cost competitors and rapid changes in technology. In the communication plan, this should be considered in order to address how this factors will be dealt with. Competitive Analysis The automobile industry is very competitive having many companies across the globe. Toyota has been known to develop fuel efficient automobiles and that is what the emerging markets prefer. Therefore, the company has a competitive advantage as compared to the other brands and that gives Toyota a chance to penetrate the market faster than any other automobile brands (Cassidy, 2011). Communication Objectives The first objective of this communication plan is to ensure that the staff members are recognized for their hard work and innovativeness in the production process. Secondly, to ensure that the product users know that there is a new product in the market that is more efficient and advanced in technology and environment friendly. Thirdly, to ensure that customers have a channel through which they can communicate their concerns and give feedbacks. Fourth, to recognize the emerging markets in the developing and middle income economies. Fifth, to showcase the companys success in developing new products Sixth, to increase the companys popularity through mainstream and social media channels. Seventh, to communicate the improvement of policies that are affecting the business negatively. Lastly, to create awareness that the company is concerned about the environment and the society and that is why they are producing eco-friendly products using environment-friendly techniques. Scope of the Communication Plan Apart from communicating the launch of the new innovative Toyota automobile, the communication will cover various policy issues and the intended technological improvements that the company intends to introduce to enhance efficiency. Also, it will include the new targeted markets in the developing economies which have a great potential. Finally, it will be in order to thank the society for providing a conducive environment that has enabled the company to attain the success that can be observed. Stakeholders Stakeholders include the internal and external stakeholders. They include; the staff members, the board of directors, customers, potential customers, investors, policy makers, and community groups. All these stakeholders are important to the company because they contribute in one way or another to the success of the company. Therefore, there is a need to communicate to them about what is happening in the organization so that they can be kept updated on all the events and developments that the company has. Being a multinational corporation, Toyota deals with people from different cultural backgrounds. In communication, it is important to consider the culture factor in order to communicate effectively. To some extent, culture plays a critical role in how people make decisions. If the communication being made is not appropriate for all the cross-sectional cultures, it may not be effective and part of the audience can miss out on what is being communicated (Berger Iyengar, 2013). Toyotas Formal and Informal Communication Channels Toyota engages in communication as part of their business functions. There are different channels through which the company makes its communication and they are determined by the target audience, purpose and the budget. This means that the company embraces both formal and informal communication depending on the communication needs.These communication channels have played an important role in the success that the company enjoys since there are few misunderstandings and conflicts. The communication plans have been effective. The communication channels will be discussed below (PaltsKalmus, 2015). These are communication channels that are controlled by the people in authority. Internal and external communication is conducted through these channels. The newsletter This is an internal communication channel that is meant for employee communication. This tool is important in the organization because it contains information and entertainment (Berger Iyengar, 2013). Advantages The newsletter has entertainment bits which act as a motivation for readers to get the information that is within the document. It recognizes employees and various events that the company has had and the employees needs. The newsletter can be used to get new clients because it contains vital information that may be useful for customers. Disadvantages The newsletter contains more internal affairs information rather than the corporate matters and it is purely meant for the employees. It is produced quarterly and therefore it is meant to give reviews on company performance. This is not adequate for communicating more in the organization. The notice board The notice board offers a channel through which the companys internal communication can be conducted.The notice board is accessible by all the employees and it can be used in communicating important matters of the organization. This channel is considered to be one of the oldest through which formal organizational communication is done (Raman, 2016). Advantages of the Notice Board It is less costly for the organization since few resources are utilized in order to communicate. It is effective since the notice boards are strategically located for all employees to access. This makes it easy to communicate within the organization. Information and resolutions from committee meetings are easily passed on to other members of the company through this medium. Disadvantages of the Notice Board Some members of the organization may miss out on the information on the notice board if they are not careful enough to check the notice board. Memos This also is an important internal communication channel. Toyota uses this channel in disseminating various pieces of information that are vital for the organization.These are informative channels and they are taken seriously because they originate from authorities. There are no specific formats for this channel but different offices may adapt their own formats (Raman, 2016). Advantages of Memos Information in a memo is taken seriously by the organizations members because it comes from higher authorities. This is an important aspect of information because there is respect accorded to these authorities. They are strong and effective tools of internal communication. Emails This is one of the communication channels that is rapidly becoming popular in most organizations. Emails can be used for both formal and informal communication (Towner Klemz, 2016). Advantages It is effective in passing on urgent information and therefore they offer a chance of fast action. The channel is relatively cheap. Can be used as evidence when needed. Disadvantages It requires technical knowledge to use and if a person is technologically illiterate, it can pose a great challenge. Social Media Social media has also become popular and corporates have embraced its use. This channel has a big community which can be accessed easily with readily available gadgets. The young generationhas embraced social media platforms and it has changed to be a great marketing platform (Agozzino Kaiser, 2014). Advantages It has a large community and therefore external communication can be delivered through this channel. It is cheap to setup. It can be utilized for marketing because most people on social media can have the ability to purchase the companys products. Disadvantages It is considered an informal channel. It can be used to tarnish the company reputation. Radio and television channels These are the traditional channels through which external communication can be done. The channels have been used for many years in order to communicate to the public (Madsen, 2016). Advantages This channels have a potential to communicate to a large group of people. Critical messages can be can be communicated through this channels. Television and radio offer authentic communication because it is believed to have been delivered by authorities. The channels can be used for advertising and marketing which is also a form of communication. Disadvantages The channels are expensive to use. The communications conveyed through these channels cannot be accessed once they are done because they cannot repeat without being paid. Communication Work Plan The staff members will receive their communication through a memo and emails. These will be effective channels for the employees because they all have access to internet connected computers and they can easily read their emails. Also, a copy of the memo will be availed at the noticeboards for all members who will be willing to use the information at the notice board. The board of directors, policy makers and investors will receive formal communication through letters and emails. These are formal communication channels through which the communication can reach this group easily and effectively. When the communication is made directly to these people, they feel the authority and respect that they are accorded by the company. There will be communication through media channels, both social media and main stream media to ensure that the community groups and the potential customers receive a formal communication.Therefore, television and radio channels will be used in executing this function. Evaluation of the Effectiveness of the Communication Plan The level of success of the communication plan will be measured by the use of various tools. For instance, the number of invited guests who will attend the launch will be used to evaluate the success of the communication plan. Also, the number of inquiries that will be received will be used in the analysis and evaluation of the strategys success. Lastly, the policy makers actions on our company requests will also be used. This evaluation will be important in making sure that the communication strategies employed in this communication are effective so that in the next time there are improvements to the way information is conveyed, especially to the external environment. By having a huge number of respondents with regards to this launch-that will indicate a successful communication plan. Conclusion A communication plan is important for such an event. The various communication channels that were discussed have their significance in different forms of communication. The objectives of the communication plan have to be met in order for the plan to be considered effective. After having analysed the environment in which This Company operates, the communication plan developed is likely to register a high success level. References Agozzino, A., Kaiser, C. (2014). Social Media as a Practical Approach in Engaging Key Stakeholders in School Crisis Communication Plans: A Qualitative Analysis. 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