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7. Developing a Stakeholder Strategy

Svendsen, Ann Berrett-Koehler Publishers ePub

Strategy is the way a company defines its business and links together the only two resources that really matter in today’s economy: knowledge and relationships.

—R. Normann and R. Ramirez, 1993

Building stakeholder relationships is becoming more challenging. As the boundaries around and within corporations become more diffuse, the number and complexity of relationships increases. In addition, the potential for inconsistencies and errors of judgment grows as more employees are empowered to take on responsibilities for initiating and managing relationships with external stakeholders. These factors increase the need for a consistent and effective stakeholder strategy.

This chapter outlines a process for developing such a strategy. By following the steps outlined in this chapter, you will be able to answer the following important questions:

You will recall that one of the key features of the model of corporate-stakeholder relations described in chapter 3 was the notion that corporate strategy, among other things, defines how a company manages its explicit and implicit contracts with stakeholders. It defines what the company expects to receive from its stakeholder relationships and what it is prepared to give. This stakeholder-oriented view of strategy differs sharply from the traditional view that strategic plans should focus mostly on financial goals and initiatives designed to improve financial performance.

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Chapter 13: Training

Gordon, Robert L. Berrett-Koehler Publishers ePub

The traditional PMO and the VPMO may overlap in the types of training they offer, if they offer training, which not all PMOs do. Some partner with the company’s training organization to design the training or provide subject matter expertise for project management courses. PMO leaders should be advocates for project management training, especially in companies in which project management maturity is low. Training leadership on the merits of project management and demonstrating the advantages of the PMO or the VPMO can be what the leaders need to become project management advocates!

PMOs should provide targeted training to various groups depending on their needs. The leadership within the PMO must stay current in the discipline of project management and business practices. Project management encompasses the bigger picture of portfolio management, program management, project management, and any other areas as defined by the Project Management Institute.

Projects are affected by business and in turn affect business, and the PMO staff needs to understand this relationship. For example, when the Sarbanes-Oxley Act became law, many companies struggled to figure out how implement its requirements in a cost-effective and transparent manner. Astute project management leaders realized that project management was a viable, cost-effective option for complying with the act. Those companies that had trained their project managers in business theory as well as project management reaped the rewards of forward thinking and using project management in a nontraditional role.

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Chapter 4 Searching for Partners

Polk, Betsy Berrett-Koehler Publishers ePub

You have debunked the myths and are intrigued by the possibilities that open up to women who are working together: numerous benefits, seemingly limitless opportunities, and vast potential. But one pesky question keeps popping up, dampening your enthusiasm and sticking a pin in your dreams: Who will you partner with?

You see the advantages of intentional collaborations and are eager to share the load with an equal partner with whom you can exchange ideas, celebrate successes, and shoulder the losses—someone who will share accountability, responsibility, and risk to achieve outcomes together. But you also understand that this important relationship will demand a lot from both you and your partner. She can’t be just anyone—this has to be right. And you have no idea who that right someone might be. In this chapter, we will help you figure that out.

The first thing you should know is that you’re not alone. Finding a partner can be daunting for both men and women, but for women it is even more difficult because women are looking for more. We have observed that men tend to be straightforward in their collaborations, focused on moving from actions to results. Their relationships may be important, but they don’t seem to carry the same weight as relationships do in female partnerships.

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9 Two sustainability leaders that superbly address the new rules

Ottman, Jacquelyn Berrett-Koehler Publishers ePub

The new rules for addressing the demands of today’s sustainability-minded consumers not only represent a seismic shift in communication strategy but also now require a thorough, life-cycle approach to product development and the ability to forge constructive coalitions with a wide array of new corporate stakeholders. While most businesses are still learning the new rules and trying to adapt accordingly, some business are leading the way, pioneering new strategies, and enjoying the myriad benefits. While many companies, large and small, fit into this category, two have been chosen to be profiled in depth in this chapter: Starbucks and Timberland.

Of course, no company can be considered 100% sustainable – and these companies have their eco-shortcomings, too – but I believe that the progress made by these two firms can represent a model for others who follow in their steps and, I hope, a platform from which to build on even these leaders’ efforts. Consumer loyalty to these companies and their offerings proves that new sustainable branding strategies can form the basis of an enduring business and provide leverage in the face of formidable competition. They superbly demonstrate how new strategies of green marketing can create jobs, build brand loyalty, and return hefty profits, all the while contributing to a more sustainable society.

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1 Goals Align Strategy and Objectives

Stack, Laura Berrett-Koehler Publishers ePub

If your team lacks clear goals, it may as well be a drunken octopus on roller skates. You’ll get just as far. To be efficient and effective, you must set team goals, align them actively with organizational goals, and communicate them to your team.

You’ll also need to regularly reevaluate your progress to ensure you’re on the right path. If you’re not already doing so, consider what course corrections might better serve you. “Strategic planning and goal setting should be linked,” advises Janie Wade, Senior Vice President of Finance for Baylor Scott & White Health. “Everyone on the team should have goals that support the plan and each other. But the plans and the goals have to leave room for the unexpected opportunities that develop.”

Goals also boost team productivity because they sow seeds of hope. They give your team something to strive for, especially if they’re coupled with a positive, nonpunitive environment where you provide valuable feedback on a regular basis. Goals establish promises that you and your team can work toward as you fine-tune performance and boost productivity.

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