How many stakeholders?!

Taking the time to write down all of a company’s stakeholders was really eye opening. When all of them are on the same page, it shows how many individuals, organizations and companies are truly impacted by one entity—and there were many more than I had expected. It is almost overwhelming to think of all the people who, in some way, depend on the sustainability of St. Ann’s Community. Although the significant number and variety of stakeholders makes an IMC plan more complicated from a marketing standpoint, I am grateful that I’m not in the finance department, struggling to balance all these stakeholders’ needs in the wake of New York State budget cuts!

Listing all the stakeholders seems like a simple and easy exercise, but as I quickly learned, when you attempt to make an exhaustive list in a short amount of time, it is very easy to overlook a stakeholder or two. This further underscores how important it is for a marketer to understand the intricate workings of a company or organization, and to take the time to create a thorough marketing plan. Since Tuesday’s class, a few more stakeholders have come to my mind, and it will be interesting to see how long the list will grow as I learn more about the different departmental operations within the 1,100-employee organization.