- Stakeholder empowerment and engagement
- Community relations and development
- Corporate Social Responsibility
- Long-term orientation
- Ethical practices
One of my favourite theory's that I have discussed and researched during my university degree is the Stakeholder Theory by R.Edward Freeman. I strongly believe that effective stakeholder engagement is essential in determining whether a business succeeds or fails. I do not believe shareholders are the most important stakeholders and I do not believe that the sole purpose of a business is to make money. I believe that a business that respects and empowers employees, is transparent and aims to fulfil customer expectations, and respects and engages with community, as well as all other stakeholders, will be sustainable and long-term. I believe businesses should have goals to positively impact the community, have a long-term orientation and practice corporate social responsibility.
My internship placement and comparison to other companies I have experiences with, have led me to believe that the more you invest in these areas, the more likely you are to succeed. I thought I would have a look at two stakeholder areas within my internship company Programmed in relation to the above list. I wanted to look more closely at how Programmed engages with employees and community.
What got me thinking about stakeholder relations and community engagement was an experience I had with my internship company last week. For confidentiality purposes I won't mention any specifics or the name of the company. I was lucky enough to attend a meeting with my internship company with a massive, renown and successful company, to consult on issues of corporate relations and community relations. My internship company was exploring options to increase company engagement with community, as well as engagement with employees. The larger company had successfully implemented various internal strategies amongst employees to increase social engagement and community engagement. The company had involvement and obvious impacts on the community and the environment through their industry and process of work, so it was interesting to see the strategies they had implemented to attempt to counteract and improve community relations and reputation. Hearing these professionals discuss how it had been effectively proven that employee engagement and satisfaction increased the more the company invested in opportunities to participate in community engagement and 'giving back' just demonstrated how stakeholders all co-exist in a interconnected web system.
Programmed is interested in improving community relations through similar strategies, which just made me admire and respect the company so much more - to invest in an area that is not directly linked to financial gain, or business operations, but just to invest to benefit community and employee wellness, I think that is very admirable. Programmed does a lot of things along these lines, whether its encouraging participation in events that raise money, or promoting the activities of employees attempting to raise money. The company recognises the need to develop the community and improve relations to benefit all and have a long-term sustainable orientation. It also made me aware of the emerging market for PR professionals in these community relations roles. I believe this is an area I would love to work in - taking the money produced by large corporations and using these resources to develop the community and improve stakeholder relations and engagement. It is also becoming necessary for a business to practice good corporate citizenship to remain competitive and sustainable.
Programmed are also very employee centric in their business structure. I have been reading a lot of other intern blog posts on the important of a cohesive working environment and employee empowerment and I have come to realise that this is a strategy that Programmed delivers very strongly. They encourage diversity and equality, as well as making sure the working environment is neutral, inclusive and cohesive. I have discussed in past posts how the business is organised and structured to work these values into the company culture. Another aspect that really impressed me about Programmed, was the pride they take in encouraging gender equality. Programmed is listed at #6 on the ASX200 for diversity and women in leadership roles. It is a position they hold with pride and continue to aim for more improvement.
I am continuing to recognise the strengths within my internship environment and am loving how much I am learning and growing.
Thanks for reading!
Chloe
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