Communication between a business and its stakeholders is central to the success

Communication between a business and its stakeholders is central to the success of that business. The methods of communication will differ depending on the stakeholder. Tesco communicates with its shareholders directly at annual general meetings whereby shareholders are given updates on the business’s current state and future plans. At these meetings shareholders can communicate directly with executives by asking questions and expressing any concerns vote. There is also an entire section on the Tesco website dedicated to informing shareholders on key information and any queries they may have. Moreover shareholders have the option of email and telephone if they wish to speak to someone on any given day. Tesco will mostly communicate with their customers and communities face-to-face in store however there are other avenues that customers and communities can reach the company on such as; social media, telephone, email, letters. They can keep updated with the organisation from the website, or by subscribing to their newsletter where they will receive emails about new content that is put on the website. The methods of communication are very appropriate for all three of these stakeholders because they remain updated with the organisation and they have the ability to express their concerns or ask their questions.In the NHS communication with customers/patients is similar to that of Tesco’s. Customers/Patients will discuss their health and seek advice from their GP’s, doctors and nurses when meeting face-to-face at their GP or hospital but they can also access a lot information online from their GP’s website, the main NHS (England) website, the NHS (England) social media accounts etc. Information that can be acquired could be concerning their health, contact details, updates and now their own records if they wish to. The traditional methods of communication (telephone, email and letters) are also available to patients. The NHS has opened all forms of communication to their patients allowing them to build better and more trusting relationships with them. Employees can easily communicate with their direct bosses however, as feedback from staff is also vital once a year in the NHS staff survey they can share their experiences and give feedback on certain areas and this reaches people higher up in the hierarchy such as the boards of directors and executives. The NHS also has an employer twitter page that updates employees. Certain hospitals and practices even have newsletters so their employees can stay updated on things such as upcoming events. As well as contacting their supply chain team representative through email, letters, phone calls and even on social media, suppliers can also access an online system called ‘Supplier portal’ that helps them manage their tasks. There is also a newsletter specifically for suppliers that allows them to keep up with important notices, saving opportunities and contract updates.

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