Question

In identifying and evaluating best practices in communicating with and responding to stakeholders, it is essential to know their rights.

One such group is the Shareholders (Stockholders).

1. Outline the rationale for legal rights and safeguards of the shareholders.
                                                                                                                        (8 marks

Answer 1

Understanding best practices and following them will facilitate build your confidence once participating with stakeholders, whereas guaranteeing you bring home the bacon the most effective potential outcomes for your project, organization and any stakeholders.

From initial neutral engagement going to communication-

1- . build an idea
Your commencement should be to form a neutral engagement arrange. A basic arrange ought to define WHO your stakeholders ar, why you would like to have interaction them, however you’ll interact them and what outcomes you would like to aim for. With an idea in situ, you'll make sure you have capability among your organization to follow through with neutral engagement and build the foremost of your resources. Finally, an idea can guide you thru every step, from shaping stakeholders to reportage on what outcomes you’ve achieved.

2- outline your neutral list
As a part of your neutral arrange, you’ll ought to establish your stakeholders. List out all the various people, teams associate degreed organizations WHO ar suffering from or might have an influence on your project or organization. Once you've got your neutral list, you’ll understand WHO you would like to have interaction and you'll begin designing the messages and ways that add up for your specific stakeholders.

3- outline your key stakeholders
Don’t simply stop at your neutral list – if you’ve done this properly, you’ll in all probability have additional stakeholders listed than you'll realistically interact with on a deep level. So, decide which individuals and teams on your list ar key stakeholders – people who you’ll ought to interact with additional, and people whose participation is important to your project. Use the neutral Mapping fields of Influence, Interest and Impact to phase your stakeholders. Then you’ll be ready to range some time and resources, focusing your efforts on them, whereas still loosely participating the rest of your neutral list.

4- Tailor your communication and message
The same technique of delivering or presenting your message in all probability won’t be right for all of your neutral teams. neutral engagement best apply means that you ought to tailor the data to totally different stakeholders in order that it addresses the problems they’re most involved concerning, and provides it during a format that's most accessible to them.

5- . Be comprehensive
Recognize that your neutrals ar numerous and it’s your responsibility to supply a good likelihood for all stakeholder teams and people to participate. you'll do that by obtaining real knowledge on WHO your stakeholders ar and the way they like to speak, guaranteeing data is accessible in several formats audio, video etc and designing measures that assist you reach a culturally and lingually numerous community.

6- Communicate clearly-
Present the facts objectively, Be as clear as potential, make a case for what’s unsure vs what’s bound, Show however neutrals will share their perspective and participate and make a case for however stakeholder involvement can impact on selections created.

a- Shareholders Rights- A shareowner could be a person or legal entity that has associate degree possession interest during a company. Shareholders ar house owners of the corporate and ar issued shares that every represent a slice of the corporate. As possession and management ar separated, shareholders don't partake within the business’s daily activities. However, as equity house owners, they fancy bound rights and responsibilities. {we will|we'll|we ar going to} make a case for what these are during this article.

1- Right to access money records
As house owners of the corporate, shareholders have the correct to examine a company’s books and records. this is often in order that the shareowner is aware of however well the corporate is doing. the corporate might do that by providing audited money statements or money reports to the shareholders.

2. Right to sue for wrongful acts
Shareholders have the correct to sue administrators and executives for wrongful acts. This embrace misdeeds of administrators and alternative officers.

3. Right to vote
The right to vote is that the most significant right a shareowner has. This right allows shareholders to participate in company decision-making. Their vote power includes the correct to appoint administrators, the correct to form proposals, the correct to vote for structural changes like mergers and acquisitions or liquidation.

4. Right to attend the Annual General Meeting (AGM)
The Annual General Meeting (AGM) is associate degree annual gathering of a company’s shareholders. Here, the administrators of the corporate presents the shareholders the company’s annual report and treat its performance over the year. throughout the AGM, shareholders might elect new administrators, discuss administrators remuneration, and raise queries relating to the corporate moving forward.

5. Right to transfer possession
Shareholders of in public listed firms have the correct to trade their possession interest or shares on the ASX. this is often vital as shareholders ar ready to quickly exchange their shares into cash. The liquidity a share provides is extremely vital.