Effective communication is key to managing different stakeholders and their interest. In most cases managers play a vital role in acknowledging complaints, monitor and handle employees, shareholders and customers.
Some of the methods of this communication include reporting BSkyB finances, objectives and strategy via website for a wider audience in its corporate website. This is called Stakeholder engagement which is a process of involving people with high interest in the company that maybe influenced by the decision making of the business. This also forms a key part of Corporate Social Responsibility.
Profit warnings are an example of such communication conveyed to the shareholders to warn them when the market capitalization is low. Providing dividends and increasing profit is important to keep the investors and shareholders satisfied.
DRIP model are often used as a communication strategy to customers to make them aware of certain products or services being offered. Customer plays an important role in shaping up a company’s image; there it is vital for BSkyB to maintain positive relations with its customers.