Details:

This assignment is the first component of a research and application project that has two segments. You will complete the second component in Module 6. The focus of the project will be to complete a stakeholder management plan around an initiative in an organization that you are involved with currently, will be involved with in the future, or were involved with in the past.

 

General Requirements:

 

Use the following information to ensure successful completion of the assignment:

• Download the document, "Stakeholder Management Tool." Use it to complete the assignment.
• Download the document, "Sample Application of Stakeholder Management Tool." Read this document to see an example of how the "Stakeholder Management Tool" was used to create a stakeholder plan. Use it as you complete the assignment.
• APA style is require for their writing this assignments.
• The assignment should consists of introduction (stating the purpose of the assignment, Body ( subtopics) and conclusion
• This assignment requires that at least two additional scholarly research sources related to this topic, and at least one in-text citation from each source be included for each of the three components of the paper included in this assignment.

Follow the instructions in the "Stakeholder Management Tool" to complete steps 1 through 4 of the stakeholder management planning process. Submit the completed tables along with your paper.

1. Complete Step 1 by filling in the table in Figure 2 to identify all of the potential stakeholders involved.
2. Complete Step 2 by filling in the table in Figure 3 to assess all of the stakeholders including identifying their current positions, their interests, and their desired positions.
3. Complete Step 3 by filling in the table in Figure 4 to create a plan to align the key stakeholders you identified from Step 2. You should include everyone from whom you need support as well as those whose position regarding the initiative needs to change from neutral or negative to that of positive supporter.
4. Complete Step 4 by filling in the table in Figure 5 to create a balanced scorecard for your initiative.

Use the information from steps 1-4 of the planning process to write a paper of 1,500 words that analyzes the proposed plan. Each section should be roughly equal in length. Provide the following in your paper:

1. A rationale for the initiative based on the value of completing a stakeholder management plan.
2. A rationale for your analysis and decisions in Steps 1 and 2. Why did you identify these individuals or groups as stakeholders? How do the needs of these internal and external stakeholders differ? Why are their positions or interests significant to the success of the proposed initiative?
3. A rationale for your analysis and decisions in Steps 3 and 4. Why was the information revealed as you met with stakeholders to conduct the alignment process valuable? How are the needs of the stakeholders interdependent? How does the view of each stakeholder contribute significantly to the balanced scorecard?
4. MGT 815  Stakeholder Management Tool 
5.  
6. Introduction
7. As companies attempt to maximize stakeholder value, much of the focus on stakeholders and stakeholder value creation remains focused on theory and, to a lesser extent, its application for value creation for the organization. At the same time there is a need for tools and approaches to enable managers and leaders to identify stakeholders, analyze how to add value, align stakeholders, and measure the impact to the stakeholders and the organization in which they have a stake. Maul (2007) provides one model of a tool to address this need. 
8.  
9. Stakeholder Management Tool: Overview (Figure 1)
10. This tool (Maul, 2007) has been developed to identify stakeholders; align them around an initiative, strategy, or organization; and develop an engagement and communications plan to ensure the ongoing. 
11.  
12. Step 1: Identify Potential Stakeholders 
13. Who might have a stake in the initiative, strategy, or organization? 
14. Step 2: Assess Stakeholder Position and Interests 
15. What is their position on the initiative, strategy, or organization?
16. What do you think are their interests relative to the initiative, strategy, or organization?
17. What do they value relative to the initiative, strategy, or organization?
18. Step 3: Meet With and Align Stakeholders
19. Uncover their true interests and values.
20. If not aligned with your position, move them toward alignment. 
21. Step 4: Create a Stakeholder-based Balanced Scorecard
22. Use this to measure the stakeholder value you want to create. 
23. Step 5: Develop Engagement and Communications Plan 
24. The plan will ensure the ongoing alignment of the stakeholder. 
25.  
26. Step 1: Identify Potential Stakeholders (Figure 2)
27. Identify and define who the potential key stakeholders are for a particular initiative, strategy, or organization. 
28.  
29. Focus on including all possibilities at this step rather than on ensuring they have a major stake. 
30. There are potential external stakeholders, for example: customers, clients, unions, shareholders or owners, financial backers, suppliers, community, or government.
31. There are potential internal stakeholders, for example: Board of Trustees, CEO, executives, managers, employees, one’s own team, peers, one’s boss, and even the organization as a whole.
32.  
33. Step 2: Assess Stakeholder Position and Interests (Figure 3)
34. What is their current position on the initiative, strategy, or organization? 
35. What position do you want them to hold? 
36. What do you perceive to be their interests in the initiative, strategy, or organization?
37. What do they value relative to the initiative, strategy, or organization?
38. At this stage these interests or values are merely perceptions, not reality.
39.  
40. Step 3: Meet With and Align Stakeholders (Figure 4)
41. Align the stakeholders’ position with your position, that is, the position in which you want them to be. To accomplish this, you must do the following;
42.  
43. Meet with the stakeholders to understand their actual interests and values as they apply to the particular initiative, strategy, or organization.
44. Begin to negotiate a win-win situation relative to the initiative, strategy, or organization.
45. Identify how they want to be involved over time. 
46.  
47. Step 4: Create Stakeholder-based Balanced Scorecard (Figure 5)
48. Design a Stakeholder-based Balanced Scorecard to measure the stakeholder value to be created. Do the following to design the scorecard: 
49.  
50. List each stakeholder in a column heading. 
51. Identify or develop the measure for each of the stakeholder’s values and record it.
52. Identify or develop the metric to assess each measure and record it. 
53.  
54. Step 5: Develop Engagement and Communications Plan (Figure 6)
55. The final step is to develop a communications and engagement plan to ensure the ongoing alignment of the stakeholder. 
56.  
57. Develop a tactical plan for engaging and communicating to the various key stakeholder groups. 
58. Engagement and communications techniques can include: status reports, meetings for input on key issues and options, inclusion in key meetings, providing recognition for their contributions, and communicating Balanced Scorecard™ results/impact. 
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60. It is important to continue engaging stakeholders in the same manner committed to them previously.
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62. References 
63. Maul, J. P. (2007). A stakeholder management tool for creating stakeholder value. Unpublished presentation.
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70. Figure 1: Stakeholder Management Tool for Creating Stakeholder Value
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76. Identify Potential Stakeholders   
77. Internal Stakeholders Own Team/Group External Stakeholders   
78. Senior leadership groups
79. Boss and other leaders
80. Head or senior leaders   
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91. Peer groups SELF Peers   
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102. Employees Own employees Employees and staff   
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114. Figure 2: Step 1: Identify Potential Stakeholders
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120. Assess Stakeholder Position And Interests   
121. Potential Stakeholders Current Position Desired Position for Success of Initiative, Strategy, or Organization Perceived Interests and Values (before meeting with them) Key Contacts/Resources for Information on Stakeholders   
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134. Figure 3: Step 2: Assess Stakeholder Position and Interests
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136.  
137. Meet With and Align Stakeholders   
138. Potential Stakeholders Current Position Desired Position for Success of Initiative, Strategy, or Organization Perceived Interests and Values (before meeting with them) Actual Interests and Values (after meeting with them) Meet with Stakeholder
139. Who
140. Approach
141. Goals Meeting Outcomes
142. Position
143. Engagement Plan
144. Communication Plan
145. Suggestions and ideas   
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155. Figure 4: Step 3: Meet With and Align Stakeholders
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162. Create a Stakeholder-based Balanced Scorecard   
163. Executives in Potential Medium-sized Businesses* Small Business Customers* Consumer Customers* Board of Directors/Trustees* CEO*   
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185. Bank Employees* Other Bank VPs* Environment* Community* VP of Marketing & Product Development*   
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206.   *These stakeholders are EXAMPLES. You may find them useful, but your scenario may require different stakeholders.
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209. Figure 5: Step 4: Create a Stakeholder-based Balanced Scorecard
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217. Develop Engagement And Communications Plan   
218. Stakeholder Actual Values and Interests Engagement Tactics
219. What
220. When
221. By Whom Communications Tactics
222. What
223. When
224. By Whom Status and Impact   
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242. Figure 6: Step 5: Develop Engagement and Communications Plan 
243. Sample Application of Stakeholder Management Tool 
246. Analysis: Recommend a Strategic Service Strategy for a Local Community Bank 
248. Investigator: The Vice President of Marketing and New Product Development
253. Scenario Description
255. This scenario provides an example of how to do a stakeholder analysis using the Stakeholder Management Tool for Creating Stakeholder Value. The vice president (VP) of marketing and new product development at a local community bank has been chosen to conduct the analysis. The VP will use the findings of his analysis to recommend a future strategic service strategy, for the bank, to the CEO and board of directors. The banking scenario was selected because all of you have equivalent knowledge of this business, based on your experience as a bank customer. 
257. The Organization
259. The Southwest Community Bank’s (SWCB) new CEO had hired a consulting firm to do a strategic service opportunity analysis and develop a set of three potential strategic service visions/directions for the bank she runs. SWCB has always been recognized as a leader in their community. SWCB has been one of only two banks in the town for over 40 years. Their customers include mostly local consumers and about 500 small business owners. The bank’s service focus has always been to serve their community by adding value to the key stakeholders in the community.  
261. Current Service Strategy
263.  Currently SWCB has a very traditional service strategy focused on providing a full set of banking services to their consumer customers. These services include checking accounts, loans and mortgages, and savings accounts. Recently they have offered some conservative saving instruments such as CDs.  Their small business customers have been growing over the past three years. They offer small businesses business savings, business checking, capital loans for equipment, as well as technology and vehicle, and business property mortgages. They hope to attract the three medium size businesses that are considering relocating in their community. 
267. Demographic Changes
269.  The board brought in the new CEO about six months ago to provide the needed leadership in a market, which has undergone tremendous change in the past three years.  The community is changing from a rural agricultural community to a community that is attracting small and medium-sized businesses because of the beautiful environment, growing population, low cost of property, high quality of life, and low cost of living. The population of the town has increased 40% in the past five years and is now approaching 100,000 people. There are over 500 small businesses and they hope to attract the three new medium-sized businesses. The growth of the town has attracted a new “national” bank that is providing strong competition for SWCB. This “national” bank is a full-service bank focused on growing in the consumer, small business and medium-sized business markets by providing a very robust set of services at low rates. Their overall service strategy is low cost, efficiency, convenience, and a full range of products and services
271. Organization’s Strengths
273.  The Southwest Community Bank (SWCB) has a number of strengths that have created a well-recognized brand image in the community. Recently, SWCB won a major award for its exceptional customer service.  It provides excellent customer service and, most of all, plays a major role in all aspects of the community. SWCB has a reputation for hiring all its employees locally and retaining the employees because they are treated very well.  
275. Challenges Facing the Organization
277. At the same time, SWCB is facing a number of challenges.  It is under financial pressure by the board of trustees to reduce unit costs and increase revenues in order to survive as new competitors enter the market. At the same time, the board wants to remain a local bank serving the community and wants to ensure they are not acquired by one of the new national banks in town. The board is concerned, since some of their small business customers are considering leaving in order to get a broader range of services at a lower cost. 
279. Strategic Service Strategy Alternatives
280.  When the new CEO started in the position, she worked with a consultant specializing in the banking industry to identify three new strategic service (opportunities) strategies.  Each of these alternatives proposes a very different vision of the service strategy that will successfully transition SWCB into the future. These three strategic service strategies are: 
290. Remain a local community bank focused on high quality service and adding value to all stakeholders: Remain a local community bank focused on serving consumer customers. Remain low costs by providing a limited range of banking services. Continue to provide exceptional customer service and play a leadership role in the community. Avoid some of the ideas such as adding a drive-up window that would prevent your employees from building a close relationship with every customer every time they come in. The “feeling of friendship and community” has been your source of competitive advantage and the focus of your branding. This approach will clearly leverage the current strengths of the bank and enable it to grow as new consumer customers move into the town. The bank will retain at least 75% of its small business customers. 
291. Transform into a full-service community bank focused on service and cost effectiveness as well as serving the community: Transform the bank into a full-service bank while still maintaining a focus on community service and adding value to all local stakeholders.  Develop a broader set of products and services to serve the consumer and small business customers.  Continue to provide exceptional customer service and play a leadership role in the community. Taking this approach will retain the current consumer customers and begin to attract more small business customers, while still serving the community.  
292. Transform into a full-service bank focused on broad services, which compete with the new national banks coming into the community: This approach requires transforming the bank in two very different ways. First, the bank must develop a full set of services for the consumer, small business, and medium business customers. Second it will have to focus on improving its efficiency and cost effectiveness. To realize these improvements it will benchmark the national banks and select strategies that have led to their success. The focus will be on efficient services and cost effectiveness.  This strategy will retain many of the consumer and small business customers and position the bank to enter the medium size business market. 
296. The Stakeholder Role(s) to Consider 
298. The investigator, that is, the person completing the comprehensive stakeholder analysis, is the vice president of marketing and new product development, who is responsible for marketing and new product development for the bank. Recently hired by the new CEO, he has worked for both large national banks and for a very successful, growing, small community bank in rural Florida. The VP has been asked to do a comprehensive stakeholder analysis to help the CEO and the board of directors select one of the three strategic service strategy alternatives. The “Stakeholder Management Tool for Creating Stakeholder Value” will be used for this comprehensive stakeholder analysis.
302. There are a number of primary stakeholders in this scenario, both within the bank and within the community. They are:
304. Medium-sized business customer: There are a few potential medium-sized businesses that have considered moving their business into the town. Most are focused on a broad range of services at little or no costs.  And they want to be able to integrate their systems and technology with the bank’s system and technology.
305. Small business customer: The small business owners have business accounts that can include a business checking account, business savings account, a business line of credit, capital equipment loans, and vehicle loans.
306. Consumer customer: They have individual accounts, which can include a checking account, savings account, home mortgage, auto loan, and CDs.  
307. Board of directors/trustees: They are members of community businesses who have a vested interest in the performance of the bank; growth and increased profit for the bank means increased support for the community.
308. CEO: The chief executive officer’s responsibility is to align the company, internally and externally, with their strategic vision. The core duty of a CEO is to facilitate business outside of the company while guiding employees and other executive officers. A CEO must balance internal and external initiatives to build a sustainable company.
309. Bank employees: The bank has three branches with approximately 80 employees. Most have been in the bank between 10 and 20 years and have focused on consumer services. A group of 10 employees focus on the small business customer. 
310. Other VPs in the bank: These executive officers of the bank are in charge of various functions such as risk, credit, auditing, and human resources.  They have a vested interest in the performance of the bank’s growth, increased profit, and support for the community.   
311. Environment: The environment includes the natural environment within which this community sits.  It is a beautiful environment. Local environmental groups are concerned about the growth of the town and the bank. 
312. Community: The community includes all of the people and organizations within the community. This community is known for having a very high quality of life. 
313. Bank VP of marketing and new product development: You are in charge of marketing and new product development for the bank. You were recently hired into this position by the new CEO.  You have worked for both large national banks and for a very successful, small community bank in rural Florida. 
315. Using the Stakeholder Management Tool for Creating Stakeholder Value
317. The various sections of this tool were completed considering the instructions in the course.  This tool should be used flexibly since every business scenario will be different. The overall model is shown in Figure 1 below. 
320.   
321. Step 1: Identify the Potential Stakeholders (Figure 2)
323. First, identify and define who the potential key stakeholders are for a particular initiative, strategy, or organization. There are a variety of different potential stakeholders external to the organization as well as internal to the organization. External stakeholders can include customers, clients, or service recipients such as students. Other external stakeholders include shareholders or owners, government, community, society at large, the environment, future generations, unions, suppliers, financial backers, or special interests groups. Internal stakeholders can include boards of trustees, CEO, executives, managers, employees, the organization as a whole, particular departments or functions, employees at large, one’s own team, peers, one’s boss, etc. It is important in this step to identify all groups and individuals that hold a stake in the initiative, strategy, or organization. The focus should be on including all possibilities at this step rather than on ensuring they have a major stake.
327.  
328. Identify Potential Stakeholders   
329. Internal Stakeholders Own Team/Group External Stakeholders   
330. Senior leadership groups Boss and other leaders Head or senior leaders   
331. None
334. CEO
337. Executives in medium-sized business
338. Town council leaders
339. The environment
340. Community leaders and community   
341. Peer groups SELF Peers   
342. Other VPs in the bank
343. VP of Marketing and New Product DevelopmentSmall Business customers   
344. Employees Own employees Employees and staff   
345. Bank employees None report to her Consumer customers  
347. Figure 2: Step 1: Identify the Potential Stakeholders
351. Step 2: Assess Stakeholder Position and Interests (Figure 3)
353. Second, assess where they sit in terms of that particular initiative, strategy, or organization, as well as where you ultimately need them to be. Also identify their perceived interests or what they value relative to the initiative, strategy, or organization. In terms of where they sit you can identify them as likely to be a strong supporters, a possible supporter, a major sponsor, a provider of resources, a strong opponent, a possible opponent, a “negative naysayer,”  neutral, or many may not be stakeholders. You may also invent other categories if needed for the analysis. In terms of where you need them to ultimately sit for your initiative, strategy, or organization you can identify them as needing to be a strong supporter, a supporter, a major sponsor, a “positive naysayer,”  neutral, or they are not a stakeholder. The “positive naysayer” role can be an important one in identifying risks and ensuring the success of the project. 
355. It is also important in this step to identify their perceived interests or values.  Some values or interests include: taking a financial return perspective, avoiding risk, servicing the customer or client, meeting upper management expectations, getting recognition for contributions, providing services that are worth what they were paid for, traditions, high quality, low costs, etc. There are dozens of possibilities.  It is important to define these interests or values from a positive perspective. At this stage these interests or values are merely perceptions, not reality. 
359.  
360. Assess Stakeholder Position And Interests   
361. Potential Stakeholders Current Position Desired Position for Success of Initiative, Strategy, or Organization Perceived Interests and Values (before meeting with them) Key contacts/resources for information on stakeholders   
362.   
363. Executives in potential medium-sized businesses Neutral Supportive Efficiency
364. Low cost
365. Convenience CFO   
366. Small business customers Neutral Supportive Grow business
367. Low cost
368. Takes minimum time
369. New business services Small business client group in the bank   
370. Consumer customers Neutral Supportive Friendly service
371. Low cost Customers’ tellers   
372. Board of Directors/ Trustees Supportive Supportive Grow the bank
373. Profit
374. Contribute to the community Board members   
375. CEO Supportive Supportive Grow the bank
376. Profit
377. Contribute to the
378. community CEO   
379. Bank employees Neutral Supportive Retain job
380. Job opportunities
381. Satisfy customers
382. Serve community Employees   
383. Other VPs in the bank Neutral Supportive Grow the bank
384. Profit
385. Contribute to the
386. community Other VPs   
387. The environment Neutral Supportive Remain clean Environmental group leaders   
388. The community Supportive Supportive Retain high quality of life
389. Bank support of community events Community leaders   
390. Self: VP of Marketing and New Product Development Supportive Supportive Grow the bank
391. Profit
392. Contribute to the
393.     community Self  
396. Figure 3: Step 2: Assess Stakeholder Position and Interests
404. Step 3: Meet With and Align Stakeholders (Figure 4)
406. Third, it is important to engage the stakeholder in order to understand their actual values or interests as they apply to the particular initiative, strategy, or organization. Also, the tactics to align them to the initiative, strategy, or organization are defined. In this stage someone needs to meet with the stakeholder and possibly members of their team or organization to review the organization’s focus, the strategy, or the initiative.  The intent of this meeting(s) is to understand their interests and values and begin to negotiate a win-win situation relative to the initiative, strategy, or organization. 
408. The desired end state for this step is to have the stakeholders in the position in which you need them, whether that is strong supporters, a supporter, a major sponsor, provide resources, a “positive naysayer,”  neutral, or they agree they are not a stakeholder. And you clearly understand their values or interests, which are the basis of negotiating a win-win situation with them. In this step it is important to identify how they will be involved over time.  Do they want to be directly involved, have a representative, be apprised of the situation, have input into key decisions, or be communicated to in terms of progress and status? The role should be jointly negotiated.  You now have the list of key stakeholders for the initiative, strategy, or organization, and you have an ongoing alignment strategy. 
413.  
414. Meet With and Align Stakeholders   
415. Potential Stakeholders Current Position Desired Position for Success of Initiative, Strategy, or Organization Perceived Interests and Values (before meeting with them) Actual Interests and Values (after meeting with them) Meet with Stakeholder
416. Who
417. Approach
418. Goals Meeting Outcomes
419. Position
420. Engagement plan
421. Communication Plan
422. Suggestions and ideas   
423.   
424. Executives in potential medium-sized businesses
425. Neutral
426. Supportive
427. Efficiency
428. Low cost
429. Convenience CFO Still neutral.  Wants to see final product strategy.   
430.   -- -- 
431.   
432.   -- --   
433.   --   
434. Small business customers Neutral Supportive
435. Grow business
436. Low cost
437. Takes minimum
438. time
439. New business
440. services Top 20 small business owners.
441. Small business client group in the bank. Supportive
442. Group is forming a small business consortium.   
443.   -- --   
444.   -- --   
445.   --   
446. Consumer customers
447. NeutralSupportive
448. Friendly service
449. Low cost Tellers Position unknown   
450.   -- --   
451.   -- --   
452.   They recommend focus groups with top customers   
453. Board of Directors/ Trustees Supportive
454. Supportive
455. Grow the bank
456. Profit
457. Contribute to      community Board members All are supportive   
458.   Appointment They have volunteered to  help with community groups and town council   
459.   -- --   
460.   --   
461. CEO
462. SupportiveSupportive
463. Grow the bank
464. Profit
465. Contribute to
466. community CEO Supportive   
467.   -- --   
468.   -- --   
469.   --   
470. Bank employees Neutral
471. Supportive
472. Retain job
473. Job opportunities
474. Satisfy customers
475. Serve community Bank employees Remains neutral   
476.   Focus group Appreciate new skills training offer for future   
477.   -- --   
478.   Strong potential to become supportive   
479. Other VPs in the bank
480. NeutralSupportive
481. Grow the bank
482. Profit
483. Contribute to 
484. community Other VPs Supportive   
485.   -- --   
486.   -- --   
487.   --   
488. The environment
489. NeutralSupportive
490. Remain CleanLeaders of top 2 environmental groupsPotential to become supportive if bank goes “Green.”   
491.   Meetings with Board --   
492.   -- --   
493.   --   
494. The community Supportive
496. Supportive
497. Retain high quality of life
498. Bank support of community events Top 3 leaders from community Supportive if strategy includes community focus.   
499.   Meetings with Board --   
500.   -- --   
501.   --   
502. Self: VP of Marketing and New Product Development Supportive Supportive
503. Grow the bank
504. Profit
505. Contribute to the
506. community NA --   
507.   -- --   
508.   -- --   
509.   --  
512. Figure 4: Step 3: Meet With and Align Stakeholders
517. Step 4: Create Stakeholder-based Balanced Scorecard (Figure 5)
520. Fourth, design a stakeholder-based Balanced Scorecard to measure the proposed stakeholder value to be created. After each of the key stakeholders has been aligned with the initiative, strategy, or organization, that alignment must be maintained. This is best done by measuring the stakeholder’s values. Favorable results, which demonstrate to the stakeholder their values are being met or exceeded, will motivate the stakeholder to remain engaged and aligned. To accomplish this goal, first measures of the values need to be identified or developed. Then, metrics for each measure need to be identified or developed. The following table identifies the measure and it’s metric for each stakeholder’s values. Each bulleted item in a stakeholder’s column represents the measure and the metric, divided by a slash.  Example:   
521.    Measure           Metric
522.       Business growth/revenue
528.  
529. Create a Stakeholder-based Balanced Scorecard   
530. Executives in Potential Medium-sized Businesses Small Business Customers Consumer Customers Board of Directors/Trustees CEO   
532. Efficiency of bank/cost-benefit analysis 
533. Low cost/cost analysis 
534. Convenience/customer survey 
536. Business grow/revenue
537. Low cost/cost analysis
538. Takes minimum time/on-time delivery
539. New business services/quantitative
540. New technologies of services/quantitative
541. Satisfaction with service/survey
542.  Value perception/ survey
543. Low cost/perception survey, comparative cost data (with other local banks)
545. Bank growth/revenue, retain top 40% of customers by type
546. Profit increase/return on equity
547. Community contribution/ value of donations, number of events supported, number of new customers
548. Bank Growth/revenue, retain top 40% of customers by type 
549. Profit increase/return on equity
550. Community contribution/ value of donations, number of events supported & new customers  
552.   
553. Bank Employees Other Bank VPs Environment Community VP of Marketing & Product Development   
555. Job retention/statistical %
556. Satisfied customers/customer survey results 
557. New job opportunities/ number training courses given & participants, number or % promotions, 
558. Community service/number of volunteer projects, number of volunteers,  donations
559. Bank Growth/revenue, retain top 40% of customers by type 
560. Profit increase/return on equity
561. Community contribution/ value of donations, number of events supported & new customers
562. Number of “Green” initiatives/quantitative 
563.  Number of “Green” awards/quantitative
565. Quality of life/assessment Instrument
566. Bank’s support/number of events supported, donations
567.  Brand recognition increase/survey 
569. Bank growth/revenue, retain top 40% of customers by type 
570. Profit increase/return on equity
571. Community contribution/ value of  donations, number of events supported, number of new customers  
573. Figure 5: Step 4: Create Stakeholder-based Balanced Scorecard
609. Step 5: Develop Engagement & Communication Plan (Figure 6)
611. Fifth, develop a communications and engagement plan to ensure the ongoing alignment of the stakeholder. Based on the meetings with the stakeholders in Step 3, a tactical plan should be 
612. developed for engaging and communicating to the various key stakeholder groups. Engagement and communications techniques can include: having them on the team, providing status reports, meeting with them for input on key issues and options, including them in key meetings, providing them recognition for their contributions, and communicating Balanced Scorecard results/impact. It is important at this stage to continue to engage them in whatever manner that was committed to in meetings with them. 
614.  
616.  
617. Develop Engagement And Communications Plan   
618. Stakeholder Actual Values and Interests Engagement Tactics
619. What
620. When
621. By whom Communications Tactics
622. What
623. When
624. By whom Status and Impact   
625. Executives in potential medium-sized businesses
626. Efficiency
627. Low cost
628. Convenience Meetings Meetings Have received RFP from the company   
629.   Ongoing Ongoing   
630.   Bank CEO Bank CEO   
631. Small business customers Grow business
632. Low cost
633. Takes minimum time
634. New business services
635. New technologies Small Business Council Small Business Council Web site Five new businesses in one month   
636.   -- --   
637.   Hosted by Bank --   
638. Consumer customers
639. Friendly service
640. Low cost
641. Bank serves the 
642. community
643. Protect environment Video of bank executives, community leaders and environmental groups play in the bank Video of bank executives, community leaders and environmental groups play in the bank Customer satisfaction up 1.8%   
644.   -- --   
645.   Bank executives, community leaders and environmental groups Bank executives, community leaders and environmental groups   
646. Board of Directors/ Trustees Grow the bank
647. Profit
648. Contribute to the
649.       community Presentations at Board meetings Quarterly report on status of strategy Board approved recommended strategic direction   
650.   -- Quarterly   
651.   -- --   
652. CEO
653. Grow the bank
654. Profit
655. Contribute to the
656. community Meetings on goals Status report on strategy
657. attainment Approved recommended strategic direction   
658.   Monthly Monthly   
659.   -- --   
660. Bank employees Retain job
661. Job opportunities
662. Satisfy customers
663. Serve community Focus groups New bank web site Employees getting more involved in initiatives   
664.   Quarterly --   
665.   -- --   
666. Other VPs in the bank
667. Grow the bank
668. Profit
669. Contribute to the
670.       community Lunches Lunches;
671. Status report on strategy
672. attainment No change   
673.   Periodic Periodic
674. Monthly   
675.   -- --   
676. The environment
677. Remain CleanJoin one of the business groups“Going Green Alerts” for initiatives and awards sent to stakeholdersTwo “Green” initiatives started by employees   
678.   -- --   
679.   -- --  
685.   
686. The community Retain high quality
687. of life
688. Bank support of 
689. community events Council of Community Leaders Support community 
690. initiatives yearly
691. Put initiatives on bank 
692. internal and external
693. Web sites Council established     
694.   -- --   
695.   Hosted by Bank --   
696. Self: VP of Marketing and New Product Development Grow the bank
697. Profit
698. Contribute to 
699. community NA NA NA   
700.   NA NA   
701.   NA NA  
704. Figure 6: Step 5: Develop engagement and communications plan