Marketing communication: principles and practice

Gratification
selves ‘what’s 
relationship
in it for me?’
Coming together 
Sharing
to construct a 
mutually satisfying 
outcome
Figure 5.2
Communication strategies: functional and dysfunctional interfaces

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It is then necessary to examine the nature of each relationship (in terms of
duration, intensity, and function), as well as recognizing that some stake-
holder groups also have relationships with each other.
According to Leaver (1995), ‘capital’ is the stock and flow of resources
needed to produce outputs from inputs. In this sense, an ‘investor’ is someone
who contributes in order to gain a return, and a corporate member is a
steward of the resources and transformation processes employed to create
value for the stakeholders. Thus, stakeholders are those who invest something
in the enterprise (Table 5.1 and see Table 5.2).
M A N A G I N G W I T H S T A K E H O L D E R S
99
Table 5.1
Total stakeholder commonwealth
Source of capital
Stakeholder 
What steward is 
Stakeholder’s pay-
(‘investor’)
accountable for
back (‘bottom-line’)
Human and 
Workers
Know-how, brain use, 
Core competence
intellectual capital
effort, soul
Social capital
Citizens
Talent, energy, and 
Well-being of the 
goodwill of citizens 
community
and their communities
Natural capital
Nature
Abundance of raw 
Sustenance
materials
Consumer capital
Customer
Buying power
Strength of truthful
franchise in the
market
Financial capital
Shareholder
Money
Profit
Source
: Based on Leaver, 1995