Company Internal Stakeholders Memo, Caribbean Cement Company Ltd (Essay Sample)
Overview: Communication with stakeholders outside of an organization is typically the primary target of communication, but equally important are the internal stakeholders to ensure all information is accurate and timely.
Prompt: For this scenario, you are to choose a for-profit corporation/business and imagine yourself as the CEO. Rumors regarding a reduction in workforce due to low sales and budgetary constraints have arisen and the time has come for you to address them. In order to do so, you will need to compose an internal communication memo for your employees to squelch the rumors and bring light to the situation. Your communication should serve to create transparency and awareness, calm fears, alleviate tension, and elevate employee morale. The memo should be easily transferrable to the digital environment with ease of sharing via email and posting to the corporate intranet site.
Internal Stakeholders Communication
Effective communication is an essential component of every company that wants to succeed. In a business environment, communication can either be internal or external. While external communication to customers and investors is the primary focus of the business, internal communication to employees is also important to help boost morale, remove tension and fear, and make the employees feel valued and appreciated which can improve the reputation of the company and attract more customers and investors (CTB, 2017).
Therefore, an effective communication strategy is crucial in writing an internal memo to help convey the message to your audience (Johnson, 2017). In a case study, a company is facing rumors of layoffs due to reduced sales. Consequently most employees of the company are stressed about the rumors and have lost interest in the company. This paper aims to communicate to the company's employees as the CEO and clarify the rumors via an internal memorandum.
To: All Employees - Caribbean Cement Company Ltd
Date: September 29, 2017, 8:00 a.m.From: Student’s Name (CEO, Caribbean Cement Company Ltd)
Subject: Reduction of Workforce
By now you must have heard rumors which are spreading about a reduction in our workforce due to financial constraints facing the company. You must be feeling a little stressed and are asking a lot of questions. As the leader of the company, I take this moment to address the rumor and bring light to the matter.
In the first quarter of 2017, the company recorded a reduction in revenue from the sale of products in comparison to last year. I do not doubt that you all worked hard and contributed the very best in serving our customers in the different market segments. Early this year, the management of the Caribbean Cement company decided to take some strategic steps towards increasing our performance, reducing the operating cost and strengthening our competitive advantage of creating a sustainable brand in the cement industry.
During the first quarter, the company undertook major upgrade on its kiln and milling facility in Kingston that lasted for about a month a half. Also, the packaging facility was temporarily shut down for routine maintenance and repairs. The upgrade and the repairs will not only improve our efficiency and reduce the operating cost, but it will also take care of the environment. The move significantly affected our production capacity leading to a reduction in the volume of our inventory. A substantial amount of capital was used for the upgrade and the repairs that led to the constraint in our operating cash flow. This will be recovered in the second quarter when production picks up.
The credit for the exceptional concrete products we deliver to our customers and the previous and future success of our brand all goes to every one of you. Caribbean Cement Company will continue to make the necessary reconstruction decisions and manage the company in a way that will add value to our lives and the society. We will always keep you informed of all the changes in the company as they come and g...
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