An assessment of corporate communication on stakeholder engagement: A case study of an oil company in Lagos.
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Background of the study
Corporate communication is critical for engaging stakeholders and building trust, especially for oil companies operating in high-stakes markets like Lagos. This study assesses how an oil company in Lagos employs corporate communication strategies—including press releases, investor relations, internal communication, and digital outreach—to foster robust stakeholder engagement (Adebola, 2023). Effective communication ensures that stakeholders are well informed about company operations, policies, and performance, thereby enhancing transparency and accountability. The research explores how integrated communication approaches contribute to stronger relationships with investors, customers, and regulatory bodies. By using a combination of traditional media and digital channels, the company aims to deliver consistent messages that reinforce its corporate values and long-term vision. The study utilizes both qualitative and quantitative data, including stakeholder surveys and engagement metrics, to evaluate the impact of communication efforts on stakeholder involvement and trust. The findings are expected to offer actionable recommendations for optimizing corporate communication to boost stakeholder engagement and support overall business success (Chinwe, 2024).
Statement of the problem
Oil companies in Lagos often experience challenges in engaging stakeholders effectively due to fragmented corporate communication practices. Inconsistent messaging and delayed information dissemination can lead to reduced trust among investors, customers, and regulatory bodies (Obi, 2024). These issues hinder the company’s ability to build lasting stakeholder relationships and negatively impact overall business performance. This study seeks to identify the gaps in current corporate communication strategies and evaluate how integrated approaches can enhance stakeholder engagement, thereby improving corporate reputation and operational effectiveness.
Objectives of the study:
To assess the impact of corporate communication on stakeholder engagement.
To identify challenges in current communication practices.
To recommend strategies for enhancing stakeholder communication.
Research questions:
How does corporate communication affect stakeholder engagement?
What are the primary challenges in current communication practices?
How can corporate communication be improved to enhance stakeholder engagement?
Significance of the study
This study is significant as it provides insights into the role of effective corporate communication in building strong stakeholder relationships for oil companies. The findings will help refine communication strategies that enhance transparency and trust, ultimately contributing to improved business performance. The research offers valuable recommendations for practitioners and enriches academic literature on corporate communication (Adebola, 2023).
Scope and limitations of the study:
The study is limited to a single oil company in Lagos and focuses exclusively on corporate communication and stakeholder engagement.
Definitions of terms:
Corporate Communication: The strategic dissemination of information to manage relationships with stakeholders (Ike, 2023).
Stakeholder Engagement: The active involvement of stakeholders in an organization’s communication processes (Emeka, 2023).
Oil Company: A business involved in the extraction and production of oil (Oluwaseun, 2023).
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