Snap Inc. is a camera and technology company founded in the year in 2011 in the United States. The company is owned by Evan Spiegel and Bobby Murphy and at present has more than 3000 employees globally. In the age of social media, a company like Snap Inc. has earned a favorable reputation around the world for enabling people to express themselves and to capture the moment they are living in (Bayer et al. 2016). The company mainly has four products, namely Bitmoji, Snapchat, Zenly and Spectacles (Snap.com 2018). Out of the four, it is Snapchat which has emerged as a raging trend in almost all countries around the globe. It was initially known as Snapchat Inc. However, it was rebranded to accommodate the other products under the same banner.
The term, “stakeholder” refers to an individual or a group of individuals who are affected by changes or policies within an organization or have the power to influence the operations or performance of an organization (Verbeke and Tung 2013). In the stakeholder map below, the various stakeholders of Snap Inc. have been identified and mapped.
(Figure: Stakeholder map)
The stakeholders, as shown in the diagram, can be differentiated into two categories – internal and external. They can be defined as follows:
Internal stakeholders
External stakeholders
Four stakeholders have been selected for the purpose of this report. The two internal stakeholders selected would be the employees and the management. Two external stakeholders selected would be the customer and the society. In the following section, the stakeholder behavior and motives will be analyzed.
Employees
Suffice to say, employees are some of the most vital stakeholders within an organization (Majava, Harkonen and Haapasalo 2014). Accordingly, various measures have to be taken by the concerned organization (Snap Inc.) to ensure that the staff members are satisfied and content, in order to optimize employee engagement. In many ways, it can be said that the workforce of the organization contributes to the firm in a number of fundamental ways. Employees technically constitute the organization as a whole and are its most important resources. An employee would directly be affected by the failure or success of an organization. The role of employees as stakeholders would be shaped and developed by personal and professional relationships within the office, accrued resources, investment of specialized skills and experience and so on. For example, many employees of Snap Inc. have made substantial investments into their work, which would include change in personal relationships, geographical moves or even training. Moreover, concepts of self identity and that of self actualization would be deeply rooted in their work.
Employees too have an effect on the overall performance level of an organization. The way an employee feels towards his or her job would determine his levels of productivity. There are various motives that affect the role of employees as stakeholders at Snap Inc. They may be described as follows:
Management
The role of a manager is slightly more complicated, as far as stakeholders are concerned. A manager is not the owner or an executive at an organization; he is an ordinary employee. Yet, he is often involved in decision making which would involve other stakeholders. As a matter of fact, the management acts as a sort of intermediary between the board of directors and employees at Snap Inc. The decisions taken by the board of directors is to be communicated to the employees and vice versa. As such, the management strategies implemented by the management would be crucial in determining the performance of Snap Inc. as a whole. The managers are expected to devise effective strategies and policies that would eliminate the loopholes within the operations and pave the way for seamless functioning. The behavior traits that are observed in the management at Snap Inc. would be that of leadership. Leadership practices are used by the managers to guide and aid the subordinates or the teams working on various projects (Bolden 2016). A manager is not expected to simply exert his authority. Instead, he is expected to engage his subordinates and promote active participation.
Customer
It can be firmly asserted that Snap Inc.’s most important stakeholders would be the customers who regularly use their products and services. In short, the company would cease to exist without its customers. For example, without people using the Snapchat application, the company’s overall revenue would fall. In an era of technological advancement, most consumers are turning to social media platforms like Bitmoji or Snapchat (Piwek and Joinson 2016). The advent of mobile applications have changed consumer preferences and buying motives. Here are some motives that trigger consumers to opt for Snap Inc.:
Society
Any company would have a responsibility towards the surrounding communities and society. The operations of Snap Inc. would either positively or negatively affect the communities. Similarly, cultural values, traditions, beliefs and the attitudes of people in the neighboring communities would have an impact on the mode of operations at the organization. Community stakeholders would involve people, organizations and groups who have an interest in the community and would stand to be affected by the objectives, policies and actions of the company.
The four stakeholders in the above section can be segregated into two categories – internal and external stakeholders (Pinheiro 2015). The employees and the management form the internal stakeholders of the company whereas the customers and the society form the external stakeholders of the company.
Strategic programs for the stakeholders
Conclusion
To conclude, it can be said that stakeholder engagement is one of the most important aspects of strategic management at any organization. At Snap Inc., the main internal and external stakeholders would be the employees and management and the customer and communities respectively. The company, founded by Spiegel and Murphy, does have certain strategic programs for management of stakeholders. However, it must be realized that a social media company like Snap In. is entirely based on customer service and the quality of customer experience. In order to optimize this, the aforementioned recommendations can be incorporated into the existing business strategies
References
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Bayer, J.B., Ellison, N.B., Schoenebeck, S.Y. and Falk, E.B., 2016. Sharing the small moments: ephemeral social interaction on Snapchat. Information, Communication & Society, 19(7), pp.956-977.
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Bolden, R., 2016. Leadership, management and organisational development. In Gower handbook of leadership and management development (pp. 143-158). Routledge.
Buttner, E.H. and Lowe, K.B., 2017. Addressing internal stakeholders’ concerns: The interactive effect of perceived pay equity and diversity climate on turnover intentions. Journal of Business Ethics, 143(3), pp.621-633.
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Majava, J., Harkonen, J. and Haapasalo, H., 2014. The relations between stakeholders and product development drivers: practitioners’ perspectives. International Journal of Innovation and Learning, 17(1), pp.59-78.
Mishra, K., Boynton, L. and Mishra, A., 2014. Driving employee engagement: The expanded role of internal communications. International Journal of Business Communication, 51(2), pp.183-202.
Pinheiro, R., 2015. The role of internal and external stakeholders. In Higher Education in the BRICS Countries (pp. 43-57). Springer, Dordrecht.
Piwek, L. and Joinson, A., 2016. “What do they snapchat about?” Patterns of use in time-limited instant messaging service. Computers in Human Behavior, 54, pp.358-367.
Saeidi, S.P., Sofian, S., Saeidi, P., Saeidi, S.P. and Saaeidi, S.A., 2015. How does corporate social responsibility contribute to firm financial performance? The mediating role of competitive advantage, reputation, and customer satisfaction. Journal of business research, 68(2), pp.341-350.
Saxton, G.D. and Waters, R.D., 2014. What do stakeholders like on Facebook? Examining public reactions to nonprofit organizations’ informational, promotional, and community-building messages. Journal of Public Relations Research, 26(3), pp.280-299.
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Vaterlaus, J.M., Barnett, K., Roche, C. and Young, J.A., 2016. “Snapchat is more personal”: An exploratory study on Snapchat behaviors and young adult interpersonal relationships. Computers in Human Behavior, 62, pp.594-601.
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