Stakeholders are groups or individuals who have an interest in the decisions of the company and its business. Stakeholders can be internal to the business, such as employees, or external, like suppliers, customers or the public.
A company may have shareholders who can be internal or external stakeholders. As a private company, the families who own Amway are its sole shareholders. It is important that Amway communicates regularly with its stakeholders. They can affect or be affected by the business.
Amway uses different ways to communicate with its various groups of stakeholders. The method chosen depends on the message and the person receiving the message:
Websites, emails and voice mail updates promote products and services to ABOs and customers and keep them up-to-date
Industry and trade memberships enable Amway to share and receive industry information
Publications target key sales messages, for example, its monthly newsletter for ABOs, Amway Focus
Events and exhibitions help Amway to communicate to ABOs, consumers and guests about running an Amway business and the products it can provide.