In part 3 of your business consulting plan, due in week 9, you will focus on how the company leadership should execute your recommendation. A communication plan is an essential element in the successful implementation of any major change at a company. This activity will allow you to draft a communication plan and submit it for feedback, before incorporating it into your week 9 assignment. 1. Provide background information on the selected company and the Challenge or Opportunity. The company is JP Morgan and Chase CO. The opportunity is Expanding Digital Banking Capabilities to Enhance Customer Engagement. 2. State the overall objective of the communication plan. For example: The objective of this plan is to engage stakeholders, gather their concerns or recommendations, and ensure their active involvement in the project. 3. Identify key stakeholders who are directly or indirectly impacted by the recommended strategy. Indicate if the stakeholder will be leading or following the change(s): 4. Identify the appropriate communication channels and how they will be utilized to effectively reach and engage with the stakeholders. Examples include in-person meetings, online meetings, surveys, email updates, social media platforms, dedicated website project page, etc. 5. Outline the specific mechanisms or activities that will be implemented to actively listen to stakeholders’ concerns or recommendations. Examples include open forums or town hall meetings for stakeholders to express their views. Anonymous suggestion boxes or feedback forms, structured surveys or online polls, focus groups or interviews with selected stakeholders, etc. 6. Provide a timeline for the implementation of the communication plan including important milestones and deadlines. 7. Specify key individuals or departments responsible for executing and overseeing the communication plan. This ensures accountability and clarity in the process. 8. Describe the process for analyzing the collected feedback and developing responses or actions based on stakeholders' concerns or recommendations. This may involve summarizing feedback themes, identifying actionable items, and providing timely and transparent responses. 9. Define the metrics or indicators that will be used to evaluate the effectiveness of the communication plan. This may include feedback response rates, stakeholder satisfaction surveys, or changes in stakeholder perception over time. 10. Outline the categories that could be included in a budget that would be required when implementing the communication plan, and include estimated costs associated with materials, technology, or external resources, as applicable. 11. Identify potential risks or challenges that could impact the success of the communication plan and the engagement of stakeholders. Offer strategies or contingency plans to mitigate those risks. 12. Summarize the next steps and recommend actions required to proceed with the communication plan and stakeholder engagement activities.