Build Strength in your Business through Stakeholder Engagement.pdfEnterprise Wired
Effective stakeholder engagement involves identifying these diverse groups, understanding their interests, concerns, and expectations, and then devising strategies to foster open and transparent communication.
This document discusses stakeholders in business organizations. It defines stakeholders as any individual or group that can affect or is affected by an organization's actions. Stakeholders are then categorized as internal (e.g. employees, managers) or external (e.g. customers, suppliers, community). The document outlines what each key stakeholder group looks for from the organization. It emphasizes the importance of long-term stakeholder relationships and using stakeholder feedback to help a business succeed. The document also introduces Mendelow's Matrix for analyzing stakeholders based on their power and interest, and notes that addressing conflicting stakeholder goals is important for an organization's performance.
CH -11 CORPORATE GOVERNANCE AND OTHER STAKEHOLDERSBibek Prajapati
CH -11 CORPORATE GOVERNANCE AND OTHER STAKEHOLDERS
FOR CS PROFESSONAL, CA,CMA, MBA
Stakeholder Concept
• Recognition of Stakeholder Concept In Law
• Stakeholder Engagement
• Stakeholder Analysis
• Types of Stakeholders
• Caux Round Table
• Clarkson Principle of Stakeholder Management
• Governance Paradigm and Stakeholders
• Stakeholders provide resources that are more or less critical to a firm’s long-term success. These resources may be both tangible and intangible. Shareholders, for example, supply capital; suppliers offer material resources or intangible knowledge; employees and managers grant expertise, leadership, and commitment; customers generate revenue and provide infrastructure; and the society builds its positive corporate images.
• A director of a company shall act in good faith in order to promote the objects of the company for the benefit of its members as a whole, and in the best interest of the company, its employees, the community and the environment.
• Stakeholder engagement leads to increased transparency, responsiveness, compliance, organizational learning, quality management, accountability and sustainability. Stakeholder engagement is a central feature of sustainability performance.
• Primary stakeholders are those whose continued association is absolutely necessary for a firm’s survival; these include employees, customers, investors, and shareholders, as well as the governments and communities that provide necessary infrastructure.
• Secondary stakeholders do not typically engage in transactions with a company and thus are not essential for its survival; these include the media, trade associations, and special interest groups.
• Customers are considered as the king to drive the market and they can sometimes exercise influence by consolidating their bargaining power in order to get lower prices.
• The lenders put a check and balance on the governance practices of an organization to ensure safety of their fund and as a societal responsibility.
• The organization which builds a mutually strong relationship with its vendors improves its overall performance in the marketplace.
• The society provides the desired climate for successful operation of a company business. If society turns against the company, then business lose its faith in the eyes of other stakeholders be it government or customer.
Stakeholder theory addresses how to manage relationships with various stakeholders, including employees, customers, suppliers, communities, and governments, to optimize efficiency. It notes companies must meet expectations of all stakeholders to be sustainable. The theory originated in the 1980s and emphasizes acknowledging, monitoring, listening to, communicating with, adopting the views of, recognizing, and working with stakeholders while avoiding conflict. Benefits include increased productivity, retention, customer loyalty and investment, while drawbacks are that not all stakeholders can be equally balanced or pleased.
Stakeholders are any individuals or groups that are impacted by or can influence an organization's actions and decisions. There are internal stakeholders like employees, managers, and directors who are directly involved in the business. External stakeholders include the community, government, media, and pressure groups who are not directly involved but have an interest. It is important for organizations to consider all stakeholders because having long-term relationships with them helps the business run more efficiently, gain valuable feedback, and build a sense of community.
The document discusses stakeholders in business. It defines stakeholders as individuals or groups that are affected by or can affect a business's activities. It identifies common internal stakeholders as owners, managers, and employees, and external stakeholders as customers, suppliers, government, and the community. The document notes that stakeholders can have varying interests and levels of power over a business, and that balancing these interests is important for business success and social responsibility.
Stakeholders are any individuals or groups that are impacted by or can influence an organization's actions and decisions. The document defines and discusses internal stakeholders like employees, managers, and directors who are directly involved in the business. It also examines connected stakeholders such as customers, suppliers, and shareholders who are related to the core functions of the business. Finally, it outlines external stakeholders like the government, local community, pressure groups, and media who are not directly involved but have interest in the business. Stakeholders provide feedback, influence product development, build long-term relationships, and help companies achieve their objectives.
1) The document discusses managing stakeholder relationships, including analyzing different types of stakeholders and examining the benefits and challenges of working with stakeholder groups.
2) It defines stakeholders as any person or group with an interest in a company's operations, and identifies different classifications of stakeholders including internal/external and primary/secondary.
3) The benefits of stakeholder engagement are identified as building trust, limiting problems, and improving processes, while challenges include stakeholders having multiple priorities, resistance to sharing information, and difficulties finding shared interests.
Build Strength in your Business through Stakeholder Engagement.pdfEnterprise Wired
Effective stakeholder engagement involves identifying these diverse groups, understanding their interests, concerns, and expectations, and then devising strategies to foster open and transparent communication.
This document discusses stakeholders in business organizations. It defines stakeholders as any individual or group that can affect or is affected by an organization's actions. Stakeholders are then categorized as internal (e.g. employees, managers) or external (e.g. customers, suppliers, community). The document outlines what each key stakeholder group looks for from the organization. It emphasizes the importance of long-term stakeholder relationships and using stakeholder feedback to help a business succeed. The document also introduces Mendelow's Matrix for analyzing stakeholders based on their power and interest, and notes that addressing conflicting stakeholder goals is important for an organization's performance.
CH -11 CORPORATE GOVERNANCE AND OTHER STAKEHOLDERSBibek Prajapati
CH -11 CORPORATE GOVERNANCE AND OTHER STAKEHOLDERS
FOR CS PROFESSONAL, CA,CMA, MBA
Stakeholder Concept
• Recognition of Stakeholder Concept In Law
• Stakeholder Engagement
• Stakeholder Analysis
• Types of Stakeholders
• Caux Round Table
• Clarkson Principle of Stakeholder Management
• Governance Paradigm and Stakeholders
• Stakeholders provide resources that are more or less critical to a firm’s long-term success. These resources may be both tangible and intangible. Shareholders, for example, supply capital; suppliers offer material resources or intangible knowledge; employees and managers grant expertise, leadership, and commitment; customers generate revenue and provide infrastructure; and the society builds its positive corporate images.
• A director of a company shall act in good faith in order to promote the objects of the company for the benefit of its members as a whole, and in the best interest of the company, its employees, the community and the environment.
• Stakeholder engagement leads to increased transparency, responsiveness, compliance, organizational learning, quality management, accountability and sustainability. Stakeholder engagement is a central feature of sustainability performance.
• Primary stakeholders are those whose continued association is absolutely necessary for a firm’s survival; these include employees, customers, investors, and shareholders, as well as the governments and communities that provide necessary infrastructure.
• Secondary stakeholders do not typically engage in transactions with a company and thus are not essential for its survival; these include the media, trade associations, and special interest groups.
• Customers are considered as the king to drive the market and they can sometimes exercise influence by consolidating their bargaining power in order to get lower prices.
• The lenders put a check and balance on the governance practices of an organization to ensure safety of their fund and as a societal responsibility.
• The organization which builds a mutually strong relationship with its vendors improves its overall performance in the marketplace.
• The society provides the desired climate for successful operation of a company business. If society turns against the company, then business lose its faith in the eyes of other stakeholders be it government or customer.
Stakeholder theory addresses how to manage relationships with various stakeholders, including employees, customers, suppliers, communities, and governments, to optimize efficiency. It notes companies must meet expectations of all stakeholders to be sustainable. The theory originated in the 1980s and emphasizes acknowledging, monitoring, listening to, communicating with, adopting the views of, recognizing, and working with stakeholders while avoiding conflict. Benefits include increased productivity, retention, customer loyalty and investment, while drawbacks are that not all stakeholders can be equally balanced or pleased.
Stakeholders are any individuals or groups that are impacted by or can influence an organization's actions and decisions. There are internal stakeholders like employees, managers, and directors who are directly involved in the business. External stakeholders include the community, government, media, and pressure groups who are not directly involved but have an interest. It is important for organizations to consider all stakeholders because having long-term relationships with them helps the business run more efficiently, gain valuable feedback, and build a sense of community.
The document discusses stakeholders in business. It defines stakeholders as individuals or groups that are affected by or can affect a business's activities. It identifies common internal stakeholders as owners, managers, and employees, and external stakeholders as customers, suppliers, government, and the community. The document notes that stakeholders can have varying interests and levels of power over a business, and that balancing these interests is important for business success and social responsibility.
Stakeholders are any individuals or groups that are impacted by or can influence an organization's actions and decisions. The document defines and discusses internal stakeholders like employees, managers, and directors who are directly involved in the business. It also examines connected stakeholders such as customers, suppliers, and shareholders who are related to the core functions of the business. Finally, it outlines external stakeholders like the government, local community, pressure groups, and media who are not directly involved but have interest in the business. Stakeholders provide feedback, influence product development, build long-term relationships, and help companies achieve their objectives.
1) The document discusses managing stakeholder relationships, including analyzing different types of stakeholders and examining the benefits and challenges of working with stakeholder groups.
2) It defines stakeholders as any person or group with an interest in a company's operations, and identifies different classifications of stakeholders including internal/external and primary/secondary.
3) The benefits of stakeholder engagement are identified as building trust, limiting problems, and improving processes, while challenges include stakeholders having multiple priorities, resistance to sharing information, and difficulties finding shared interests.
Internal and External publics of Public Relations by Shaining Star LyngdohStar Lyngdoh
The document discusses the internal and external publics of public relations. It defines internal publics as people employed by or members of an organization, including shareholders, employees, suppliers, distributors, and other associates. It states that internal PR aims to enhance communication and morale within the organization. External publics include consumers, the community, media, government, financial institutions, action groups, and the general public. External PR works to build relationships with these groups and determine their information needs. Maintaining good relationships with both internal and external publics through regular communication is important for an organization's success.
How stakeholders impact business activitySameerShaik43
Stakeholders are in groups or people affecting the operations of your company. Shareholders are the owners of a company. The influence of stakeholders confirms the success and viability of the long-term. There are the key stakeholder groups customers, communities, employees, and business partners, carrying weight in the activities of the company.
1. The document provides guidance on stakeholder engagement for businesses. It defines stakeholders as individuals or groups that can affect or be affected by a company's activities.
2. Stakeholder engagement involves exchanging information and building understanding between a company and stakeholders. It has evolved from a reactive approach to proactively understanding stakeholder perspectives to inform decision making.
3. Fifteen principles of effective stakeholder engagement are outlined, such as engaging on important issues, being willing to act on feedback, choosing the right engagement format, and following up on actions from the engagement.
The document provides an overview of a briefing on impact investment from Next Generation Consultants. Some key points:
1) The briefing discusses the need for an impact investment index for Africa that takes into account the complexities of development contexts on the continent. Existing global models of impact measurement are not always applicable.
2) The proposed Impact Investment Index aims to create a shared performance measurement system for social investment and community development organizations to improve coordination, reduce costs, and better assess collective impact.
3) Impact assessments should distinguish between measuring performance, outcomes, and long-term impacts. The ultimate goal is to understand the tangible and intangible effects of investments and determine what changes can be attributed to interventions.
The document discusses various topics related to business and society, including objectives of business, social responsibility of business, social audit, the role of government in business, and corporate governance. It provides details on the responsibilities of business to shareholders, employees, consumers, and community. It also examines factors influencing the social orientation of businesses and different views on the level of social involvement.
The document discusses corporate social responsibility (CSR) and related topics. It begins by outlining traditional government responsibilities and the growth of the private sector and foreign investment. It then poses questions about private sector obligations beyond profit/employment generation. It lists stakeholders and questions around their definition and role. The document explores how CSR involves dialogue between companies and stakeholders, respects social contracts, and goes beyond basic legal/philanthropic responsibilities. It also discusses perspectives on CSR as a requirement rather than luxury in today's transparent information age.
The document discusses the objectives and social responsibilities of business. It covers topics like the objectives of business being both profit and social welfare, the social responsibilities of business to shareholders, employees, consumers, and community, and the role of government in regulating and promoting business. It also discusses social audit as a tool to evaluate a company's social performance and discharge of responsibilities.
This document outlines the course syllabus for BA932 Strategic Management. It covers 5 units: 1) Strategy and Process, 2) Competitive Advantage, 3) Strategies, 4) Strategy Implementation & Evaluation, and 5) Other Strategic Issues. Unit 1 discusses strategic concepts like vision, mission, objectives, and the strategy formation process. Unit 2 covers external environment analysis using Porter's five forces model and competitive changes. It also discusses internal analysis of resources, capabilities, and competitive advantage. Unit 3 looks at generic strategies and various levels of strategy. Unit 4 examines strategy implementation and evaluation. Unit 5 covers topics like technology, innovation, and internet strategies.
The biggest corporation, like the humblest citizen, must be h.docxmehek4
“The biggest corporation, like the humblest citizen, must be held to strict compliance with the will of the people.”
--Theodore Roosevelt
“A business that makes nothing but money is a poor kind of business.”
Henry Ford, founder of Ford Motor Company
Managing and Prioritizing Stakeholders
Organizational Issues
All organizations are faced with challenges or issues.
An issue is any event, trend, controversy, or public policy development that might affect the corporation.
An issue can also be understood as a gap between stakeholder expectations and the actual performance of a business.
Some important contemporary issues: domestic partner benefits, environmental performance, genetically modified food, affirmative action….the list can go on and on.
Stakeholders
Stakeholder theory argues that organizations need to identify and resolve issues in light of all their various stakeholders.
Stakeholder: Any group that has a vested interest in the operations of the firm
Include: employees, suppliers, stockholders, customers, the government, local communities, and society as a whole
Why Partner with Stakeholders?
Instrumental Perspective (“Do it because it will pay off in the end")
Enhanced ability to predict/control the external environment .
Higher percentage of successful new product/service introductions Higher levels of operating efficiency .
Fewer incidents of damaging moves by stakeholders (i.e., boycotts, strikes, bad press).
Less conflict with stakeholders resulting in fewer legal suits.
More favorable legislation/regulation .
More reasonable contracts .
Higher entry barriers leading to more favorable competitive environment Higher levels of trust.
Higher levels of profitability?
Greater organizational flexibility.
Normative Perspective (“Do it because it is the right thing to do")
Moral and philosophical basis for recognition of stakeholder interests.
Moral Manager
Defines a managers response to stakeholders – three approaches.
Immoral
Not only does not care how his/her decisions impact the stakeholders, but the actions are actively counter to what is the right and ethical thing to do.
Focus only on the goals of the of the company.
Considers laws as constants or barriers that are ignored in the company.
Amoral
Manager who is considered ethically neutral.
Ethical considerations are not contemplated in the decision making process.
Moral
Those managers who understand the relevance of considering ethical issues when they are making decisions.
What moral responsibilities – economic, legal, ethical, and philanthropic – does our firm have to its stakeholders?
Philanthropic Responsibilities
Be a good corporate citizen.
Ethical Responsibilities
Be ethical.
Legal Responsibilities
Obey the law.
Economic Responsibilities
Be profitable.
Copyright 2001 Harcourt, Inc.
Performing a Stakeholder Analysis:
1. Map your stakeholder relationships.
2. Assess ...
This document discusses the internal and external factors that affect a business environment. The internal factors are under a company's control and include human resources, company image, management structure, physical assets, R&D capabilities, marketing resources, and financial factors. The external factors are outside a company's control and include the micro environment of suppliers, customers, competitors, marketing intermediaries, and publics, as well as the macro environment of demographic, economic, technological, political/legal, and social/cultural forces. Understanding both the internal and external factors is important for business success and strategic planning.
This document discusses corporate social responsibility and governance. It defines stakeholders as any group that can affect or be affected by a company's actions, including customers, employees, investors, communities, and governments. Primary stakeholders are essential to a company's survival while secondary stakeholders do not directly engage in transactions. The document outlines steps companies can take to implement social responsibility, including understanding stakeholder needs, distributing information internally, and being responsive. It also discusses the role of boards of directors in ensuring accountability, transparency and independence in decision making. Finally, the document contrasts shareholder and stakeholder models of corporate governance.
Corporate social responsibility (CSR) refers to business practices that benefit society. CSR is becoming more mainstream as companies embed sustainability into their core operations to create shared value for business and society. There are four types of CSR responsibilities - economic, legal, ethical, and discretionary. Implementing CSR best practices such as stakeholder engagement, sustainability reporting, and branding can help companies increase profits, reputation, and appeal to investors while also benefiting the environment and society. The latest CSR trends include greater transparency, investing in green technologies and employees, and acting locally. An effective CSR strategy focuses efforts in key interaction areas and finds partners that mutually benefit business and social goals.
The Stakeholder approach to Business , society, and EthicsIsmail Hossain
The document discusses the origins and evolution of the stakeholder concept in business. It describes how stakeholders have traditionally been viewed and categorized. Stakeholders are defined as individuals or groups with a stake or interest in a company. The document outlines approaches to stakeholder management, including strategic, multi-fiduciary, and synthesis views. It also discusses the descriptive, instrumental, and normative values of the stakeholder model and provides key questions for effective stakeholder identification, analysis, and strategy.
Stakeholders are individuals or groups that have an interest or share in a business. The key stakeholders in a business include employees, customers, investors, and the community. It is important for businesses to identify, prioritize, understand, and engage their stakeholders. Stakeholders can influence businesses through voting, management roles, investing, ensuring social and environmental responsibility, providing expertise and feedback, and building long-term relationships. Managing stakeholders well is important for businesses to run efficiently and produce profits over the long term.
The document discusses stakeholder relationships, social responsibility, and corporate governance. It defines stakeholders as those who have a claim in some aspect of a company, such as customers, investors, employees, suppliers, and communities. It also discusses primary and secondary stakeholders, the stakeholder interaction model, social responsibility, corporate citizenship, reputation, corporate governance, boards of directors, and executive compensation.
The Administrative Assistant’s Role in Promoting the Organization’s Goodwill....janetblanca229
The document provides an overview of strategies for promoting goodwill between an organization and its stakeholders. It defines stakeholders and publics, and describes four types of stakeholder linkages - enabling, functional, diffused, and normative. The benefits of engaging stakeholders include competitive advantage, better decision making, cost savings, and risk management. Building goodwill with customers involves six levels - service satisfaction, utility satisfaction, brand commitment, and relationship commitment.
Social entrepreneurship and traditional business entrepreneurship are two different approaches to starting and running a business. While both types of entrepreneurship aim to be successful and make a positive impact, they differ in their objectives, strategies, and focus.
This article will explore the differences between social entrepreneurship and traditional business entrepreneurship to provide a better understanding of each concept.
BUSINESS FORMATION & FUNDING OPTIONS BUSINESS & ENTREPRTawnaDelatorrejs
BUSINESS FORMATION & FUNDING OPTIONS
BUSINESS & ENTREPRENEURSHIP PROGRAM OXFORD SUMMER COURSES
1
STAKEHOLDER ANALYSIS
In this excerpt we are going to reflect on and dive deeper into the stakeholder
analysis. You will need this document for the completion of this work activity as well
as for your final project work to complete Topic 2.
What Is a Stakeholder? 1
A stakeholder is a party that has an interest in a company and can either affect or be
affected by the business. The primary stakeholders in a typical corporation are
its investors, employees, customers and suppliers. However, the modern theory of
the idea goes beyond this original notion to include additional stakeholders such as
a community, government or trade association.
Understanding Stakeholder
Stakeholders can be internal or external. Internal stakeholders are people whose
interest in a company comes through a direct relationship, such as employment,
ownership or investment. External stakeholders are those people who do not directly
work with a company but are affected in some way by the actions and outcomes of
said business. Suppliers, creditors and public groups are all considered external
stakeholders.
Example of an Internal Stakeholder
Investors are a common type of internal stakeholder and are greatly impacted by the
outcome of a business. If, for example, a venture capital firm decides to invest $5
million into a technology startup in return for 10% equity and significant influence, the
firm becomes an internal stakeholder of the startup. The return of the company's
investment hinges on the success, or failure, of the startup, meaning it has a vested
interest.
An Example of an External Stakeholder
External stakeholders are a little harder to identify, seeing as they do not have a direct
relationship with the company. Instead, an external stakeholder is normally a person
or organization affected by the operations of the business. When a company goes
over the allowable limit of carbon emissions, for example, the town in which the
company is located is considered an external stakeholder because it is affected by
the increased pollution.
Conversely, external stakeholders may also sometimes have a direct effect on a
company but are not directly tied to it. The government, for example, is an external
stakeholder. When it makes policy changes on carbon emissions, continuing from
above, the decision affects the operations of any business with increased levels of
carbon.
Problems With Stakeholders
1 https://www.investopedia.com/terms/s/stakeholder.asp
BUSINESS FORMATION & FUNDING OPTIONS
BUSINESS & ENTREPRENEURSHIP PROGRAM OXFORD SUMMER COURSES
2
A common problem that arises with having numerous stakeholders in an enterprise
is their various self interests may not all be aligned. In fact, they may be in direct
conflict. The primary goal of a corporation, for example, from the viewpoint of its
sha ...
This document discusses best practices for managing stakeholder expectations on projects. It defines stakeholders as any person, group, or organization that can be affected by or affect an organization's actions and policies. Common stakeholder types include customers, board members, creditors, employees, government agencies, owners, suppliers, unions, and the surrounding community. The document notes that stakeholders each have their own agendas and want to see the project succeed according to their interests. It recommends identifying stakeholder issues early, communicating regularly according to a documented plan, gathering information about stakeholders, understanding their motivations, and engaging them throughout the project to manage expectations.
Storytelling is an incredibly valuable tool to share data and information. To get the most impact from stories there are a number of key ingredients. These are based on science and human nature. Using these elements in a story you can deliver information impactfully, ensure action and drive change.
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Internal and External publics of Public Relations by Shaining Star LyngdohStar Lyngdoh
The document discusses the internal and external publics of public relations. It defines internal publics as people employed by or members of an organization, including shareholders, employees, suppliers, distributors, and other associates. It states that internal PR aims to enhance communication and morale within the organization. External publics include consumers, the community, media, government, financial institutions, action groups, and the general public. External PR works to build relationships with these groups and determine their information needs. Maintaining good relationships with both internal and external publics through regular communication is important for an organization's success.
How stakeholders impact business activitySameerShaik43
Stakeholders are in groups or people affecting the operations of your company. Shareholders are the owners of a company. The influence of stakeholders confirms the success and viability of the long-term. There are the key stakeholder groups customers, communities, employees, and business partners, carrying weight in the activities of the company.
1. The document provides guidance on stakeholder engagement for businesses. It defines stakeholders as individuals or groups that can affect or be affected by a company's activities.
2. Stakeholder engagement involves exchanging information and building understanding between a company and stakeholders. It has evolved from a reactive approach to proactively understanding stakeholder perspectives to inform decision making.
3. Fifteen principles of effective stakeholder engagement are outlined, such as engaging on important issues, being willing to act on feedback, choosing the right engagement format, and following up on actions from the engagement.
The document provides an overview of a briefing on impact investment from Next Generation Consultants. Some key points:
1) The briefing discusses the need for an impact investment index for Africa that takes into account the complexities of development contexts on the continent. Existing global models of impact measurement are not always applicable.
2) The proposed Impact Investment Index aims to create a shared performance measurement system for social investment and community development organizations to improve coordination, reduce costs, and better assess collective impact.
3) Impact assessments should distinguish between measuring performance, outcomes, and long-term impacts. The ultimate goal is to understand the tangible and intangible effects of investments and determine what changes can be attributed to interventions.
The document discusses various topics related to business and society, including objectives of business, social responsibility of business, social audit, the role of government in business, and corporate governance. It provides details on the responsibilities of business to shareholders, employees, consumers, and community. It also examines factors influencing the social orientation of businesses and different views on the level of social involvement.
The document discusses corporate social responsibility (CSR) and related topics. It begins by outlining traditional government responsibilities and the growth of the private sector and foreign investment. It then poses questions about private sector obligations beyond profit/employment generation. It lists stakeholders and questions around their definition and role. The document explores how CSR involves dialogue between companies and stakeholders, respects social contracts, and goes beyond basic legal/philanthropic responsibilities. It also discusses perspectives on CSR as a requirement rather than luxury in today's transparent information age.
The document discusses the objectives and social responsibilities of business. It covers topics like the objectives of business being both profit and social welfare, the social responsibilities of business to shareholders, employees, consumers, and community, and the role of government in regulating and promoting business. It also discusses social audit as a tool to evaluate a company's social performance and discharge of responsibilities.
This document outlines the course syllabus for BA932 Strategic Management. It covers 5 units: 1) Strategy and Process, 2) Competitive Advantage, 3) Strategies, 4) Strategy Implementation & Evaluation, and 5) Other Strategic Issues. Unit 1 discusses strategic concepts like vision, mission, objectives, and the strategy formation process. Unit 2 covers external environment analysis using Porter's five forces model and competitive changes. It also discusses internal analysis of resources, capabilities, and competitive advantage. Unit 3 looks at generic strategies and various levels of strategy. Unit 4 examines strategy implementation and evaluation. Unit 5 covers topics like technology, innovation, and internet strategies.
The biggest corporation, like the humblest citizen, must be h.docxmehek4
“The biggest corporation, like the humblest citizen, must be held to strict compliance with the will of the people.”
--Theodore Roosevelt
“A business that makes nothing but money is a poor kind of business.”
Henry Ford, founder of Ford Motor Company
Managing and Prioritizing Stakeholders
Organizational Issues
All organizations are faced with challenges or issues.
An issue is any event, trend, controversy, or public policy development that might affect the corporation.
An issue can also be understood as a gap between stakeholder expectations and the actual performance of a business.
Some important contemporary issues: domestic partner benefits, environmental performance, genetically modified food, affirmative action….the list can go on and on.
Stakeholders
Stakeholder theory argues that organizations need to identify and resolve issues in light of all their various stakeholders.
Stakeholder: Any group that has a vested interest in the operations of the firm
Include: employees, suppliers, stockholders, customers, the government, local communities, and society as a whole
Why Partner with Stakeholders?
Instrumental Perspective (“Do it because it will pay off in the end")
Enhanced ability to predict/control the external environment .
Higher percentage of successful new product/service introductions Higher levels of operating efficiency .
Fewer incidents of damaging moves by stakeholders (i.e., boycotts, strikes, bad press).
Less conflict with stakeholders resulting in fewer legal suits.
More favorable legislation/regulation .
More reasonable contracts .
Higher entry barriers leading to more favorable competitive environment Higher levels of trust.
Higher levels of profitability?
Greater organizational flexibility.
Normative Perspective (“Do it because it is the right thing to do")
Moral and philosophical basis for recognition of stakeholder interests.
Moral Manager
Defines a managers response to stakeholders – three approaches.
Immoral
Not only does not care how his/her decisions impact the stakeholders, but the actions are actively counter to what is the right and ethical thing to do.
Focus only on the goals of the of the company.
Considers laws as constants or barriers that are ignored in the company.
Amoral
Manager who is considered ethically neutral.
Ethical considerations are not contemplated in the decision making process.
Moral
Those managers who understand the relevance of considering ethical issues when they are making decisions.
What moral responsibilities – economic, legal, ethical, and philanthropic – does our firm have to its stakeholders?
Philanthropic Responsibilities
Be a good corporate citizen.
Ethical Responsibilities
Be ethical.
Legal Responsibilities
Obey the law.
Economic Responsibilities
Be profitable.
Copyright 2001 Harcourt, Inc.
Performing a Stakeholder Analysis:
1. Map your stakeholder relationships.
2. Assess ...
This document discusses the internal and external factors that affect a business environment. The internal factors are under a company's control and include human resources, company image, management structure, physical assets, R&D capabilities, marketing resources, and financial factors. The external factors are outside a company's control and include the micro environment of suppliers, customers, competitors, marketing intermediaries, and publics, as well as the macro environment of demographic, economic, technological, political/legal, and social/cultural forces. Understanding both the internal and external factors is important for business success and strategic planning.
This document discusses corporate social responsibility and governance. It defines stakeholders as any group that can affect or be affected by a company's actions, including customers, employees, investors, communities, and governments. Primary stakeholders are essential to a company's survival while secondary stakeholders do not directly engage in transactions. The document outlines steps companies can take to implement social responsibility, including understanding stakeholder needs, distributing information internally, and being responsive. It also discusses the role of boards of directors in ensuring accountability, transparency and independence in decision making. Finally, the document contrasts shareholder and stakeholder models of corporate governance.
Corporate social responsibility (CSR) refers to business practices that benefit society. CSR is becoming more mainstream as companies embed sustainability into their core operations to create shared value for business and society. There are four types of CSR responsibilities - economic, legal, ethical, and discretionary. Implementing CSR best practices such as stakeholder engagement, sustainability reporting, and branding can help companies increase profits, reputation, and appeal to investors while also benefiting the environment and society. The latest CSR trends include greater transparency, investing in green technologies and employees, and acting locally. An effective CSR strategy focuses efforts in key interaction areas and finds partners that mutually benefit business and social goals.
The Stakeholder approach to Business , society, and EthicsIsmail Hossain
The document discusses the origins and evolution of the stakeholder concept in business. It describes how stakeholders have traditionally been viewed and categorized. Stakeholders are defined as individuals or groups with a stake or interest in a company. The document outlines approaches to stakeholder management, including strategic, multi-fiduciary, and synthesis views. It also discusses the descriptive, instrumental, and normative values of the stakeholder model and provides key questions for effective stakeholder identification, analysis, and strategy.
Stakeholders are individuals or groups that have an interest or share in a business. The key stakeholders in a business include employees, customers, investors, and the community. It is important for businesses to identify, prioritize, understand, and engage their stakeholders. Stakeholders can influence businesses through voting, management roles, investing, ensuring social and environmental responsibility, providing expertise and feedback, and building long-term relationships. Managing stakeholders well is important for businesses to run efficiently and produce profits over the long term.
The document discusses stakeholder relationships, social responsibility, and corporate governance. It defines stakeholders as those who have a claim in some aspect of a company, such as customers, investors, employees, suppliers, and communities. It also discusses primary and secondary stakeholders, the stakeholder interaction model, social responsibility, corporate citizenship, reputation, corporate governance, boards of directors, and executive compensation.
The Administrative Assistant’s Role in Promoting the Organization’s Goodwill....janetblanca229
The document provides an overview of strategies for promoting goodwill between an organization and its stakeholders. It defines stakeholders and publics, and describes four types of stakeholder linkages - enabling, functional, diffused, and normative. The benefits of engaging stakeholders include competitive advantage, better decision making, cost savings, and risk management. Building goodwill with customers involves six levels - service satisfaction, utility satisfaction, brand commitment, and relationship commitment.
Social entrepreneurship and traditional business entrepreneurship are two different approaches to starting and running a business. While both types of entrepreneurship aim to be successful and make a positive impact, they differ in their objectives, strategies, and focus.
This article will explore the differences between social entrepreneurship and traditional business entrepreneurship to provide a better understanding of each concept.
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BUSINESS FORMATION & FUNDING OPTIONS
BUSINESS & ENTREPRENEURSHIP PROGRAM OXFORD SUMMER COURSES
1
STAKEHOLDER ANALYSIS
In this excerpt we are going to reflect on and dive deeper into the stakeholder
analysis. You will need this document for the completion of this work activity as well
as for your final project work to complete Topic 2.
What Is a Stakeholder? 1
A stakeholder is a party that has an interest in a company and can either affect or be
affected by the business. The primary stakeholders in a typical corporation are
its investors, employees, customers and suppliers. However, the modern theory of
the idea goes beyond this original notion to include additional stakeholders such as
a community, government or trade association.
Understanding Stakeholder
Stakeholders can be internal or external. Internal stakeholders are people whose
interest in a company comes through a direct relationship, such as employment,
ownership or investment. External stakeholders are those people who do not directly
work with a company but are affected in some way by the actions and outcomes of
said business. Suppliers, creditors and public groups are all considered external
stakeholders.
Example of an Internal Stakeholder
Investors are a common type of internal stakeholder and are greatly impacted by the
outcome of a business. If, for example, a venture capital firm decides to invest $5
million into a technology startup in return for 10% equity and significant influence, the
firm becomes an internal stakeholder of the startup. The return of the company's
investment hinges on the success, or failure, of the startup, meaning it has a vested
interest.
An Example of an External Stakeholder
External stakeholders are a little harder to identify, seeing as they do not have a direct
relationship with the company. Instead, an external stakeholder is normally a person
or organization affected by the operations of the business. When a company goes
over the allowable limit of carbon emissions, for example, the town in which the
company is located is considered an external stakeholder because it is affected by
the increased pollution.
Conversely, external stakeholders may also sometimes have a direct effect on a
company but are not directly tied to it. The government, for example, is an external
stakeholder. When it makes policy changes on carbon emissions, continuing from
above, the decision affects the operations of any business with increased levels of
carbon.
Problems With Stakeholders
1 https://www.investopedia.com/terms/s/stakeholder.asp
BUSINESS FORMATION & FUNDING OPTIONS
BUSINESS & ENTREPRENEURSHIP PROGRAM OXFORD SUMMER COURSES
2
A common problem that arises with having numerous stakeholders in an enterprise
is their various self interests may not all be aligned. In fact, they may be in direct
conflict. The primary goal of a corporation, for example, from the viewpoint of its
sha ...
This document discusses best practices for managing stakeholder expectations on projects. It defines stakeholders as any person, group, or organization that can be affected by or affect an organization's actions and policies. Common stakeholder types include customers, board members, creditors, employees, government agencies, owners, suppliers, unions, and the surrounding community. The document notes that stakeholders each have their own agendas and want to see the project succeed according to their interests. It recommends identifying stakeholder issues early, communicating regularly according to a documented plan, gathering information about stakeholders, understanding their motivations, and engaging them throughout the project to manage expectations.
Similar to stakeholders.power.point.text,business.internal (20)
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3. Internal
stakeholders:
•Employees: They contribute
their skills and labor, impacting
productivity and reputation.
•Owners/Shareholders: They
invest capital and expect
financial returns and value
growth.
•Management: They lead and
make decisions affecting all
4. External stakeholders:
• Customers: They purchase products or
services, driving revenue and shaping
company direction.
• Suppliers: They provide resources
necessary for operations, affecting cost and
quality.
• Creditors: They lend money and need
assurance of repayment.
• Communities: They are impacted by the
business's environmental and social
activities.
• Government: They regulate and tax
businesses, affecting compliance and
operations.
• Media: They can influence public
5. What are their
interests, expectations,
and concerns?
Stakeholders have diverse
interests. Common themes
include:
• Financial: Profitability, returns
on investment, and job security.
• Operational: Efficiency, quality,
and product safety.
• Ethical: Sustainability, environm
ental impact, and fair labor
practices.
• Reputational: Public
image, brand recognition, and
customer trust.
• Personal: Growth, development,
6. What are their
interests, expectations,
and concerns?
Expectations vary based on the
stakeholder group. For example,
customers expect quality products and
service, while employees expect fair
compensation and opportunities for
advancement.
Concerns arise when stakeholder
interests are not
met. Employees might worry about
layoffs, customers might complain
about poor quality, and communities
might protest environmental pollution.
7. Stakeholders can influence the project or
organization in various ways:
• Customers: By choosing to buy or not buy
products, affecting revenue and product
strategy.
• Employees: By contributing ideas, working
efficiently, and maintaining good customer
relations.
• Investors: By providing or withdrawing
funding, influencing financial decisions.
• Government: By setting regulations and
policies, affecting operations and compliance
How do they influence or
are influenced by the project or
organization?
8. The project or organization also influences
stakeholders:
• Employees: By providing
salaries, benefits, and work
environment, impacting job satisfaction
and retention.
• Communities: By creating
jobs, supporting local businesses, and
minimizing environmental impact.
• Government: By generating tax revenue
and contributing to the overall economy.
How do they influence or
are influenced by the
project or organization?
9. Categorizing stakeholders based on
power, interest, and involvement:
1
2
3 Involvement
Their level of
engagement with the
project or
organization.
Interest:
Their level of
concern about the
project or
organization.
Power
Their ability to
influence the project or
organization.
10. Categorizing stakeholders
based on power, interest, and
involvement :
This helps prioritize stakeholder engagement and
communication strategies. For example, high-
power, high-interest stakeholders need close
involvement and regular communication, while
low-power, low-interest stakeholders might require
minimal outreach.
11. Balancing Stakeholder
Interests: A Delicate
Symphony
You can enter a subtitle
here if you need it
Imagine juggling various balls in the air,
each representing the interests of a
different stakeholder in your business.
Balancing these competing priorities is a
constant challenge, but crucial for long-
term success. Let's explore the
importance of stakeholder aims and the
key concept of shareholders in this
intricate dance.
12. Balancing Stakeholder Interests: A
Delicate Symphony
01
Employees:
They seek job
security, fair
compensation, and a
positive work
environment.
03
Investors:
They want financial
returns on their
investments and
sustainable growth.
04
Communities
They desire
environmental
responsibility, economic
prosperity, and social
well-being.
02
Customers
They expect quality
products, excellent
service, and value for
their money.
Each stakeholder has their own unique set of
aims, and it's the organization's responsibility
to balance these sometimes conflicting
demands. This can be a complex task,
requiring careful consideration of each
stakeholder group's priorities and finding
solutions that benefit everyone in the long run.
13. Why Stakeholder Aims
Matter: The Importance
of Shared Success
Focusing solely on shareholder profits, for
example, might neglect employee well-being
and lead to high turnover, ultimately
impacting productivity and customer
satisfaction. Similarly, ignoring
environmental concerns can damage a
company's reputation and alienate socially
conscious consumers.
By prioritizing stakeholder engagement and
addressing their diverse aims, businesses
can unlock several benefits:
14. Why Stakeholder Aims Matter: The
Importance of Shared Success
01 Enhanced decision-
making
Understanding stakeholder
perspectives leads to more
informed and inclusive
choices.
02 Stronger
relationships
Open communication and trust
build rapport with key
stakeholders, boosting loyalty
and support.
03 improved
innovation
Diverse viewpoints
foster creativity and
generate new ideas for
products and services.
04 Sustainable
growth
Addressing social and
environmental concerns
alongside financial goals ensures
long-term success and resilience.
15. The Shareholder
Concept: Balancing
Individual and
Collective Gains
Shareholders are individuals or entities
who own shares in a company, giving
them partial ownership and a claim on
its profits. They generally prioritize
financial returns on their investment,
such as dividends or capital
appreciation.
Balancing shareholder interests with
those of other stakeholders is a central
aspect of corporate governance.
16. CREDITS: This presentation template
was created by Slidesgo, including
icons by Flaticon, and infographics &
images by Freepik
The Shareholder
Concept: Balancing
Individual and
Collective Gains
This often involves:
• Transparency and disclosure: Sharing
financial information and business
strategies with shareholders builds trust
and accountability.
• Effective shareholder
engagement: Listening to shareholder
concerns and incorporating their
feedback into decision-making
processes fosters a sense of ownership
17. The Shareholder Concept: Balancing
Individual and Collective Gains
Finding the right balance between
shareholder interests and the needs of
other stakeholders is an ongoing
challenge, but achieving this equilibrium
is crucial for building a successful and
sustainable business that thrives in the
long run.
18. The Shareholder Concept: Balancing
Individual and Collective Gains
striking the right chord in the
stakeholder symphony requires
constant attention, open
communication, and a commitment to
shared success. By prioritizing the
diverse aims of all stakeholders,
businesses can create a harmonious
environment where everyone benefits
from the collective melody of progress.
