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Stakeholders Focus
Yeganeh Majidi
NOV. 2015
Who are involved in business activity?
Various groups of people have an interest in business. Such groups are
referred to ...
Business Owners
Business Owners
Entrepreneur
Shareholders
Directors
Managers
Employees
Individuals
Institutional
Investors...
What are stakeholders?
 People or organisations with a special interest in a business.
 This is normally because they ar...
Relationships and Business
Building relationships is one of most
important areas in business today
 Can be associated wit...
•Internal Stakeholders
•External Stakeholders
• Stakeholders are individuals or organizations that are affected by the
consequences and outcomes of decisions.
• Interna...
• External stakeholders are individuals, groups, and
entities from outside that are affected by the
consequences and outco...
The Stakeholder Interaction Model
Stakeholder Orientation
 The degree to which a firm understands and
addresses stakeholder demands
 Three activities:
 G...
Social Responsibility
 Is an organization’s obligation to maximize its positive
impact on stakeholders and minimize its n...
Social Responsibility and the Importance of
Stakeholder Orientation
 From a social responsibility perspective, business
e...
Best and Worst Companies for Social
Responsibility
Implementing a Stakeholder Perspective
1. Assessing the corporate culture
2. Identifying stakeholder groups
3. Identifying...
Power and influence
Some stakeholders are powerful.
They can influence how the
business operates.
Some stakeholders have...
Stakeholder interests 1
All stakeholders have different types of interests:
 Customers – price, quality, range of supplie...
Stakeholder interests 2
 Government – legal issues, environmental issues,
competition
 Pressure groups – interests of me...
Conflict and stakeholders
 Local community against expansion of business,
employees want job security
 Shareholders want...
The role of the entrepreneur as a stakeholder
 Innovation
 Organization
 Risk taking
Types of stakeholders
The
government
The local
community
Owners
and
shareholders
Employees
and
managers
Customers
Financie...
Types of Shareholders
 Directors
 Managers
 Employees
 Individuals
 Institutional Investors
 Other Companies
Other Stakeholders
 Customers
 Suppliers
 Government
 Community
Stakeholders and their objectives
Stakeholder Main Objective
Directors To direct the strategies and major
decision making...
Stakeholders and their objectives
Stakeholder Main Objective
Customers  To obtain good value for money from the
goods and...
Stakeholders and their objectives
Stakeholder Main Objective
Community  To benefit from employment the business creates.
...
Stakeholder-communication matrix
 The stakeholder communication matrix is a tool that
displays the SR communication with ...
Examples of Stakeholders
Representatives from Organizations/Institutions
 Pain & cancer advocacy groups (i.e., ACS, POPAN...
Examples of Stakeholders
Representatives from State Government
 Boards of medicine, nursing, pharmacy, & dentistry
 Depa...
Examples of Stakeholders
Health care providers
 Physicians
 Nurses
 Pharmacists
 Social Workers
 Alternative Medicine...
Thank you!
Stakeholders
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Stakeholders

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Stakeholders Focus

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Stakeholders

  1. 1. Stakeholders Focus Yeganeh Majidi NOV. 2015
  2. 2. Who are involved in business activity? Various groups of people have an interest in business. Such groups are referred to as stakeholders. They include:  Owners or shareholders  Managers  Employees  Customers  Government  Suppliers  The community  Competitors
  3. 3. Business Owners Business Owners Entrepreneur Shareholders Directors Managers Employees Individuals Institutional Investors Other Companies A Summary of Business Owners
  4. 4. What are stakeholders?  People or organisations with a special interest in a business.  This is normally because they are directly affected by the business and how it operates – both now and in the future.
  5. 5. Relationships and Business Building relationships is one of most important areas in business today  Can be associated with organizational success and misconduct Stakeholder framework  Helps identify internal and external stakeholders  Helps monitor and respond to needs, values, and expectations of stakeholder groups
  6. 6. •Internal Stakeholders •External Stakeholders
  7. 7. • Stakeholders are individuals or organizations that are affected by the consequences and outcomes of decisions. • Internal stakeholders are those within an organization with an interest in its success and failure, since they may be rewarded or punished accordingly. • Internal stakeholders include employees, managers, executives, and stockholders and other owners. Internal Stakeholders
  8. 8. • External stakeholders are individuals, groups, and entities from outside that are affected by the consequences and outcomes of an organization's decisions. • External stakeholders include customers, suppliers, governments, and communities. • External stakeholders can exercise different types of power over an organization and try to influence its decisions through applying economic or political pressure. External Stakeholders
  9. 9. The Stakeholder Interaction Model
  10. 10. Stakeholder Orientation  The degree to which a firm understands and addresses stakeholder demands  Three activities:  Generation of data about stakeholder groups  Distribution of the information throughout the firm  Organization’s responsiveness to this intelligence
  11. 11. Social Responsibility  Is an organization’s obligation to maximize its positive impact on stakeholders and minimize its negative impact Four levels of social responsibility: Economic Legal Ethical Philanthropic
  12. 12. Social Responsibility and the Importance of Stakeholder Orientation  From a social responsibility perspective, business ethics embodies standards, norms, and expectations that reflect concerns of major stakeholders  Social responsibility is associated with: Increased profits Increased employee commitment Greater customer loyalty
  13. 13. Best and Worst Companies for Social Responsibility
  14. 14. Implementing a Stakeholder Perspective 1. Assessing the corporate culture 2. Identifying stakeholder groups 3. Identifying stakeholder issues 4. Assessing organizational commitment to social responsibility 5. Identifying resources and determining urgency 6. Gaining stakeholder feedback
  15. 15. Power and influence Some stakeholders are powerful. They can influence how the business operates. Some stakeholders have little power. The business can virtually ignore their views.
  16. 16. Stakeholder interests 1 All stakeholders have different types of interests:  Customers – price, quality, range of supplies, opening hours, facilities, etc  Employees – pay, working conditions, job security  Owners/shareholders – profit, share price, dividends  The local community – road building, pollution, safety, house values, jobs
  17. 17. Stakeholder interests 2  Government – legal issues, environmental issues, competition  Pressure groups – interests of members and those they represent  Suppliers – price paid for their supplies, further orders  Financiers – profits, return on money invested, repayments of loans
  18. 18. Conflict and stakeholders  Local community against expansion of business, employees want job security  Shareholders want high dividends, managers want to use profits for investment  Suppliers want high prices for goods they supply, customers want low selling prices Stakeholders with different interests may be in conflict, eg
  19. 19. The role of the entrepreneur as a stakeholder  Innovation  Organization  Risk taking
  20. 20. Types of stakeholders The government The local community Owners and shareholders Employees and managers Customers Financiers Pressure groups Suppliers Stakeholders
  21. 21. Types of Shareholders  Directors  Managers  Employees  Individuals  Institutional Investors  Other Companies
  22. 22. Other Stakeholders  Customers  Suppliers  Government  Community
  23. 23. Stakeholders and their objectives Stakeholder Main Objective Directors To direct the strategies and major decision making of the business. To retain control. To increase their own power and status from business growth. Shareholders To receive dividends from after- tax profits. To share in the success/profitability of the business through an appreciating share price. Workforce  To receive a fair wage. To ensure good working conditions. To secure their jobs through the survival and expansion of the business.
  24. 24. Stakeholders and their objectives Stakeholder Main Objective Customers  To obtain good value for money from the goods and services purchased. To receive high levels of customer service. To receive after sale service and supply of spares from businesses which survives into the future. Suppliers To continue to sell profitably to the business. To be paid promptly and fully for the goods supplied. Bank Lenders • To be paid back in full when repayments are due. •To receive interest on loans when due.
  25. 25. Stakeholders and their objectives Stakeholder Main Objective Community  To benefit from employment the business creates. To be free from environmental disadvantages the firm might create. Government • To receive tax revenues from profitable firms. •To direct the operations of the business for the benefit of the community/nation. •To control business operations and performance to ensure it remains within national laws. •To assist businesses in accordance with national and local policies. Competitors • To compete by all lawful means. •To differentiate its products from those of other businesses. •To compare and contrast performances with other businesses.
  26. 26. Stakeholder-communication matrix  The stakeholder communication matrix is a tool that displays the SR communication with stakeholders. It enables the organization to obtain an overview of the SR issues and the required communication about those issues with stakeholders. The matrix uses important input from the issue matrix. The matrix has a twofold objective: Providing an overview of the SR communication with stakeholders;  Involving the organization and assigning those responsible.
  27. 27. Examples of Stakeholders Representatives from Organizations/Institutions  Pain & cancer advocacy groups (i.e., ACS, POPAN, Livestrong Army)  National professional associations (i.e., AMA, APS, AAPM, FSMB)  State professional organizations/chapters (i.e., State Pain Society, State Medical Society, ASPMN chapter, ONS chapter, State Hospice and Palliative Care group)  Cancer Centers  Hospitals  Long Term Care facilities  Hospices  Granting agencies (i.e., RWJ, community foundations)
  28. 28. Examples of Stakeholders Representatives from State Government  Boards of medicine, nursing, pharmacy, & dentistry  Department of Justice  Public health departments  Controlled Substances Board  Attorney General’s office  Governor’s office  Departments of Regulation and Licensing  Representatives from Industry  Insurance companies  Pharmaceutical companies  Medical device and equipment companies
  29. 29. Examples of Stakeholders Health care providers  Physicians  Nurses  Pharmacists  Social Workers  Alternative Medicine Providers  Physical Therapists  Nursing Assistants Other Individuals  Health care administrators  Academics  Health Educators  Policy makers  Media professionals  Persons with pain  Caregivers & family members  Law enforcement  Business/finance professionals
  30. 30. Thank you!

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