The concept of stakeholder management - Essay Example

Extract of sample
The concept of stakeholder management

To address the role of stakeholders in governance analysis, the concept of stakeholder management was created. The challenge of stakeholder management, then, is to see to it that the organization's primary stakeholders achieve their objectives and that other stakeholders are dealt with ethically and are also satisfied. This is the classic "win-win" situation. It does not always occur, but it is a legitimate goal for management to pursue to protect its long-term self-interests. Management's second-best alternative is to meet the goals of its primary stakeholders, keeping in mind the important role of its owner investors. Without economic viability, all other stakeholders' interests are lost. Thus, the important functions of stakeholder management are to describe, to understand, to analyze, and, finally, to manage. ...Show more

Summary

Determines the stakes of the various groups of stakeholders. Note: Even groups in the same generic category frequently have different specific interests, concerns, perceptions of rights, and expectations.
Organizations must address the legitimate needs and expectations of stakeholders if they want to be successful in the long run; thus is the purpose of this analysis…
Author : yziemann
The concept of stakeholder management essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"The concept of stakeholder management"
with a personal 20% discount.
Grab the best paper

Related Essays

Building Stakeholder Management and Culture
It is evident from the study that aside from the ethical duty of organisations to deal with their social and corporate obligations there are many advantages of a stable and sustainable stakeholder culture to a company, that correspond to the advantages of a strong and spotless reputation.
11 pages (2750 words) Essay
Comparing and contrasting agency theory and stakeholder theory
The theory identifies the main criteria to be taken into consideration in designing incentive contracts or incentive compensation arrangements. An agency relationship is established when one party: the principal hires another party: the agent to carry out a particular service, thereby delegating decision-making authority to the agent.
16 pages (4000 words) Essay
Stakeholder management
Stakeholders interests differ from those of the shareholders thus organisations should balance the two conflicting interests in order to ensure long term growth and survival of the business. This paper will discuss stakeholder management at Unilever and how the stakeholders have responded to the approach.
4 pages (1000 words) Essay
Stakeholder theory and Strategy
The paper is structured as follows - first, stakeholder theory is introduced along with the presentation of the stakeholder model of the firm, followed by a brief explanation regarding the use of the three interrelated stakeholder theory approaches. Subsequently, the study elucidates how significant stakeholder relationships are in a firm's enduring existence and survival.
24 pages (6000 words) Essay
Stockholder management versus stakeholder management
Is it the stockholder management, advocated by the former or the stakeholder management of the latter? In The Social Responsibility of Business is to Increase its Profits, Friedman argued that the mission and purpose of a corporate
6 pages (1500 words) Essay
Sustainable Stakeholder Capitalism
Majorly, the crisis adversely affected the housing sector as many Americans had taken up long-term mortgages. Many lost their homes
2 pages (500 words) Essay
Cal week 6
The module covered the concept of stakeholder management and how managers can ensure that there is fair and equity in managing the interests of all the stakeholders. The literature synthesis of week six’s module involved an examination of the different
2 pages (500 words) Essay
New Public Management, Stakeholder Theory 1, Stakeholder Theory 2
A term that came into vogue in the later part of twentieth century is aimed at bringing about further improvement in the manner in which the public administrations are being carried out. The desire and demand has been driven by improving the overall
4 pages (1000 words) Essay
Stakeholder Management
e orientation of the stakeholders as an approach to operation, which addresses the concerns and issues of participants and other interested parties in the business operation. He defends the concept of distributive justice as a normative ideology to offer values and principles
6 pages (1500 words) Essay
Stakeholder Management
As the report stresses the two approaches mainly provide for objectives to be considered with stakeholder partnership and collaboration. The approach mainly aims at increasing the positivity in the relationship with stakeholders by understanding their needs and expectations, and how they can be provided under existing and agreed objectives.
2 pages (500 words) Essay
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT