Nonprofit And For Profit Organizational Management Techniques

In today’s world for any business to be successful it needs to be a sustainable enterprise. There are a number of ways to achieve sustainability using a number of different methods. A key aspect of sustainability for any business is Stakeholder Engagement. Only by reaching out to all of their stakeholders will a business be able to create a competitive advantage while still being sustainable.

For-profit businesses are attentive to the simple fact that their stakeholders desire maximum profit for their investment, but this simple fact may only be correct for a few stakeholders. Corporations are facing more and more pressure to consider the social impacts of the business decisions they make. For instance, stakeholders are beginning to ask corporations about their environmental ethics. Stakeholders want to know if the business is operating in a way that is environmentally sustainable and socially responsible (Marshall & Woodward, 2004). Your analysis and facts were well written, but you did not provide your thoughts about which managers need to pay more attention to stakeholders. Do non-profit managers or for-profit managers need to pay more attention to stakeholders? Adding your thoughts for this section would positively add to your

Each stakeholder has a different criterion of responsiveness, because they have a different interest in the organization. Most organizations are similarly influenced by a variety of stakeholder groups. Investors, shareholders, employees, customers and suppliers are considered primary stakeholders, without whom the organization cannot survive. Other important stakeholders are the community, which have become increasing important in recent year.

Stakeholders are individuals or groups that partake, or assert, possession, privileges, or benefits in a, organization and its accomplishments, previously currently, and in the upcoming (Barrett, 2001). These requested privileges or benefits are the result of communications with, or activities reserved by the organization, and they must be lawful or ethical, separate or combined Stakeholders with comparable benefits, entitlements, or privileges can be categorized as fitting into the similar collection: personnel, investors, and clients (Barrett, 2001). The better the impact these groups have on client’s lives and the extra community assets with which they are assigned, and it becomes vital that they are responsible (Barrett, 2001).

One may immediately assume when they hear the word "stakeholder" that it refers to the financial institution that has granted them the funding that made their program possible. This is certainly true, in fact, they are perhaps the most important and influential one. However, stakeholders are also staff members, program participants and their families, program administrators, the target population or

The purpose of this paper is to recognize the definition and what a stakeholder is and what it does. I will also explain the two groups of the stakeholders and put the stakeholders in the group where they belong. I will explain what the stakeholders responsibilities are, what their ethical responsibilities to the company. Will explain what would be the appropriate response to the situation in the company. And finally explain what Joe should propose to the management team and how Joe should support his proposal.

People often think of stakeholders as people with a monetary stake in an organization, but not necessarily true anymore. In the past, people considered stakeholders the people with a financial stake in the organization that would receive profits from the success of the business. Today stakeholders cover a much broader spectrum of people such as funders, administration, staff, volunteers, community, and the target population (Yuen/Terao, 2003). Each group of stakeholders has his or her influence on the program plan as well as the success of a human service organization and programs services (Yuen/Terao, 2003).

At the center of any successful nonprofit organization there is an effective chief executive and board of directors. These leaders must work as a team with a vision and specific skills, to effectively produce resources in order to accomplish the organization's goals. The majority of the decision making authority and leadership is shared amongst board members; however, critical management skills and day-to-day operational decisions rest within the authority of the chief executive. However, members of the board must also be sufficiently skilled in management in order to assess the work of its director to assist in the implementation and evaluation of strategic decision making.

It is vital that every organization is able to accurately identify their stakeholders, whether it is a for profit or a non-profit organization. One of the most important reasons for identifying and understanding stakeholders is that it allows the organization to recruit them as part of their efforts and learn firsthand on their needs and requirements (Rabinowitz, 2014). We live in an uncertain world where

Daft (2012) defines stakeholders as “any group within or outside the organization that has a stake in the organizations performance.” Stakeholders within the organization include the owners, managers and employees while external stakeholders includes the organizations customers, suppliers, community, workers unions, creditors as well as the government. Due the variety as well as different nature of the stakeholders, each stakeholder has a different expectation from the organization as concerns their stake. It is from this characteristic and expectation that each stakeholder will be affected differently by actions and decisions as well as policies and practices implemented by the business from those of another stakeholder (Carroll & Buchholtz, 2014). This also means that the different stakeholders will act or make decisions that affect the business in a way best situated for them. Carroll & Buchholtz (2014) discuss the relationship between the business and stakeholders as one that has a two-way interaction; businesses will affect stakeholders as well as stakeholders affect the business, that is an interchange of influence. The complexity of the stakeholder-business relationship calls for

Stakeholders play a critical role in the management and decision-making process of an organization. An example of a stakeholder includes employees, managers, patients, vendors, suppliers, the community, creditors, customers and the government (Daft, 2013). Also, Daft (2013) says, “Stakeholders are groups “within or outside of the organization that has a stake in the organization’s performance” (p. 23). There are a few differences surrounding stakeholder expectations between non-profit and for-profit organizations. The differences in nonprofit organizations and for-profit business organizations are the direction of activities for the end goal (Daft, 2013). Although it is very difficult to measure the impact that a nonprofit has on society, community, or a particular group as opposed to evaluating an income statement from a for-pro-profit organization. The same level of attention should be paid to stakeholder for nonprofit organizations as stakeholders of for-profit organizations.

Every stakeholder have their own process and roles, it can affects or can be affects by organization’s action. All stakeholders have own satisfied and unsatisfied (appendix 2).

“Stakeholders (or interest groups) are tangible, visible and approachable groups or institutions which have a direct influence on the functioning of an organisation.”

Stakeholders are people or groups with interest in an organization that can affect or be affected by the organization itself, its objectives, or its policies (BusinessDictionary, 2015). Each stakeholder brings their own perspective to the table based on their relationship with the organization (e.g. internal or external role), their level of experience, and their area of expertise about the subject matter they are involved with. At a high level, the list of stakeholders for any organization could include people or groups such as: customers, employees, government agencies, suppliers, unions, community resources, shareholders, and business owners. For the purpose of this assignment, I will discuss and review stakeholders relative to the

Stakeholders are the group or number of people who are directly or indirectly related to a particular business. Stakeholders can be directors, customers, employees, government, agencies, owners, suppliers, unions and the community from which the business draws its resources (Campbell, 2002). However, stakeholders are a crucial part for the success of business. If an organisation knows it’s stakeholder, then it can determine where, there is prospect for business and also by analysing stakeholders, business can set its operational activities (Graham, 2005).