Public And The Nonprofit Literatures

Stakeholder – person, group or organization that has interest or concern in an organization (businessdictionary)

Firstly Stakeholder is an individual or a group who has an interest in the success of a business I delivering high results and maintaining the viability of the business’s products and services.There are internal and external

John Kew and John Stredwick mention that Jonhson et all 2011 defines a stakeholder as “those individuals or groups who depend on the organisation to fulfil their own goals and on who in turn the organisation depends.”

In the world of business management, a stakeholder-based approach to management suggests that managers need to formulate and implement many processes to satisfy the numerous stakeholders groups who are invested in the firm. The main goals in the approach are to manage and to unify the relationships and concerns of the various shareholders, customers, suppliers, employees, employers, and the other groups in such a way to successfully ensure the existence of the business in the long-term.

Managers in today’s corporations have to deal with government regulations, corporate critics, media attacks & major competition from other firms (Freeman, 2010). According to Carroll (1991) Corporate Social Responsibility consists of four elements, which are in the form of a pyramid consisting of philanthropic at the top of the pyramid followed by legal, social & economic responsibility towards the bottom of the company. Furthermore stakeholder management is a very important contributing component of a successful business & the support of stakeholders can be gained through customer loyalty, cooperation with partners, investment

The chapter that decided to write about would be chapter three. This is because I enjoyed reading the various kinds of support programs that the government and non-profit organizations have to offer to society. In this chapter, it described the various kinds of problems that are seen in society such as disabilities, poverty, abuse, neglect, and crime. Even though society has these issues, the government, and nonprofit organizations have discovered programs that can help the people that are struggling to be healthy, stable, and out of trouble. I am interested in obtaining a job that helps children to build their leadership skills, become more educated, and be able to have a variety of opportunities. I do feel that it is something I do want to

Given their influential position and the enormous impact of business organizations in modern society, the purpose they should serve is discussed by theorists in various fields. The stakeholder theory of the firm is probably the most popular and influential theory to emerging the CSR area (Stark, 1994). The stakeholder perspective argues that the interests and values of all parties that hold a stake in the organization should be taken into consideration (De Wit &Meyer, 2002), Carroll (1989) the word `stake´ refers to having “an interest or a share in an undertaking”. While the term stakeholder was first recorded in the 1960s, the theoretical approach was in the main developed and presented by Freeman (1984) in the 1980s. Several authors (Carroll, 1989; Harrison & St John, 1994; Rhenman, 1967) define stakeholders as individuals or groups who in some way affect or are affected by the organization. Lee (2006) and Smith (2003) say that most firms understand the importance of managing relations with key stakeholders. Firms that have been successful in this area have done more than simply issuing press releases and responding to

Stakeholders are people or groups who are interest on the organization. Their interest is differing from one group to another depending on their various sources. The first section is going to discuss stakeholder’s definition, types of stakeholders and their influence in strategic decisions. The following section will highlight different source of stakeholder power that could affect the relation between organizations and their stakeholders. Also, discussion of the stakeholder analysis in managing stakeholder power which may support or hinder the organization's strategic decisions. Finally, the conclusion will sum up some of the recommendations that may followed when planning for new strategy for any organization.

Stakeholder can be defined as “any group or individual who can affect or is affected by the achievement of the organization’s objectives”. This theory focuses on wider aspect rather than only focusing on just the shareholder. Stakeholder theory is a fundamental theory about how business works at its best and how it could work. It is concerning on the value creation and trade on how to manage a business effectively.

In the last decades of the 20th century, the word "stakeholder" has become more commonly used to mean a person or organization that has a legitimate interest in a project or entity. In discussing the decision-making process for institutions—including large business corporations, government agencies, and non-profit organizations—the concept has been broadened to include everyone

1.2 Strategic management is a way of formulating, implementing and evaluating, cross – functional decisions that enable an organisation to achieve its objective. It ensures that employees and other stakeholders are working towards common goals, establishes agreement around intended outcomes/results, and assesses and adjusts the organization 's direction in response to a changing environment. The purpose of strategic management is to exploit and create new opportunities, to foresee business value in the future, to eliminate the possible risks in the environment, and to look for the changing market trends.

Stakeholder is defined as “any group or individual who can affect or is affected by the achievement of the organization’s objectives” (Freeman 1984). Stakeholder theory, when introduced in the 1980s, signify a major change in how relationships within a business might coexist and benefit one another. The concept of “Stakeholder theory” or “stakeholder thinking” is about identifying groups who are stakeholder in a corporation and manage them. It states that organizations are collections of several different parties, each with its own goals and objectives. Stakeholder concept has been used, either explicitly or implicitly, for descriptive purposes, and also as a framework from which different theories and ideas can be derived. It offers an proper lens for consideration of more composite perspective of the value that stakeholders seek as well as new ways to measure it. Stakeholder thinking has emerged to understand the three interrelated business problems indicating the problem of how value is created and traded, problem of connecting ethics and capitalism, and the problem of helping managers think about management. Stakeholder theory can be upstretched with a full different collection of ethical questions without any context to other theories.

Managers do not find it difficult to understand the concepts and models of stakeholder management. (Clarkson, Max B E, 1995) Stakeholder management is increasingly a key factor for improving business performance (Rienk Goodijk, 2003). Managers can no longer be held responsible for maximizing returns to shareholders at the expense of other primary stakeholder groups. (Clarkson, Max B E, 1995) Sillanpa (1998) found that companies which delegated more to their employees provided better service to customers, faster innovation and faster reactions to changes, increased productivity and competitiveness. Many companies have tried to apply the

A stakeholder is a person, group or organisation that has interest or concern in an organization. Stakeholders can affect or be affected by the organizations actions, objectives and policies. Some examples of key stakeholders are creditors, directors, employees, government (and its agencies) owners (shareholders), suppliers, unions, and the community from which the business draws its resources .Not all stakeholders are equal.

Stakeholders can be assessed systematically according to criteria such as influence, impact and alignment. For example, these questions can help assess their relevance: (Harrison, n.d)