It is important to identify parties or interest groups that have “skin” in the game. In other words, who are the stakeholders? As defined in project management doc.com, a stakeholder is a person or group of people who can affect or who can be affected by a given project or implementation of policy (Project Management, n.d.). The stakeholders in this case study include those in political positions, big business, concerned citizens, elite groups and those from the lower economic class. In the essay “The Masses against the Classes”, written by Ed Miliband (2012) contends that in order for a sound society to exist, the affluent and powerful must attend to the struggles of those outside of the elite class in order to maintain and survive (Miliband, 2012). Is it then, the position of Big-Mart as depicted in this case study to appear in an effort to save the struggling (classes) from the powerful elite masses? Is this
A stakeholder analysis is a process for providing insights into, and understanding of, the interactions between a project and its stakeholders. It is a powerful tool to help project members identify and prioritise stakeholders who can have an impact on project success. It can prompt thinking about the type of influence individuals have and in what way they might be an asset (or hindrance) to achieving successful outcomes. It is an essential starting place for understanding critical stakeholders and is the first step for developing engagement strategies for building and maintaining the networks that are necessary for the delivery of successful project outcomes.
Stakeholders are the people who matter to a system. Stakeholder power analysis is a tool which helps understanding of how people affect policies and institutions, and how policies and institutions affect people. It is particularly useful in identifying the winners and losers and in highlighting the challenges that need to be faced to change behaviour, develop capabilities and tackle inequalities.
The first stakeholder that I’m going to talk about is the employees. Employees are internal stakeholders. Employees are one of the most important stakeholders because they are the first ones to interact with the customers. The employees are the ones that will be answering any questions that a customer may have, they are able to give the customer reliable information. Also the employee is able to recommend more products that the customer may be interested in; this would increase the sales of the shop which would result in more profit for the company. If the employees at Tesco are disrespectful and they are not being helpful to the customers then that customer might not shop at Tesco any more. They may also tell their friends and family about their experience. This would result in them shopping at other stores which would decrease the sales of the store. So it is important that employees do their job or else they would influence the customers into not shopping with Tesco anymore.
It is extremely important for any organization to manage their stakeholders satisfactorily as they have a significant impact on the organization’s progress, (Madura, 2012, p.25). In this report, the author will look at Aldi Limited and their stakeholder relationship. Aldi Limited started their initial operations in 1946 in Germany as the biggest retailers of groceries, (Telegraph, 2013). Aldi Limited became very familiar among the people because of their low prices and the self service arrangement, (Aldi, no date).
In this assignment I will be evaluating the influence different stakeholders have in one organisation. A stakeholder is someone who takes an interest in a business whether it being small or big. For example, in Nike, a stakeholder could be an employee or a customer as they would have to take massive interest in the business.
After bashing the old idea of managerial capitalism, Freeman starts explaining why his reconceptualized stakeholder concept is much more logical. Freeman modestly articulates a stakeholder theory using the “narrow definition” of a stakeholder, which includes those who are vital to the success and survival of a corporation. Specifically, these stakeholders include owners, management, suppliers, employees, customers, and the local community. As well as being directly connected with the corporation, Freeman argues that the stakeholders are also interconnected with each other as well, and that each stakeholder is vital to the survival of the corporation, and vice versa. Employees rely on the business to give them a paycheck; the business provides their livelihood. Employees return the favor because they run the business on a day to day basis. Suppliers are vital to the firm’s success because the quality of the raw materials purchased will determine the quality and price of the final good produced by the firm. As a result, the firm is a customer of their supplier, and is therefore vital to their supplier’s success. The next stakeholder, customers,
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).
In this paper, a stakeholder is the key to the program, where their decision is affected by the actions and decisions that are made by the organization. Stakeholders take interests in various areas of the operations of any business, but having a well put together program plan will help make
The first stakeholder I am going to evaluate is customers which are external stakeholders. Customers contribute to profit levels and turnover through buying products and services. People are stakeholders in a company for financial reasons, customers do not want to have to spend an excessive amount of money to purchase a product, so if the product is cheaper in one store, such as Tesco, than in another store then customers will buy the cheaper one which then attracts more customers.
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 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
Anglo American hired Cynthia Carroll as chief executive officer in hopes that she would improve the overall performance of the company. Failing to meet their expectations would almost guarantee her time at the company would be short lived. As CEO she must juggle the interests of her stakeholders and make decisions that benefit the company. It can prove to be a difficult task as certain stakeholders hold more power and have more influence when it comes to making these decisions. In this paper I will be using stakeholder theory to discuss how Anglo American’s stakeholders influence Carroll’s decision. Carroll is well aware of the dangers her employees face, however she must decide whether it is in her best interest to increase safety or not. While increasing safety measures may make the company look better, it will come at great costs. Although Cynthia Carroll is facing some opposition from it’s the South African government and its employees, when taking in the interests of all the company’s stakeholders it is clear that she must keep the mines up and running without taking more safety precautions.
The stakeholder theory made popular by Ed Freeman (1984) does seem to represent a major advance over the classical view (Freeman, 1984). It might seem inappropriate to refer to the stakeholder position as neoclassical. Bowie (1991: 56-66) has defined stakeholders as a group whose existence was necessary for the survival of the firm--stockholders, employees, customers, suppliers, the local community, and managers themselves.