The Importance Of A Stakeholder And Business Relationship In Business

A stakeholder are anyone with an interest in the actions of the business. Apple is a business that has both internal and external stakeholders. These stakeholders are really important within the business as they help to keep the business running and also help the Apple to be successful overall. The best way in which Apple can have really good relationships with their stakeholders is by communicating effectively. There are many ways in which Apple as a business can dothis. Onemethodis the way they approach their stakeholders. This is important because if they (the company) approach their stakeholders in a positive way then they will get a positive outcome.

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

Stakeholders have a significant influence on the aims of an organisation. They are the people who are affected by or interested in the business. In some organisations the shareholders are stakeholders, and at times have some of the decision power. In trade organisations, customers are also considered stakeholders; therefore their needs are part of the organisation’s overall objectives.

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).

The company also wants their stakeholders to be involved in the business, as well as be happy with the decision making process. Although a company may want their stakeholders to be included, they may have various levels of inclusion that may differ for every stakeholder. “Motivation” in stakeholder engagement means “keeping the stakeholders motivated potentially increases profitability and productivity for your company... Determine how you want them involved and the level of motivation or action needed from each group of stakeholders. Focus on the stakeholders with a great deal of power or interest in the company, but don't forget the less influential stakeholders.” Motivation is key for every stakeholder but can be crucial for those more invested

The development of a stakeholder engagement plan requires the business analysts to firstly identify the stakeholders, the extent to which they will affected by change (both directly or indirectly), and more importantly their influence over the process of change. Moreover, it permits the recognition of what will be required from stakeholders. Nevertheless, in order to obtain collaboration, BAs have to learn what stakeholders desire. As a result, this will help them determine the best ways for cooperation between both parties. Failing to indentify stakeholders wants in a timely manner could result in higher costs incurred at a later time. Business

Although the stakeholder interest is criticized for conflicting with other who are not stakeholders, it is still a valuable theory that should be valued by all businesses. Businesses would be able to establish a network with everyone that it communicates with. The people they build a relationship with could help the business in the long run when making difficult decisions that could put the business at risk of selling products that could harm

Major stakeholders, public opinion and their involvement are going to navigate the project and can make adjustments. This project has taught me so well about having an ongoing active engagement with stakeholders. Freeman first communicated stakeholder theory in 1984 describing stakeholders as any groups who are touched by or can affect the success of an organization’s goals. It’s important to consider that stakeholder engagement does not have a start and end point. The association needs to be maintained and nurtured. Growing the value of stakeholder relationships, cheering them to buy into an organization’s prophecy, along with getting stakeholder’s perceptions so that a business can continue to

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

Unlike shareholders who are solely interested in return dividends and share price growth, stakeholders have wide variety of interests in how companies operate. Freeman (1984) stated that stakeholders are, “any group or individual who can affect or is affected by the achievement of the organization’s objectives”. The main objective for firms is profit maximization and for this reason I agree to a

A company’s stakeholders are all those who are influenced by and can influence a company’s decisions and action, both locally and globally. Business stakeholders include(but are not limited to) employees, suppliers, customer, community organizations, subsidiaries and affiliates, joint venture partners, local neighborhoods, investors, shareholders(or a sole owner in case it is sole

Stakeholder management has been recognised as a central part of an organisation’s effectiveness. Stakeholders play important roles as advocates, sponsors, partners and agents of change. Much has been written about stakeholder relationships in the private sector and many companies now have dedicated relationship managers and strategies in place to improve and develop external relationships. However, stakeholder management in the brand management still lags some way behind (Ipsos 2009).

One firm which has made stakeholders a focus is Salesforce. The chief executive officer of Salesforce is Marc Benioff, who has been outspoken about how important managing with the best interest of stakeholders in mind. First, when he launched his firm, he also created the Salesforce Foundation,

A company’s stakeholders are individuals or groups with an interest, claim, or stake in the company, in what it does, and in how well it performs. They include stockholders, creditors, employee customers, the communities in which the company does business, and the general public.

Stakeholders are an integral part of a project. They are the end-users or clients, the people from whom requirements will be drawn, the people who will influence the design and, ultimately, the people who will reap the benefits of your completed project. Stakeholders are any individual, group or business with a vested interest (a stake) in the success of an organization is considered to be a stakeholder. A stakeholder is typically concerned with an organization delivering intended results and meeting its financial objectives. It is extremely important to involve stakeholders in all phases of your project for two reasons: Firstly, experience shows that their involvement in the project significantly increases your chances of success by building in a