The Role Of Stakeholders Of Real Property Valuation

As seen in Chapter 15 of Real Estate Principles by Charles J. Jacobus, property tax is a large source of income for local governments. When property taxes are not paid, a lien is placed on the property. If property taxes are not paid, this gives the government the right to seize the property. This is currently happening to Bill Davies, a developer from Chicago, Illinois.

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.

In this assignment, I will be talking about what stakeholders mean and the different components of the key stakeholders based on two organisations: Debenhams and Water Aid. A stakeholder is when a person shows a keen interest in the activities of a business, directly or indirectly.

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).

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

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

Community engagement is an important way in which open areas can be used. The process can be used to collaborate with individuals and groups to improve their local environment. Public participation would allow the population to involve their local areas in the ongoing projects for planning and design of open areas and green spaces. This process would increase the sense of belonging in the residents and more importantly would also incorporate the solutions to the problems specific in the area.

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).

The real estate appraisal process is a process that affects nearly everyone who lives in a home. Most people do not have the funding to purchase a home outright and must rely on financing to purchase their homes. Banks require that a real estate appraisal be conducted to determine what the market value of a property is so they know how much the property is worth as collateral for the loan. Therefore the appraisal serves as the basis for factors such as determining a fair market price, how much collateral a property can offer a lender, or in some cases even how much a property should be able to earn in income in a "best use" scenario. This report will outline the basic steps of evaluating the value of property as well as discuss some of the considerations surrounding the appraisal process in general.

Stakeholder mapping identifies stakeholder expectations and power and helps in understanding political priorities and underlines two issues:

If stakeholders are correctly evaluated then this evaluation will determine the authority levels, responsibilities, their weaknesses and strength, risk tolerance and stakeholder’s strategy. After doing this evaluation, an important information will be attained which helps in prioritizing the needs of the stakeholders and fulfilling their expectations which is the critical part of BUPA vision.

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

Community development around the world is being practised by various entities, addressing various socio-economic issues that are unique to different communities worldwide. According to Bhattacharyya (2004), community development initiatives are dominant in democratic countries. There are various initiatives that have led to significant shifts in the wellbeing of communities using different development tools to develop communities around the world. South African, which is a democratic country has one of the highest income gabs in the world. The country’s income difference is evident in many townships/rural areas around the country’s underdeveloped communities. The positive impact of community development may be seen in the fields of public health, micro-macro development, food and violence (Bhattacharyya, 2004).

Community is established locally but community development is a process that includes actors from inside and outside of the community to achieve sustainability. My previous essays have addressed the progression of community development from place-based attachment, organizing and advocacy to addressing the need and effect of government involvement. The final stop on the continuum of the community development is to analyze market-based approaches to community development. This paper will look at how a market based approach to community development is an important component of community development because it is the appropriate response to the current socio-economic, and political context that our country is in. A market-based approach provides a mechanism to define relationships and allocate economic resources to create systemic change within communities. increasing opportunities for social inclusion and economic sustainability

A definition of participation: for the purposes of this note a useful definition of public or community participation is that adopted by Stoker (1997) for ‘political participation’ (following Parry et al, 1992): members of the public ‘taking part in any of the processes of formulation, passage and implementation of public policies’. This is a wide-ranging definition, which extends the emphasis of public participation beyond the development of policy, to decision-making and implementation.