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Stakeholders Stakeholders hold an important role in public policy. They hold an interest in how the program is preforming (266). They are important and have a stake in how things go. They do not just apply to corporate America but many places that people think of. They exist almost everywhere and everyone is stakeholder whether it is a job, a school or in the government. A school could be a considered a program. A teacher could be a stakeholder as teachers have an incentive to perform very well in their classrooms because they could be denied tenure and the same principle applies from the principals to the superattiendents of school systems. Their jobs depend on their particular workstations to function well. A student could be another stakeholder as how the school performs could determine what skills they learn in the real world. Without good schools students lose out on skills that are needed for survive in the real world. Stakeholders can oftentimes good as they hold companies and institutions accountable but can be bad as many times they may encourage behaviors that are not enti...
Key Stakeholders and Their Stakes A stakeholder is defined as an individual or group who has an influence or is influenced by any achievements made by an organization (Sexty, 2017). It is imperative for any business, especially in the banking industry, to be able to identify and respond to these various participants in order to remain successful. TD Bank has a myriad of stakeholders and has only recently looked to further its relationship with each of them in order to sustain a competitive advantage over other financial institutions (TD and Importance of Stakeholders, n.d.). One of the many groups that TD interacts with is the customer (Corporate Responsibility, n.d.).
Stakeholder is anyone with an interest in a business; stakeholders are individual, groups or businesses. They are affected by the activity of the business. There are two types on stakeholders who are internal and external. Internal stakeholder involves employees, managers/directors and shareholders/owners. External stakeholder involves suppliers, customers, government, trade unions, pressure groups and local and national communities.
Dr. Mork shared the impact of stakeholder loyalty on the Crescent School District’s performance results in enrollment of students, positive relations, and a desire to help the students. When stakeholders have a feeling of loyalty, they will tend to speak highly of the district. The loyalty creates a sense of family on the small K-12 Crescent Campus. Teachers and students are very familiar with one another. This family atmosphere has developed into a Crescent brand.
In this essay I will be writing about the stakeholders of both The IPO and Waitrose. I will also be evaluating the impact of different types of stakeholders in one of these companies. Stakeholders can be any person or organisation that has an interest in the activities, goods and services of a business.
Stakeholder loyalty is a key element to a school organization. Having strong partnerships with stakeholders is a valuable resource. According to Pam Robbins and Harvey B. Alvy, “Studies confirm that when families are involved, more students earn higher grades in English and Math, improve their reading and writing skills, complete more course credit, set higher aspirations, have better attendance, come to class more prepared to learn, and have fewer behavior problems” (2009, p.178). If EMES or WCSD 6 loses stakeholder loyalty, it will have a big impact on student achievement. Another area that would be affected is legislation. WCSD 6 is in need of community support if they want bond issues to pass. According to John Smith, Florida public school districts started to reach out to stakeholders that do not have children in the school district. They were having difficulty passing important school legislation (1998). He goes on to state, “…responsibility that all stakeholders share for the quality of their local schools” (1998, p. 52). With more funding WCSD 6 could buy better programs that could have an impact on student performance. Mr. Ungeheuer (U), EMES principal stated, “I...
Perspective Stakeholders in health and social care can be referred to a person, group or organization 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 in health and social care are inspecting bodies, managers, employers, government and its agencies, owners of care services, owners of local businesses, suppliers, trade unions, service users, and the community which the organization serves. For example, a local health and well-being strategy may be developed by;
Barnardos, is an organised pressure group which aims at influencing the policies or actions of the government for the benefits of achieving their vision in representing children’s welfare.
Stakeholder analysis is important for successful implementation of projects and/or strategic activities within any organisation. It is used to analyse the stakeholders in order to understand them and classify them according to their power, influence and interest. Stakeholders are people who have an interest in a commercial entity including those within the organisation and outside. These include the boss, senior executives, customers, suppliers, government, your co-workers, the team and others. All these people are important in the implementation and success of strategy.
Hence, the stakeholders which are described as those who are affected by the organisation performance ,actions and duties and those actions includes employees, clients, local community and investors as well. The theory of stakeholders also suggests that it is the responsibility of firm to make sure no rights of stakeholders are dishonoured and make decisions in the interest of stakeholders which is also the purpose of stakeholder theory to make more profit and balancing it while considering its stakeholders (Freeman 2008 pp. 162-165). In the other words organisation must also operates in a more socially accountable approach by carrying out corporate social responsibility as (CSR) activities.
This engagement must be to involve the stakeholders in the school. The district and school leaders must encourage the community belief that if the school is successful the surrounding community will be successful. Through this partnership the time, talent and treasure of the stakeholders must be solicited to ensure the success of the school. Reciprocity of this investment should be given as well. Students could be required to participate in community service within the neighborhood or take responsibility for cleaning parcels of the area.
Stakeholders are those groups or individual in society that have a direct interest in the performance and activities of business. The main stakeholders are employees, shareholders, customers, suppliers, financiers and the local community. Stakeholders may not hold any formal authority over the organization, but theorists such as Professor Charles Handy believe that a firm’s best long-term interests are served by paying close attention to the needs of each of these stakeholders. The modern view is that a firm has responsibilities to all its stakeholders i.e. everyone with a legitimate interest in the company. These include shareholders, competitors, government, employees, directors, distributors, customers, sub-contractors, pressure groups and local community. Although a company’s directors owes a legal duty to the shareholders, they also have moral responsibilities to other stakeholder group’s objectives in their entirely. As a firm can’t meet all stakeholders’ objectives in their entirety, they have to compromise. A company should try to serve the needs of these groups or individuals, but whilst some needs are common, other needs conflict. By the development of this second runway, the public and stakeholders are affected in one or other way and it can be positive and negative.
Regarding to organizational stakeholders, there are three main groups of stakeholders: customers, employees and investors. The company attempts to link stakeholders’ needs and expectations to the company’s goals. For customers, the company must treat them fairly and honestly. For employees, the company needs to treat them fairly, make them a part of the company and respect their needs. For investor, managers should comply with the accounting procedure, do not manip...
“Political context includes aspects such as the distribution of power, the range of organizations involved and their interests, and the formal and informal rules that govern the interactions among different players. Political context shapes the way in which policy processes work” (Nash, R., Hudson, A., and Luttrell, C., 2006). It is important to understand the political context in which a social policy issue is embedded. When I think of context, I think of action. An advocate that is trying to influence policy would be concerned about political contexts because it would determine the likelihood, suitability, and capabilities of his/her behavior (action) and conduct while seeking to institute change. By understanding the political context in which a social policy issue is embedded, one’s strategy and approach can be outlined to understand the manner in which changes can be made. Progress can be slow without understanding the political context. An advocate may understand what needs to be changed but may not understand why the change did not occur. The advocate may also be able to institute change in social policy issues if the advocate has a great understanding of the political context. The advocate must be able to align himself/herself with those that can be recruited to change the context of a policy. The advocate can also determine the severity of instituting the change and the probability of getting the change. “The appropriate level of action and type of advocacy strategy will depend on the political, social and economic situation prevailing at a given point in time” (Rietbergen,-McCracken, J., n.d.).
Stakeholders refer to individuals or groups of people that have an interest in a business. Management argues that as long as there is wealth for shareholders, then anything is done in a responsible manner and things should be done to promote the interest of other stakeholders.