Business Stakeholders And Their Interests Pdf

business stakeholders and their interests pdf

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Stakeholder Analysis

Stakeholder engagement is essential to grow our business and to reach the ambitious targets set out in the Unilever Sustainable Living Plan. To succeed in our purpose of making sustainable living commonplace, we need to engage and work in partnership with a wide range of stakeholders. These include NGOs, investors, customers, consumers, suppliers, governments and regulators, and other businesses through trade associations. Our biennial materiality assessment helps us to understand which issues are important to the business and our stakeholders, and therefore where and how to focus our engagement. By defining the needs and interests of our stakeholders, we can also evolve our strategy to better meet their expectations and focus our reporting on the issues that they care about. We seek to understand the issues of concern and to respond openly and transparently to any questions raised about our products and the way we run our business.

Who are Project Stakeholders and Why are they Important for a Project?

Every organization works in a social framework with a definite purpose, and thus, it has to relate to a number of stakeholders. These stakeholders have various interests in the organization, and similarly the organization also has varying degree of interest in the different stakeholders. Ordinarily, the purpose of the organization defines its relationship with a stakeholder and such relationships are the reflections of its interests. Most organizations attach importance to its stakeholders based on the amount of gain the organization derives from the respective stakeholder or the liability the organization has to a particular stakeholder. Thus, business organizations attach utmost importance to stockholders, or the owners since these people are the investors in the firm and the company bears a liability of returning the profits to these people. On the other hand, customers also form an important stakeholder for business firms since they bring in revenue for the firm that helps it in fulfilling its liabilities and objectives. In reality, non-profit organizations have a different type of objective.

Stakeholders can affect or be affected by the actions or inactions of a business, and they can exist both within and outside of a business. Internal stakeholders are groups or people who work directly within the business, such as managers, employees, and owners. Managers and employees want to earn high wages and keep their jobs, so they have a vested interest in the financial health and success of the business. Figure 1. The picture shows the typical stakeholders of a company. The stakeholders are divided into internal and external stakeholders. Customers want the business to produce quality products at reasonable prices.

Stakeholder (corporate)

Stakeholder is a person who has something to gain or lose through the outcomes of a planning process, programme or project Dialogue by Design, S takeholder Analysis is a technique used to identify and assess the influence and importance of key people, groups of people, or organisations that may significantly impact the success of your activity or project Friedman and Miles Stakeholder Management is essentially stakeholder relationship management as it is the relationship and not the actual stakeholder groups that are managed Friedman and Miles, As public participation becomes increasingly embedded in national and international public health policy, it becomes ever more crucial for decision-makers to understand who is affected by the decisions and actions they take, and who has the power to influence their outcome: the stakeholders.

In a corporation , a stakeholder is a member of "groups without whose support the organization would cease to exist", [1] as defined in the first usage of the word in a internal memorandum at the Stanford Research Institute. The theory was later developed and championed by R. Edward Freeman in the s. Since then it has gained wide acceptance in business practice and in theorizing relating to strategic management , corporate governance , business purpose and corporate social responsibility CSR. The definition of corporate responsibilities through a classification of stakeholders to consider has been criticized as creating a false dichotomy between the "shareholder model" and the "stakeholders model" [2] or a false analogy of the obligations towards shareholders and other interested parties.

A stakeholder is an individual, group, or organization who may affect, be affected by, or perceive itself to be affected by a decision, activity, or outcome of a project. It includes normally the members of a project team: project managers, project sponsors, executives, customers, or users. If a project is small in size, the number of stakeholders can be small. However, if it is large and expanded to a large area, one may have a huge number of stakeholders, including communities or the general public. Also, all stakeholders are not alike.

The Value of Stakeholders in Organizations: Some Stakeholders Are More Important Than Others

Internal stakeholders, primarily employees, owners and managers, are directly involved in the operations and strategy of the organization.

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Company stakeholders and their interests must be considered when identifying the organizational structure and procedures of a business.

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