Explain how stakeholders can be defined in the context of strategic management? Skip to main content

Explain how stakeholders can be defined in the context of strategic management?

Image
By

Question: Explain how stakeholders can be defined in the context of strategic management?
In strategic management, stakeholders are individuals or groups that have an interest in the actions and outcomes of an organization and upon whom the organization relies to achieve its objectives². This includes both internal and external parties.

Types of Stakeholders:
1. Internal Stakeholders: These are individuals or groups within the organization, such as employees, managers, and shareholders. They are directly involved in the company's operations and have a vested interest in its success.
2. External Stakeholders: These are individuals or groups outside the organization that are affected by its actions. This includes customers, suppliers, creditors, communities, governments, and trade associations.

Importance in Strategic Management:
- Influence on Strategy: Stakeholders can significantly influence the strategic direction of an organization. For example, investors may push for higher returns, while customers may demand better products or services.
- Resource Provision: Stakeholders provide essential resources, such as capital, labor, and materials, which are crucial for the organization's operations.
- Risk Management: Engaging with stakeholders helps in identifying potential risks and developing strategies to mitigate them.
- Reputation and Trust: Building strong relationships with stakeholders enhances the organization's reputation and fosters trust, which can lead to long-term success.

Stakeholder Management:
Effective stakeholder management involves identifying, analyzing, and engaging with stakeholders to understand their interests and expectations. This process helps in creating strategies that align with stakeholder needs and organizational goals.


Labels

Labels:

Comments

Post a Comment

let's start discussion

Popular posts from this blog

अज्ञेय का वैवाहिक जीवन उतार-चढ़ाव भरा था, वर्णन कीजिए? Aage ka vaivahik jivan utar chadhav bhara tha varnan kijiye

By
सवाल: अज्ञेय का वैवाहिक जीवन उतार-चढ़ाव भरा था, वर्णन कीजिए? अज्ञेय का वैवाहिक जीवन उतार-चढ़ाव भरा था। उन्होंने दो विवाह किए, लेकिन दोनों विवाह सफल नहीं हो पाए। उनका पहला विवाह 1937 में राजकुमारी रत्नलता से हुआ था। यह विवाह अज्ञेय के परिवार की इच्छा के विरुद्ध था। अज्ञेय के पिता हीरानंद वात्स्यायन संस्कृत के विद्वान थे और वे चाहते थे कि अज्ञेय एक योग्य विदुषी से विवाह करें। रत्नलता एक साधारण परिवार से थीं और वे संस्कृत नहीं जानती थीं। इस कारण से, अज्ञेय के परिवार वालों ने इस विवाह का विरोध किया। अज्ञेय और रत्नलता का विवाह कुछ वर्षों तक चलता रहा, लेकिन अंततः उनका तलाक हो गया। इस तलाक के कई कारण थे, जिनमें अज्ञेय की व्यस्त जीवनशैली, रत्नलता की शिक्षा और सामाजिक पृष्ठभूमि में अंतर, और अज्ञेय के परिवार का विरोध शामिल था। अज्ञेय का दूसरा विवाह 1956 में कपिला मलिक से हुआ था। कपिला एक मशहूर संगीतकार थीं और वे अज्ञेय की साहित्यिक प्रतिभा की प्रशंसक थीं। यह विवाह कुछ वर्षों तक चलता रहा, लेकिन अंततः यह भी विफल हो गया। इस विफलता के कारणों में अज्ञेय के व्यस्त जीवनशैली, कपिला की स्वतंत्रताप्रियता,...
Post a Comment
Read more

Explain voter apathy indifference among the youth considered a challenge for south africa democracy?

By
Question: Explain voter apathy indifference among the youth considered a challenge for south africa democracy?  Voter apathy and indifference among the youth pose significant challenges to South Africa's democracy. When young people disengage from the electoral process, it undermines the representativeness and legitimacy of the government. Low youth voter turnout means that the voices and concerns of young South Africans are underrepresented in policymaking, leading to policies that may not adequately address issues crucial to them, such as unemployment, education, and access to healthcare. This lack of participation can also empower special interests and entrenched elites, further marginalizing young people's voices in the political process. Additionally, voter apathy among the youth can contribute to political instability, as a significant portion of the population feels unheard and unrepresented, 
1 comment
Read more

List four social beliefs in south africa that contribute to the high frequency of sexual assault?

By
Question: List four social beliefs in south africa that contribute to the high frequency of sexual assault? Four societal beliefs in South Africa that contribute to the high frequency of sexual assault include: Gender Inequality and Patriarchy – Deep-rooted patriarchal structures place men in positions of power, leading to the normalization of violence against women and reinforcing male dominance. Victim-Blaming Attitudes – Many believe that victims are responsible for the assault due to their behavior, clothing, or choices, discouraging them from reporting incidents and allowing perpetrators to act without accountability. Cultural Norms Surrounding Masculinity – Traditional views of masculinity emphasize aggression and dominance, leading some men to feel entitled to assert power over women through sexual violence. Silence and Stigma Around Sexual Violence – Many victims fear speaking out due to societal stigma, allowing abuse to go unreported and perpetrators to continue their actions...
Post a Comment
Read more