Student to be able to define and discuss the role and importance of stakeholders in an organization and their ability to influence the performance of the organization.
Answer In general, a stakeholder can be one of two types: internal (within an organization) or external (outside of an organization). They can affect the firm’s vision and mission, are affected by the strategic outcomes achieved, and have enforceable claims on the firm’s performance.A stakeholder is typically concerned on the organisation’s results to meet its financial objectives The 3 stakeholders are : •Capital Market Stakeholder is shareholders and lenders that expect the firm to preserve and enhance the wealth they have entrusted to it and the returns are commensurate with the degree of risk accepted to hence their wealth to be maximized. Dissatisfied lenders may impose stricter in borrowing of capital and dissatisfied shareholders may reflect their concerns by selling off their stocks.By keeping its interest of both stakeholders, the firm must know how to balance with its concerns for the firm’s future competitive ability. •Product Market Stakeholder is customers, suppliers, host communities and union officials that can share few commons interests and benefits as firm engage in competitive battles. ?Customers – demand reliable products at low prices.
?Suppliers – seek loyal customers willing to pay highest and sustainable prices for goods and services. Host communities – firm willing to be long-term employers and providers of tax revenues while minimizing demands on public support services. ?Union officials – secure jobs and desirable working conditions.Product market stakeholders are generally satisfied when a firm reaches the balance of profit margin between the returns to capital market stakeholders and the returns in which they share. Organizational stakeholder is employees that expect the firm to provide a comfortable with rewarding work environment and with the opportunities training to those who willing to learn more to achieving their objectives where they are satisfied in their growing and actively developing their skills. Knowledgeable workers are critical to the firm’s success as they are the competitive weapons that affecting the strategic implementation and the firm’s performance.
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.Read more
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.Read more
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.Read more