stakeholder
(noun)
A person or organization with a legitimate interest in a given situation, action, or enterprise.
Examples of stakeholder in the following topics:
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Stakeholders: the connective rim on the wheel
- The people who come in contact with your business's brand are known as your startup's stakeholders.
- Who will be your startup's stakeholders?
- Consider establishing contacts with some of the following suggested stakeholder categories common to new venture enterprises mentioned in the "Startup Stakeholder Arrow".
- Exhibit 7: "Startup Stakeholder Arrow" created by Molly Lavik, founder, Mentorography, Inc., January 12, 2009.
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Stakeholders: Consumers, Employees, and Shareholders
- Stakeholders may have different interests related to the pursuit of profit and social impact.
- This normative model implies that the CSR collaborations are positively accepted when they are in the interests of stakeholders and may have no effect or be detrimental to the organization if they are not directly related to stakeholder interests.
- It is the stakeholder theory that implies that all stakeholders (or individuals) must be treated equally regardless of the fact that some people will obviously contribute more than others to an organization.
- Importantly, the leadership (or stakeholder management) has to have the desire, the will, and the skills to ensure that the other stakeholders' voices are respected within the organization, and leadership has to ensure that those other voices are not expressing views that are not shared by the larger majority of the members (or stakeholders).
- Identify the importance of an organization recognizing the needs of its stakeholders
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Profit and Stakeholders
- Other stakeholders would be funders and the design and construction teams.
- Sometimes even competitors are counted as stakeholders.
- Market stakeholders (sometimes called "primary stakeholders") are those that engage in economic transactions with the business.
- Examples of primary stakeholders could be customers, suppliers, creditors or employees.
- Non-market stakeholders (sometimes called "secondary stakeholders") are those who generally do not engage in direct economic exchange with the business, but are affected by or can affect its actions.
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The Purpose of Public Relations
- The aim of public relations by a company is to persuade the public, investors, partners, employees, and other stakeholders to maintain a certain point of view about it, its leadership, products, or of political decisions.
- In other words, public relations is a management activity that attempts to shape the attitudes and opinions held by an organisation's stakeholders.
- The aim of public relations by a company is to persuade the public, investors, partners, employees, and other stakeholders to maintain a certain point of view about it, its leadership, products, or of political decisions.
- In other words, public relations is a management activity that attempts to shape the attitudes and opinions held by an organisation's stakeholders.
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Complaint Procedures
- They are also the firm's stakeholders.
- The concept of employees as stakeholders refers to the interest employees have in the success of the company and the fact that actions taken by the organization directly affect the employees (Olson, 2003).
- Though employees are the stakeholders who are arguably most visible to management on a day-to-day basis, they do not often command the majority of attention in terms of decision-making influences.
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The Goals of a Business
- The primary purpose of a business is to maximize profits for its owners or stakeholders while maintaining corporate social responsibility.
- Stakeholder theorists believe that people who have legitimate interests in a business should influence its operation.
- Others contend that a business's principal purpose is to serve the interests of a larger group of stakeholders, including employees, customers, and even society as a whole.
- Successful firms like Google manage to align their activities towards the purpose of creative expansion from the perspective of all stakeholders, especially employees.
- Stakeholder theorists believe that people who have legitimate interests in a business also ought to have voice in how the business is run.
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The Purpose of Public Relations
- The aim of public relations by a company often is to persuade the public, investors, partners, employees, and other stakeholders to maintain a certain point of view about it, its leadership, products, or of political decisions.
- Stakeholder theory identifies people who have a stake in a given institution or issue.
- All audiences are stakeholders (or presumptive stakeholders), but not all stakeholders are audiences.
- Sometimes the interests of differing audiences and stakeholders common to a public relations effort necessitates the creation of several distinct but complementary messages.
- This is not always easy to do, and sometimes, especially in politics, a spokesperson or client says something to one audience that creates dissonance with another audience or group of stakeholders.
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Potential external relationship obstacles
- Problems within the networked organization usually arise due to the failure in identifying all stakeholders and network partners.
- All nodes and partners in the networked organization have to know and recognize all the stakeholders involved.
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The international marketing plan
- Business-level considerations begin with the assessment of the stakeholders involved in the business.
- It is important to clearly identify the different stakeholder groups, understand their expectations, and evaluate their power, because the stakeholders provide the broad guidelines within which the firm operates.
- In the case of international marketing, it is particularly important to address the concerns of the stakeholders in the host company.
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Financial Accounting
- Financial accounting is a core organizational function in which accountants prepare a variety of documents to inform stakeholders of the financial health of operations.
- Financial accounting focuses on the tracking and preparation of financial statements for internal management and external stakeholders, such as suppliers, investors, government agencies, owners, and other interest groups.
- A balance sheet demonstrates the overall value of organizational assets by listing current and long-term assets (fixed or otherwise) alongside short term and long term liabilities and stakeholder equity.
- Through balancing the assets against the combination of liabilities and stakeholder equity, the financial accounting should encounter a zero sum game.
- Combine these three documents, and stakeholders have a fairly clean view of what goes on in the organization.