Examples of stakeholder theory in the following topics:
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- Organizational management is largely influenced by the opinions and perspectives of internal and external stakeholders.
- Employees are primary internal stakeholders.
- Owners often make substantial decisions regarding both internal and external stakeholders.
- This graphic is a good illustration of the stakeholders involved in a search engine organization.
- Owners are directly involved in the process, and thus described as internal stakeholders.
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- Building in a strong sense of ethics, and an alignment with the well-being of all existing stakeholders (and society at large) is an integral aspect of the strategic planning process.
- The concept of aligning with the needs, ethics and well-being of all stakeholders is referred to as Stakeholder Theory.
- All organizations have a wide variety of stakeholders.
- Basically, any group, individual or organization impacted by operations is considered a stakeholder.
- This code of ethics should take stakeholders concerns into consideration, and evolve organically over time as the organization grows.
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- Decisions should be made in a way that ensures all stakeholders are considered.
- As a result, suppliers are closely related to organizations as key external stakeholders.
- Governments can in fact be considered primary stakeholders, considering the profit motive involved.
- While other stakeholder groups could be discussed at length, these are a few of the key pillars in stakeholder theory.
- Identify the various external stakeholders that may be impacted by business operations
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- Organizational theory studies organizations to identify the patterns and structures they use to solve problems, maximize efficiency and productivity, and meet the expectations of stakeholders.
- Organizational theory then uses these patterns to formulate normative theories of how organizations function best.
- Organizational theory examines patterns in meeting stakeholders' needs.
- This concept map illustrates common internal and external stakeholders: internal stakeholders include employees and managers, while external stakeholders include customers, suppliers, creditors, and society at large.
- A company must take all of these stakeholders' interests into account.
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- The mission statement is generated to retain consistency in overall strategy and to communicate core organizational goals to all stakeholders.
- The external assessment, which includes the business's stakeholders, is valuable since it offers a different perspective.
- How the organization provides value to these stakeholders, that is, by offering specific types of products or services
- To be truly effective, an organizational mission statement must be assimilated into the organization's culture (as the theory states).
- An example of a mission statement, which includes the organization's aims and stakeholders and how it provides value to these stakeholders.
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- Organizations that focus on encouraging and communicating ethical practices are commonly viewed with respect by their employees as well as by the broader community of stakeholders.
- In these tools, the use of corporate jargon should be limited; its content should be easily accessible for both internal and external stakeholders.
- Social responsibility is an ethical theory that an entity (an organization or individual) has the obligation to act to benefit society at large.
- Companies embracing corporate social responsibility, or CSR, recognize that their activities impact many stakeholders and so practice transparency with their internal stakeholders as well as with the general public.
- In order to reap the business benefits of socially responsible practices, companies must be sure that they are communicating those practices clearly, both to internal stakeholders (e.g., employees who may be more motivated to stay at the company) and external stakeholders (e.g., customers who may be convinced to purchase the company's products).
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- Each of these schools of thought are facets of what modern leadership theories try to take into account today, as varying perspectives on leadership are useful to take into consideration the complex, global world of organizations.
- Early methods of research theory centered around trait theories.
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- MNEs (multinational enterprises) may employ a more structured strategic management model due to its size, scope of operations, and need to encompass stakeholder views and requirements.
- MNEs are tasked with aligning complex and often dramatically different processes, demographic considerations, employees, legal systems, and stakeholders.
- This image is an example of a strategy map that organizes a firm's stakeholder interests.
- Apply the size of a firm to the basic strategic management theories
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- Although all stakeholders can affect or be affected by the organization's actions, objectives, and policies, not all stakeholders are equal.
- In contrast, secondary stakeholders are usually external stakeholders who may not necessarily engage in direct economic exchange with the organization.
- Customers represent another key stakeholder group.
- Some of the most powerful primary stakeholders are stockholders.
- Funders and donors are yet another powerful stakeholder.
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- It is an organizational process aimed at helping change stakeholders to accept and embrace changes in their business environment.
- Change management uses basic structure and tools to control an organizational change effort; these primarily revolve around ensuring that all stakeholders are aware of what's going on and involving them in the strategic process.
- Identify the role of change management with the larger context of organizational theory