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In this assignment we will look for the stakeholder of the chemical plants, we will identify the part they play in making any company a success, we will also look at how a company can function such that it meets the needs of its stakeholder and at the same time maintain a quality standard. We will also look at the factors that affect the quality of the product that the company produces and how it can be further improved upon. Since, the only thing that is constant is change, therefore how to bring about a constant change that will keep the stakeholder happy and will also benefit the accounts of the company (Chanlett, 1973).
Stakeholders of any organization are those who, will basically benefit or will be harmed by the activities that are carried out by the firm. For any organization there are broadly two types of stakeholder, internal stakeholder and external stakeholder. . They care about the profits but they are far more concerned about the success of any project they have initiated. Even those who approve the launch of the new product are all stakeholder of a project. The best possible way to meet the requirements and expectations of stakeholder is to produce results.
The only things that the stakeholder wants are the results, the end product. The best way to produce the results is to have a business strategy designed in such a way that the end results are met, and the most appropriate way is to design the strategy in such a way that the goals are realistic, measurable and achievable, this will make it easy for the company to make the stakeholder happy. It is not necessary for the strategy to be a huge one but it should be an effective one.
It is important that the roles and responsibilities are pre assigned and the relationship of the people involved is clearly mentioned and defined so that the work flow can progress effectively and smoothly. Clear job descriptions should also be provided so that each and every person is aware of actually what they are supposed to do and what extent their contribution is required. There should also be an established performance evaluation system for the people involved in the implementation of the policy to make sure of its effectiveness.
Also, there should be a proper mechanism which will work to make sure that the policy is being implemented properly and as per the laid down rules (Chanlett, 1973). There should be constant checks on the policy that has been implemented. The environmental policy should be such that the objectives and the targets that have been laid down
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