Relationship between the Industrial Revolution and three of the ideologies - Essay Example

The technique is necessary for identification of both primary and secondary stakeholders with stakes in the running of the project. Stakeholder analysis aims at developing a strategic view of the human and institutional landscape. The process of managing stakeholders for any project involves aspects such as identification of all stakeholders, documentation of stakeholder needs, assessment and analysis of influence from stakeholders, managing various expectations from stakeholders, taking actions and review of the status of the project (Phillips, 2003).

Stakeholders are known to provide organizations with a range of resources, such as customers, employees and capital, amongst other benefits necessary for conducting businesses. These resources create a link between stakeholders and organizations, hence making organizations responsible for their social and legitimate actions towards consumers. The shift in thinking from financial perspective demands that business organizations consider the impact of their activities on a wide range of stakeholders.

Currently, there is a more pressing demand from consumers on the extent to which companies deal with environmental matters. This has made organizations play a vital role in shaping public opinion and environmental policies by complying with social and stakeholder demands, hence legitimizing themselves to acceptable organizational and societal practices (McDonnell and Bartlett, 2009, pp. 63–70; Baker, 1997). Consumers, governmental organizations, and other insurance companies will majorly influence this project.

All forms of governmental regulations are meant to grant consumers an opportunity to make better environmental decisions. However, difficulties arise especially at the point of establishing policies capable of addressing all areas of concern within the environment (De Bakker, Groenewegen, & Den Hond, 2005). A good example can be drawn from the