We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Building Stakeholder Management and Culture - Essay Example

Comments (1) Cite this document
Summary
This following essay aims to discuss the challenge of building a stable and sustainable stakeholder culture and management practice. The discussion also includes an analysis of the development of stakeholder culture in the energy industry. …
Download full paperFile format: .doc, available for editing
Polish This Essay95.5% of users find it useful
Building Stakeholder Management and Culture
Read TextPreview

Extract of sample
"Building Stakeholder Management and Culture"

Download file to see previous pages The paper tells that the value of building a sustainable, goal-oriented corporate culture has been identified as a path towards a thriving venture. Corporate culture talks about practical guiding principle, commonplace values, practices, interests, and beliefs integral to managers. Building a stable stakeholder culture is a key force reinforcing firm stakeholder management. One of the prevalent descriptions of stakeholder culture is that it holds the traditions, beliefs, ideals, and objectives that organisations have built for dealing with stakeholder relationships and concerns. Successful stakeholder management involves the formation of a corporate culture that most largely envisions and considers responsibilities to stakeholders (e.g. individuals, employees, communities, etc). Corporate stakeholders nowadays are confronted with policy and public demands, corporate social responsibility (CSR), and business ethics. Many of such issues are alongside a boost in government ruling and the enlarged position of subordinate stakeholders in reaction to the economic disorders. Organisations are looking for new code of ethics that will originate from traditional norms as well as from moral codes. Policymakers and government stakeholders have recently acted to implement more accountability and transparency from CEOs to guarantee ethical business conducts and the rights of shareholders. Organisations will discover means to financially support CSR programmes with the assistance of the government, community advocates, and humanitarians. (Polonsky 2005). Ultimately, according to Lamb and Mckee (2005), for the demands of public policy, it is important for numerous stakeholders, especially employees, employers, labour unions, and the government to work in partnership to promote ethical corporate conduct and stakeholder management. Current studies have emphasised the notion of ‘stakeholder culture’ as an influential force when organisations are attempting to evaluate the value of different stakeholder demands. Although some businesses manage to survive an economic setback, they would be in a better position if they will evaluate their stakeholder culture, rooted in ethical conduct, and characterised as the “shared beliefs, values, and evolved practices regarding the solution of recurring stakeholder-related problems” (Global Economics Crisis Resource Centre 2009, 34). Recognition of an organisation’s stakeholder culture can contribute to the growth of cooperation among stakeholders. The Stakeholder Theory In the 1970s, extraordinary intensities of environmental crisis and development, such as oil crisis, occurred. Because of this predicament the ‘stakeholder theory’ emerged as an ingenious global perspective of the corporate world (Lorca & Garcia-Diez 2004). Nevertheless, the concept upon which it was grounded was an already widely known field, because the concept ‘stakeholder’ had been applied in the 1960s. However, some scholars trace back the origin of ‘stakeholder’ way earlier than the 1960s; Preston (1990 as cited in Lorca & Garcia-Diez 2004) claims that the concept surfaced when the General Electric Company classified primary stakeholders during the Great Depression, namely, the general public, customers, employees, and owners. But it was Freeman (1984) who formally established the stakeholder theory. Today, according to Carroll and Buchholtz (2011), the stakeholder theory is recognised far and wide and has gained the official approval of numerous academic disciplines, and professional groups. Nowadays, success no longer relies simply on the customer, but also on the attainment of a stable equilibrium that pleases a company’s stakeholders: employees, owners, customers, suppliers, and ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Building Stakeholder Management and Culture Essay”, n.d.)
Retrieved from https://studentshare.org/management/1395401-building-stakeholder-management-and-culture
(Building Stakeholder Management and Culture Essay)
https://studentshare.org/management/1395401-building-stakeholder-management-and-culture.
“Building Stakeholder Management and Culture Essay”, n.d. https://studentshare.org/management/1395401-building-stakeholder-management-and-culture.
  • Cited: 0 times
Comments (1)
Click to create a comment or rate a document
tr
tracy56 added comment 7 days ago
Student rated this paper as
The topic of "Building Stakeholder Management and Culture" is quite often seen among the assignments in university. Still, this essay opens a brand new perspective of seeing the problem. I’ll use the style for my own example.
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Stakeholder management
Stakeholders interests differ from those of the shareholders thus organisations should balance the two conflicting interests in order to ensure long term growth and survival of the business. This paper will discuss stakeholder management at Unilever and how the stakeholders have responded to the approach.
4 Pages(1000 words)Essay
Stakeholder management and risk management
The process of stakeholder management involves managing the external as well as the internal stakeholders of the company in order to bring them into a common platform for achieving the goals of the company. The stakeholder management approach depends on the analysis of information obtained at different stages during the stages of stakeholder identification and stakeholder engagement.
6 Pages(1500 words)Essay
The concept of stakeholder management
The said organizations must also address stakeholders because it is the ethical course of action to pursue. Stakeholders have claims, rights, and expectations that should be honored, and the stakeholder approach in governance analysis encourages that pursuit.
4 Pages(1000 words)Essay
Strategic Management - Stakeholder analysis
Sony had originally defined its business as, “electronic information” and refused to go beyond this specific niche and engage in other ventures. This policy of non
4 Pages(1000 words)Essay
Stakeholder theory and Strategy
The paper is structured as follows – first, stakeholder theory is introduced along with the presentation of the stakeholder model of the firm,
24 Pages(6000 words)Essay
Stockholder management versus stakeholder management
Is it the stockholder management, advocated by the former or the stakeholder management of the latter? In The Social Responsibility of Business is to Increase its Profits, Friedman argued that the mission and purpose of a corporate
6 Pages(1500 words)Essay
Stakeholder mapping Stakeholder analysis
While serving the interests of a number of stakeholders, the decisions are influenced from a number of interest groups, depending upon the criticality of the policy or decision. While identifying the stakeholders, a
10 Pages(2500 words)Essay
Stakeholder Management
e orientation of the stakeholders as an approach to operation, which addresses the concerns and issues of participants and other interested parties in the business operation. He defends the concept of distributive justice as a normative ideology to offer values and principles
6 Pages(1500 words)Essay
BP Stakeholder and Reputation Management
The issues are discussed in details so as to provide a comprehensive knowledge about the weak Corporate Social Responsibility (CSR) activities of companies such as the British Petroleum. In addition, the reputation management of BP was equally weak and forms an important point of discussion in the paper.
12 Pages(3000 words)Research Paper
Stakeholder Management
As the report stresses the two approaches mainly provide for objectives to be considered with stakeholder partnership and collaboration. The approach mainly aims at increasing the positivity in the relationship with stakeholders by understanding their needs and expectations, and how they can be provided under existing and agreed objectives.
2 Pages(500 words)Essay
Let us find you another Essay on topic Building Stakeholder Management and Culture for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us