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.

Dq 6 - Essay Example

Such mechanisms include social complexity and costs of transactions. However, there is the challenge of dynamic and ever-changing situations that require managers to adopt different strategies that can ensure the management of stakeholder relations (Freeman, Edward, Wicks & Bidhan, 2004, p. 365). Therefore, firms need to strengthen their capacity of resource advantage to fit the competitive strategy. In order to achieve maximum performance, it is important that firms reconcile both the dark and bright sides of stakeholder management. In recent times, stakeholder management has become a very prominent contribution to business ethics. The origin of stakeholder management dates back to the publication of strategic management: A Stakeholder Approach by R. Edward Freemen in 1984 (Jensen, 2002, p. 250). Since then, stakeholder management has become the most recognized feature in ethical management. The central theme in stakeholder management is that managers ought to consider the decision of all stakeholders when making decisions. It outlines the obligation to serve the interests of all stakeholders. The advantage is that the modern firm aiming to gain profit can serve the interests of all stakeholders and everyone benefits from its activities. In such a case, it complements corporate governance which promotes fairness in serving the interests of stakeholders. Stakeholder management has a dark side to its assumption of serving the interests of stakeholders. It does not consider the fact that

Check these samples - they also fit your topic

DQ 6 DQ 7 WEEK 5
The minimum sample size is thirty observations. The sample size was 30 samples. However analysis of this data did not provide statistical significant results. More data was needed so 50 data samples were collected to achieve statistical significance. The data was collected by means of observation of unleaded gasoline prices in local stations.
2 pages (500 words)Essay
Abnormal Psych DQ Questions
The use of intelligence tests for evaluation of autism is not easy, but can be used to indicate autism, with the high probability of mental retardation
2 pages (500 words)Essay
Monopolistic competition prevails in a market where there are large number of sellers manufacturing different products like furniture, clothing and books. In this setting there is a non price competition
2 pages (500 words)Essay
Refrace week 4 dq
He describes his actions in causing massive trading losses as being done in order to support that family and to ensure their future success. He traded quite aggressively which he saw as being part of the ethos and culture of UBS, and he says they would ultimately
3 pages (750 words)Essay
DQ 10
However, fear that they will end up losing their money instead of making profits prohibits them from doing so; hence limiting their personal and financial growth (Sangster, 2000). Procrastination is
1 pages (250 words)Essay
Week 6 DQ 1
There are limitations to the comparability of these two communication systems, since they basically entail different bodies in each case. The comparability of
1 pages (250 words)Assignment
Before conducting research, an individual needs to have a knowhow of the different characteristics associated with research methods, the impact of scenarios and factors on the selection of research method
6 pages (1500 words)Essay
OMM 615: Week 6 DQ 1
As such, Public Relations (PR) becomes an integral part of the ICM since the realization of most of the goals of ICM will significantly depend on the effectiveness of PR. With public relations, people
1 pages (250 words)Assignment
Self-fulfilling prophecies are personal in nature and everyone has his/her experiences. They are situations that the mind automatically generates; thus, making them familiar to everybody. Thus, this is why people develop various perspectives or
1 pages (250 words)Essay
Cardinal disposition is so prominent and dominant in nature they cannot be hidden from other people since they are readily conspicuous. They are
1 pages (250 words)Essay
the actions of managers in serving the interests of stockholders can benefit all stakeholders. In this case, the assumption that management exists to serve the interests of all stakeholders is a fallacy (Bowie, 2004, p. 88). It is possible that managers can interact with the market and derive benefits for the firm without taking into consideration the interests of all stakeholders. The bottom line is that there is always a conflict of interest between stakeholder management and stockholders because there lacks an appropriate approach to ensuring that each stakeholder benefits from the process of wealth creation. The literature material on stakeholder management leads us to ask ourselves two critical questions. First, how best can we protect the interest of each stakeholder? Second, what specific interests of each stakeholder ought to be served based on the assumption that there is joint production? There are two answers to the questions including protecting stakeholder interests and securing fairness for stakeholders (Boatright, 2004, p. 20). In answering the question on how best we can protect the interests of each stakeholder, we should consider an experiment. Supposing all the firms in the market practiced stakeholder management, each of the interest groups would share control of the firm. Managers would consider their fiduciary duty to act in the interests of all stakeholders and the firm will be operating with the objective of maximizing profits. Additionally, all the interest groups should be free to leave such a system of governance and select an appropriate means through which they can protect their interests. This means that stakeholders will no longer rely on management to protect their interests (Boatright, 2002b, p. 15). Instead, the interest groups should seek legal protection in form of contracts. Stakeholders should not consider manager’s fiduciary duty as a privilege because it is an imperfect substitute for the protection of group
Cite this document
  • APA
  • MLA
(“Dq 6 Essay Example | Topics and Well Written Essays - 750 words”, n.d.)
Dq 6 Essay Example | Topics and Well Written Essays - 750 words. Retrieved from https://studentshare.org/management/1460089-dq
(Dq 6 Essay Example | Topics and Well Written Essays - 750 Words)
Dq 6 Essay Example | Topics and Well Written Essays - 750 Words. https://studentshare.org/management/1460089-dq.
“Dq 6 Essay Example | Topics and Well Written Essays - 750 Words”, n.d. https://studentshare.org/management/1460089-dq.
  • Cited: 0 times


Topic: Dq 6 Name Professor Institution Course Date In the past two decades, stakeholder management and competitive advantage have gained a lot of attention. This is because stakeholder management and competitive advantage are core concepts in the field of strategic management…
Author : wiegandmilo
Download 0
Dq 6
Read TextPreview
Comments (0)
Click to create a comment or rate a document
Let us find you another Essay on topic Dq 6 for FREE!
Contact us:
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