Free

Establishing Stakeholder Orientation - Coursework Example

Comments (0) Cite this document
Summary
Stakeholders, in this sense, are the entities that define the existence of a business. Stakeholders, for instance, may comprise the customers, employees, shareholders, the community, and…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER96.6% of users find it useful
Establishing Stakeholder Orientation
Read TextPreview

Extract of sample "Establishing Stakeholder Orientation"

Stakeholder orientation Stakeholder orientation Stakeholder orientation pertains to offering economic and social value to all stakeholders. Stakeholders, in this sense, are the entities that define the existence of a business. Stakeholders, for instance, may comprise the customers, employees, shareholders, the community, and the suppliers. It is essential to highlight that stakeholder orientation emphasizes on the social definition since the principal indulgence of a business is profit making.
Stakeholder orientation is a major part of corporate ethics and social responsibility. In the traditional business age, profit making was the principle motive of a business. The development of the world has made individuals realize that business has a role that extend beyond economic wealth creation. Businesses possess a social role since they create externalities in the environment. For instance, proper enumeration of employees compensate for the cost that workers incur in working for the company. Organizations participate in stakeholder orientation for their own benefit and for the sake of stakeholders’ satisfaction (Maurer, 2007). In this sense, the stakeholders feel that the organizations take care of their needs.
Stakeholder orientation seeks to establish sustainable economic development by working with the employees, local community, shareholders, and the larger society (Ferrell, Fraedrich & Ferrell, 2013). This has a significant impact on honesty and fairness since corporate entities manifest as partners in societal development. When organizations emphasize on the satisfaction of their stakeholders, the larger society is highly likely to respect the profit making intention of businesses. In addition, it promotes information sharing, which makes the business’s activities and intentions clear. This enhances accountability as each party enjoys the incentive to practice fairness.
References
Ferrell, O. L., Fraedrich, J. & Ferrell, L. (2013). Business Ethics and Social Responsibility. Mason, OH: South -Western Cengage Learning.
Maurer, M. (2007). Corporate stakeholder responsiveness: An evolutionary and learning approach. Bern: Haupt. Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Establishing Stakeholder Orientation Coursework Example | Topics and Well Written Essays - 250 words”, n.d.)
Establishing Stakeholder Orientation Coursework Example | Topics and Well Written Essays - 250 words. Retrieved from https://studentshare.org/social-science/1660316-establishing-stakeholder-orientation
(Establishing Stakeholder Orientation Coursework Example | Topics and Well Written Essays - 250 Words)
Establishing Stakeholder Orientation Coursework Example | Topics and Well Written Essays - 250 Words. https://studentshare.org/social-science/1660316-establishing-stakeholder-orientation.
“Establishing Stakeholder Orientation Coursework Example | Topics and Well Written Essays - 250 Words”, n.d. https://studentshare.org/social-science/1660316-establishing-stakeholder-orientation.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Establishing Stakeholder Orientation

Sexual Orientation

...?Sexual Orientation One of the most controversial topics in this day and age is homosexuality, whose prevalence and legal rights have been brought into question. While some people believe that homosexual couples deserve the same rights and privileges as heterosexual couples, there are still those that feel marriage, and all associated rights and benefits, should be reserved for heterosexual couples. This is due to the belief that marriage is an institution that can only be accomplished between a man and a woman as procreation is often involved. However, by denying homosexual couples the chance to marry and start a family of their own, they are being denied their legal, equal rights. The legal rights of homosexual couples...
2 Pages(500 words)Essay

Stakeholder mapping Stakeholder analysis

...Stakeholder mapping and Stakeholder analysis For any business venture, organisation, project, mission or task there are a number of stakeholders, whose interest is very much dependent on the success or failure of the steps being taken. The numbers of stakeholders increase as the size of the venture increases. Any business operates within a complex system of interests and influences. 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 company is supposed to look beyond the...
10 Pages(2500 words)Essay

Entrepreneurial Orientation and Marketing Orientation

...relationships in ways that benefit the organization and its stakeholders,” ( American Management Association, 2004 )7 . Marketing management is the art and science of choosing target markets and getting, keeping and growing customers through creating, delivering, and communicating superior customer value. (Kotler, et al. 2007)8 “ Marketing-orientation is a cognitive, behavioral, and cultural aspect of a firms marketing concept that puts the customer at the center of the organization “ ( Deshpande and Webster, 1989)9, and its development usually follows as a matter of course. Market orientation is also defined as the organization-wide generation of market intelligence regarding...
12 Pages(3000 words)Essay

Stakeholder

...structure, establish a recognised division of labor, and augment administrative processes to be more attune to the workforce as the business increases the number of employees. Likewise if employees feel ignored as an organisation grows, workers may feel that an implied psychological contract has gone unfulfilled, and that may impact workplace attitudes and eventually the intention to leave the company. Simultaneously, mining companies interested in growth and mutual prosperity, may decide that the attitude and performance of the workforce is paramount to the manufacture of their products or services, and management may be more oriented toward employees than any other stakeholder...
5 Pages(1250 words)Essay

Wyndham Adopts a Stakeholder Orientation Marketing Strategy

...Wyndham worldwide adopts a stakeholder orientation marketing strategy Introduction Among the world’s largest hotel group Wyndham Hotel Group is the largest group because of the huge number of properties that the company has. The group looks to get maximum profit mostly by franchising, which accounts to about 84% of the total profit earned by the company. The company was been founded in 1981 by Trammel Crow. The company grew at a fast pace and merged with Patriot American hospitality in 1988. This new company was named as the Wyndham International Inc., this company started to implement new aggressive strategy of acquiring hotels and companies across the globe in different parts of different countries. ...
6 Pages(1500 words)Case Study

Stakeholder

...What are stakeholders? Stakeholder theory is the theory that concerns the essence of the connection between the institution and the respective people who have an interest with that particular institution and the procedure and the results of these relations for the institution and the particular people who have an interest in the business (Driscoll and Starik, 56). The manager of the institution is commonly located in the center of the constitutional relation amongst a business institution and its stakeholders. The word Stakeholders has to two kinds of definitions one is the inclusive while the other is the exclusive definition. The inclusive definition includes any group...
2 Pages(500 words)Essay

Stakeholder Letter

For the students, they can have a chart in class with all their names listed down. Then against each name of the student, a star should be put for any positive effort by the students towards learning and understanding English as a foreign language. This will also include either academic or extra-curricular activity. There will be special motivation packages for the ESL students who will have mastered the English language in the shortest time during the time of evaluation. By doing this, each of the students will be motivated to get more stars in order to be ranked the best at the end of the evaluation period. The chart containing the stars should be reviewed at the end of every month, and after undertaking an exam. In addition, fo...
2 Pages(500 words)Article

Stakeholder analysis

...Oxford Hills Healthy Moms Project A). Like all organizations, Oxford Hills Moms Project is has the following kinds of stakeholders: 1. Member – these are the constituents of the group. The people who are served the many operations of the organization. 2. Management- these are the official representatives that make the decisions for the organization. They are accountable for the decisions that the group makes. 3. Other stakeholders include the people the organization does business with, these include the kinds of business they reach out to in case they are running a project that requires their help or expertise. 4. Government –the organizations works with the local government of North Carolina. The...
2 Pages(500 words)Essay

Establishing theme

...Cinematic Techniques and Design Elements and their Influence on the Theme Establishment in “Star Wars: A New Hope” Abstract Works of visual art, movies, use different techniques and design elements to maintain their themes. These techniques and elements contribute to the complete and precise conveying of the original idea and establishing the major theme or themes in the video film. This paper will investigate how the technique of lighting and such design elements as costuming and set design help to reach the mentioned goal. Cinematic Techniques and Design Elements and their Influence on the Theme Establishment in “Star Wars: A New Hope” Introduction Star Wars is one of the world’s...
4 Pages(1000 words)Essay

Stakeholder Analysis

...Stakeholder Analysis Sur 21 September Stakeholder Analysis Stakeholders are the people, organizations and groups who have aneffect on the vision and mission of a firm which in this particular case study is the Boston University minor league baseball Franchise. The stakeholders’ actions and attitudes in the Boston University baseball franchise have a direct influence on the overall success rate of the franchise. Stakeholders are also impacted by the firms’ strategic outcomes and can also have a claim on the performance of the firm (Ian, 2014). However, not all the stakeholders have a similar amount of influence and interest in the...
3 Pages(750 words)Assignment
sponsored ads
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.

Let us find you another Coursework on topic Establishing Stakeholder Orientation for FREE!

Contact Us