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Essay / Research Paper Abstract
This 10 page paper considers the topic of how strategy is formed and the way in which competing stakeholder needs may impact on that decision. Business has the goal of satisfying shareholders. However shareholders are not the only stakeholders. If a company does not satisfy the needs of other stakeholders they may loos business or upset employees and see a fall in productivity. This paper shows how there is a clash between the needs of the different stakeholders and how this may emerge, such as with different approaches to environmental practices. The paper also argues that with greater flow of information and more pressures on business there is a gradual increasing affinity and alignment between the needs of the business and the needs of the stakeholders in order to carry on a successful business. The bibliography cites 16 sources.
Page Count:
10 pages (~225 words per page)
File: TS14_TEstakstrat1.rtf
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Unformatted sample text from the term paper:
business or upset employees and see a fall in productivity. This paper shows how there is a clash between the needs of the different stakeholders and how this may emerge,
such as with different approaches to environmental practices. The paper also argues that with greater flow of information and more pressures on business there is a gradual increasing affinity and
alignment between the needs of the business and the needs of the stakeholders in order to carry on a successful business. Table of Contents 1. INTRODUCTION 2 2. STAKEHOLDERS AND
STRATEGY 3 2.1 The Potential Clash 3 2.2 Determining the Strategy 4 2.3 The Approaches 5 3. CONCLUSION 5 1. Introduction Any business will have a strategy. The way the
strategy is developed will depend on many factors. One of these factors will be the way n which stakeholders are perceived. Strategy comes from Greek stratgi meaning office of a
general. In business terms it may be defined as " plan of action resulting from strategy or intended to accomplish a specific goal" or " The art or skill of
using stratagems in endeavours such as politics and business" (dictionary.com, 2005). The influences may be broad ranging and will include the aim of the
business, but stakeholders will also have an influence. A stakeholder is defined as "one who has a share or an interest, as in an enterprise" (dictionary.com, 2005). The difficulty is
determining who is a stakeholder and how many of the conflicting needs can be meet with the strategy a company. 2. Stakeholders and Strategy 2.1 The Potential Clash
Stakeholders are traditionally divided into two categories; primary and secondary. Primary stakeholders are those who are directly effected. This includes the employees suppliers and customers. They
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