STAKEHOLDER MANAGEMENT Part 1

STAKEHOLDER MANAGEMENT Part 1 - customers employees...

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STAKEHOLDER MANAGEMENT
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Any group or individual who can affect or is affected by the achievement of the organization’s objectives. (Thompson, 1967) Stakeholders
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Primary Stakeholders M A R K E T Stockholders CORPORATION Customers Competitors Suppliers Wholesalers Retailers Creditors Employees
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N O M A R K E T General Public Fed, State, Local Government Groups Social Activist Groups Local Communities Media Foreign Governments CORPORATION Secondary Stakeholders
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Stockholders CORPORATION Customers Competitors Communities Wholesalers Retailers Creditors Employees General Public Fed, State, Local Government Groups Social Activist Groups Local Communities Media Foreign Governments
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“Stakeholder theory suggests that companies are beholden not just to stockholders – but also to suppliers,
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Unformatted text preview: customers, employees, community members, even social activists. Things have become a lot more interdependent. There are a broader range of constituents.” (Nardelli, CEO of Home Depot, 2005) Stakeholder Theory Stakeholder Attributes • Power • Legitimacy • Urgency Social Capital • An asset that resides in relationships and is characterized by mutual goals and trust • Facilitates smooth internal and external transactions and processes A Changing World “We thought we could sit in Bentonville Arkansas, take care of customers, take care of associates—and the world would leave us alone. It doesn’t work that way anymore.” (WalMart CEO Lee Scott)...
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STAKEHOLDER MANAGEMENT Part 1 - customers employees...

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