01c MGT 353 Chap 1

2 the stakeholders of business 1 18 figure 13 a firm

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Unformatted text preview: Stakeholders of Business 1-18 Figure 1.3 A Firm and Its Stakeholders 1-19 Stakeholder Analysis It is part of every manager’s job Process whereby identify relevant stakeholders and analyze their interest and power Asks 4 questions: Who are the relevant stakeholders? What are the interests of each stakeholder? What is the power of each stakeholder? How are coalitions likely to form? 1-20 Stakeholder Analysis – Question 1 Who are the Relevant Stakeholders? Answer this question by drawing market and nonmarket stakeholder maps Recognize that not all of groups are relevant to every situation Examples: • Some businesses sell directly to the public and will not have retailers • A certain stakeholder may not be relevant to a particular decision/action 1-21 Stakeholder Analysis – Question 2 What are the interests of each stakeholder? Analyzing stakeholder interests includes addressing: What are the groups’ concerns? What does the group want/expect from their relationship with the firm? Exampl...
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This document was uploaded on 03/05/2014.

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