Stakeholder Theory

In: Business and Management

Submitted By huntctom
Words 1305
Pages 6
Apply the stakeholder mapping concept to the University of Essex. What does your analysis tell you about the relative levels of interest and power of the various stakeholders?

In this report, I shall define, explain and talk about what is known as “Stakeholders”. I will discuss their relations to an organisation, how much influence they have on it and how much control do they have over an organisation if any, and my model organisation here will be the University of Essex.
Stakeholders can be defined as a group of individuals that can almost always affect or be affected by a company’s purpose, which of course may include government agencies, competing organisations, customers, suppliers, and staff as well (Boddy 2008). Given the widely spread effects of many businesses, stakeholding might extend to the whole of society (Sloman 2010).

These groups have a stake in, or are significantly affected by what the organisation does. Freeman referred to them as a group of individuals (Freeman 1984), and that they must be looked at as individuals, and not just some entity. This is because –as mentioned by Robbins & Cutler (2009) – establishing a relationship with them can lead to a desirable organisational outcome, such as improved predictability of environmental changes, more successful innovations, and a greater organisational flexibility to reduce the impact of change.
But for an organisation to establish a relationship with its stakeholders, it needs to first identify them, which means identifying their interests(......). Once they identify their interests, they can then move on to the yet more difficult part, and that is analysing them, and here we would have reached the concept which is known as Stakeholder Mapping(....).
However, it is very crucial that an organisation differentiates between its stakeholders, as some are more critical to the…...

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