...1. Explain the concepts of stake and stakeholder from your perspective as an individual. What kinds of stakes and stakeholders do you have? Discuss. The idea of stake in my point of view as an individual would be a investment that you have made to yourself future, my stake in that would be I have put in a lot of time to educating myself and having good education so that can lead me get a good life. So for me stake means investing in myself future. On other word, stakes A stake is something that you have an interest in and having rights towards that interest. In this way, you can have a stake towards a specific course in school. Stakeholder from my point of view would be a something that you are firmly part of and has...
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...Riordan Manufacturing Service Request Michael Eaddy University Of Phoenix BSA/375 Week 2 Assignment Riordan Manufacturing Summary Dr. Riordan was a professor of chemistry who started Riordan Plastic Incorporated in 1991. In the beginning, his company’s main focus was on (R&D) research and development along with licensing. Then in 1992, Dr. Riordan invested in a fan manufacturing facility in Pontiac, MI. and changed the name of the facility to “Riordan Manufacturing, Inc.” Then again in 1993, Dr. Riordan purchased another manufacturing facility, this time it was in Albany, GA. The company expanded into the production line and started making plastic beverage containers. Riordan Manufacturing made its most resent expansion in 2000 by moving there fan making operations from Michigan to China. During this transition time period, all the parts and tools were switched out so that they could accommodate there custom plastic parts company. Currently, Riordan Manufacturing employs over 550 workers based in four different locations and has an annual earning of approximately $46 million. Some of its products manufactured by Riordan Manufacturing include: ▪ Fans ▪ Plastic Bottles ▪ Custom Plastic Parts ▪ Heart Valves ▪ Medical Stints Although Riordan Manufacturing has been successful from the beginning of there operations, there are still improvements that can be made. This review has identified the necessary changes needed in order to help make...
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...Virtual Class ~ PutraLMS http://lms.upm.edu.my/ • Notes • Announcement • Assignment 1-3 1-3 Chapter 1 The Corporation and Its Stakeholders McGraw-Hill/Irwin Copyright © 2014 by The McGraw-Hill Companies, Inc. All rights reserved. Ch. 1: Key Learning Objectives Understanding the relationship between business and society Considering the purpose of the modern corporation Knowing what is a stakeholder and who a corporation’s market and nonmarket and internal and external stakeholders are Conducting a stakeholder analysis, and understanding the basis of stakeholder interests and power Recognizing the diverse ways in which modern corporations organize internally to interact with various stakeholders Analyzing the forces of change that continually reshape the business and society relationship 1-5 Introduction – The Business and Society Relationship Business: Any organization that is engaged in making a product or providing a service for a profit Society: Human beings and the social structures they collectively create 1-6 Figure 1.1 Business and Society: An Interactive System 1-7 Introduction – The Business and Society Relationship We borrow “General Systems Theory (GST)” from biology to explain this relationship; first introduced in 1940s Theory posits that organisms cannot be understood in isolation, even though they have clear boundaries; they can only be understood in relationship to their...
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...Chapter 1 The Corporation and Its Stakeholders McGraw-Hill/Irwin Copyright © 2014 by The McGraw-Hill Companies, Inc. All rights reserved. Ch. 1: Key Learning Objectives Understanding the relationship between business and society, and the ways in which they are part of an interactive system Considering the purpose of the modern corporation Knowing what is a stakeholder and who a corporation’s market and nonmarket and internal and external stakeholders are Conducting a stakeholder analysis, and understanding the basis of stakeholder interests and power Recognizing the diverse ways in which modern corporations organize internally to interact with various stakeholders Analyzing the forces of change that continually reshape the business and society relationship 1-2 Introduction – The Business and Society Relationship Business: Any organization that is engaged in making a product or providing a service for a profit Society: Human beings and the social structures they collectively create Business and society are highly interdependent 1-3 Introduction – The Business and Society Relationship We borrow “General Systems Theory (GST)” from biology to explain this relationship; first introduced in 1940s Theory posits that organisms cannot be understood in isolation, even though they have clear boundaries; they can only be understood in relationship to their surroundings Adapted to management theory means that business ...
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...Topic 1: Understand what a stakeholder is and the difference between market and non-market stakeholders * What is a Stakeholder? Person or group that affects, or is affected by, an organization’s decisions, policies, and operations * Stockholders are a type of stakeholder but all stakeholders are not stockholders. * Some stakeholders are Employees * Others are Customers * Still others are Suppliers &/or Creditors * Market Stakeholders Stakeholders that engage in economic transactions with the firm. * They include: * Employees * Stockholders * Creditors * Suppliers * Customers * Distributors, wholesalers, and retailers * Each relationship is a two-way exchange i.e. employees produce output and firm pays them wages * Are manager’s stakeholders? some would argue that as employees they are while others would argue that they are representatives of the firm who act in the best interest of stakeholders * Non-market Stakeholders people and groups who are affected or can be affected by the actions of the firm even though there is no economic transaction involved * They include: * Community * Government * Non-governmental organizations (i.e. charities, professional associations, environmental organizations) * Media * Business support groups * General public * Direct...
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...Stakeholders and Risk Management (graded) | Both the PMBOK® Guide and the ATOM process discuss the role of stakeholders in risk management. How does a project manager identify stakeholders for a project? How does a project manager involve these stakeholders in risk management? | This section lists options that can be used to view responses. Collapse All | Print View | Show Options | Responses Responses are listed below in the following order: response, author and the date and time the response is posted. | | Sort by Response | Sort by Author | Sort by Date/Time* | (an instructor response) | | Question 1 ..Stakeholder Identification ?? | Professor Hiegel | 1/10/2015 3:46:03 PM | | | How does a project manager identify stakeholders for a project?orHow does a project manager know which stakeholders are more important to a project? | | | | RE: Question 1 ..Stakeholder Identification ?? | Phillip Murray | 1/11/2015 7:26:56 AM | | | If a stakeholder register has been executed as part of the initial plan then this will simplify this step greatly. I would revisit the register and "scrub" it for a comprehensive list of internal and external stakeholders. PMBOK chapter 13 on pgs 395-396, para 13.1.2.1 Stakeholder Analysis, describes several classification models that can be used to identify stakeholders. I also found a small article that says some of the same things in a simpler manner. http://www.projectmanager.com/identify-project-stakeholders...
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...Chapter 01 What Is Strategy, and Why Is It Important? Multiple Choice Questions 1. | Keeping in mind Apple's competitive advantage, which of the following products was introduced by Apple in 2007? A. | iPad | B. | iPhone | C. | iPod | D. | iTunes | | 2. | _____ is best described as an integrative management field that combines analysis, formulation, and implementation in the quest for competitive advantage. A. | Supply chain management | B. | Integrated technology management | C. | Strategic management | D. | Inventory management | | 3. | _____ is best described as a set of goal-directed actions a firm takes to gain and sustain superior performance relative to competitors. A. | Behavior modification | B. | Strategy | C. | Credo | D. | Competency management | | 4. | Which of the following stages of the strategic management process involves an evaluation of a firm's external and internal environments? A. | Strategy analysis | B. | Strategy implementation | C. | Strategy formulation | D. | Strategy control | | 5. | In _____, a firm frames a guiding policy to address the competitive challenge. A. | strategy control | B. | strategy implementation | C. | strategy formulation | D. | strategy analysis | | 6. | Through _____, a firm puts its guiding policy into practice by employing a set of coherent actions. A. | strategy control | B. | strategy implementation...
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...Stakeholders, Shareholders and Wealth Maximization V. Sivarama Krishnan, University of Central Oklahoma ABSTRACT This paper attempts reconciliation between the two somewhat extreme views espoused by the shareholder wealth maximization paradigm and the stakeholder theory. The stakeholder theory challenges the basic premise built into corporate finance theory, teaching and practice. Corporate finance theory, teaching and the typically recommended practice are all built on the premise that the primary goal of a corporation should be shareholder wealth value maximization. Extant theoretical and empirical research in financial economics also generally accept shareholder wealth maximization as the normative and ideal goal on which all business decisions should be based. This paradigm assumes that there are no externalities and all the participants engaged in transactions with the firm are voluntary players competing in free, fair and competitive markets. A very different view is offered by what is loosely called stakeholder theory. The stakeholder theory posits that the focus on shareholders and firm value is misplaced and managers should be concerned with all stakeholders of the firm. The paper attempts to address what is felt as a lack of dialogue between the two camps. INTRODUCTION Corporate finance theory, teaching and the typically recommended practice at least in the US are all built on the premise that the primary goal of a corporation should be the maximization...
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...are impacting upon the business activities of the selected organisations and their stakeholders You need to select two business environments for this assignment. In your introduction give a description of what recession, recovery and growth are. Growth – this is currently taking place in China, Russia, India and Brazil where lots of new businesses are starting and other businesses growing. It was taking place in the UK prior to 2007 (when the recession started). Recession – since the global banking crisis in 2007, this is currently affecting the UK and most of the Western World although the UK is starting to recover. In this assignment you need to compare the growth in the UK prior to 2007 to where we were in the recession (looking at the labour government policies) verses where we are now under the coalition current government (coming out of recession) and what their policies are. This then needs to be related to your two organisations stating how each area affects your organisations activities and stakeholders? Political (Page 37-40 ebook) Notes: Describe what government policies are and relate them to your organisation and stakeholders views in the following subheadings: Political stability (consider government policies in growth period under the old government and now under the new coalition in the recession). What did they do when we were doing well, what is happening now to reduce the spending. This means that people will have less money...
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...BUSINESS ETHICS AND STAKEHOLDER ANALYSIS Kenneth E. Goodpaster Abstract: Much has been written about stakeholder analysis as a process by which to introduce ethical values into management decision-making. This paper takes a critical look at the assumptions behind this idea, in an effort to understand better the meaning of ethica] management decisions. A distinction is made between stakeholder analysis and stakeholder synthesis. The two most natural kinds of stakeholder synthesis are then defined and discussed: strategic and multi-fiduciary. Paradoxically, the former appears to yield business without ethics and the latter appears to yield ethics without business. The paper concludes by suggesting that a third approach to stakeholder thinking needs to be developed, one that avoids the paradox just men* tioned and that clarifies for managers (and directors) the legitimate role of ethical considerations in decision-making. So we must think through what management should be accountable for; and how and through whom its accountability can be discharged. The stockholders' interest, both short- and long-term, is one of the areas. But it is only one. Peter Dnicker, 1988 Harvard Business Review W HAT is ethically responsible management? How can a corporation, given its economic mission, be managed with appropriate attention to ethical concerns? These are central questions in the field of business ethics. One approach to answering such questions that has become popular during...
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...STAKE HOLDER MANAGEMENT Introduction. A stakeholder is any person or organization who can be positively or negatively affected or affect the actions of: a company, government or organization. People who have vested interest in the policy that is being promoted are considered stakeholders in the process. There are various types of stake holders.Exaple: * Primary stakeholders: are those ultimately affected, either positively or negatively by an organization's actions. * Secondary stakeholders: are the ‘intermediaries’, that is, persons or organizations who are indirectly affected by an organization's actions. * Key stakeholders: (who can also belong to the first two groups) have significant influence upon or importance within an organization. Stakeholder analysis is a term that refers to the action of analyzing the attitudes of stakeholders towards something such as a project. It is frequently used during the preparation phase of a project to assess the attitudes of the stakeholders regarding the potential changes. Stakeholder analysis can be done once or on a regular basis to track changes in stakeholder attitudes. Stakeholder analysis is a process of systematically gathering and analyzing qualitative Information to determine whose interests should be taken into account when developing and implementing a project. [Citation needed] Stakeholder analysis in conflict resolution, project management, and business administration, is the process of identifying the individuals...
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...Cross-Cutting Tool Stakeholder Analysis October 2005 Resources for Implementing the WWF Standards Contents What Is Stakeholder Analysis?............................................................................................ 1 Why Stakeholder Analysis Is Important ............................................................................. 1 When to Use Stakeholder Analysis ..................................................................................... 1 How to Develop and Use Stakeholder Analysis................................................................. 2 1. Identifying the key stakeholders and their interests (positive or negative) in the project ..........2 2. Assessing the influence and importance of each stakeholder as well as the potential impact of the project upon each stakeholder .................................................................................................4 3. Identifying how best to engage stakeholders ...........................................................................4 General Lessons............................................................................................................................5 References............................................................................................................................. 6 This document is intended as a resource to support the implementation of the WWF Standards of Conservation Project and Programme Management. Stakeholder analysis is an important...
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...role when it comes to companies and how they are run. Baase (2013) stated, “Many professional organizations have codes of professional conduct. They provide valuable guidance for new and young members” (p. 406). Baase (2013) stated, These codes provide general statement of ethical values and remind those that are in that particular profession that ethical behavior is essential to doing their job correctly and professionally. For this assignment I will identify stakeholders, the risks, issues, problems, and consequences. I will also discuss the benefits, responsibilities of the decision makers, the rights of the stakeholders, and the impact of the actions of the options on stakeholders. Identify Stakeholders: According to Businessdictionary.com (2015), “a stakeholder is a person, group, or organization that has interest or concern in an organization” (para. 1). Stakeholders can affect or be affected by changes within the organization such as objectives, issues, problems, and policies. For this organization the stakeholders are consists of employees, directors, owners, suppliers, the community, unions, and creditors. Risks, Issues, Problems, and Consequences: The problem that lies here is that there is a loophole in which those who are not authorized to have personnel access do have it; they are able to see confidential data that they should not be allowed. The issue at hand is that those employees know that there is a loophole, but still took it upon themselves to access those...
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...[pic] Program Management Office Stakeholder Management Approach and Plan About this document Purpose This document details the process of identifying and managing stakeholders. Definitions, templates and worked examples are all provided. Summary of Changes |Version |Date |Summary of Changes/Comments | |0.2 |2 Dec 04 |Initial Draft provided to Richard Priestly for comment. | |0.3 |6 Dec. 04 |Updated version with comments from Richard. | |0.4 |7 Dec. 04 |Updated version with comments from Susan. | |1.0 |10 Dec 04 |Updated with comments from Michael and released for approval. | Table 1: Version History Author David Worthington, PMO Consultant Introduction Stakeholder identification and management is a key skill for all project managers, program managers and executives (collectively called project manager for the purpose of this paper). Stakeholders are individuals who represent specific interest groups served by the outcomes and performance of a project or program. Project managers are accountable for the end-to-end management of their projects, including performance and expectation management of individuals who may be outside their direct control. Project managers...
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...Cross-Cutting Tool Stakeholder Analysis October 2005 Resources for Implementing the WWF Standards Contents What Is Stakeholder Analysis?............................................................................................ 1 Why Stakeholder Analysis Is Important ............................................................................. 1 When to Use Stakeholder Analysis ..................................................................................... 1 How to Develop and Use Stakeholder Analysis................................................................. 2 1. Identifying the key stakeholders and their interests (positive or negative) in the project ..........2 2. Assessing the influence and importance of each stakeholder as well as the potential impact of the project upon each stakeholder .................................................................................................4 3. Identifying how best to engage stakeholders ...........................................................................4 General Lessons............................................................................................................................5 References............................................................................................................................. 6 This document is intended as a resource to support the implementation of the WWF Standards of Conservation Project and Programme Management. Stakeholder analysis is an important...
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