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Assignement 5 Case 15

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Submitted By daniellefikes
Words 757
Pages 4
Danielle Fikes
BUS 499
March 10, 2011
Assignment 5 1. Describe how successful the business has been at recognizing and satisfying stakeholder interests. The sisters of Harry McNeely and Don McNeely were stock holders and their interests were being completely ignored. Whether you are family or not, if an individual is a stock owner, their voice is to be heard considering they own part of the company that is bringing in income. According to definition, a stockholder is, "one who owns shares of stock in a corporation or mutual fund," (stockholder, 2011). Family or not, there are still legalities that must be honored in this case. It seems that the brothers clearly violated their sisters rights as stockholder. It took unecessary time and heartache in order for the sisters to get anything in the end. This is a situation that could have and should have been resolved very early on. When the compnay was split into two different companies, they did not discuss the issue with the stakeholders. The two brothers just decided to do it themselves and basically figured life would continue on as normal. This is bad business. Stakeholders have a huge say so when it comes to what happens to a business. It is unfair to have people invest money into something and then not be able to say anything when it comes to changes.

References stockholder. (2011). Retrieved March 12, 2011, from http://www.investorwords.com/4735/ stockholder.html

2. Describe the mechanisms that are available to manage relationships with stakeholders and to influence the strategic direction and performance of the company. There are a few options here. First and foremost, one needs to identify the stakeholders. It is always important to know who you are dealing with before going to the next step. Next, one needs to analyze the stakeholders needs. What do they want to

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