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Stakeholder Analysis and Communication

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Submitted By arguelloc
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Stakeholder Analysis and Communication
Cindy Arguello
BUS/475
January 31, 2013
Fred Schaum

The purpose of this paper is to identify the key stakeholders, and to include their interests and values and determine what collaborative interactions are needed with the stakeholders to facilitate the organization’s success. There are several key stakeholders that are needed to facilitate an organization’s success. First there is the inside stakeholders, which are executive officers, board of directors, stockholders, and employers (Pearce & Robinson, 2009). The next is the outside stakeholders, which are customers, suppliers, creditors, governments, unions, competitors, and the general public (Pearce & Robinson, 2009).
Values and Interests
A key stakeholder is a group, or individual who have direct or indirect stake in an organization. Key stakeholders can consist of creditors, directors, employees, customers, shareholders, suppliers, and last the community in which the business is located (Pearce & Robinson, 2009). Stakeholders are affected or can affect the organizations policies, actions, and objectives. Target Corporation has multiple key stakeholders who hold a strong position in the business. These individuals consist of corporate leaders, investors, customers, consultants, employees, and the community. Gregg Steinhafel is the Chief Executive Officer, and he is a key stakeholder for Target, and he believes in Target's philosophy on the connection between strong communities and a healthy business (Target, 2013).
It is imperative for Target to maintain a cohesive relationship with key stakeholders because they are valuable to the company. They must develop superior stakeholder satisfaction in order to be successful (Pearce & Robinson, 2009). They must have trust and open communication with their stakeholders, and must gain and

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