Premium Essay

Stakeholder Analysis

In: Business and Management

Submitted By carico
Words 984
Pages 4
Stakeholder Analysis
Organizations must focus on purposeful communication to stakeholders to stay competitive in the marketplace. A critical aspect of sustaining success is built by committed leaders who have a solid foundation of listening, communication, trust, respect, and belief in the creative potential of each employee (Darling, Beebe, 2007). These assets are vital as Best Production determines and executes a solution to solve a business problem.
Best Productions Scenario

Best Production is a large video game company that develops new video games. They are working on a new video game for release during the holiday season, which is one-month away. Customers are anticipating the game’s release and the company expects to make a significant profit. Marketing displays have been in stores for weeks.
Pre-sales game reviewers found a bug in the software that affects game quality. The game can be played but the defect decreases the quality. This game is a sequel to several previous games, and customers expect the same quality gaming experience. Plans are underway to develop the next sequel. The company’s executives need to decide to either; ignore the bug and release the video game on time or delay the game’s release to January to fix the software defect.

Internal and External Stakeholders
Stakeholders are individuals or entities that have an interest in the organization. This can be internal stakeholders; employees, internal customers, or management. External stakeholders include; customers, financial providers, or other service providers (Stuart, Sarow, & Stuart, 2007). The internal stakeholders at Best Productions are: the company’s chief executive officer (CEO), developers, quality control, marketing, public relations, human resources, and finance. The external stakeholders are: customers, stockholders, suppliers, distributors, and...

Similar Documents

Premium Essay

Stakeholder Analysis

...Prison Corporation of America, which is growing fast in prison industry in the United States. Especially, immigration detention business has brought up massive profit for Private Prison of America. Therefore, corporation is planning to join other private prison corporations by making campaign donation and retaining lobbyist to draft and seek the passage of two laws about anti-illegal immigrant and the Intensive Probation Act that will increase opportunities to do business with the federal government. As a manager at Private Prison Corporation of America, I will conduct a stakeholder analysis to determine whether PPA should do it, and my analysis bases on the frameworks Managing for Stakeholders by Freeman, The social Responsibility of Business by Milton Friedman, Ethical Reasoning by Sucher, Five Traditionnal Theories of Moral Reasoning by Werhane, and How to make value count by Joel E. Urbany. The stakeholders of Private Prison Corporation are board of director, corrections officers, offenders, probation and parole officers. Those are employees in corporation. Another, government agency would contract with a provider to supply a service such as health care or programming for inmates. In general, the decision of corporation affects people in many different ways, so as a manager, I have to analyze carefully in order to make an appropriate decision. The first theory that I apply to analyze, is Milton Friedman’ article. Friedman said that the business would be to make......

Words: 1344 - Pages: 6

Premium Essay

Stakeholder Analysis

...Team Project: “LIFE CYCLE PROJECT DEVELOPMENT” Stakeholder Analysis |   |   |   | Team Number: Team 4 | Stakeholder | Internal or External I or E | Affected by Project H, M, L | Priority H, M, L | Stakeholder Objectives and/or Expectations | Influence on Project H, M, L | Positive(P) and/or Negative(N) Impact(s) to Project | Action Steps to Establish, Maintain, and Nuture Relationship | New Customers | E | H | H | Expects a new mountain bike that fulfills their needs and wants. | H | P (Learning about their expectations can help us build a product that meets their needs.) | Conduct market research in the form of surveys and focus group interviews to ensure that the bike meets their needs. | Existing Customers | E | M | H | Needs may already be fulfilled with the existing line of road bikes, but could be in the market for a mountain bike as well. | H | P/N (Some customers may be satisfied with the existing line and may not care about the new line of mountain bikes.) | Conduct market research in the form of surveys and focus group interviews to ensure that the bike meets their needs. | Competitors | E | H | H | Will want the project to fail to maintain their share of the mountain bike industry. | L | N (Competitors could redesign their existing mountain bike models or introduce new ones in response.) | Monitor their product offerings to ensure that no competitors are offering products or services that would out perform our own. | Owner | I | H | H |......

Words: 1169 - Pages: 5

Premium Essay

Stakeholder Analysis

...fun. Therefore, a large company like LG Electronics can have a great impact on the society and has many stakeholders. The internal ones include directors/managers, employees and shareholders. Suppliers, customers, NGO/ International organizations, community and local government are external stakeholders. Directors/managers Directors and managers are the ones that run the business. They aim to maximize their own benefits, such as higher salary and annual bonus. Thus, they try their best to improve the corporate values. Shareholders By the end of 2012, the number of shareholders of LG Electronics was 201,161. Shareholders are powerful stakeholders because they invest their money into the business. As the owners of the business, they aim to maximize the profit. They are hoping for a disclosure of transparent management information as well as more dividends. It is stated in the mission statement that the company wants to deliver innovative products. Without re-investing profit into the business, new products may not be invented. However, shareholders tend to share the profit immediately, which conflicts with the mission statement. LG Electronics communicate with the shareholders through different ways, including holding a general shareholders’ meeting, having a performance presentation and publishing a business report. Employees Another important internal stakeholder group is employees. As of December 31, 2012, LG Electronics has 86,697 employees in total, with 36,378......

Words: 601 - Pages: 3

Free Essay

Stakeholder Analysis

...STAKEHOLDER ANALYSIS UNIVERSITY July 14, 2014 Stakeholders are a powerful force in business from both an economic and societal point of view. “Stakeholder theory is a theory of organizational management and ethics.” (Phillips, 2003) Stakeholders are the individuals, groups, and organizations who can affect the firm’s vision and mission, are affected by the strategic outcomes achieved, and have enforceable claims on the firm’s performance.” (Hitt, Page 19) “Stakeholders can include employees, customers, owners/investor groups, suppliers, unions, professional /industry associations, government, community neighbors, NGOs, educational institutions, neighbors, the media and so on.” (Fowler, 2014) Managing for stakeholders involves attention to more than simply maximizing shareholders. It is not an excuse for managerial opportunism. Stakeholder Theory does not require changes to current laws; it is not a theory of socialism; it is not a comprehensive moral doctrine; and it is not applicable only to corporations. (Phillips, Page 484) An organization in return have a dependency relationship with its stakeholders. The more critical and valued a stakeholder’s participation, the greater a firm’s dependency becomes. They continue to support an organization when the firm’s meets or exceeds their expectations. Both, the organization and the stakeholders have responsibilities towards each other in their own interest. “It is important to gain feedback from a variety of stake holders.......

Words: 1755 - Pages: 8

Premium Essay

Stakeholder Analysis Cvs Health

...Stakeholder Analysis; CVS Health Inside CVS Health, there are many stakeholders that come into play and are effected by the new change. The employees, customers and clients, suppliers and venders, investors, and local communities, are the stakeholders that are involved with and are close to CVS Health. CVS Health believes that staying close and involving their stakeholders to their CSR strategy, will help them be successful. Having employees that help contribute to the purpose that CVS Health stands for, helps the consumers get on a path to better health, and also contributes to the local communities outside of work. I am going to select ‘employees’ as the stakeholder for this analysis. Employees are affected as stakeholders in terms of their economic well-being. Employees share a concern in terms of pay and benefits. Depending on what type of pay and benefits are offered, will in turn determine what kind of employees the company will have. When employees have this additional stake in the company, it motivates and inspires them to do and be more. Job security is one of the things employees look for when finding a job. Is the company making business decisions that can threat the jobs of the employees? Long term security is what employees need. I believe that these claims are legitimate, employees want to be treated right inside of a company. With pay, benefits and compensation packages, job stability and the room to grow and thrive inside the workplace. It...

Words: 700 - Pages: 3

Premium Essay

Stakeholder Analysis: a Reference

...Title Stakeholder mapping for effective risk assessment and communication Author(s) / Address (es) Jane Gilmour and Ruth Beilin, University of Melbourne Material Type and Status (Internal draft, Final Technical or Project report, Manuscript, Manual, Software) Project final report Summary The aim of the report was to review and evaluate methods for stakeholder mapping. The report intended to explore applications in biosecurity risk management, and to recommend potentially fruitful direction for testing methods that might improve the efficiency of stakeholder interactions. The report reviews a range of options and outlines in detail the definition and identification of stakeholders, and procedures for mapping influence and interest. It uses a workshop run by ACERA on volume of trade to illustrate the basic features of these methods. The report concludes by discussing the merits and weaknesses of the mapping approaches. It recommends their use to improve the efficiency of interactions and to improve transparency of process. ACERA Use only ACERA Use only ACERA Use only Received By: ACERA / AMSI SAC Approval: ACERA / AMSI SAC Approval: Date: Date: Date: Australian Centre of Excellence for Risk Analysis Page 1 of 55 Stakeholder mapping for effective risk assessment and communication; ACERA Project 06/09 Dr Jane Gilmour; ACERA Associate Professor Ruth Beilin, University of Melbourne Review; April 2007 Australian Centre of Excellence for Risk......

Words: 19867 - Pages: 80

Free Essay

O'Reilly Auto Parts Stakeholder Analysis

...Auto Parts Stakeholder Analysis Amanda Gilreath BUAD 4000 University of Colorado, Colorado Springs 06/02/2014 Professor Van Scotter O’Reilly Auto Parts Stakeholder Analysis Being one of Fortune 500’s dominating corporations in the United States, O’Reilly Auto Parts influences a large amount of people and groups. These influences affect primary stakeholders who are entities and individuals that are immediately and directly influenced, and secondary stakeholders who are entities and individuals that are affected less immediately and in sometimes a more trivial manner. Although these effects may be small or large, it is imperative that O’Reilly Auto Parts considers its influence over the well being of all stakeholders, as its actions are proprietary to its subordinate’s obtainment of benefit or burden. Generally corporations focus on its primary stakeholders because they are the most noticeable and affected. However, it is myopic for a corporation to ignore or act in reluctance to its secondary stakeholders in naivety of the actual ripple that its action may cause. This is why stakeholder consideration and action is becoming a more ascendant quality of corporations. The analysis of four O’Reilly Auto Parts stakeholders will be discussed in this paper, each with its own synopsis of this corporations attempt to perpetuate its positive influence, and/or its failure to do so in particular areas. The stakeholders analyzed are customers, a primary stakeholder, and future...

Words: 1388 - Pages: 6

Free Essay

Approaches to Stakeholders' Impact Analysis

...Cheng Ly CheckPoint: Approaches to Stakeholder Impact Analysis The way that I would probably conduct a stakeholder’s impact analysis of scenario 1 on appendix B using the moral standard is to be in favor of building the mall and resort. In the moral standards approach, the decision should be based on the benefit rather than the profitability. And to make the decision in favor the building the mall and resort will benefit a lot more people than keeping the nursing home. If I were to make the decision based on the 5-question approach, I would go through the questions one and one and answer them and this would also be in favor of building the mall and resort. The first question is whether the decision will be profitable, and I would say yes, definitely. Is the legal to build the mall? The answer is yes, there is nothing illegal about buying out the nursing home and building the mall there. Is it fair? The answer to this is would be no, because it isn’t fair to the senior citizens living in the nursing home. Is the decision right? On this question, I would not be sure whether to answer yes or no, because it can be right if we would like to bring profitable to the whole community. And the last question is the decision going to further sustainable development? And I would have to say yes, because there would be more money, which in turn can be used to build another nursing home and seniors’ recreation center, or buy out another property or land. Under the Pastin approach,...

Words: 312 - Pages: 2

Premium Essay

Psc 495 Stakeholder Analysis Summary

...PSC 495 Stakeholder Analysis Summary Click Link Below To Buy: http://hwcampus.com/shop/psc-495-stakeholder-analysis-summary/ The purpose of this assignment is to identify key stakeholders within your organization who are affected by, have influence over, or have an interest in solving the problem you are attempting to address with your action research project. Stakeholder analysis requires you to examine a number of variables in relation to each individual or group you have identified. Use the "Stakeholder Analysis" spreadsheet to record the results of the stakeholder analysis. In the analysis, list titles and groups of stakeholders. Do not list names of specific individuals. It is important to note the role each stakeholder has in the problem and solving it. Determine whether or not the individual or group has a negative, indifferent, positive, or very positive predisposition about the problem. Within the "Stakeholder Analysis" spreadsheet is a tab labeled "Current-State Matrix." Study the terminology related to influence and support and think about how each block describes the feelings a stakeholder may have about the problem and proposed solution. For example, there may be a group or individual that has a high degree of support in regard to solving the problem. If you know that person or group also has a high level of influence in how the problem is solved, it is important to think about how you will approach this person or group in terms of seeking......

Words: 595 - Pages: 3

Free Essay

Stakeholder Analysis

...Stakeholder Analysis Brittany Collins Dr. Richardson Public Policy Analysis and Plan 11.7.13 Introduction This paper provides a comprehensive stakeholder analysis of the affordable medical care policy change. The policy change has triggered multiple debates across the United States of America earning the name ObamaCare due to the president’s commitment to see the policy implemented. An argumentation analysis is provided identifying the different contending positions as well as assumptions. Moreover, an argument map of the issue is also developed. It is pertinent to note that the policy issue affects stakeholders across different industries of the economy in a multidimensional approach. Medical care policy The Obama care health care policy has had wide opinions among various stakeholders in the US. While there are those who support the policy, there are also those who feel that the policy will be difficult to implement and will leave many people without the ability to access basic medical care. However, there is need to analyses the medical care policy and the different opinions that are given to analyses the suitability of the policy (Doolittle, 2013). The policy was laid down as an alternative to provision of cheaper healthcare to the people. Critics of the policy have argued that the citizens are the ultimate stakeholders in this policy; however, there are other key stakeholders involved. These stakeholders include key players in the insurance sector;......

Words: 1670 - Pages: 7

Premium Essay

Enron’s Stakeholder Impact Case Analysis

... Enron is suddenly faced with a corporate crisis in the form of a scandal. This scandal involves not only Enron’s accounting practices but also its corporate governance and culture (Lawrence & Weber, 2008). This report will recommend some potential strategies for Enron to move forward from the scandal. To do this, we must incorporate stakeholder theory, which “argues that corporations serve a broad public purpose; to create value for society” (Lawrence & Weber, 2014, p 6.). This means that Enron must take responsibility for the scandal it created and take actions to regain its stakeholders’ confidence. To accomplish this, we will first identify and analyze Enron’s primary stakeholders, and then point out the key problems along with possible solutions. Finally, we will end the analysis with the best solutions that Enron should enact. Primary Stakeholders: The three most salient stakeholders are Enron’s shareholders, employees, and the government. We choose these three based on their interests, power, relevance, likelihood to form coalitions, and also due to the legitimacy and urgency of their claims. The first important stakeholder is none other than Enron’s shareholders. The owners of Enron invested their money relying on Enron’s false financial statements, only to lose billions of dollars. They are likely to form coalitions and engage in shareholder activism. In fact, they have the legal power to carry out shareholder lawsuits. The legitimacy of their actions......

Words: 1727 - Pages: 7

Free Essay

Stakeholder Analysis

...HMGT 300 6383 Introduction to the U.S. Health Care Sector (2162) Lakendra Williams Stakeholder Analysis Professor Scott Burleson January 24, 2016 The stakeholder organization that I chose was Alzheimer’s Association. The association started in 1980 and had been in business for over 30 years. The association is a the largest nonprofit, health organization that provides support for people that may be dealing with the disease and their loved ones. The Alzheimer’s Association works on a global, and national level to fund research to find a cure for the disease. The disease can affect people that are 40 and up with 40's being and early onset of the disease. “As the largest nonprofit funder of Alzheimer's research, the Association is committed to accelerating the global progress of new treatments, preventions and ultimately, a cure. (Alz.org 2016)”. The mission of the Alzheimer's Association is: "To eliminate Alzheimer's disease through the advancement of research; to provide and enhance care and support for all affected, and to reduce the risk of dementia through the promotion of brain health (Alz.org 2016) Alzheimer's disease comes in three different stages. After being diagnosed with the disease, it seems that people only live a few years after the diagnosis. Having an association that fights for and advocate for those with Alzheimer’s will eventually help millions of people. “(The Alzheimer’s Association host ...

Words: 999 - Pages: 4

Premium Essay

Miami School District Negotiation

...evaluating these boundaries. The affected stakeholders are experiencing concerns. One must first identify the stakeholders and their concerns before he or she can establish each of the concerns. Choosing a strategy for negotiation and reviewing the ethics and culture effects will ensure that the negotiation approach is applicable for the circumstances. In this paper the subject to analyze is a negotiation strategy that favors the board’s requirement to redraw school boundaries, identification of the stakeholders and how culture, and ethics affect the strategy. Stakeholders To originate an efficient negotiation strategy, one must identify the stakeholders and stakeholders concerns. The stakeholders in the Miami School District project are the students, parents, teachers, and school staff, and the community. The students are primary stakeholders because students who change schools will encounter a new teachers, campus, and classmates. Students will depart from the comfort of familiarity. The parents will experience the effects of a new environment for their children, and a different location of the new school. Teachers and staff will experience class sizes caused by the redistribution of students. The community would experience such effects as the influence of property value because of school boundaries. The community could experience this effect whether or not the community will have students in the school district. Stakeholders Concerns The school board will......

Words: 1557 - Pages: 7

Free Essay

Mattel

...procedures violating consumers right to safety. As a result millions of children are in harm’s way and are susceptible to life-altering health risks. Having a lack of regulation on imported toys has resulted in high levels of lead paint and loose magnets. Government regulation or a lack of government regulation has also caused many companies aside from Mattel to cut corners and look more at the bottom line as opposed to the safety of consumers. According to Lawrence and Weber, stakeholder theory “argues that corporations serve a broad public purpose; to create value for society”. It can be assumed Mattel was acting unethically with regards to producing unsafe products for their consumers; as a result, devaluing our society in terms of safety. Within the Mattel case the primary stakeholders, individuals who directly benefit from the corporations activity, are the parents and their children. As primary stakeholders they were affected by Mattel’s lack of management and poor product design. Secondary stakeholders, toy retail stores, argued that they were not liable for...

Words: 1166 - Pages: 5

Premium Essay

Stakeholder Analysis

...Stakeholder analysis by Mohamed A. Abdrabo and Mahmoud A. Hassaan CEDARE 1. Objectives: 1.1 This document intends to provide background information on stakeholder analysis in terms of definitions, objective, need for conducting stakeholder analysis. 1.2 Also, the document aims to provide a systematic approach for conducting a stakeholder analysis within the framework of Wadi Project. 2. Background 2.1 Public issues in general and environmental ones in particular, can affect and get affected by a wide range of groups, bodies and/or individuals. Accordingly, involvement of such groups, bodies and/or individuals may assist in making more informed decisions and increase their potential for success. Furthermore, as the number of such groups, bodies and/or individuals is usually very large, they cannot all be considered for inclusion in such consultation process. Accordingly, a selection process needs to be carried out to identify the most important interest groups to be incorporated in such consultation process. The main criteria employed to prioritize interest groups may include interests, attitude, power and/or influence of such groups which may vary considerably from one party to another. 1.2 It is worth mentioning that stakeholders refer to actors (persons or organizations) with a vested interest in the decision or policy being promoted. 1.3. The main Objective of stakeholder analysis: is to identify the key people who have to be taken into consideration when......

Words: 1324 - Pages: 6