Stakeholder Management Theory

 

 

 

 Executive summary

The most important aspect of the functionality of any company includes the stakeholders. The stakeholders include the individuals that form the most important part of the operations of any given company. In the case used in the paper, the stakeholders include the 980 employees and their respective communities, the American customers and the management of the company. Others include the new corporation that has the urge to making the company expand the operations to the developing countries. The above groups have a great influence on the success of the objectives of the company. The company also acts as a stakeholder towards its customers, employees and the management. The company should act in such a manner that would satisfy the needs and interests of its stakeholder portfolio.
Stakeholder analysis of the company

When looking at the company from the traditional perspective, different groups have connections to the functionality of the company. Therefore, the groups involved play an important role to enhance the success of the operations found in the company. The company and the stakeholders play a mutual role towards one another since it has to increase the status of value towards them. The most important stakeholders found in the company include the customers, employees, suppliers, and management and investment groups. Others would include the government, political bodies, trade groups and unions. The operations of the company revolve around communities that it uses as a platform to sell its garments. The communities provide both the employees and the customers when it comes to the operations of the company. The garment company uses the communities as its strength to achieve its various goals. Therefore, the primary stakeholders include the communities that act as a bridge between the customers and the employees.
The secondary stakeholders include the competitors of the company. The competitors in most cases provide a platform for the garment company to come up with innovative strategies to come up with new products. The competitors act as secondary stakeholders since they influence the garment company from the external environment. They offer the company with a platform to develop functional strategies that boost the development of the company (Friedman and Samantha, 2002). The new corporation also acts as a secondary stakeholder since it comes from outside to influence the operations of the company to boost its market niche with new strategies. Other secondary stakeholders include the proposed developing countries that would offer new markets to the garments (Jeans). The stakeholders of the garment company revolve around the resource based perception and the market-based perception. The socio-political perspective may also act as an influencing factor to the garment company due to the role the government and the unions play towards its operations.
The stakeholder analysis assists the managers through the promotion of strategies that enables the company to adopt to its different market. It also enables the company to analyse ways through which to influence the stakeholders in the company and its external environment. The decision making of the company operates around the management. They use the information from their stakeholders to come up with good strategies that enable them to succeed in the market. The company has good sales of its products in the American market through the communities that it focuses on selling its products. The company should develop a good understanding of the communities so as to attract them to purchase their products.
Recommendations and Conclusion

By satisfying the needs of the communities, the company develops a good remuneration and benefits policy that provides employees with equal opportunities. The company also uses its position to provide the quality working environment that enables the community to serve their financial needs and interests. The company should also come up with new projects that develop the status of the communities. The projects would occur in the manner of corporate social responsibilities (Duckworth et al., 2010). The communities that act as customers and employees may perceive that the company cares for the needs of the society. The perception would make them have a good relationship with the operation of the company. The government comes up with policies concerning the operations of the companies found in its boundaries. The company should obey the laws and regulations developed by the Senate and other governmental bodies. The garment company has a role to play towards ensuring that it follows the rules and regulations that have influence towards its operations.

It should enable its customers to act in a manner that relates to the laws and regulations found in the country. The financier/investors also enable the success of the company. Therefore, the garment company should come up with realistic strategies that allow the usage of little revenues to generate the huge amount of profits and revenues. Through the strategies, the investors/financiers would see that the company uses its resources in a good manner. For the company to boost its operation, it should market its products through the social media and other sources of information. The media would enable the company reach a wide market both in the developed and developing countries.
References

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Duckworth, Holly Alison; Moore, Rosemond Ann (2010). Social Responsibility: Failure Mode Effects and Analysis. p. 10. ISBN 1439803749.

Friedman, Andrew L.; Miles, Samantha (2002). “Developing Stakeholder Theory”. Journal of Management Studies 39 (1): 1–21. Doi: 10.1111/1467-6486.00280.