Reference no: EM131162799
PLEASE REBUTTAL, RESPOND AND ANSWER EACH OF THE FOLLOWING QUESTIONS OR POST STATEMENTS. MUST BE 150 WORDS (PLEASE), WRITE IN 3RD PERSON. ONLY ONE REFERENCE CAN BE USED FOR EACH ANSWER.
DQ 1. Thanks for sharing. You mention in your post the idea of stakeholders need to play their part in achieving the goals of the organization. That has me thinking about what is shared in Chapter 2 related to issue management and how the leader shouldn't assume they know what is important to the stakeholder. For the leader to actively find out what the stakeholder thinks is most important connects to what a leader may see as the issues. I would love for you to share strategies that a leader may utilize to find out what is important to stakeholders.
DQ 2. In most cases it would be more productive for a company to establish a relationship with stakeholders, but there are several occasions where it would make more sense for an organization to not develop a relationship with these individuals. For example, if a certain group of stakeholders has a different set of values than organizational stakeholders there could be issues. As Boutelle (2004) notes, "Focusing on business stakeholders and their goals is important for creating successful designs. However, an exclusive focus on business stakeholders could lead to problems-producing a design that does not meet user needs, or is not technically feasible" (para. 8). The key is developing carefully crafted partnerships that are mutually beneficial to both parties to ensure that an organization can complete its mission, while all stakeholders are willing to go along with the plan. This is significant because in today's technology driven social media age a project can be killed before it even gets started by stakeholders that can mobilize large bodies through a single tweet.
Boutelle, J. (2004). Understanding stakeholders for design success.
DQ 3. In developing a relationship between an organization and its stakeholders might be counterproductive if the stakeholders do not have a vested interest in the organization. If the manager has not established a positive and trusting relationship the stakeholders may not be supportive in the decision making. If there is any element of shady business practices and or negative media reports on the organization this could lead to that relationship becoming counterproductive.
The most significant consequences of not developing a relationship with the stakeholders if a negative event occurs and the organization doesn't have a positive and trusting relationship established, the organization will not have the support of those stakeholders. Many organizations understand the importance of having a good reputation and if that comes under question you need the support of the stakeholders. Also, it is important to have stakeholders that value the organization and this is where the manager's role is important. If a mutually positive relationship isn't established and there is no repore with the stakeholders the result could prove to be counterproductive.
In the case of McDonald's addressing the concerns of stakeholders in regards to animal rights, the stakeholders had a relationship with the organization and knew that their concerns would be heard and addressed. McDonald's is highly reputable organization and they do have high identified stakeholders. This is a company that took pride in customer service and the quality of their products. When this event occurred McDonald's had a positive reputation and took pride in the communities they served. In this instance they received more support when they were challenged about animal rights because the stakeholders valued the relationship they had.
In a research article by Zavyalova, A. 2016 the authors did a study on whether or not an organizations reputation can be a benefit or a burden. A company such as McDonald's has a high reputation and a high-identification stakeholder support. Therefore, it is important to have this type of stakeholders especially when a negative event occurs. On the other hand if this organization had a low identification stakeholder the outcome would have been different.
These consequences are important to an organization significantly, because the reputation is a priority and because of the goodwill and the stock capital it receives. The idea is to establish a positive relationship with the stakeholders internal and externally, which will help to conceptualize the public and social approval of society and the community.
References
Lawrence, A. T., & Weber, J. (2014). Business and society: Stakeholders, ethics, public policy (14th ed.). New York, NY: McGraw-Hill/Irwin. ISBN-13: 9780078029479. Retrieved from https://gcumedia.com/digital-resources/mcgraw-hill/2014/business-and-society_stakeholders-ethics-public-policy_ebook_14e.php
ZAVYALOVA, A., PFARRER, M. D., REGER, R. K., & HUBBARD, T. D. (2016). Reputation as a benefit and a burden? how stakeholders' organizational identification affects the role of reputation