The concept of stakeholder management Essay Example | Topics and Well Written Essays - 1000 words

The concept of stakeholder management - Essay ExampleTo continue the role of stakeholders in governance analysis, the concept of stakeholder management was created. The challenge of stakeholder management, then, is to see to it that the organizations primary stakeholders achieve their objectives and that former(a) stakeholders are dealt with ethically and are also satisfied. This is the classic win-win situation. It does not always occur, but it is a ordered goal for management to pursue to protect its long-term self-interests. Managements second-best alternative is to meet the goals of its primary stakeholders, holding in mind the burning(prenominal) role of its owner investors. Without economic viability, all other stakeholders interests are lost. Thus, the important functions of stakeholder management are to describe, to understand, to analyze, and, finally, to manage.ReferenceBuchholtz, A., & Carroll, A. (1999). Business and society Ethics and stakeholder management. US South -Western Educational