Society in relation to stakeholder theory essay

Development[ edit ] Numerous articles and books written on stakeholder theory generally credit Freeman as the "father of stakeholder theory. A Stakeholder Approach is widely cited in the field as being the foundation of stakeholder theory, although Freeman himself credits several bodies of literature in the development of his approach, including strategic managementcorporate planningsystems theoryorganization theoryand corporate social responsibility.

Society in relation to stakeholder theory essay

Introduction — Organisation background Part B: Suggestion on how to develop and maintain the relationship with identified stakeholders 1. Have a direct dialog 2. Provide variety of monitoring method 3.

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Organise activity to develop interest of stakeholder Part E: This company was founded on 26th December and began commercial operation in The products offered are of various type of local food and western food that has been upgrade as a frozen food to fulfil the customers need.

This business was inspired by former curry puffs maker that doing business in small scale, after getting guidance from FAMA on frozen food processing and technical advice in this process, it has been commercialise to support food market business. This product has been supply to allHypermarket, Mini Market and also to the cafeteria around Negeri Sembilan.

Now this company are planning to expand their business worldwide through Small Medium Enterprise under guidance of government. To become the pioneer in the food and beverage industry through our high quality food and beverage variety as well as superior customer service.

To select, retain and educate a highly skilled, motivated and responsive staff for the growth of the organization and the nation. To meet all challenges with dedication and commitment and to set standards that other will strive to emulate.

To become 1st Halal food Society in relation to stakeholder theory essay that will be recognise worldwide. Some examples of key stakeholders are creditors, directors, employees, government and its agenciesowners shareholderssuppliers, unions, and the community from which the business draws its resources.

Supplier A party that supplies goods or services. A supplier may be distinguished from a contractor or subcontractor, who commonly adds specialized input to deliverables. Also called as vendor.

To ensure that there is enough ingredient for production to run. It is important to ensure that the supply will be available on time. For that the reliability of the contract and guaranteed of payment within stipulated period should be given priority.

It will ensure that the ingredient will be supply as per quality requirement and reduce the market price from fluctuation. By signing a contract, they are bound to fulfil to the company quality and standard requirement to ensure that this problem will not affect our productivity and it also it will help to ensure there is no contract fraud occurs.

With good supplier we can maintain our quality and productivity. In the meantime the confidence should be planted so that the quality of materials is maintained.

Customer A party that receives or consumes products goods or services and has the ability to choose between different products and suppliers. It show that the important role as a major stakeholder and give big influence in our market. Their exclusive power will influence local community. Therefore it is important to get their attention and to gain their trust.

It is important to ensure the quality and variety of food accordance with international food standards set by the Ministry of Health Malaysia and Good Manufacturing Product GMP.

It will help to gain customer confidence in our product quality. It will also help to promote our product variety. When we can met this requirement. Employer A legal entity that controls and directs a servant or worker under an express or implied contract of employment and pays or is obligated to pay him or her salary or wages in compensation.

They are the assets of our productivity in daily operation. Therefore, any change of policy or management will be affecting the performance of company.

Society in relation to stakeholder theory essay

Proper planning and benefit to gain interest of the employee will help to gain productivity. It is important to get cooperation from employee in order to achieve our mission. Proper arrangement man power according to working hour provided will help them to give full commitment in their work.

Without proper planning there will be wasting of time. Therefore employee welfare should be taken care. Most of employee are having a family, so one aspect that always been taking care by every company is medical coverage for the family.

It also will help productivity and maintain the productivity since everyone can cover other works without affecting the productivity. Local community The factory has been built in the industrial area that has good environment and proper access.Stakeholder theory has a number of strengths and weaknesses in its capacity to address issues of low-wage work.

Classifying a group as a stakeholder has moral import (Phillips, , ; Cragg, ) and significant outcomes (Greenwood and Anderson, ) which means that the classifying the stakeholder can ensure that their problems can be.

Before it was thought that business and ethics were an oxymoron, two terms that could never coexist together in our society, however this video on Stakeholder Theory has proven otherwise.

The video talked about various ideas/topics concerning Stakeholder Theory from what is a stakeholder to the effects of technology in our fast paced society today.

Stakeholder theory also addresses one of the most important questions facing our economy: what is the role of a corporation in a modern capitalistic society? There are two primary theories of. Human Relation Theory In Public Administration A relationship has been playing an important role in our society because it provides a new way of interacting whenever it seeks to accomplish certain tasks.

Human Relation Theory In Public Administration (Essay Sample) February 8, by human relation plays an important role to ensure. The Shareholder And Stakeholder Theory Management Essay. Print Reference this.

Business and Society Essay Sample

Disclaimer: The issue whether managers should apply shareholder theory or stakeholder theory is opens for debate. Some theorists believe that maximize shareholder profit is the highest objective of firm.

Take a look at what our essay writing service can do. Stakeholder theory may be more conducive than shareholder theory to curbing company impropriety.

The Shareholders vs. Stakeholders Debate Magazine: Summer Research Feature July 15, Reading Time: “The Effect of CEO Tenure on the Relation Between Firm Performance and Turnover,” Journal of Financial Research 23, no. 3 (fall.

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