Posted on December 26,1: Stakeholder theory is one of the normative theories of business ethics, along with stockholder and social contract theories. Stakeholder theory offers managers framework for decision-making allowing executives to evaluate possible consequences of these decisions so as to provide an assessment tool for future decisions.
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. 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 Managerial stakeholder theory essay.
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 supplier 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.
Dec 26, · Stakeholder theory is one of the normative theories of business ethics, along with stockholder and social contract theories. This theory helps managers to evaluate interested parties of a business and its responsibilities to these parties, specify the . Managerial Stakeholder Theory To predict real-life phenomena we need theories. Similarly, stakeholder theory is a theory which is used to explain the phenomena of motivation for corporate social disclosures. Legitimacy Theory & Managerial branch of stakeholder theory case study. A+ grade work. Do in a formal business report form. Please refer to FAT_Template for report content page.
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.‘The stakeholder theory is “managerial” and recommends the attitudes, structures, and practices that, taken together, constitute a stakeholder management philosophy’ (Donaldson and Preston , p.
87). Stakeholder Theory is a widely undestood concept in Business today. Stakeholder theory states that the purpose of a business is to create value for stakeholders not just shareholders.
Business needs to consider customers, suppliers, employees, communities and shareholders. Stakeholder theory may be more conducive than shareholder theory to curbing company impropriety. The article presents a model of managerial stakeholder theory which addresses a conflict between managerialist and deterministic views by focusing on the issues of aggregate stakeholder.
Shareholder Vs Stakeholder Theory Management Essay. Print Reference this.
Disclaimer: Spence () writes that the Stakeholder Theory has emerged as an alternative for the Shareholder Theory of the firm. According to Freeman (), the term stakeholder can be traced back to management literature of when the term was defined as. Shareholder Theory vs Stakeholder Theory.
Print adds further that the though it may seem that managerial firms with stakeholder approach are more successful, they also are highly inefficient when it comes to a If you are the original writer of this essay and no longer wish to have the essay published on the UK Essays website then please.