BRICK

Brick Industry

Brick Industry

Introduction

The brick industry is diverse and involves a number of stakeholders, because of the nature of the projects; managers have to engage with multiple stakeholders. The brick industry is directly related to the construction industry. The progress in the industry is bound to have positive effects as the demand for brick rises. The positive effects include improved communication, improved and higher degree of living standards, etc. Nonetheless, brick projects are prone to bring in a variety of levels of changes and declensions which needs through management of the relationship with stakeholder. Considering the brick industry in the state of art practices of managing stakeholder, there are certain strategies and tactics, which are involved in order to assure success. Stakeholders are an important part of business and their interests need to be looked at in order to make sure that the operations run smooth. Stakeholders are affected directly by the business.

Stake holder Theory and Illustrations

Once the stakeholders are identified and assessed with accuracy and keen observation, the potential effect of the stakeholder is also realized, the need to manage the stakeholder arises, and in order to meet these needs, different strategies, approaches and tactics are developed to deal with the stakeholder. There is a need for companies to acknowledge that the prime concentration of studying any kind of relationships related to organizations is the foundation, maintenance, management, and development of relationships between exchange partners (Cannon & Perreault, 1999, p.439-460). The concept of stakeholder and stakeholder theory can be considered to be dependent on the firm's action on the interests of a wide array of stakeholder, which includes customers, suppliers, shareholders, managers, employees, etc. In this case, each stakeholder has certain right to control the firm, so the concept requires the decision-making with regard to their interests (Donaldson, 1995, pp. 65-91). The systemic concept of the enterprise can be considered as a starting point for describing the strategic companies, because none of these concepts is in its pure form and are not a scheme for the analysis, relevant to the real situation and role of business in any economy. Practical application of the theory of stakeholder associated with the use of models is used for the analysis of stakeholder and their relationship with the firm (Miles, 2011).

As stakeholders include it alongside the owners such as; shareholders, members of the employee up to the managers, the customer or lessee advantage (e.g. demand for quality and reliability), the supplier that capital markets including lenders, and the state e.g. the right to tax money, the environment), the natural which include raw material supplier, recording system for waste, and the public political parties, associations, churches, and media (Donaldson, 1995, pp. 65-91). Stakeholder approach investigates that the company has in its decision that noted several factors, not only the shareholders but, shareholder approach and also the public, government, and environmental organizations and employees that take account of their interests. If no such conflict of interests can be found, there are often no conflict, but ...