MODELING STAKEHOLDERS

Modeling stakeholders



Modeling Stakeholder Relationships

Introduction

There are two types of stakeholder in an organization. Internal and external stakeholders the organization has to provide information to these stakeholders, although the information is much related and not comprehensive because they required some sort of information they could not get all internal information that a manager or other high management may have (O'Brien, 1999, pp. 45). They could be explained as a person or group which has a legitimate interest in the course or outcome of a process or project, especially in an economic sense. In the public relations and marketing is slowly through the concept of stakeholders. Internal stakeholders are employees and shareholders; the external is government and other media bodies. The principle of the stakeholders is also the basis and the expansion of the business common shareholder-value approach.

According to O'Brien (1999), In contrast to shareholder value principle, the needs and expectations of an organization such as shareholders in a corporation is the centre of attention, the principle of trying stakeholders, the organization throughout its socio-economic context and reconcile the needs of different stakeholders in line (p. 42). As an extension to the customer relationship management (CRM), this deals only with the relations of an organization to its customers and provide the information of who much they have been contributed in the organization, the time of relationship among customer and organization and providing how they can be benefited by the organization. The principle of stakeholder relationship management (SRM) more clearly, as it tries to develop relations of the organization to all, or to bring its key stakeholders in line by providing comprehensive and related information to the stakeholders (O'Brien, 1999, pp. 49). This is called "incentive-contribution balance" between the endogenous uncertainty environment (suppliers, trade, consumer, etc.) and exogenous uncertainties (socio-cultural, political, legal, technological, and environmental) to the organization. This customer relationship management and stakeholder relationship management is the example of providing information to them that is required by them (Adebayo, 2007, pp. 774). Organizations have understood that providing information to the stakeholders is necessary especially to employees and customers so they may take information in the organization. This paper provides a brief overview of the model the interactions between the University of British Columbia's internal business units and its stakeholders.

Discussion

University of British Colombia Internal Stakeholders

Faculty as Stakeholders

They may require there complete performance in the organization and their growth rate according to the profit of the organization.

Marketing Manager

The quality of marketing decisions of the University of British Colombia depends in large part on the information available to the person making marketing decisions. The role of market research is to provide this information for decision making. A marketing manager who does not know how to use or evaluate market research is like a general manager who does not understand the statement of retained earnings of the organization. Both individuals are severely limited in their ability to perform their jobs effectively.

Advertising campaigns, indoor outdoor marketing, ATL (above the line) BTL (Below the Line) activities and ...