RUNNINGHEAD: STAKEHOLDERS IN AN ORGANIZATION

STAKEHOLDERS IN AN ORGANIZATION

Organizations that treat their stakeholders in a fair and equitable manner and that strive to meet their reasonable expectations are likely to experience high levels of performance. Critically discuss.

Introduction

Stakeholders are the basis of the acceptance of sustainable development. In a way, development is as sustainable when it meets the needs of stakeholders. Rather than a development based on the offer which is the major disadvantage of removing the citizen consumer, sustainability invites us to consider needs of meaning, usefulness, quality, ethics, respect, values, controlling the impacts are all examples of manifestations of these expectations (Baker, 2004, pp.56-61). It suggests something that is better for an organization, its stakeholders to query, identify, and validate the evolution of these needs. Some speak of the empowerment of citizens on the consumer; others speak of participation essential to changing patterns of production and consumption (Conner, 2003, pp. 135-142). Origins of the Stakeholder Theory The role of the company, its executives, and the nature of their obligations and responsibilities to the environment (society) are the subject of an old debate. This is not the only one to have a stake in the company. What is "in play" ("at stake") can only be the satisfaction of the shareholder. For the organization, other utility issues appear equally strategic. However, at this period, the obligations to stakeholders are similar to the constraints to business objectives (Figge & Schaltegger, 2000, pp. 67-79).

The stakeholder is therefore someone whose use is at stake and therefore has an interest in the weal and woe of this mission. In a figurative sense, "stakeholders" but today used not only for people who have actually made a bet, but for anyone who has an interest in the course or outcome of a process or project, at first seemingly innocent bystanders such as customers or employees (Bennis, 2002, pp. 102-105).

Not an all aspects of the term “stakeholder” comprehensive expression of German origin exist in the literature. Used approximations are right carrier, interested and affected parties, interested parties and projects project operator and project stakeholders. The term stakeholder is truly popularized by the work of Freeman, giving a broader definition, takes the concept of Stakeholder Theory to take on even more importance. It is noted that the considerable broadening of the spectrum of stakeholders of the company led the promoters of the concept of Stakeholder Theory to justify the theoretical relevance. Legitimacy and power are the foundations of the stakeholder theory; definitions of stakeholders behind notions of legitimacy and authority are therefore the main question of the speaker. Identify the stakeholder who has returned to identify its power (Carrol & Reichheld, 2002, pp. 47-61). It is legitimate because it has. For simplicity, we consider here two definitions of stakeholders. The first - that of Freeman - marks the expansion of the spectrum of stakeholders of the company whose effect is to break the metaphorical approach of stakeholders. The second gives a managerial and strategic dimension by placing this theory in ...