STAKEHOLDERS

Examining the connections between stakeholder claims and the product market

[Name of the Institute]

Examining the connections between stakeholder claims and the product market

In this paper, we are going to explore the specifications and relevant sources used in stakeholder management, in earlier work. These sources will be discussed in relation with their authenticity and relevance with the topic of the description which hold a comparative analysis between the construction industry and the automobile industry in terms of the highest degree of practices including the identification of the stakeholders, constructing healthy relationship with the stakeholders by effective communication and easy management. In the other section of this paper, I will present an outline of earlier work on the same topic.

Resources

Carroll, A.B. & A.K. Bucholtz (2006), Business and Society: Ethics and Stakeholder Management, 6th ed. Cincinnati, OH: Southwestern College Publishing/Thompson, pp.48-53.

The study of Carroll and Bucholtz highlights the significance of stakeholder's management form the theoretical concepts of establishment to the professional and practical implication s. Their study is relevant to our topic as the book presents a review of the literature on the stakeholder theory. In particular, it is to examine the usefulness of this latest approach to strategic management. The stakeholder theory is indeed the subject of increasing attention in management literature and is at the heart of debates dealing with the role of business in society. It encompasses a set of proposals suggesting that managers have ethical obligations to their stakeholders. This term stakeholder appeared in the sixties, but its origins go back to work of Dodd (1932) and Barnard (1938). The theory is still under development, this which may explain the existence of controversies concerning the definition of "Stakeholder" and its usefulness to management. Thus, referring to Donaldson and Preston (1995), we can consider that the descriptive and instrumental approaches make the ...