QSO 321 Module Three Assignment Template Complete this template ✓ Solved
Complete this template by replacing the bracketed text with the relevant information. Use the row in italics as an example.
Internal Stakeholders
| Stakeholder | Role | Responsibilities | Influence |
|---|---|---|---|
| CEO | Provides vision, direction, and high-level strategic decisions for an organization | Responsible to employees, customers, the board of directors, and other stakeholders for decisions made about and for the organization | Influences strategic initiatives, goals, values, and investments of the overall organization internally; these include those that impact revenue streams, costs, investment into employees, the elimination of waste, and the overall impact of the organization |
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External Stakeholders
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Paper For Above Instructions
This assignment focuses on identifying internal and external stakeholders within an organization, understanding their roles, responsibilities, and influence. Stakeholder analysis is essential because it helps organizations to understand who can affect or be affected by their activities, thus aiding in strategic decision-making.
Internal Stakeholders Analysis
The internal stakeholders typically include individuals directly involved with the organization. For instance, aside from the CEO, who primarily directs strategic initiatives, other internal stakeholders may comprise several roles:
- CFO (Chief Financial Officer): Responsible for the financial health of the organization, overseeing budgeting and financial reporting, and ensuring that resources are allocated efficiently.
- Operations Manager: Ensures daily operations align with strategic objectives and manages the operations team to enhance productivity and reduce costs.
- HR Manager: Manages recruitment, training, and employee relations, ensuring that the workforce aligns with the organizational culture and values.
Role and Influence of Internal Stakeholders
The CFO influences financial strategies and decisions related to investments and resource allocations. The Operations Manager affects operational efficiencies and productivity initiatives. Meanwhile, the HR Manager plays a crucial role in developing a talented workforce that aligns with the organization’s mission.
External Stakeholders Analysis
External stakeholders are those who do not work within the organization but are still impacted by its operations or have an influence on its success. These might include:
- Customers: The primary source of revenue; their needs and preferences will drive product development and service enhancements.
- Suppliers: Provide necessary resources and materials; their reliability and quality directly affect the organization's operational capabilities.
- Regulatory Bodies: Ensure compliance with laws and regulations; their standards can impact how an organization operates and develops its strategies.
Role and Influence of External Stakeholders
Customers influence product offerings and market strategies, while suppliers affect production costs and scheduling. Regulatory bodies impact organizational practices through compliance requirements, which can make or break operational success.
Conclusion
Understanding the roles and influences of both internal and external stakeholders is vital for effective strategic planning. By acknowledging these pressures and influences, an organization can craft strategies that not only advance its interests but also satisfy stakeholder demands, thereby achieving a well-rounded approach to decision-making.
References
- Drucker, P. F. (2007). The Effective Executive. HarperCollins.
- Freeman, R. E. (1984). Strategic Management: A Stakeholder Approach. Pitman Publishing.
- Post, J. E., Preston, L. E., & Sachs, S. (2002). Redefining the Corporation: Stakeholder Management and Organizational Wealth. Stanford University Press.
- Mitchell, R. K., Agle, B. R., & Wood, D. J. (1997). Toward a Theory of Stakeholder Identification and Salience: Defining the Principle of Who and What Really Counts. Academy of Management Review, 22(4), 853-886.
- Carroll, A. B., & Buchholtz, A. K. (2014). Business & Society: Ethics, Sustainability, and Stakeholder Management. Cengage Learning.
- Freeman, R. E. (2010). Strategic Management: A Stakeholder Approach. Cambridge University Press.
- Bryson, J. M. (2004). Strategic Planning for Public and Non-Profit Organizations. Jossey-Bass.
- Susskind, L. (2000). Breaking the Impasse: Consensual Approaches to Resolving Conflict. Basic Books.
- Henriques, A., & Sadorsky, P. (1999). The Relationship Between Environmental Commitment and Business Performance: A Study of the Canadian Manufacturing Sector. Eco-Management and Auditing, 6(2), 151-160.
- Kaplan, R. S., & Norton, D. P. (2001). The Strategy-Focused Organization: How Balanced Scorecard Companies Thrive in the New Business Environment. Harvard Business Press.