21 Jun Stakeholders represent a variety of viewpoints and orga

THE ORIGINAL QUESTION WAS-

Stakeholders represent a variety of viewpoints and organizational segments. Why would it be a mistake to only consider internal stakeholders when making organizational plans? Explain. Should one or more stakeholder groups wield more influence than others? Explain.

This student CRYSTAL answered –

Stakeholders can either be a person or entity with a unique connection or an invested interest in the day-to-day operations, social practices and reporting accuracy for transparency (Alexander, 2005). Stakeholders have the power to influence business activities. They create sustainable environments and protect public health and wealth with the right balance. A company cannot function without stakeholders; its internal customers (owners, investors, and employees) and their external customers (general public, suppliers, communities, environmentalists, and government agencies).

An intrinsic value is assigned to stakeholders based on the moral rights of everyone affected by organizations and their business practices. Research supports that an organization's business activities can affect stakeholders long-term and that all stakeholders should be considered in developing organizational plans (Spitzeck & Hansen, 2010). Organizations that only consider internal stakeholders would place the health and wealth of owners and investors over their external stakeholders, such as customers and vendors. A business that disregards its external customers, those that influence business sales, puts financial gain over social welfare. Social welfare enhances human rights and protects public health and wealth.

Reference

Alexander, I. F. (2005). A taxonomy of stakeholders: Human roles in system development. International Journal of Technology and Human Interaction, 1(1), 23-59.

Spitzeck, H., & Hansen, E. G. (2010). Stakeholder governance: How stakeholders influence corporate decision making. Corporate Governance, 10(4), 378-391.

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THE ORIGINAL QUESTION WAS-

Replies to SUSAN

Internal and external stakeholders are key to organizational success. Internal stakeholders are customers to each other, and each department works together to provide a steady flow of information and tasks to produce a product that meets the needs of the external customer. Without considering the external stakeholder, there may be a flow of information, but that information is skewed and incorrect and not to the full requirements of what the external stakeholders are requesting. I would surmise that external stakeholders include government agencies and environmental impacts. External stakeholders add to organizational diversity and grow the portfolio of resources and opportunities for innovation (Baah et al, 2020). There is a always a broader picture to consider when making decisions for the organization. Considering both internal and external stakeholders in this process enables improvement on all functional areas of a business. It further tackles the need to continually evolve with the changing economy and creates a stream-lined platform for making organizational decisions (Baah et al, 2020).

I do not feel that stakeholder groups should have more influence than others. Each stakeholder has a level of expertise that another stakeholder does not and if one influences the decision of another, that level of expertise is stifled and the end result is not where it should be.

Reference:

Baah, C., Jin, Z., & Tang, L. (2020). Organizational and regulatory stakeholder pressures friends or foes to green logistics practices and financial performance: Investigating corporate reputation as a missing link. Journal of Cleaner Production, 247. https://doi-org.lopes.idm.oclc.org/10.1016/j.jclepro.2019.119125

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