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QUESTION- Module 3 DQ 1

Jun 30-Jul 2, 2022

Stakeholders influence organizations in terms of both practice and policy. How much influence should stakeholders wield? Support your position.

Crystal T

Posted Date

Jul 1, 2022, 5:38 PM

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Greetings, Scholars & Dr. Blando                                       

Decisions made by organizations, particularly those that impact their community, social norms, economic growth, or natural resources, can affect or be influenced by stakeholder involvement in system processes (Maxwell, & Carboni, 2014). Stakeholders focus on the organization's performance and business practices and make sure it stays at a reasonable level. Organizations that actively engage stakeholders and are flexible to stakeholder demands respond favorably to market flux and remain competitive in their industries (Navickas & Kontautienė, 2012).

Customarily business activities experience a disruption in their management process; as a result, businesses must establish a collaborative culture, transparency in procedures, and develop open platform channels of communication that provide knowledge and understanding of change processes to their stakeholders. Open communication platforms foster strong relations between stakeholders and businesses; it unites them under a common goal.

More organizations are responding to the need to integrate socially responsible practices into business operations to protect their public reputations and increase their competitiveness. It is evident from the perspectives of the major stakeholders that if their interests are respected, a strong organizational culture can emerge (Isopesku et al., 2016). Open communication platforms are the most significant way stakeholders can balance organizational practices.

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Susan R

Posted Date

Jul 1, 2022, 12:08 PM

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Stakeholders can exert influence in many aspects of organizational activities. Stakeholder influence is defined as the potential extent stakeholders wield on practice and policy that coerce organizational decisions (Rashid et al., 2020). During the decision-making process, companies determine the level of influence accepted dependent upon the level of interest the stakeholder has in the activity. As such, the level of influence is categorized by situational factors that determine the behavior a stakeholder portrays toward the activity (Xie et al., 2019). Key to strategically carrying out a decision-making process is the understanding of stakeholder expectations as well as stakeholder intentions. Stakeholders can exert influence if their intentions are perceived as accountable to their involvement, which also enables the perception of commitment towards organizational goals.

Aligning with the level of stakeholder influence is their experience. Some stakeholders, such as an IT professional or an established and acclaimed supplier, have developed the capacity to perform specific tasks that may be beneficial to an organization. Simply ignoring recommendations from seasoned stakeholders negatively affects knowledge integration and in turn may affect organizational performance (Xie et al., 2019). In other words, this level of accepted stakeholder influence is on the basis of collaboration from experienced backgrounds.

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Kenyon C

Posted Date

Jul 1, 2022, 11:31 AM

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Replies to Judy Blando

Stakeholders should have some influence on organizations, but every organization will be different. Therefore, stakeholders will play distinct roles. If stakeholders wield considerable influence over an organization and multiple stakeholders are involved, this could lead to favoritism and privilege where one group wields more power than another (Baldwin, 2018). Giving one group more influence than others will cause conflict and distrust and affect morale. There needs to be a process where stakeholders can communicate with the organization's leadership. The leadership should consider all stakeholders' concerns and weigh the benefits and detriments of those concerns. Organizations, especially multinational ones, must conform to the local norms and practices of the host country to be legitimate and effective (Kim et al., 2018) to be successful and have the community’s buy-in. Stakeholders benefit the organization, especially those who are external and local to where the organization is located—having knowledge of the needs and what is considered detrimental to the organization and the community. Leadership should always be willing to listen, confident enough to decide, and brave enough to do the right thing.

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