Key Stakeholders' Expectations on Costs and Returns are not Matching

Stakeholder Analysis
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Stakeholder Analysis > Best Practices

Nguyen Anh Tuan, MBA, Management Consultant, Viet Nam
How can organizations handle the situation where some key stakeholders expect high returns (owners, shareholders, investors, managers) while some other important stakeholders' expectation will increase costs (employees require high salaries, suppliers require high price, government requires high tax)? (...) Read more? Sign up for free

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  Gilbert Mlongoti Sinjani, Manager, Zambia
 

Stakeholder Analysis

I see this in the eyes of corporate sustainability
Every firm's stakeholder has their view on an organisation. What is in it for me syndrome.
I would suggest the following steps:-
- A thorough stakeholder analysis - that is situation specific - is done in which primary, secondary and tertiary stakeholders are rated (the MAW approach).
- The outcome from this analysis will give you insight into how to handle the various stakeholders in the underlying scenarios.
- Also, consider the firm's corporate governance structure. How solid is it? Invariably this drives the way firms think and operate and how, particularly, the primary stakeholders (shareholders) influence the firm's operations. If this is found wanting, it has to be addressed. It will be in the interest of these stakeholders to reconsider their ways for the sake of their firm.
It is all about, after all, corporate sustainability.

  Jaap de Jonge, Editor, Netherlands
 

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