Discussion forum unit 4 Principles of Business Management PDF

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This is my view on the Discussion forum that our Instructor give to us in our class, on the course of Principles of Business management during Fourth week....

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The text defines stakeholders as: “Individuals and organizations who are actively involved in the organization or whose interests may be positively or negatively affected as a result of what the organization does.” Every organization has stakeholders. Choose one of the companies below and identify three key stakeholders. Then discuss how the company caters for their interests and what may happen if their expectations are not met.   

A water utility company A multinational food company A local airport

The concept of effective stakeholder management is of central concern in research domains such as crisis management, impression management, and stakeholder strategy. I choose the multinational food company and here are the three key stakeholders as investors, customers and employees. 1. Investors: investors have the ability to accurate and timely any information in an organization such as regular financial statements. Multinational food companies are doing regular engagement and effective communication with the investors that include annual general meetings for disbursing financial information and company performance analysis. They tight the business to remain profitable and provide return on investment in the business, if the business fails investors pull out from further investing in the company. 2. Customers: Customers are one of the most crucial stakeholders in a company, they furnish the revenue cash flow that the company needs to operate and earn profit. Basically multinational food companies maintain value, openness and transparent communication with their customers through forums, or one-on one interaction and marketing. 3. Employees: Employees are the most valuable asset, Multinational food companies’ are really value diversity. The company Encourage employees with small recompense, proper training, safety measures and empowerment to ensure they deliver a better customer experience. References.

Bundy, Jonathan; Pfarrer, Michael D.; Short, Cole E.; Coombs, W. Timothy (2017). "Crises and Crisis Management: Integration, Interpretation, and Research Development". Journal of Management. 43 (6): 1661–1692. doi:10.1177/0149206316680030. ISSN 0149-2063...