Respond to each classmate 100 words or more. This is the discussion they had to answer. Give a listing and description of the stakeholders of your own workplace. How does your organization address th

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Respond to each classmate 100 words or more.

This is the discussion they had to answer.

Give a listing and description of the stakeholders of your own workplace. How does your organization address the importance of each stakeholder group?

Classmate 1

Management has the responsibility to identify who the stakeholders are within their company because by doing so, they can develop their organization as efficiently as possible. Stakeholders can be described as individuals or a group of employees that can influence projects within an organization or be influenced by them. Additionally, being familiar with everyone’s influence within a company will aid in identifying groups or individuals vital within the organization. Stakeholders can also exist externally from an organization and possess the same influence over it as those within it. For instance, customers are external stakeholders that determine how a company markets its products or services and ultimately determine whether those services will remain the same or need improvement. The stakeholders within the company I work for consist of those in the training department, employees, and clients. The training department is vital because it is there where employees develop their skills to serve the company’s clients. The training department has a lot of responsibility because an employee’s performance can reflect them as trainers. Employees are then responsible for providing satisfactory customer service for clients to continue using the company’s services. Additionally, employees can also propose ideas to the training department to make their job more efficient. Finally, the clients are the external stakeholders that can influence whether the training department needs to improve and whether there is a demand for more employees. If clients are not satisfied with services, this can cause the organization to completely restructure their training department or let go of current employees. Therefore everyone involved is a stakeholder that can have a positive or negative impact on the company.

Classmate 2

A stakeholder has a vested interest in a company and can either affect or be affected by a business’s operations and performance. According to Ruddell (2014), companies have a fiduciary obligation ethically to primary stakeholders. A listing of the stakeholders in the organization I am employed are:

  1. The Investors -These are people that have a financial interest in the organization and play a major role in the organization. They have invested money and their expectation is that leadership will maximize their investment for a greater return on their equity.
  2. The Government-They collect taxes from the company and the employees and benefits from the company’s profit
  3. Employees -Are critical to any organization’s strategic initiatives as they invest a lot of time to ensure the success of a company and can have a major impact or effect on a business if they decided not to show up for work.
  4. The Customers-These are the consumers that purchase the goods, services, and/or products your organization offer.
  5. The Community-The people or group that can be affected by the actions of the organization.

Based on the lecture, the stakeholder analysis, and Synthesis involves the decision-making process: Perception (fact gather of options), analysis (of impacts), synthesis (fundamental priorities), choice, action(implementation), and Learning (measurement and assessment). I believe the company does a good job in addressing the importance of each stakeholder. As for the investors, the company ensures that the leadership they have in place to run the organization is someone that is ethical, visionary, strategic, and a good steward that will produce a return on their investment in the organization. The importance of government, the company ensure we are operating by the laws and regulations, paying taxes, and doing the right thing lawfully. The importance of the employees by the company is shown through wages. The company pays a living wage to each employee for their time and commitment to the company in producing their goods and services to consumers. The organization shows the importance of its customers by ensuring we are delivering quality services and providing premier client experiences with each customer interaction. The importance of the community is shown through many volunteer and outreach programs the company is involved in to ensure our communities are not only receiving relief but have opportunities for development and education.

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