A topic discussed is why a manager should not be considered a stakeholder.
Herbenson Duvelsaint
A topic discussed is why a manager should not be considered a stakeholder. Many scholars have argued over the past decades the two of the most important positions for any business to be successful are a manager and the stake holders. As stated in the assignments, one must consider the stakeholder objective or purpose are the owner’s wants, needs, and share value. The reading defines a stakeholder as persons or groups that affect or are affected by a firm’s decisions, policies, and operations. The reason behind the business’s existence is the stakeholder and groups do not include customers or employees. Managers can influence the company day to day practice of the organization. Managers can influence the company day to day practice of the organization. Such a method includes communicating with stakeholders, employers, and consumer experience. Relationships, especially those of customers to those within the organization, are essential assets to the long-term view and success of the organization.
Managers’ decisions impact stakeholders strategically; this information competition may lead to conflict. Managers need to understand the perspective of the stakeholder. By having a manager serve as a stakeholder, the business is opening itself up to negative feedback because the manager might now engage in unfavorable business deals to promote short-term gains (Riahi, 2017). The impact is different once they learn that their manager is a stakeholder, maybe the performance of coworkers’. Successful businesses usually have good morals, and the employees enjoy the work environment. As a company leader, one should focus on the relationship the managers are building within that employee/ worker bee because that will determine the business’s success. Managers not having self-interest roles will lessen the likelihood of bad practice. Accountability is another reason why the manager cannot be a stakeholder. The stakeholder usually holds the managers liable for the success or failure of the business. Managers’ success brings new opportunities, professional development, and more power over counterparts.
Market and non-market are the two kinds of stakeholders.
The big supporter of the company is known as the market stakeholders; without them, the company will plummet or be in financial difficulty. Market stakeholders are shareholders, suppliers, and employees, influencing the company’s direction. The role of everyone in opening the business is to ensure the business is within the right location, business is booming, making more sales, and the profit is good (Van der Walt, 2016).
Non-market are outside the business and identify as community personnel (firefighters, teachers, doctors, church clerks), political groups, and business support groups outside the industry and usually have no financial gains. An example of a non-market company opening a nightclub near a middle school may lead to a division of interest. Leaders in the community might see this as a way to open a new type of business within the area. In contrast, school officials might be concerned with the exposure the students will encounter to the potential to be flawed characters and alcohol and the usage of illegal drugs.
To conclude, all business owners must balance the needs of the stakeholders and non-market stakeholders because, without community support, your business will receive economic challenges and will not have a chance to flourish.
References
Riahi, Y. (2017), “Project management: techniques and methodologies”, International Journal of Science and Research, Volume 6 Issue 2.
Van der Walt, D. (2016), OTC Stakeholder Management Toolkit. Available from https://www.otctoolkits.com/. Accessed on 12th June 2020.
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