Tag Archive for: depending

„Building positive ongoing stakeholder relationships for a company in the 21st century means: 1. knowing who the key stakeholders are 2. understanding the company’s dependency on each stakeholder group 3. understanding how the company impacts on each stakeholder group 4. understanding how each stakeholder group views the value or benefit oft he relationship with the company, and their legitimate needs, interests, concerns and expectations; and keeping stakeholders informed on the company’s progress and responiveness 5. proactively managing the feedback from stakeholders, responding to their legitimate needs and interests, and reporting on the progress and the outcomes.“
„Companies are becoming increasingly dependent on their employees, their suppliers, their distributors and dealers, and their advertising agency. This dependence involves some loss of company freedom of action, but it increases the prospect of higher productivity and profitability. The key is for the company to form close relationships with its stakeholders. The company needs build a network of partners that all gain from their joint strategy and behavior. Mutual trust is the bond. Selecting good partners and motivating them is the key to stakeholder marketing.“
„Strategy deals in large part, but not entirely, with a configuration of relationships between the company and such external „contributors“. They may be called resources, or interest groups, or in system jargon, „inputs“. Since the company benefits from, and is dependent upon, a continuing cooperative exchange relationship with each stakeholder group, wise strategy formulation and implementation is vital to the company’s existence.“
„Stakeholders in an organization are the individuals and groups who are depending on the firm in order to achieve their personal goals and whom the firm is depending for its existence.“