Stakeholders are people interested in the dealings of a company or business entity (Cooper, 2004). Tese interests make them want to be part of the growth of this venture so that they get to benefit from it. Te primary stakeholders in this firm are the people who find that they are directly affected by the actions carried out by the firm. I this case, te primary stakeholders are the persons in need of the security details. Tey are directly affected in that the actions the firm undertakes make them susceptible to positive and/or negative reactions (Cooper, 2004).
Te secondary stakeholders are not directly affected. Hwever, tey still take an interest at how the end results turn out on the projects the firm undertakes. Tey provide aid in the firm to assist in helping the primary stakeholders. I this firm’s case, te stakeholders are the money lending parties that are involved. They are able to lend money to the firm in order for the primary stakeholders’ safety to be safeguarded. Tis, i turn, lads to the growth of the as the profits they rake in seem to increase the firm’s credibility.
Te many ways that stakeholders can influence the destiny of this firm can be of significant importance. Tey can lead to the implementation of policies that may lead to the firm’s rise, o fall. Snce the secondary stakeholders are the main players in the firm, i is highly likely that they would want to formulate policies that may only benefit them. Wen this happens, afirm can run the risk of being brought down due to greed. Wether not these policies are implemented with the firm’s interests are heart is determined by the outcome.
Hwever, a a CEO, oe should not wait until the company is run to the ground by its stakeholders. Oe should take a stand that advocates for the implementation of policies that may see the growth of the firm in attaining higher, dfferent levels. I is imperative that the firm gets to realise this, ad advocate for the betterment of the firm’s goals (Cooper, 2004). A a CEO, te ability to create a that ensures the stakeholders invest in the firm’s projects.
Te forming of a coalition between the stakeholders and the management team can help improve the state of the firm. Tinking of a plan would be the first stage in ensuring the stakeholders are a part of the team. Ceating and analysing the plan could be the next stage. Tis ensures that stakeholders have the capability,...
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