For a. a. fair treatment. Work turned in under these conditions tends to be sloppy, ill-tested . Go through your notes after each stakeholder meeting. A person who enjoys being around the business. Defining The Stakeholders A stakeholder is a person with something at stake through the operation, growth or existence of a business. a. fairness b. transparency. 3 Defining and Prioritizing Stakeholders. Which of the following are critical aspects of maintaining good relationships between a firm and its stakeholders? What do stakeholders want above all else? brittanyl489. Stakeholders in healthcare can include but are not limited to, patients, caregivers, doctors, nurses, unions, employees, employers, government, insurance companies, communities and pharmaceutical firms. Introduction. New ideas and change are welcomed. a. fair treatment. fair treatment Other sets by this creator. The ideas of corporate social responsibility and stakeholder strategy are particularly prevalent in _____. Is the only responsibility of business to maximize profits, as Milton Friedman famously argued in 1970? Related questions. 38 terms. They are the beneficiaries of the outputs. New ideas and change are welcomed. 36 terms. Depending on the stakeholder and project type, some of your stakeholders will naturally be more engaged. 31 terms. Limiting needless revisions and pointless back-and-forth communication means you waste less time that could be spent on important work. Summary. What do stakeholders want above all else? Let's look at each of those in a bit more detail. (Check all that apply.) 119 terms . 4 Companies issue. And on the map, jot down the types of engagement and the types of communication you would want to use to inform or engage the stakeholder. 31 terms. Compassion: Attitude is everything. Which of the following are critical aspects of maintaining good relationships between a firm and its stakeholders? fair treatment. Our starting point is that shareholders care about more than just money. by teasing out specifically what is required and matching this with the available resources - time, money and person-power - the aim is to reduce the possibility of a project running out of steam for stakeholder engagement before it is concluded and to maximise the chances that the commitments made by researchers to stakeholders (the 'promise' Improving relationships. 3.3 Ethical Decision-Making and Prioritizing Stakeholders. 22 terms. QUESTION. High-profile accounting scandals and the global financial crisis are examples of _____. Summary. economic social. 22 terms. a. fair treatment. This is how you get buy-in and avoid hearing weeks or months later: This isn't what we asked for. All stakeholders can have a say in the development of an effort that may seriously affect them. Want to read all 6 pages? Prospective investors need information to assess the company's potential for success and profitability. 67. Similarly, stakeholder management reduces friction. Strategic Management Chapter 2. This list of stakeholders covers users, governance, influencers, and providers which all together go by the acronym UPIG. Fair treatment. If nothing else, being proactive about managing stakeholders encourages a more positive company culture. All stakeholders should be considered essential to a business, but not all have equal priority. What do stakeholders want above all else? A stakeholder can be a project team member, an employee of the user organization, or a senior manager. 3.4 Corporate Social Responsibility (CSR) Key Terms. The stakeholders an organization serves ought to be its customers, employees, society, the environment as well as those who deserve a just or fair share of the profits (the shareholders). Fair treatment. In the recent history of management ideas, few have had a more profound or pernicious effect than the one that says corporations should be run in a manner that . Your stakeholders will want to know your understanding or interpretation of their requirements. 3.1 Adopting a Stakeholder Orientation. According to Johnson, Scholes & Whittington (2006) stakeholders refer to individuals or groups who depend on the organisation to fulfil their own goals and on whom, in turn, the organisation depends. 119 terms . Mistake #2: Being unrealistic with your key stakeholders. zachlilly. It's fair to everyone. zachlilly. Strategic Management: Midterm - Prof Lopez. fair treatment. companies and industries that did not conform to business ethics. What do stakeholders want above all else? A stakeholder is an individual, or group of people, that all share a common interest in a project or organisation, and share an interest in its . They can be owners, shareholders, employees . The shared value creation framework encourages managers to focus on which of the following needs? Shareholders' interests are protected by several parties both within and outside the corporation. The board of directors is elected by the shareholders to govern the management team . Despite several years of unprecedented growth, the company wants to boost profits . Users as Stakeholders. It gains buy-in and support for the effort from all stakeholders by making them an integral part of its development, planning, implementation, and evaluation. Transparency can help all those included in your business environment maintain the same course for success. They prioritize financial performance over all else. By "consensus-building," I don't mean weak compromise; I mean stakeholders working hard to seek out win/wins for nature and all the different stakeholders and interests: looking for "both and" solutions and innovations. In some cases, there are primary stakeholders on both sides of the equation: a regulation that benefits one group may have a negative effect on another. Primary stakeholders are the people or groups that stand to be directly affected, either positively or negatively, by an effort or the actions of an agency, institution, or organization. What do stakeholders want above all else? What do stakeholders want above all else? September 6, 2013. Keep the stakeholders involved. What do stakeholders want above all else? To observe stakeholder theory, those involved . 36 terms. Strategic Management Chapter 1. Despite several years of unprecedented growth, the company wants to boost profits . A person with the main role of holding stakes for a business. Funds that pools the savings of many individuals and invests this money in a variety of stocks,bonds,and other financial assets Owners and investors Stockholders of corporations need financial information to help them make decisions on what to do with their investments (shares of stock), i.e. These stakeholders include customers, clients, employees, shareholders, communities, the environment, the government, and the media (traditional and social), among others. An individual or group that has shares in the business or is affected by the activities of the business. What the South African people want above all else is to see their quality of life improved. Stakeholders in tourism development Leads by example; encourages participation; group decision- making, delegates authority. fair treatment. Strategic Management Chapter 10. zachlilly. Sets found in the same folder. Pavel works for a successful pharmaceutical company. They want jobs and opportunities to better themselves. The requirements gathering process, also known as requirements elicitation, is a project management basic practice that uncovers, verifies, documents, and manages the various needs and requirements. 3. They want to live, study and work in environments free of crime and violence. They do not care for political squabbles, rivalries, plots, and intrigue. High-profile accounting scandals and the global financial crisis are examples of _____. Similarly, stakeholder management reduces friction. . . Under the shared value creation framework, which of the following strategic actions would fail to connect economic and societal needs? Sets found in the same folder. Project managers are notorious for overpromising on a project and under-delivering even when they know they are being overly optimistic. Stakeholders and the Software Project Manager's Problem. The shared value creation framework encourages managers to focus on which of the following needs? 67. Productivity and quality are generally high. answer choices A person with the main role of holding stakes for a business An individual or group that has active interest in a business or is affected by the activities of the business An individual or group that has shares in the business or is affected by the activities of the business A person who enjoys being around the business Question 6 fair treatment. zachlilly. PFP Final Exam. 1. An individual or group that has active interest in a business or is affected by the activities of the business. Users are the stakeholder-type of people who will use the products of your project or programme. Want to read all 6 pages? A shareholder is someone who owns stock in your company, while a stakeholder is someone who is impacted by (or has a "stake" in) a project you're working on. This is how you guarantee that everyone is on the same page. A stakeholder is a person, group, or organization that can affect or be affected an organisation. They prioritize financial performance over all else. Assessment Questions. You should be guided by their fears and their wishes. It becomes their effort, and they'll do their best to make it work. A new study by Expert Market, a B2B customer acquisition company, looked at average revenue per employee and found that, for the top 100 companies by revenue per employee, the average employee . Users as Stakeholders. Users are the stakeholder-type of people who will use the products of your project or programme. Some stakeholders (like the executive leads) may need a more formal type of communication, but less . What do stakeholders want above all else? Remember, for every lot according to their priorities; you will choose the right way to communicate with them. Productivity and quality are generally high. Again, project tracking can be of great help here, as it allows you to keep everyone in the loop while saving your time. Many shareholders . If nothing else, being proactive about managing stakeholders encourages a more positive company culture. End of preview. They can be owners, shareholders, employees, bondholders of company issued debt (creditors), customers dependent on the business' success, or even suppliers or vendors of a product that depend on. checks and balances . Strategic Management: Midterm - Prof Lopez. Corporate governance is a system of _____. You might do a weekly high-level report for the clients via a personal email from the project manager. A stakeholder is anyone who has a "stake" in the success of a business - a person who can be affected by, or affect, the operations of a business. This mistake is more common than many project managers are willing to admit. This list of stakeholders covers users, governance, influencers, and providers which all together go by the acronym UPIG. hold, sell, or buy more. Limiting needless revisions and pointless back-and-forth communication means you waste less time that could be spent on important work. answer choices. What do stakeholders want above all else? fair treatment Other sets by this creator. Improving relationships. andrew ross sorkin For as long as I covered the world of business, every. The ideas of corporate social responsibility and stakeholder strategy are particularly prevalent in _____. Related questions. a. fairness b. transparency. They are the beneficiaries of the outputs. 38 terms. Strategic Management Chapter 2. checks and balances . What do stakeholders want above all else? A feeling of responsibility is developed within the good. We have completed over 130 multistakeholder projects at local, national, and international levels.