ipl-logo

Importance Of Stakeholder Theory In Nigeria

1653 Words7 Pages
bulb-icon

Recommended: Stakeholder theory

Stakeholder’s theory
Many researchers have used stakeholder theory to understand the intrinsic knowledge behind the fundamentals of operation and the relationship among stakeholders. Therefore, consideration of the method in which effective and sustainable waste container (bottle & can) recycling system can be implemented in Nigeria and the factor that have been the constraints to waste management in Nigeria, stakeholder theory will therefore be essential to be analyzed.
Without any reservation, stakeholder theory has amassed huge recognitions in the recent years not only in the field of business ethics (Moore, 1999), management science studies (Damak-Ayadi, 2005) but also in wide array of fields such as corporate strategy, economics and public policy (Damak-Ayadi, 2005), health care, law, and public policy (Freeman et, al. 2010). According to (Damak-Ayadi, 2005), it has become a focal point of many grate debates to the extents of imposing itself as a point of reference, imitating corporate social responsibility (CSR) policies (Damak-Ayadi, 2005). CSR comprises of a broad preposition that business organization have ethical responsibilities more than maximizing profit for stakeholders and obeying the law (McWilliams and Siegel, 2001). To substantiate the speed in which this corpus has developed over the years, academic research dedicated a special place for stakeholder theory (Damak-Ayadi, 2005), over 100 articles and a dozens of books have been published on stakeholder
Show More
Related
259 Words | 2 Pages

A Stakeholder is any individual who has a vested interest in a business and is affected by the organisations decisions and strategies (Pride, Hughes & Kapoor 2015, p. 10). Therefore, the people most affected by Graeter’s decisions to take a long term view of the business rather than aim for short term profits are the family members who have a stake in the business. At the present, Richard Graeter II (CEO), Robert Graeter (vice president of operations) and Chip Graeter (vice president of retail operations) manage the business and are responsible for all the decisions regarding its operations. Graeter’s management team have chosen to forgo the opportunity for short term profits by adhering to the traditional manufacturing process used by Louis

Read More
133 Words | 1 Pages

Some of the important stakeholders include: internal (executive and senior management, such as CFO, CEO, CNIO, CMIO, CIO, departmental directors), interphase (focus groups representing front line clinicians, pharmacists, nurses, other allied healthcare professionals) and external ( e.g. government regulatory bodies, patients, accreditation associations). As a stakeholder is any individual that can affect or be affected by the CIS deployment, it is important to identify and engaging them early on is critical to the latter success. The interphase stakeholders know best the workflows at the point of care and will help identify a system that is compatible with the needs and has functionality that is in line with the processes. The internal stakeholders

Read More
1172 Words | 5 Pages

Know Your Business Environment Unit No. 1: The Business Environment Pervez Ghazi Shaikh Date Submitted: 31/10/2016 Carl Loraine Cruz 20154176   Target is the organization that I have chosen for this assignment. Target is a famous discount retailer in United States that was founded by George Dayton. It was formerly called Dayton’s Company in 1910.

Read More
2958 Words | 12 Pages

Organisational values can be described as a “belief that a specific mode of conduct is preferable to an opposite or contrary mode of conduct” (Rokeach, 1973). Some organisations describe them as their ‘guiding beacons’ whilst others describe them as part of their philosophy. As Diageo explains ‘Our values are not just words on a page – they are in our DNA. They underpin everything we do and are reflected in the day-to-day behaviour of the company.’ –

Read More
1155 Words | 5 Pages

Davis (as cited by Khalidah, Zulkufly, & Lau, 2014) defined Corporate Social Responsibility (CSR) as “… the firm’s consideration of, and response to, issues beyond the narrow economic, technical, and legal requirements of the firm. It is the firm’s obligation to evaluate in its decision-making processes the effects of its decisions on the external social system in a manner that will accomplish social benefits along with the traditional economic gains, which the firm seeks. It means that social responsibility begins where the law ends. A firm is not being socially responsible if it merely complies with the minimum requirements of the law, because this is what any good citizen would do.” A firm will not survive without the support of both the stakeholders and shareholders, thus the CSR proposes the indication which stats that a firm can never exist In a vacuum (Khalidah et.

Read More
707 Words | 3 Pages

1. How has Tetra Pak’s Chinese recycling chain been reconceptualized by the end of the case? Draw a recycling-chain map to compare the original and current concepts. In 1998, Tetra Pak’s china set up the environmental department and focused on the creating the recycling chain, during that time the society of China still didn’t have a clear concept about recycling and the Tetra Pak want to take a step on the end- of- life recycling, therefor, Tetra Pak try to develop a new recycling chain in China.

Read More
1043 Words | 5 Pages

The Stakeholder Salience Theory, created by Mitchell, Agle and Wood, are based upon the combination of the three relationship attributes to generate general types of stakeholders. These attributes include: Power; Legitimacy; Urgency. “Stakeholder salience” is defined as the degree to which managers give priority to competing stakeholder claims. Therefore if a stakeholder consist of all three attributes, he/she/it will be of most importance and will have more rights and privileges than a stakeholder that consists of only one of the three attributes. As seen in the picture on the right, you can differentiate between the different types of stakeholders, according to where they get placed given the attributes they consist of.

Read More
755 Words | 4 Pages

Stakeholder analysis Stakeholder are entity that will affect the organization actions, objectives and policies. There are two types of stakeholder which is internal stakeholder and external stakeholder. The McDonald’s stakeholders are customers, suppliers, employees, managers, government, local communities and pressure groups. Customers Customers are the external stakeholders of the company, no customer mean zero profit.

Read More
941 Words | 4 Pages

Introduction This case study explores the acquisition of the Body Shop, which is one of the largest franchise cosmetics companies in the world, by L’Oreal. The main concentration of the case study aims at investigating the impact on business ethics and corporate social responsibility by the concentricity of the Body Shop and L’Oreal and how the general attitude and buying behaviour is distorted in the course of this acquisition. L‘Oreal being the big conglomerate in the cosmetics industry acquired the Body Shop International which is comparably small but having iconic brand of environmental and socially responsible concerns, on 17 March 2006, through a covenant of $1.2 billion. The combination of two brands in a newly formed conglomerate implies a combination of values, principles and associations that might affect a company’s appeal. The verity that L 'Oreal 's acquisition of the Body Shop provides plenty of potential growth opportunities is undeniable; nevertheless the question of how well the acquisition sits in the group of the world 's largest cosmetics company is another matter.

Read More
730 Words | 3 Pages

Stakeholder define as a person, group or organization that has interest or concern in an organization. Some examples of key stakeholders are shareholders, employee, suppliers, customers and government. Not all stakeholders are equal. A company 's customers are entitled to fair trading practices but they are not entitled to the same consideration as the company 's employees.

Read More
2166 Words | 9 Pages

In the recent years more and more companies in the retail and food industry are concerned about the environmental consequences of their action and also the social ethics for the people involved in the production process. This is a shift from the philanthropic actions companies used to take in 1970’s and by following basic international standards to a ‘business case’ perspective of CSR (Customer Social Responsibility). According to the World Business Council for Sustainability Develpoment ( WBCSD) CSR is: ‘’ the commitment of business to contribute to sustainable economic development, working with employees, theirfamilies, the local community and society at large to improve their quality of life’’ (World Bank, 2002)

Read More
963 Words | 4 Pages

3. Stakeholders: Definition:A person, group or organisation that has interest or concern in an organisation. Stakeholders can affect or be affected by the organisation 's actions, objectives and policies. Some examples of key stakeholders are creditors, directors, employees, government (and its agencies), owners (shareholders), suppliers, unions, and the community from which the business draws its resources. Not all stakeholders are equal.

Read More
2155 Words | 9 Pages

CASE STUDY HINDUSTAN UNILEVER- TRANSFORMING A BRAND INTO A SOCIALLY RESPONSIBLE LEADER. 6/30/2015 Amity International Business School Aditya Agarwal A1802014167 Faculty Guide- Dr. Kokil Jain Industry Guide-

Read More
2393 Words | 10 Pages

Here you look on the difference between benefits and harms for the society and if the benefits are greater than the decision or an action is considered as ethical, if lower – unethical. Here it is important to identify the stakeholders and an effects on them from actions or decisions of a company. “You can think of a stakeholder as a person or organization that can affect or be affected by your organization. Stakeholders can come from inside or outside of the organization. Examples of stakeholders of a business include customers, employees, stockholders, suppliers, non-profit community organizations, government, and the local community among many others.”

Read More
997 Words | 4 Pages

The History of Business Ethics and Stakeholder Theory in America Ethics play a huge role in the global business field, since considerations have to be made on moral practices, values, and judgments that govern the direction and overall success of the company. Consequently, over the progression of history, managers, entrepreneurs, and stakeholders at the helm of organizations have always had the mandate of making moral resolves on matters of ethics. According to Hunter (2003), such an approach to ethical behavior prompts a substantial growth in the organizational corporation, as well as maximizing business profits, and creating a reputable company image (Cutler, 2004). Notably, the overall performances of organizations that take part in unethical

Read More

More about Importance Of Stakeholder Theory In Nigeria

Related Topics

Open Document