Assignment on Leadership & Management in Business

Added on - 21 Apr 2020

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Running head: Leadership and managementLeadership and management
Leadership and managementTable of ContentsIntroduction.................................................................................................................................................3Answer 1: Two positive ways internal stakeholders influenceperformance of the business entity............3Answer 2: Two negative ways internal stakeholders influence performance of the business entity..........4Answer 3: Two positive ways external stakeholders influence performance of the business entity...........4Answer 4: Two negative ways external stakeholders influence performance of the business entity..........5Answer 5: Two ways external stakeholders indirectly influence the performance of the business entity. .6Answer 6: Human resource implementation strategy.................................................................................6A. Needs of the internal stakeholders and external stakeholders...........................................................6B.Two principles of stakeholders relationship management...................................................................7C.Stakeholders relations strategies.........................................................................................................7D.Two objectives to be achieved by assessing each stakeholder’s relations strategy.............................8Conclusion...................................................................................................................................................8References...................................................................................................................................................82
Leadership and managementIntroductionThe paper talks about the roles of the internal stakeholders as well as externalstakeholders. It also explains the principles and strategies of the stakeholder’s engagement inorder to improve and enhance the performance of the business entity. It tells that how internalstakeholders and external stakeholders influence the performance of the organization positivelyas well as negatively.Answer 1: Two positive ways internal stakeholders influenceperformance of thebusiness entityInternal stakeholders include employees, board of directors, investors and managerswithin the organization. The stakeholders are the persons or groups who have an interest in thebusiness entity to deliver the outputs and result in the organization. They also maintaintransparency and viability within the organization. The internal stakeholders influence theeffective and efficient performance of the business entity. The internal stakeholders directlyaffect the growth and success of the company. There are two ways to which internal stakeholdersinfluence the effective and efficient performance and productivity of the organization. They playa significant role to determine the mission, vision, and strategy of the company. In this way, theyinfluence the mission and vision of the company by formulating various types of strategies andpolicies in the organization. Secondary, they take effective decisions to attain the long-term goalsand objectives within the organization. The internal stakeholders are the important part of theeach and every company. They influence the behavior of the other people also (Hansen,Dunford, Boss, Boss & Angermeier, 2011).Further, internal stakeholders exercise power to the other person to do work effectivelyand efficiently. In this way, stakeholders influence the business activities and operationspositively. They help to increase and maximize the revenue of the company. They participate inthe planning process to reduce and minimize the risks and challenges of the market. The successand growth of the business entity depend on the performance of the internal stakeholders. Theyfulfill the resources requirements of the company. The internal stakeholders are involved in3
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