Stakeholder Management for Nura Headphone: Identification, Evaluation and Implications

Running head: STAKEHOLDER MANAGEMENT
Stakeholder management
Name of the student
Name of the university
Author note

1STAKEHOLDER MANAGEMENT
Executive summary
 The key functional areas of Nura headphone are identified.
 All the relevant internal and external stakeholders for Nura are also identified and
evaluated.
 Implications of the conflicting interests among the stakeholders are also discussed.
 Interests and influence of the stakeholders in the business operation of Nura are
evaluated.
 Stakeholder matrix is being done.
 It is concluded that identification of the stakeholder is important for enhancing the
organizational effectiveness.

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Table of Contents
Introduction......................................................................................................................................3
Identification of the functional areas...............................................................................................4
Political factors............................................................................................................................4
Economical factors......................................................................................................................4
Social factors...............................................................................................................................4
Technological factors...................................................................................................................5
Legal factors................................................................................................................................5
Environmental factors..................................................................................................................6
Identification of internal and external stakeholders.........................................................................6
Identification of nature and degree of stakeholder’s interest...........................................................8
Implications of the conflicting interests....................................................................................10
Level of stakeholder’s influence....................................................................................................10
Stakeholder matrix.........................................................................................................................11
Discussion forum...........................................................................................................................12
Conclusion.....................................................................................................................................12
Reference.......................................................................................................................................14

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Introduction
The current business state of affairs is much competitive and challenging for the
contemporary business entities compared to what they faced a few decades ago. This is due to
the reason that the rate and intensity of competition is more in the current time. In accordance to
this competitive scenario, contemporary business organizations are now having more complex
sets of stakeholders in their operation and each of them is having greater influence in the
business affairs. However, it should also be noted that managing each of these stakeholders is
becoming challenging for the business entities due to the reason that effective management will
prevent the emergence of any sorts of issues (Bourne, 2016). It is also important for the
contemporary businesses to identify the key internal and external stakeholders relevant in their
business operation. The more effectively, the interest and influence of the internal and external
stakeholders will be identified, the more effective will be the stakeholder management
strategizes accordingly (Verbeke & Tung, 2013).
Stakeholder management is equally important for the small and medium scale businesses
due to the fact that they will face lower sets of issues since their initial stage of operation. Nura is
one of the leading technological startups in Australia in the recent time and is offering smart
headphone in the market. These headphones are one of the kinds in the market due to their
hearing sensitivity aid features. However, they are expanding their business in the recent time
and thus are having the need for managing different types of stakeholders. This report will
involve PESTLE analysis to identify all the relevant stakeholders in the business of Nura along
with identify their roles. In addition, the nature and degree of stakeholder’s interests and
implications will also be discussed.