Stakeholder Relationship Management and Its Influence on Management Decision Making

This presentation discusses the importance of stakeholder relationship management and its influence on management decision making. It also outlines a four-step approach to improve stakeholder relationships.

Stakeholder relationship management
and its influence on Management
Decision making

Introduction
 Stakeholder management is regarded as
important element which needs to be
focused by the company owners.
 The internal stakeholders helps an
organization in taking appropriate
management decision and improve
financial effectiveness.
 External stakeholder is an essential
factor of any organization as the
external stakeholders make investment
for company’s rapid growth.

Discussion of stakeholder relationship management and
its influence on management decision
 Stakeholder Relationship Management
is being regarded as one of the essential
factors of any organization as it helps
in recognising possible issues and
taking initiatives to mitigate those
issues (Antolín-López, Delgado-
Ceballos and Montiel, 2016).
 The Chief Executive Officer of an
organisation focuses on improving the
stakeholder relationship management.

Theoretical framework`
 The theoretical framework is being
developed to identify possible issues of
any particular company structure
during the implementation of
stakeholder relationship management
(Bosse and Coughlan, 2016).
 The stakeholder theory has been used
to understand basic requirements for
stakeholder relationship.

Discussion regarding the importance of multi-advocacy
approach
 Multi advocacy approach is important
to build significant laws, policies,
regulations and distribution of different
resources that may affect people’s lives
and provide assurance that such
regulations lead to implementation
(Agudo‐Valiente, Garcés‐Ayerbe and
Salvador‐Figueras, 2015).
 The advocacy is important in the
company structure to manage different
decision within economic, political and
social systems

Define specific external
environment
 In addition, the IT association has neglected to keep up its business adequacy because of
the unseemly partner relationship the board. In the views of (Antolín-López, Delgado-
Ceballos and Montiel, 2016), the affirmation of the due date required by the senior
organization.
 As it may, it is unthinkable for the senior administrators to recognize and affirm the due
date of the task without counselling with different outside partners, for example,
speculators and colleagues.
 The outside condition of the issues in regards to partner relationship plainly depicts that the
partner relationship the board is incredibly important for the business association. While
directing the venture the executive exercises, it is exceptionally significant that the
association appropriate examine with the partners for example, workers, financial
specialists and colleagues (Notteboom et al. 2015).

Outline four step approach to stakeholder
relationship for further improvement
 Different organizations have
implemented possible initiatives such
as involving stakeholders, periodic
touch-base sessions, arrange meetings
to create stakeholder relationship with
the business organization.
 The customers, employees, suppliers
and investors of the organizations need
to build a strong relationship to
increase business growth (Andriof et
al. 2017).

Conclusion
 The present report will focus on
discussing the stakeholder management
in the company.
 In addition, its influence on
management decision will also be
discussed in the report.

Reference
 Agudo‐Valiente, J.M., Garcés‐Ayerbe, C. and Salvador‐Figueras, M., 2015. Corporate
social performance and stakeholder dialogue management. Corporate Social
Responsibility and Environmental Management, 22(1), pp.13-31.
 Andriof, J., Waddock, S., Husted, B. and Rahman, S.S., 2017. Unfolding stakeholder
thinking 2: Relationships, communication, reporting and performance. Routledge.
 Antolín-López, R., Delgado-Ceballos, J. and Montiel, I., 2016. Deconstructing
corporate sustainability: A comparison of different stakeholder metrics. Journal of
Cleaner Production, 136, pp.5-17.
 Bosse, D.A. and Coughlan, R., 2016. Stakeholder relationship bonds. Journal of
Management Studies, 53(7), pp.1197-1222.