Stakeholder Strategy Development

Stakeholder Strategy
Development

Table of Contents
Table of Contents.............................................................................................................................2
INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................1
Generic strategy program............................................................................................................1
Recommended strategy................................................................................................................4
Strategy implementation..............................................................................................................5
Strategic leadership......................................................................................................................5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Stakeholder strategy development can be defined as the process of formulating effective
strategies for stakeholders according to their specification and choices so that their interest
within the business could be maintained. With the help of it, they can take part in the decision
making and their requirements could be focused by the management. In order to make sure that
all the stakeholders are satisfied with the performance of business it is very important for
companies to develop stakeholder strategy (Boiral and Heras-Saizarbitoria, 2017). Main aim of
this report is to understand the importance of stakeholder’s strategy development for the growth
of business. This assignment is based upon BHP Billiton which is one of the largest companies
of Australia and carrying out business at global level. This project covers various topics such as
generic strategy program, recommended strategy, implementation of the same etc. Along with
this, strategic leadership is also covered in this project.
MAIN BODY
Generic strategy program
Stakeholders are the individuals or parties which are interested in the performance of
business so that they can formulate specific decisions for future. In order to be their first choice it
is very important for all the companies to formulate such strategies that are highly focused with
them. With the help of it, their interest in business could be increased. BHP Billiton is a
successful entity and to make sure that its stakeholders are satisfied with its performance it is
required to form specific strategies for them. There are four major types of stakeholders which
are as follows:
Swing stakeholders: These stakeholders are the highly focused with competitive
advantage of the company and they have higher competitive potential. Co-founders, Chairman
etc. are some of the examples of them. It is very important to meet tehri expectations to carry out
operations smoothly (Bourne, 2016).
Defensive stakeholders: These stakeholders have higher level of competitive threat and
lower potential of cooperative. Shareholders are the example of these stakeholders and to meet
their expectations the entities are required to formulate effective strategies or growth of business
so that good dividend could eb provide to them.
1