Strategic Management and Stakeholder Approach

Added on - 21 Apr 2020

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Running head: STRATEGIC MANAGEMENT AND STAKEHOLDER APPROACHSTRATEGIC MANAGEMENT AND STAKEHOLDER APPROACHName of the studentName of the universityAuthor note
1STRATEGIC MANAGEMENT AND STAKEHOLDER APPROACHTable of ContentsTask 4...............................................................................................................................................2Participation of the stakeholders..................................................................................................2Motivation of the stakeholders....................................................................................................2Motivation of the staff seeking help............................................................................................3Stakeholder feedback and motivation of the staff.......................................................................3Maintaining Stakeholder engagement.........................................................................................4Self and staff motivation..............................................................................................................5References........................................................................................................................................7
2STRATEGIC MANAGEMENT AND STAKEHOLDER APPROACHTask 4Participation of the stakeholdersIn order to understand the ways in which the stakeholders can participate in the processof the innovation undertaken by the BNZ, the idea about the innovation must be clear. The ideais to make the significant changes in the systems undertaken by the organization in order toincrease the scope of customer retention (Hayes, 2014). Therefore, the active participation of thestakeholders is important in order to consider the progress of the change. The stakeholders, inorder to consider the change, take the following steps to participate in the process of the change.Proper performance of the distinctive job rolesHelping the company in monitoring over the feedback of the clients in order to bring thesignificant changeMotivation of the stakeholdersStrategies through which the company can make use of the communication in order tokeep the employees well informed is being enumerated in this section of the report. Theawareness that is being created by the organization is based on the expectations of thestakeholders and their right to know about the proceedings of the company (Bradley, 2016).Therefore, the company undertakes the following strategic steps to keep the stakeholders and thecustomers involved in the process and maintain the good relation.Formulation of a website in order to create mass awareness of the internal and theexternal stakeholders of the organization (Striteska & Spickova, 2012)
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