Discussing the Role of Stakeholders in Organizations: QHO420

This essay delves into the critical role of stakeholders within business organizations, exploring their influence on strategic planning, decision-making, and overall performance. It examines the diverse roles of stakeholders, including internal entities like shareholders and employees, and external groups such as government bodies and customers. The essay analyzes stakeholder theories, such as the stakeholder approach, and their impact on companies, using Tesco Plc as a case study. It also explores stakeholder models, the influence of UK Corporate Governance Law, and the importance of leadership and management in stakeholder engagement. The analysis covers the descriptive, instrumental, and normative values of stakeholder models, highlighting how companies like Tesco integrate economic, environmental, and ethical factors into their operations. The essay concludes by emphasizing the significance of stakeholder engagement for organizational success and sustainable development.