Stakeholder Identification and Effective Relationship Management

This report provides an analysis of stakeholder identification and the importance of effective relationship management within an organization. It explores the roles of both internal and external stakeholders, highlighting the significance of maintaining strong relationships to mitigate risks, enhance organizational reputation, and improve overall performance. The report discusses management relationship theories, including contingency and situational leadership, and addresses common issues such as data migration and adaptation rates. It concludes by emphasizing the benefits of transparent communication and collaborative decision-making in fostering effective stakeholder relationships for achieving mutual benefits and organizational success. Desklib offers students access to this and other solved assignments.

Influencing Stakeholders

INTRODUCTION
 A stakeholder is known as part of the company but they can affect and affect not in the
organization. The basic stakeholders are known as the customers, investors, suppliers,
and customers. They can also be an external or internal part of the organization but is
having a direct relationship with investment, employment, and ownership. The external
stakeholders usually do not work inside the organization but can directly affect the
outcomes and actions of the organization in some or other kind of way as public groups,
creditors, and suppliers are known as the external stakeholders. This presentation is the
analysis of stakeholders identification and this also involves the management
relationships and the implication of the relationship management in an effective manner
this report also involves various management issues which can affect the relation of the
effective management system of the organization.

Stakeholder identification
 As the organic organization to identify the potential stakeholders in an effective form
for better results and outcomes. It is a process that identifies all the stakeholders
which can turn useful to the organisation as this is a process of identifying the
stakeholders for the project before identifying it is essential to know that all the
stakeholders are not influenced same as there has a different sense of taking things
and affect differently on the business project(Ashaye and Irani 2019). Sheila can
find their stakeholder by the process of brainstorming which will help her for better
results and suggestions regarding the jo role and overcoming her tension as investors
can be the best stakeholder to Sheila’s bakery as she wants to introduce a new product
and production line in the market for the better results of her investment in the
organization.

Management relationship
 As it is important to maintain an effective relationship with the stakeholders and maintain them
effectively as this is crucial to maintain it as it helps in resolving the risks and issues which is facing
by the business and by their influence stakeholders also maintain the social environment ad the
business and also helps in the operating it effectively and maintains the operating and financial
performance of the organization(Neupane 2020). As the management relationship with Sheila in
her new job is not good as she is felling pressure as well as no top management is focussing on her
new product line idea which can turn out best as no team has been assigned to her for the better
development of production line and she is trying the best possible ways which are as an effective
relationship with the stakeholders also focuses on the business activities as a stakeholder can be any
person, organization, or a group of people which helps in maintaining the organizational output,
resources, and attention which can impact the resulted product of the organization as by marinating
the relation with stakeholders helps in achieving mutual benefits and can also shape the
organizational project and by inserting innovative input can improve the quality of the project of the
organization.

The implication of management
relationship
 There are many benefits of building a relationship with the stakeholders as this
helps in lowering the risk of the project failure and also helps in building the
organizational reputation and goodwill in the industry as they are connected with
many other competitive advantages or having positive relationships with other
stakeholders which are working for the competitive organization(Gan Chang
and Wen 2018). This also helps in meeting all the regulatory requirements of
the organization effectively as this also helps in giving a competitive advantage
to the organization in an effective manner. As Sheila has used these 7 steps
which had help in the implication of the management relationship and they are
described below.

Management relationship theories
 This is a theory that involves many criteria to maintain a better relationship with the
stakeholders.
 Managing ambiguity
 As in this theory, managers use multiple ideas to carry out business operations and functions
which can be able to reconcile the ideas effectively. This also encourages the stakeholder for the
better. Sheila has managed and evaluated her idea for the better upcoming results of the
production line.

Theories of management and
leadership theories
 Contingency theory
 This a theory and a management style and this can be applicable in many situations as this is a theory in which
managers are required to influence their employees for increasing the level of productivity in the organization and this
leader chooses the right actions for looking after the business variables. This theory is usually used by the business for
the better growth of the departments.
 Situational leadership theory
 This is a theory that is important for various situational variables and this is a leadership theory that adapts new styles
as per the competency level of the staff and employees of the organization and this is usually designed for the flexible
working of the organisation to increase the employees potential effectively and this is usually done in a group of people
and this also establishes the relationship between the employees.

Relationship management issues
 Implementation and migration of data
 As this problem always rises as data migration and implementation is not always straightforward or
successful which sometimes also fails business operation and can decrease the overall efficiency of the
organization.
 Low adaptation rate
 As sometimes stakeholder management of relationship software is time-consuming and considered
confusing and putting the data differently can create a risk to the data and cannot resolves the gaps in the
project(Liu and Wang 2020).

Effective relationship management
 With stakeholders, the relationship can be managed effectively by identifying the
desired outcome by analysing all the requirements needed by the stakeholder for
maintaining their better performance and accomplishing the goals as it also
shares the information with transparency with the stakeholders for better results
of the project and it is important to participate in every decision-making process
related to the project which makes the relationship better and effective(Khan
2021). After the procedures followed Shelia has developed there relationship
with there top management and there idea is also taken into consideration.

CONCLUSION
 This presentation has concluded that stakeholder is the essential part of the
organization which there are the internal or external parts of the organization and
it is important to maintain a better relationship with them for better outcomes of
the project and a good reputation for the organization as this presentation also
concluded there are various issues which are faced in the relationship of
stakeholder and the organization but it can be managed effectively by the
effective relationship management process.

REFERENCES
 Ashaye, O.R., and Irani, Z., 2019. The role of stakeholders in the effective use of e-
government resources in public services. International Journal of Information
Management, 49, pp.253-270.
 Yaukey, K.A., 2021. Influencing Project Stakeholders' Participation and Advocacy in the
Construction Industry (Doctoral dissertation, Capella University).
 Neupane, C., 2020. Key Determinants Influencing Stakeholders’ Trust Towards Their
Intention to Adopt Smart City Services in Australian Regional Cities (Doctoral
dissertation, CQUniversity).