HI6005 Management Report: Stakeholder Relationship Management Analysis

This report examines stakeholder relationship management and its impact on management decision-making within a general framework. It uses LinkedIn as an example of poor stakeholder management and outlines a four-step approach to improve these relationships. The report discusses the importance of good stakeholder relationships, analyzes the external environment affecting these relationships, and considers the impact of a multi-advocacy approach on decision-making. Key areas covered include identifying stakeholders, studying their relevance, contacting them effectively, and improving consumer experiences through quality services and customer relationship management. The report concludes by highlighting the influence of political, economic, technological, social, and environmental factors on stakeholder relationships and decision-making processes.

Management and Organizations
in a Global Environment
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Institution
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Introduction
 This report is centered on stakeholder relationship management and its influence on management
decision making general framework. Also, the paper uses an example from LinkedIn to illustrate
poor stakeholder management.
 Furthermore, the report outlines the four step approach to stakeholder relationship management.
In addition, the paper also considers a good stakeholder relationships examples as well as
discussing its external environment (Bourne 2016).
 Lastly, the report discusses the impact of multi-advocacy approach on decision making.

Poor Stakeholder relationship management
 Premium allows one to be able to see the people viewing their Profiles.
 The ability to communicate with people from outside the platform through emails
allocated.
 Improved search algorithm to find people easily.
 Capability of viewing more profiles at one time.

Four step approach to stakeholder’s
relationship management
 Organizations tend to perform well when they are in a position to identify and
effectively interact with stakeholders. The practices of forming alliance that
mutually benefit all the participants is a common process in many organizations
today (Tantalo and Priem 2016). The advancement in technology has contributed
to new ways and tools to interact, inform and consult with relevant stakeholders.
 Based on the nature of the industry, stakeholder relationship has the capability of
delivering more customers, better policies and improved projects performance.
Supporting beneficial stakeholder relationship is a challenging exercise. For a long
period of time, stakeholder relationships have been relying on four steps that play
a crucial role in effectively managing stakeholder relationship. These steps are as
follows:

Identifying stakeholders
 Research both internal and external.
 Focus on groups that are directly affected by an outcome, influence and
have an interest in the overall outcome of a venture(Luque 2016).
 Conduct extensive research on traditional media and industry reports

Study Stakeholders
 Maximize the use of emails, phone and in-person meetings.
 Consider mission and objectives(Mok, Shen and Yang 2015).


Prioritize stakeholders
 Relevance.
 Visibility.
 Credibility.
 Influence.

Contact Stakeholders
 Contacting stakeholders to evaluate their interest in potential
collaboration.
 Relies on intelligence that has been gathered to identify connection that
can be used to develop opportunities(Agudo‐Valiente et al 2015).
 Evaluate more than one stakeholder.
 Use effective communication skills in order to determine the
stakeholders with more interest to a business.

Good stakeholder relationship
management
 Improves consumer’s experience.
 Quality services are important in differentiating brands(Garcia‐Castro
and Francoeur 2016).
 Implement an elaborate customer relationship management.
 Enhances automate of campaigns and customer communications.

External Environment
 Influence by politics
 Influence by economy
 Influence by technology
 Influence by social
 Influence by Environment, Naaranoja and Savolainen 2016).

Multi advocacy approach
 Pull communication represents one of the ways that stakeholders use to
influence decision concerning access to information.
 Partnership engagement approach relates to shared accountability and
responsibility with the nature of stakeholders relationship(Meixell and
Luoma 2015).
 Participation engagement approach suggests that part of the team is
involved in tasks and responsibilities for a particular areas of activity
and the dynamics involved limits the responsibility of the parties
involved.

References List A
 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. and Waddock, S., 2017. Unfolding stakeholder engagement. In Unfolding stakeholder thinking (pp. 19-42). Routledge.
 Andriof, J., Waddock, S., Husted, B. and Rahman, S.S., 2017. Unfolding stakeholder thinking: theory, responsibility and engagement. Routledge.
 Bellantuono, N., Pontrandolfo, P. and Scozzi, B., 2016. Capturing the stakeholders’ view in sustainability reporting: a novel
approach. Sustainability, 8(4), p.379.
 Boasson, E.L. and Wettestad, J., 2016. EU climate policy: Industry, policy interaction and external environment. Routledge.
 Bourne, L., 2016. Stakeholder relationship management: a maturity model for organisational implementation. Routledge.
 Bourne, L., 2016. Stakeholder relationship management: a maturity model for organisational implementation. Routledge.
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 Garcia‐Castro, R. and Francoeur, C., 2016. When more is not better: Complementarities, costs and contingencies in stakeholder
management. Strategic Management Journal, 37(2), pp.406-424.
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References List B
 Lim, J.S. and Greenwood, C.A., 2017. Communicating corporate social responsibility (CSR): Stakeholder responsiveness and engagement strategy to achieve CSR
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 Luque, S.L.H., 2016. Stakeholder relationship management in controversial projects: a case study of the Cape Wind Project using a feedback analysis model (Doctoral
dissertation, Massachusetts Institute of Technology).
 Madhavaram, S., Hunt, S.D. and Bicen, P., 2017, May. The FREE (Firm Resources and External Environment) Framework as an Alternative to SWOT: An Abstract. In Academy
of Marketing Science Annual Conference (pp. 49-49). Springer, Cham.
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 Mok, K.Y., Shen, G.Q. and Yang, J., 2015. Stakeholder management studies in mega construction projects: A review and future directions. International Journal of Project
Management, 33(2), pp.446-457.
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 Sánchez, M.A., 2015. Integrating sustainability issues into project management. Journal of Cleaner Production, 96, pp.319-330.
 Tantalo, C. and Priem, R.L., 2016. Value creation through stakeholder synergy. Strategic Management Journal, 37(2), pp.314-329.
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