ADM 1301 Lecture Notes - Lecture 2: Social Capital

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Stakeholder engagement: efforts by a corporation to understand and involve relevant individuals, groups, or organizations by considering their moral concerns i strategic and operational initiatives. Identify stakeholders and their influence: develop the organizational practices to understand stakeholders, undertake direct contact with stakeholders. Resource dependency theory a stakeholder that supplies a resources can exert some control over it: withholding strategies, stakeholder discontinues providing a resource, usage strategies, stakeholder continues to supply resources but specifies how it is to be used. Influence pathway: when withholding and usage strategies are used by an ally of the stakeholder. Framework for organizations to develop collaborative stakeholder relationships: creating a foundation, organizational alignment, strategy development, trust building, evaluation, repeat the process. Definition: any aspect of a corporation"s organizational arrangement that creates value and facilitates the actions of stakeholders within and external to the corporation. A technique of categorizing an organization"s stakeholders by their influence according to two variables; usually involves plotting them on a two-by-two matrix.

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