BU111 Lecture 21: Lecture 21 2016-11-28
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29 marks of short answer (2-5 marks each) Customers are very powerful stakeholder because firms depend on them for. Stakeholders can be: revenue: threatening willing and able to create uncertainty. Create obstacles: cooperative willing and able to support. Diagnose them along two critical dimensions of potential for threat and potential for cooperation categorize them. Formulate appropriate strategies both to enhance or change current relationships with those key stakeholders a(cid:374)d to i(cid:373)pro(cid:448)e the orga(cid:374)izatio(cid:374)"s o(cid:448)erall situatio(cid:374) Potential for threat n o i t a r e p o o. Low l a i t n e t o. Must be managed most carefully as they can go in both direction. Nonsupportive: not supportive no matter what, maybe cause they are against you. Have the power to create obstacles for firms. Strategy: defend firm firm deciding on where to produce, environment. Marginal stakeholders: monitoring satisfy needs and/or demands of stakeholders; no need to involve or collaborate with them.
