Stakeholder their importance and engagement

Stakeholder their importance and engagement Introduction Stakeholder is someone who has interest in any organization, project, or business institute. Stakeholder analysis is critical. Stakeholder analysis is a tool or a set of tools. This uses for generating knowledge about individuals and organizations. The main aim is to understand their behaviour, intentions, interactions and interests. This also helps to assessing the influence and resources they bring to bear on decision making or implementation processes. In general these stakeholder included staff, shareholder, owner, government, media, community, customer, supplier, creditor, trade union. Stakeholder analysis  used to identify constrain and conflict in  project management and  business administration. This information is used to assess how the interests of those stakeholders should be addressed in a  project  plan,  policy, program, or other action. Stakeholder analysis is a key part of  stakeholder management. Define the terms Terms of stakeholder refers to individual or groups who can effect or effected by a corporation activity. (Sevendsen, 1998) People who have direct or indirect effect on any project can called stakeholders. Stakeholder analysis is analyzing the attitude of stakeholder towards something (business, project, government). Stakeholder could be a person or group and they can react positively or negatively towards the project or business, government. According to their impact there are three types of stakeholders. Primary stakeholder: the person or group, who ultimately affected by the project .It could be negatively or positively. Customers, owners, employees, associates, partners, contractors, suppliers, people that are related or local people are normally the primary stakeholders. Secondary stakeholder: mainly the intermediaries, the person or group indirectly affected by organisation action. Secondary stakeholder could be the community. Key stakeholders: this group can be part of first two groups as well. They have significant influence upon or impact within any organisation. This happened when secondary stake holder got influence. For example community some time could create pressure if they are on legal ground. There is some suggestion by different writer about the method of stakeholder mapping According to Mitchell, et al. (1997) stakeholder is classed based on power to influence. However, according to Johnson and Schools (1993) Stakeholder analysis or stakeholder mapping has evolved in recent years as at method for analysing the likely interests and actions of stakeholders. Stakeholder analysis means assess the stakeholder according to their interest and influence. Stakeholders are categorised on a graph rating their level of interest against the power they possess to exercise those interests. The stakeholders in this way are broadly divided into four groups; low interest/low power (A), high interest/low power (B), low interest/high power (C) and high interest/high power (D). Stake holder mapping is strategic business tool, this identify deferent level of power and influence acquire by stake holder. It also examined the power stake holder can exert, the relative likelihood of them using the power, and their level of interest regarding the companys activities. The objective of this analysis is to find out which potential group or individual stakeholder is more likely to affect the company. Then the company need to decide how to attend those group or individual stakeholders. Stakeholders are divided in four groups.Presentation1.jpg Figure According to figure 1 section has low level of interest and low level of power. To explain this diagram the writer use Manchester united football club. So for Manchester United (MU) in section A would be press, government, UEFA (Union of European Football Associations) they all got little effort on MU. They also got low interest in MU fuctions.MU can informed them after any decisions made. Section D is included fans, player, staff, FA (Football Association), supplier. This group need to inform. They got low power on decisions make, but got high interest on MU events. Section C is lenders, sponsor they need to satisfy on any change or decisions made. As they got high power MU need to care full of any warning sing for them. Finally section D is the key players the owner (Glazer), who got the high interest power and high interest. They can make any strategic choice. Benefits Stakeholder analysis has been used as management and strategic tool identifying optional strategy and managing other stakeholder , identifying current and future opportunity and threat and how best to handle them (Blair and Fottler, 1996) the main aim is to how much and what kind of attention need pay to stakeholders. For any project knowing the stakeholder interest is vital. This could lead to project success and also the failure of any project. It is very help full to know stakeholder interest. This allows the project manager to become proactive. For example if there is project of building of gym .Then the project planer can implement the customer interstate(modern gym instruments) the same time they can think of government interest ,fire exist .Both stakeholder preference can prevent future implication. These possible could be losing customer and accuse by health and safety. This analysis helps to bypass the future complication. Moreover it saves cost of future change and penalty. Project often get failure, because of protest from stakeholder. Stakeholder can be motivated by the managers. There is a mechanism to influence these stake holders. The information about stakeholder can be used by the managers to make mechanism to influence stakeholders. Stakeholder analysis is a great tool to bypass any possible risks. This risk can come from any stakeholders. Recently BT took some steps to increase its share price. It establishes a telephone exchange in Hong Kong and did some more investment in telecom industry. This all increase their share price. But at the same time BT make huge dept. This was not expected by the shareholders. So BT needs to sell some of its assets to reduce the debt. This happened, because of not considering shareholder expectation. BT could easily bypass this risk by pre- assessment of the full stakeholder analysis. Key stakeholder need to be informed about the project during the implementation stage .GMPTE building the metro link train service in team side area. It is long time project and creates a lot of traffic jam in this area. GMPTE is giving update in press or internet to keeping all stakeholders inform about the project condition. This giving them the support against the complication faces by the traveller and complains. This lets them do the project without any interruptions. By getting the most powerful stakeholder opinion, project planer can shape their project at early stage. Moreover, there is possibility to have support from them. All combine input can improve the total quality of the project. By gaining support from the powerful stakeholder will give access to more resources for project. This can make project successful. Advance and continues communication with the stakeholders will insure the stakeholders the activity of the project and their benefits. This will lead them to give every support when necessary. By capturing people reaction can let the project planer to build the project and put action plan to win people support. Stakeholder analysis helps to set the parameter of CSR (corporate social responsibility). Early stakeholder analysis can give sufficient information about the project. Moreover it can help the managers to take decision in future as well, like CSR .Stakeholder analysis gives detail information about all kind of stakeholders, which they can use in future. CSR is one of the elements of core competence and it is easily gain by the stakeholder analysis. It happened mostly in retail sector .They use all stake holder data for marketing communication and assesses them as potential buyer. Stakeholder mapping classify stakeholders and recognize groups possibly can influence and be affected by corporation decisions. Stakeholder mapping helps to develop the interaction between stakeholder and organisation. This is base on the stakeholder interest. For example when any new Tesco store open they send newsletter to the local community to keep them inform. Because they got high interest, but contribute little power. Disadvantage A big limitation on this analysis is the environment change. According to Vrvasovszky Brugha( 2000) the environment, the context of analysis, stakeholder interest, position, alliance and influence change over time. Political context can change over time. There are more likely to sudden transformation in developing countries .Therefore stakeholder analysis is time prospective. If the analysis takes too long to finish, the situation can change. This change is mainly happened in political position and legislation. As they both can change suddenly. The analysis result could go wrong on the basis of meaning of validity. This is because the respondent stakeholder answers are base on his or her position. If the changes by the project are on their favour, they will give a positive opinion about the project. Alternatively if the project can harm their desire, they could do the opposite. In Bangladesh a government own organization the National Telecommunication Board was converting to private sector. This project was faced huge protest by its employee. It was because the change will harm their current position (Und, 2009). Analyst could be influenced by their own value, prospective and understanding the policy issue, which is essential to do the analysis. Most of the time the analysts are from stakeholder, or acting on behalf of stakeholders .They could think about their interest and use the analysis to picture their aim. Sometimes it is impossible to shape the project, as to satisfy different stakeholder. This happened when different staked holder has different interest and each oppose other. For example Tesco chain store is expanding all over UK. Recently they open a new store in Middleton, Manchester. When they built the store they need to build a leisure centre, to satisfy the council. This extra constriction cost was not accepted by shareholders. According to Tesco official (2011) to build a new store it takes about  £10 million for each supper store. This types of cost may be oppose by the shareholder and bring a conflict between stakeholders. This also encourages the project planer over budgeting and could lead to project failure. Analysing for big project, need to consider different level and different kind of stakeholders. It is very complicated to that, as it is hard to consider which stakeholders might have power and who do not. Conclusion On the base of discussion from different scholar, the writer comes up the summary of the report. Stakeholder analysis is vital for any project. Because it bring the fundamental thing of project constrain, success factor and risk. Moreover, it shows the stakeholder engagement with the project and brings their interest. In this report it also seen that it has some limitation. But those limitation can be overcome easily and have perfect analysis of stakeholder. The analysis can build right project plan and that is the major thing in project success.

My Hometown in the Vietnam

The Vietnamese proverb ‘dat lanh chim dau’, which means ‘wherever there is good soil, there are flocks of birds coming to settle down†, shows that people tend to move to a place in which they can live and make money in a fairly easy way. Ho Chi Minh City is one of the biggest cities in the south of Vietnam, which provides people with a great number of various jobs; therefore, people from many different parts of the country keep on moving to this city, hoping to find out their ‘paradise’. For those who have been living in this city for a long time, more than 10 years for example, their ‘used-to-be paradise’ is getting worse and worse. Sharing these ‘native’ citizens’ viewpoint, I strongly disagree with the flattering statement that Ho Chi Minh city is a much better place to live today than 10 years ago. Pollution is the first thing that makes Ho chi Minh City a worse place to live in. the layout of Ho Chi Minh City was established only for its five hundred thousand residents more than 100 years ago. Its drainage system has been overbooked to drain for a city of over seven million people nowadays. Consequently, the so-called ‘the pearl of the Far East’ is getting more and more polluted. Water pollution is only part of the pollution facing all the dwellers of this biggest city in Vietnam. The air pollution here is no less serious. Thousands of factories are still located inside this city and keep on releasing poisonous smoke. Various means of transportation, especially millions of motorcycles, do contribute to the ever-increasing air pollution in Ho Chi Minh city. The second thing that makes Ho Chi Minh City a worse place to live in is its high cost of living. Nowhere else in Vietnam do you have to pay such great sums of money just to lead a rather simple and really humble life. Food, public utility, means of transportation, tuition fees accommodation and a variety of private services such as tailoring, hairdressing, renovating, etc. here are all much higher than the so-called standard legal income of the majority of the city dwellers. Consequently, they have to struggle hard to make their two ends meet. They do not usually have time to enjoy themselves. In other words, a great number of these city-dwellers just earn enough money to be physical beings, not emotional or spiritual beings. Its increasing crime and disorder also makes Ho Chi Minh City a worse place to live in today than ten years ago. A number of the city dwellers, especially young illiterate guys of lower social classes, cannot earn their living legally. They allow themselves to rob or steal anything they can to satisfy their needs, irrespective of how serious the consequences of their frightening acts are. It is impossible for anyone who dares to live in Ho Chi Minh City to get rid of the lack of safety and order resulting from the above-mentioned kind of crime. In other words, the city dwellers have to face their fate/destiny every minute in their life. To tell the truth, I was born and grew up in Ho Chi Minh City and I am old enough to witness the tremendous, multifaceted changes and social reforms here. However, I can hardly say that I love my hometown very much because I am afraid that it does not deserve my love. Up to now, I have been trying my best to work hard and lead a simple but respectable life here. I do not dare to break any official law or well-established social rule. And I often jeer sarcastically at myself, saying how foolish I am in such a crazy, disorderly environment. Probably, you do not approve of my pessimistic perspectives; but that is me! †

How First Solar Company Can Use Motivations for Its Multinational Business Free Essay Example, 3250 words

The author of the paper states that First Solar is a fast-growing energy technology company that operates in many countries across the globe. The business was established by McMaster Harold in 1948. The corporation relies deeply on the marketing strategy of existing subsidies, as the only means for contributing to increased industrial investments. Subsidies reduce the costs of solar and increase competitiveness in relation to conventional generation. The first solar employs a business model and it focuses on a narrow value chain with the aim of benefiting from specialization. The vertical integration in the First Solar Company enabled them to enter into the new market in the United States. The downstream integration enabled them to achieve sustainable and long-term competitive advantage in the global market. Integration also enabled the company to compete with other favorably and eliminated the marginalization issues associated with the solar industry. First Solar employs also the business context of competition and technology in order to improve their business performance. First, the company employed technology that possessed varied inherent features that made the company suitable for photovoltaic deployment. They evaluated and employed new technology with hin the solar industry; thus, it had to perform varied functions. We will write a custom essay sample on How First Solar Company Can Use Motivations for Its Multinational Business or any topic specifically for you Only $17.96 $11.86/page

Reasons Behind the Case for School Choice

When it comes to education, conservatives believe that American families should have the flexibility and the right to a variety of school options for their children. The public education system in the United States is both expensive and under-performing. Conservatives believe that the public education system as it exists today should be an option of last resort, not a first and only choice. A majority of Americans believe that the education system is broken. Liberals say that more (and more and more) money is the answer. But conservatives argue that school choice is the answer. Public support for educational options is strong, but powerful liberal special interests have effectively limited the options many families have. School Choice Shouldn't be Just for the Wealthy Educational options should not only exist for the well-connected and wealthy. While President Obama opposes school choice and props up the education-affiliated labor unions, he sends his own children to a school that costs $30,000 per year. Though Obama likes to portray himself as having come from nothing, he attended the elite college prep Punahou School in Hawaii, which today costs almost $20,000 per year to attend. And Michelle Obama? She attended the also-elite Whitney M. Young Magnet High school. While the school is run by the city, it is not a typical high school and it closely resembles the way a charter school would operate. The school accepts less than 5% of applicants, highlighting the need and desire for such options. Conservatives believe that every child should have the educational opportunities that the entire Obama family has enjoyed. School choice should not be limited to the 1%, and the people who oppose school choice should at least send their kids to the school th ey want the regular folks to attend. Private and Charter Schools School choice would allow families to choose from a number of educational options. If they are happy with the education that the government provides, and admittedly some public schools are excellent, then they can remain. The second option would be a charter school. A charter school does not charge tuition and it survives off of public funds, however, it operates independently from the public education system. Charter schools offer unique educational opportunities but they are still held accountable for success. Unlike with the public education system, a failing charter school will not remain open. A third main option is private schooling. Private schools can range from elite prep schools to religiously-affiliated schools. Unlike with the public school system or charter schools, private schools do not run on public funds. Typically, expenses are met by charging tuition to cover part of the cost, and reliance on a pool of private donors. Currently, private schools are the least accessible to lower-income families, despite the per-pupil cost to attend typically being less than both the public school and charter school systems. Conservatives favor opening up the voucher system to these schools as well. Other educational opportunities are also supported, such as home-schooling and distance learning. A Voucher System Conservatives believe that a voucher system would be the most effective and efficient way to deliver school choice to millions of children. Not only would vouchers empower families to find the best fit for their children, but it saves taxpayers money as well. Currently, the per-pupil cost of public education is close to $11,000 across the nation. (And how many parents would say they believe their child gets an $11,000 per year education?) A voucher system would let parents use some of that money and apply it to a private or charter school of their choosing. Not only does the student get to attend a school that is a good educational fit, but charter and private schools are typically far less expensive, thus saving the taxpayers thousands of dollars every time a student leaves the status quo educational system in favor of a parent-chosen school. The Obstacle: Teacher's Unions The biggest (and perhaps only) obstacle to school choice is the powerful teachers unions who oppose any attempts to expand educational opportunities. Their position is certainly understandable. If school choice were to be embraced by politicians, how many parents would choose the government-run option? How many parents would not shop around for the best fit for their children? School choice and a publicly-supported voucher system would inevitably lead to a mass exodus of students from the public school system, thus endangering the currently competition-free atmosphere that teachers currently enjoy. It is also true that, on average, charter and private school teachers do not enjoy the salaries and benefits that their public counterparts do. This is a reality of operating in the real world where budgets and standards exist. But it would be unfair to say that lower salaries equal lower quality teachers. Its a valid argument that charter and private school teachers are more likely to teach for the love of teaching, rather than for money and benefits offered as a government employee. Competition Could Improve Public Schools and Teacher Quality It is likely true, similarly to how capitalism promotes private programs and diminishes public programs, a competitive private school system would require fewer public educators, but it would not mean a wholesale firing of public school teachers. Implementing these school choice programs would take years, and much of the reduction in the public teacher force would be handled through attrition (the retirement of current teachers and not replacing them). But this could be a good thing for the public education system. First, the hiring of new public school teachers would become more selective, thus increasing the quality of public school teachers. Also, more education funds would be freed up because of the voucher system, which costs thousands less per-pupil. Assuming this money is kept in the public education system, it would mean that struggling public schools could financially benefit as funds become more available.