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Chapter 4

ADM 1101 Chapter Notes - Chapter 4: Stakeholder Management, Social Capital, Corporate Social Responsibility


Department
Administration
Course Code
ADM 1101
Professor
Kevin Petit- Frere
Chapter
4

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Chapter 4: stakeholder relations and analysis
Basic stakeholder analysis
- Stakeholder engagement:
o Efforts by a corporation to understand and involve relevant individuals, groups, or
organizations by considering their moral concerns in strategic and operational
initiatives
Moral concerns
- Corporation can increase understanding of stakeholders by asking the following:
1. Who are our stakeholders?
2. What are their stakes?
3. What opportunities and challenges are presented to our firm?
4. What responsibilities (economic, legal, ethical, and philanthropic) does our firm
have to all its stakeholders?
5. What strategies or actions should our firm take to best deal with stakeholder
challenges and opportunities?
Stakeholder management Capability
- The ability of managers to:
o Identify stakeholders and their influence
o Develop the organizational practices to understand stakeholders; and
o Undertake direct contact with stakeholders
Stakeholder Matrix Mapping
- 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
o Y-axis: oppose or support corporation
o X-axis: importance of stakeholders
Diagnostic Typology of Organizational Stakeholders
- Type 1: supportive stakeholder and strategy (involve)
- Type 2: the marginal stakeholder and strategy (monitor)
- Type 3: the non-supportive stakeholder and strategy (defend)
- Type 4: the mixed-blessing stakeholder and strategy (collaborate)
Stakeholder Identification and Salience
- Salience
o Degree to which priority given to competing stakeholders
- Power
o Ability to get firm to do something that it would not otherwise do based on force,
threat, incentives, etc.
- Legitimacy
o Perception or assumption that actions of firms are desirable, proper or appropriate
- Urgency
o Degree to which stakeholder’s claim or relationship calls for immediate attention
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