Get free samples written by our Top-Notch subject experts for taking the Uk's No.1 Assignment Help from native Assignment Help.
The following study will elaborate that how a public sector organisation can plan for its strategic development to improve environmental contribution and issues at the industrial and management level. The entire report has four separated sections; the first section will discuss stakeholders' importance to an organisation's new development and implementation. The second section of the report will analysis that how stakeholders are important in order to understand an organisation's upcoming project through the various methods and logical business models. Presenting an effective pie chart will provide a comprehensive report on stakeholder investments and future activities. In third section, the report will produce some comprehensive factors of stakeholder analysis to explain the relationships between organisations and stakeholders. The final part of the report will conclude with a concise overview of the various stakeholder approaches and policies to maximise stakeholder legitimacy and importance in organisational and management features.
With the realism of weather change and environmental impact on economic growth and sustainable improvement, environmental issues have become a global concern for every industry and their individual works activity. The new technique of reality improvement generally focuses on sustainable and eco-friendly business practices, which helps to decrease industrial carbon emissions and protect the global environment for every species across the world. An organisation's environmental awareness practice should be adept at their broad stakeholders' energetic activity and mentality (Daher et al., 2019). Therefore, to develop a strategic development and contribution to global environmental issues, an organisation needs to hold an official meeting with their valued stakeholders and senior management team to understand and inspire them on how environmentally active participation can engage its social and community performance.
The activities and expectations of organisation stakeholders define major important factors of an organisation's business strategy and can help increase the value of the organisation or its service and product. Active participation of organisation stakeholders will always affect the organisation's financial and accounting results in a year (Javed et al., 2020). As the role of every business stakeholder in society is constantly changing, they always want to associate their affiliates with the socio-economic culture responsible for the global environment, especially for humanity and daily livelihoods. Furthermore, most stakeholders have recently wanted to link their personal movement to their environmental importance, such as using less paper and plastic bags, minimising coal and fuel uses for industrial purposes, avoiding fuel transport, and trying to recycle and reuse the natural energy to create an active footprint for environment and atmosphere.
At the time of strategic planning and development, an organisation needs to use the Element of Industry Environment handout model to understand its point of view towards its valuable upper management and stack holding institution and individual. Element of industry environment structure denotes the active participation of organisation's internal and external stakeholder's framework and help to understand how the environmental awareness planning will influence them financially and practically.
Figure 1: Element of Industry Environment
(Source: Created by the learner)
The different elements of stakeholders are described shortly below:
Suppliers are one of the most important stakeholders for an organisation; any new system and development strategy of the organisation must be linked to the suppliers and their views. To bond, A good relationship between suppliers and organisation the following development programme will defiantly invite every suppliers and dealer.
The organisation should arrange multiple programmes, events, and advertisements to convey to their clients about their new development strategy for global environmental awareness and useful practices. Customer satisfaction is the common goal of any organisation, so they need to understand the appropriate changes for the environment.
Competitors are the primary importance for any organisation's new rules and policies. In order to do business in a competitive market, an organisation should consider each of its competitors as an analysis of their stakeholders and respect their views and information on environmental well-being and performance (WNdegwa et al., 2020).
Regulators are the organisational units that authorise the task environment of an organisation. In order to implement new rules and regulations inside an organisation regulators committee of the organisation's internal and external departments are critically important for every organisation and industry.
Like competitors substitute products are the major compactors for an organisation. To implement any new rules and regulations, an organisation should always consider its product or service competitors regarding their activities and growth performance.
Strategic partners and individuals are the types of stakeholders who are going to invest or provide the full funds of the organisation for new implementation and strategic development. Strategic development can be customers, shareholders and employees, management and any external organisation or NGO (Chyhryn et al., 2020).
As mentioned in the discussion above, each stakeholder has been correctly identified with the organisation's new environmental awareness rules and policies. However, most stakeholders support the organisation in developing its new and independent environment within an analysis model and framework to support each stakeholder's individual and business mentality. An organisation must always keep pace with the corporation's growth to keep the organisation's performance in line with the needs and aspirations of the stakeholders, including socio-economic growth (Obeidat et al., 2018). An organisation does not get the success in its environmental development and activity without the support of its personal stakeholders. The company's management also convinces their stakeholders that if none of them is interested and does not benefit from their future environmental development, they can easily withdraw their investment and activities in a hassle-free and easy process.
To complete preliminary discussion among stakeholders of the organisation about development programs of environmental importance. Throughout the meeting and conference, every share and stakeholder of the organisation has been invited for their native interest in the upcoming project and how it can gradually move towards success. The project manager should prepare a chart of stakeholders' interest and investment in the development program and send the chart sheet to their personal mail and the company's official address within 10 to 15 days. The company may use another separate policy paper for security and protection purposes. Each stakeholder will accept each and every condition and circumstance of the project development, and their personal investment and future interests are also formally written in a corporate manner.
The next part of the report describes the next team meeting of the project, where efficient and effective stakeholder engagement policies and strategies will be introduced to increase the perseverance and importance of the upcoming project for its stakeholders and the organisation.
In order to start the initial distribution sheet for each stakeholder percentage and interest, the project manager should initially divide the entire stakeholders into three different categories: primary stakeholders, secondary stakeholders and tertiary stakeholders, respectively. Each of the individual stakeholders has their individual interest and acceptance rates for the organisation. Their active investment is also counted on behalf of their individual involvement and acceptance of the organisation.
Primary stakeholders can be individuals, groups and organisations because they directly affect the investment in the business and management of the organisation (de Oliveira and Rabechi, 2019). Most of the primary stakeholders purchase the organisation's product and service directly, so they want to show maximum interest in the new involvement and development of any management in order to invest more funds in the future involvement of the company and its day to day activities. In this situation, to improve and contribute to environmental issues and awareness, the organisation needs to rely primarily on its primary stakeholders and motivate them to make new investments.
Secondary stakeholders generally hold the majority of organisation shares and percentages, they generally used to believe on the organisation's long-term performance and need to focus on the organisation's growth, sustainability and future stability (Odor, 2018). Therefore, Organisations should focus on their secondary stakeholder interest in developing environmental issues and awareness of their new project. They should inspire organisations about the importance of developing their stakeholders and how it can actively increase the organisation's long-term sustainability and share values. Secondary stakeholders are very important for an organisation because they always invest their money heavily in an organisation, which is used for its goals and performance.
Tertiary stakeholders are different from the above-discussed stakeholders; they usually neither help any business decision or any product operations for an organisation. Tertiary users or stakeholders are those people who will be exaggerated by the use of antiques and later decide to buy the product from an organisation (Mudzingwa, 2021). In this case, tertiary stakeholders' involvement is very helpful for the design of the environmental awareness development; it can help understand the organisation about their flaws in developing a strategic program through their critical opinions.
A stakeholder mapping or distribution sheet is of great importance for an organisation when implementing new developments on environmental issues and awareness in an organisational and business manner. Stakeholder mapping is a visual process where higher management of the organisation and each stakeholder can individually identify their self-investment or self-investment group. The primary benefit of the Stakeholder Investment Chart below is a visual presentation for those people who are directly influenced and connected by the company's upcoming project and how other stakeholders have been involved in there too. Below, according to the latest update, the entire investment for the company's upcoming project is presented in an effective pie chart presentation.
Pie Chart 01: Stakeholder Investment Percentage Log
(Source: Created by the learner)
Stakeholder communication is a key provider for an organisation's performance and useful for its comprehensive project success. Sometimes, a visual presentation is not enough for some stakeholders; they do not understand much about the upcoming movement of the organisation and why they are investing their money and time for the future implementation of the organisation. Stakeholder communication is a very useful communication process when it stands to stakeholders' requirements, transparency, requirements, and accuracy. In addition, by pointing out and engaging different stakeholder groups and activities, effective stakeholder communication is massively helpful and keeps the upcoming project on the right and productive track (Norström et al., 2020). Therefore, some effective and essential way of stakeholder communication is critically helpful for stakeholders' needs and expectations and grows the organisation's growth and future performance.
Regular Email and e-Newsletter:
Daily email conversation is the most popular tool for effective stakeholder communication. It can immediately transmit many essential details to the stakeholders, such as information, customisable contents and immediate engagement report of open rates about the organisation. In these situations, the company's project management may regularly provide their individual stakeholders with the organisational activity notes of their upcoming project in the Email or personal dedicated address (Suutari et al., 2022). Companies can add a weekly magazine or e-Content about their future projects and repeatedly send it weekly and monthly to each stakeholder. This Content may consist of budget updates, photos, newsletters, graphs, contact information, new investors, expanding project plans, and more.
Automation in communication is very effective for daily updates; it can become massive improvised stakeholders' mentality about the project management and its future investment. The organisation can use an automatic Email sending application for its stakeholders to reduce the employee load and enhance efficiency. An organisation can use various Email automation techniques to customise their emails, such as dynamic contents, individual stakeholder information and creative and easier auto-presentation for specific client's needs and requirements. Visual attractive templates are also easier to understand and digest.
Project summary reports include presentation:
A project summary report is a traditional method, but a presentation attribute can very effectively use it. Presentations can be physical and virtual; physical presentations can be printed in daily newsletters and magazines. On the other hand, virtual or online presentations can be further enhanced by accepting their geographical area; they can be delivered worldwide with a single click (Reshef et al., 2020). The organisation can produce their monthly progress through a project summary report. This will attract their stakeholders to the organisation's future projects, and they can increase their interest in the organisation's future projects. The online presentation process is the most appropriate and effective method for organisations. They can create their own templates and slides. The information will be automatically linked to it and sent to each of their stakeholder's Email and official addresses.
Before starting a project, the first and foremost thing is to identify relevant stakeholders for the specific project; other than that, the relationship with the company’s stakeholders is essential to do a task more effectively (Brennan and Merkl-Davies,2018). It will help to build trust within the workforce to gain success. Critical thinking, confidence-boosting, and decision-making are some sectors that are positively affected by the excellent relationship with the stakeholders of an organization. A healthy relationship also increases the certainty of a project by speeding the process up.
The success of a project is primarily dependent on the relationship with the stakeholders. Several problems may arise while working together on a project.
Potential conflicts: Firstly, the stakeholders' differences in the objectives and thought processes create conflicts. Apart from this, most of the time, the higher authorities do not show interest in increasing the wages of the lower-level employees to seek high profits from the projects. This creates a disturbance and conflict in the workforce. A lack of opportunities or choice of the project also creates conflict (Zarewa,2019). Immense pressure from the higher authorities sometimes creates a conflictual situation, and the lower-level staff ends up doing protests. Exploitation using own position and only thinking about own profit are other reasons for conflict.
Possible ways to resolve the conflict situation:
Stakeholders have a considerable responsibility and power to get complete information about a project. They have full right to know about the progress or the speed of the projects. The stakeholders' influences, interests, and impact differ most of the time. The engagement plan should be made based on influential stakeholders (Collins et al.,2020). After monitoring the genre of interest, the stakeholder must be influenced timely to better the project. Monitoring and reviewing the stakeholders will help increase the project’s effectiveness. Success and failure can be monitored, and necessary measures can be performed to examine the loss.
Assessing the project will help identify and get rid of the roadblocks of the project. Information and feedback from the supporter and the opponents will help review the project more sincerely. It will also boost the engagement of the stakeholders in the project (Collins et al.,2020). Monitoring and reviewing can also be termed a confidence booster for the people associated with the project. All the team members should equally contribute to better the project. Viewing the project as teamwork rather than thinking own profit will be considered the best movement as a team. Most importantly, monitoring also can improve the communication between the members.
Monitoring and Reviewing this project: This particular project aims for an eco-friendlier measure for the organization. The organization seeks to reduce carbon emissions and waste by using reusable materials. It is also wanted to be more sustainable.
There are several methods to elicit stakeholders’ views on the policies. By analyzing the processes, it will be clear to understand the importance of the project and the policies taken by the project manager and team (Mogaji,2019).
Figure 02: Conceptual Model of Stakeholder Engagement
(Source: Brennan et al.,2018)
The information obtained from the above methods can be applied to taking sustainable and environment-friendly measures. The measures will be kept in mind at the meeting and discussion with the sponsor of the same project, the Director of Finance. The organization can get an idea of the risk factors and the areas for improvement (McCluskey et al.,2019) . It will not only help to strengthen the project but also will help to get the trust of stakeholders. All the employees will feel valued, and a balance can be maintained throughout the team.
Importance of Stakeholder validation and agreement: Stakeholder validation and agreement are essential for stakeholder engagement. Keeping in touch with the stakeholder will help validate the reasons for slowdown or failure. Continuation of validation is required to smoothen the process of progress (Pye et al.,2018). It also helps to detect the risk factors by forecasting the outcomes. The key stakeholder, also known as the decision-makers, also perform a vital role in formulating a policy and plan. They are responsible for choosing the appropriate approach for the organization.
The agreement between the stakeholders is equally important as it allows them to decide together by validating each fact observed by different methods of eliciting. Some other essential segments are related to the agreement. It provides the stakeholders the power to express personal problems related to the policies or plans.
Methods used to obtain validation and agreement:The above discussion explained the importance of stakeholder validation and agreement. The following techniques can be used for validation and agreement.
The report explained the importance of stakeholders in a project. By analyzing all the aspects of different stakeholder groups and their requirement and expectations, the report helped to show the need of stakeholders for a project. Different groups of stakeholders have different types of conditions and thought processes. The importance of building and maintaining the relationship with the stakeholders is also explained thoroughly in this study. The study also enlightened the crucial factors like monitoring and reviewing the stakeholders and their involvement. The engagement process of stakeholders by evaluating the project’s requirements is also discussed thoroughly. Several negative situations may arise during working on a project. These situations may cause harm to the organization as well as the project. To restore harmony, conflictual situations should be resolved. The process to avoid conflict and methods to elicit the stakeholder’s views on the policy are also mentioned in this report. Ways to get validation from the stakeholders are also discussed.
Brennan, N.M. and Merkl-Davies, D.M., (2018). Do firms effectively communicate with financial stakeholders? A conceptual model of corporate communication in a capital market context. Accounting and Business Research, 48(5), pp.553-577.
Brennan, N.M. and Merkl-Davies, D.M., (2018). Do firms effectively communicate with financial stakeholders? A conceptual model of corporate communication in a capital market context. Accounting and Business Research, 48(5), pp.553-577.
Chyhryn, O.Y., Bilan, Y.V., BilanYuriiValentynovych, Y.V. and Kwilinski, A., (2020). Stakeholders of green competitiveness: Innovative approaches for creating communicative system.
Cumyn, A., Ouellet, K., Côté, A.M., Francoeur, C. and St-Onge, C., (2019). Role of researchers in the ethical conduct of research: A discourse analysis from different stakeholder perspectives. Ethics &Behavior, 29(8), pp.621-636.
Daher, B., Hannibal, B., Portney, K.E. and Mohtar, R.H., (2019). Toward creating an environment of cooperation between water, energy, and food stakeholders in San Antonio. Science of The Total Environment, 651, pp.2913-2926.
de Oliveira, G.F. and Rabechini Jr, R., (2019). Stakeholder management influence on trust in a project: A quantitative study. International Journal of Project Management, 37(1), pp.131-144.
Dencik, L., Redden, J., Hintz, A. and Warne, H., (2019). The'golden view': data-driven governance in the scoring society. Internet Policy Review, 8(2), pp.1-24.
Di Maddaloni, F. and Davis, K., (2018). Project manager's perception of the local communities' stakeholder in megaprojects. An empirical investigation in the UK. International Journal of Project Management, 36(3), pp.542-565.
Javed, M., Rashid, M.A., Hussain, G. and Ali, H.Y., (2020). The effects of corporate social responsibility on corporate reputation and firm financial performance: Moderating role of responsible leadership. Corporate Social Responsibility and Environmental Management, 27(3), pp.1395-1409.
Lerbinger, O., (2018). Corporate communication: An international and management perspective. John Wiley & Sons.
Li, L., Collins, A.M., Cheshmehzangi, A. and Chan, F.K.S., (2020). Identifying enablers and barriers to the implementation of the Green Infrastructure for urban flood management: A comparative analysis of the UK and China. Urban Forestry & Urban Greening, 54, p.126770.
Lumpkin, G.T. and Bacq, S., (2019). Civic wealth creation: A new view of stakeholder engagement and societal impact. Academy of Management Perspectives, 33(4), pp.383-404.
McCluskey, G., Cole, T., Daniels, H., Thompson, I. and Tawell, A., (2019). Exclusion from school in Scotland and across the UK: Contrasts and questions. British educational research journal, 45(6), pp.1140-1159.
Mogaji, E., (2019). Strategic stakeholder communications on Twitter by UK universities.
Mudzingwa, K., (2021). Education stakeholders’ perceptions regarding the adequacy, role and effectiveness of the tertiary education curriculum in the preparation of potential school heads in Zimbabwe.
Norström, A.V., Cvitanovic, C., Löf, M.F., West, S., Wyborn, C., Balvanera, P., Bednarek, A.T., Bennett, E.M., Biggs, R., de Bremond, A. and Campbell, B.M., (2020). Principles for knowledge co-production in sustainability research. Nature sustainability, 3(3), pp.182-190.
Obeidat, A.M., Abualoush, S.H., Irtaimeh, H.J., Khaddam, A.A. and Bataineh, K.A., (2018). The role of organisational culture in enhancing the human capital applied study on the social security corporation. International Journal of Learning and Intellectual Capital, 15(3), pp.258-276.
Odor, H.O., (2018). A literature review on organizational learning and learning organizations. International Journal of Economics & Management Sciences, 7(1), pp.1-6.
Olawumi, T.O. and Chan, D.W., (2018). Identifying and prioritizing the benefits of integrating BIM and sustainability practices in construction projects: A Delphi survey of international experts. Sustainable Cities and Society, 40, pp.16-27.
Pye, S., Li, F.G., Petersen, A., Broad, O., McDowall, W., Price, J. and Usher, W., (2018). Assessing qualitative and quantitative dimensions of uncertainty in energy modelling for policy support in the United Kingdom. Energy research & social science, 46, pp.332-344.
Reshef, O., Aharonovich, I., Armani, A.M., Gigan, S., Grange, R., Kats, M.A. and Sapienza, R., (2020). How to organize an online conference. Nature Reviews Materials, 5(4), pp.253-256.
Suutari, A.M., Nordin, A., Kjellström, S., Thor, J. and Josefsson, K.A., (2022). Using stakeholders’ experiences to redesign health services for persons living with heart failure: a case study protocol in a Swedish cardiac care setting. BMJ open, 12(3), p.e058469.
W Ndegwa, P., M Kilika, J. and Muathe, S., (2020). The moderating role of external environment on the relationship between resource isolating mechanism and sustainable competitive advantage. International Journal of Management, 10(3), p.2019.
Wood, D.J., Mitchell, R.K., Agle, B.R. and Bryan, L.M., (2021). Stakeholder identification and salience after 20 years: Progress, problems, and prospects. Business & Society, 60(1), pp.196-245.
Zarewa, G.A., (2019). Barriers to effective stakeholder management in the delivery of multifarious infrastructure projects (MIPs). Journal of Engineering, Project & Production Management, 9(2).
Zeug, W., Bezama, A., Moesenfechtel, U., Jähkel, A. and Thrän, D., (2019). Stakeholders’ interests and perceptions of bioeconomy monitoring using a sustainable development goal framework. Sustainability, 11(6), p.1511.
Project Management For Civil Engineers 1.0 Ensuring Health & Safety...Read more
Introduction to Research Skills Assignment Get free samples written by our...Read more
Union Law Assignment Introduction Union Law Assignment Get free samples...Read more
Financial Decision Making Assignment Sample Introduction The study focuses...Read more
Developing Leadership And Management Skills Get free samples written by our...Read more
Economics for Management Decision Making Assignment Sample Question 1 Part...Read more
Get your doubts & queries resolved anytime, anywhere.
Receive your order within the given deadline.
Get original assignments written from scratch.
Highly-qualified writers with unmatched writing skills.
Ph.D. Writers For Best Assistance
No AI Generated Content
offer valid for limited time only*