Stakeholders Are An Important Factor For Any Business

Stakeholders are an important factor to any business, because their actions can determine certain business outcomes. Target states that â€Å"Engaging with our stakeholders and listening to their ideas, concerns and perspectives is vital to the success of our business. Going forward, we (Target) will continue to shape our approach to stakeholder engagement to be more collaborative and partnership-oriented to identify opportunities, focusing on improving how we incorporate stakeholder viewpoints into business decisions.† (Stakeholder Engagement, n.d.). Target has identified a total of six different stakeholders. The first type of stakeholder Target identifies is guests. A guest is person that shops in their brick and mortar locations and online at Target.com. Target currently engages with its guests through receipt-to-online surveys, input from the Guest Relations team, who responds directly to guest inquires, face to face interactions every day in stores and also through focu s groups. The second stakeholder is team members. Team members include Target’s current, prospective and even retired employees in any store, distribution center, global sourcing offices and headquarters locations. Engagement with team members takes place through confidential surveys, internal communications, an Integrity hotline and Diversity Business Council meetings. Another type of stakeholder is a policy influencer, which can be at National, state and local elected and appointed officials and tradeShow MoreRelatedBusiness Intelligence Strategy877 Words   |  4 Pageseverything has been computerized. Agility and mobility of business has been increasing rapidly over the years. As modern business grows, Business Intelligence (BI) has become an important part in supporting decision-making process in an organization. However, it is not an easy task to implement a BI successfully. 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This is a major issue because the companys armed response at this point has resulted in it becoming involved in the conflict and therefore responsible at least in part for the subsequent refugeeRead MoreHow To Communicate With Stakeholders In Crisis Communication Case Study1734 Words   |  7 PagesAs stakeholders play such an important role in shaping an organization’s reputation, this study now turns to define what a stakeholder is and how to communicate with stakeholders in the case of crisis. Many communication scholars (e.g. Cooper, 2003; Dougherty, 1992; Gray, Owen, Adams, 1996; Lerbinger, 1997) have asserted that stakeholders are a group of people, or public, that mutually influenc e an organization. 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In this piece, I am looking to investigate the importance of shareholders, their interests, environmental thoughts, and their adverse to success. Stakeholders are very important in todays modern society, as they can hold the key to the companys success. They take care of the financial Read MoreThe Mass Decline Of Stakeholder Satisfaction1474 Words   |  6 Pages1.0 KEY ISSUES The main issue that Lululemon is facing is the mass decline of stakeholder satisfaction, including customers and shareholders, associated with general public criticism regarding actions of the company prior to the recall of the Luon yoga pants and the management of damage control and the recall. Specifically, these criticisms were targeted at the quality of the Luon pants, the comments made by the company regarding the pants, the controversial advertisements in their stores, theRead MoreUses Of Financial Statements : A Profit And Loss Account959 Words   |  4 Pagesperiod† (Jeletic, 2012, pg. 325). In addition, income statements also inform external users of net profits or losses from the corporation s equity position during an accounting period. These data are valuable to a company’s stakeholders, respectively. Some external stakeholders may utilize this information to highlight potential risks, financial strength, the yield on investment and operational abilities of a company (Carrahera Auken, 2013). Shareholders’ Equity Statement A shareholders’ equityRead MoreEssay Coca Cola Case Study854 Words   |  4 Pagesperformance and social responsibility? Develop a list of factors or characteristics that different stakeholders may use in assessing corporate reputation. Are these factors consistent across stakeholders? Why or why not? Corporate Reputation is extremely important when considering the role that it plays regarding organizational performance and social responsibility. A companies overall success or demise mainly relies on its reputation. In Business Ethics, corporate reputation is defined as one ofRead MoreHow Sustainable Development Urban Areas Is Wicked Problems For Modern Share Economy Businesses Such As Uber And Dropbox1070 Words   |  5 PagesAirbnb. A wicked problem is defined as a social or cultural problem that is difficult or impossible to overcome. Some of these problems are encountered by businesses, Uber and Airbnb which are effected by complex economic, legal, political and social factors. The share economy is known as a socio-economic ecosystem built around the sharing of human and physical resources (Matofska, 2014), they are also often referred to as peer-to-peer (P2P) networks where consumers are able to connect with sellers/providers