Organizational stakeholders Essay Example | Topics and Well Written Essays - 250 words

Organizational stakeholders - Essay Example The external are those outside the organization but still has interest in the organization such as the regulatory agencies and the general public. It is important to understand the role of stakeholders so that the company can act responsibly to its various stakeholders. This understanding of the interest of the various stakeholders in the company can serve as a guide for the company as it craft its strategy and executes its operations making sure that these strategies and corporate acts are consistent with the interest of the various stakeholders of the company. The internal stakeholders have a direct interest in the success of the company but it must be balanced with the interest of the external stakeholders. Minding the interest of internal stakeholders alone may make the company short sighted in its pursuit of satisfying the interest of profit of its internal stakeholders. It should be balanced with the interest of the external shareholders to ensure the long term going concern of the company as it balances its interest for profit with social responsibility. "Understanding Organizational Stakeholders for Design Success."Â  Boxes and Arrows Understanding Organizational Stakeholders for Design Success Comments. 6 May 2004. Web. 8 Mar. 2015.