Stakeholder Approach Essay Example | Topics and Well Written Essays - 1250 words - 1

Stakeholder Approach - Essay Example This paper explains the needs assessment and the procedure involved and also what entails stakeholder approach. Each of the named individual and groups has varying roles and interests in the organization. Owners are interested in the profit function of the particular business. They also have a bigger say on the decisions of the key objectives. If in any case the owners only major their interest on the profits and do not consider the wages of employees they may end up losing very skilled personnel. Managers on the other hand are interested with their pay. Employees are also concerned since they desire to see the organization prosper so that their job is secured and their wages increased. Customers on the other hand want the organization to produce quality products at fair and affordable prices. If for instance any business does not pay attention to the needs of their customers, it may end up losing sales to their competitors. The Community gains since the local people are the ones who are employed but is also concerned with how the operations of the organization affect the local environment. Stakeholder analysis refers to variety of techniques and ways that are used in identifying and understanding the needs and expectations of all major parties that is both in the inside and the outside of an organization. This plays a major role in planning for any projects and training process. In any proposed project there happens to be supporters as well as opponents. Understanding the interrelationships between these two parties is necessary in project implementation and the systematic planning involved. It is therefore important to analyze stakeholder’s interests despite the sides they are in that are for the opponents and supporters. Some of the reasons as to why it is important to identify and analyze stakeholder’s interests are: (1) Achievement of fair deals. This is because all the