Establishing Stakeholder Orientation Coursework Example | Topics and Well Written Essays - 250 words

Establishing Stakeholder Orientation - Coursework ExampleThe development of the world has made individuals realize that business has a persona that extend beyond economic wealth creation. Businesses possess a social role since they create externalities in the environment. For instance, proper enumeration of employees compensate for the cost that workers recover in working for the company. Organizations participate in stakeholder orientation for their own benefit and for the sake of stakeholders satisfaction (Maurer, 2007). In this sense, the stakeholders feel that the organizations take care of their needs.Stakeholder orientation seeks to pretend sustainable economic development by working with the employees, local community, shareholders, and the larger society (Ferrell, Fraedrich & Ferrell, 2013). This has a significant impact on honesty and fairness since integrated entities manifest as partners in societal development. When organizations emphasize on the satisfaction of their stakeholders, the larger society is highly likely to respect the profit making invention of businesses. In addition, it promotes information sharing, which makes the businesss activities and intentions clear. This enhances accountability as each party enjoys the incentive to practice