PDO & NACA Stakeholders Expectations
1. Introduction
Do you know that 89% is the percentage of organizations that meet the expectations of their stakeholders! Moreover, petroleum development Oman (PDO) and National Association of Cancer Awareness (NACA) are one of these organizations that did meet the expectations of their stakeholders after years of experience, hard work, and support from the government and people. Furthermore, the main motive for achieving their goals is providing a better environment to the people and society in many ways through knowledge to get the benefit later. Nowadays, petroleum development Oman (PDO) and National Association of Cancer Awareness (NACA) are two successful organizations in Oman.
2. Background
Stakeholders are group of public who have a link with an organization in arrange to achieve success or in another word, anyone who is affected of affects an organization is considered to be a stakeholder. There are several types of stakeholders such as, managers, employees, owners, stockholders, loaners, Investors, customers, community, government, and suppliers. But, each type of them has dissimilar requirements.
Since the expectations of stakeholders group will differ, it is quite normal for conflict to exist regarding the importance or desirability of many aspects of strategy. In most situations, a compromise will need to be reached between expectations that cannot all be achieved simultaneously.
The followings are examples of stakeholders
1. Customers: Customers (buyers) play an important role to the organization since the profit depends on customers’ satisfaction. And they expect from the company to provide and supply a lot of goods in every time, high quality goods, with a reasonable pries, first-class serves, numerous pries offers, and to be always satisfied.
2. Suppliers: Suppliers as well affects and are affected by the organization since the organization is a buyer to the supplier so the supplier should provide high quality products or services otherwise it will loss its customer. And also they expect from the organization self respect for them, assumption, on time payment, some times prepayment is good to them, and first-rate treatment.
3. Government: The government is a stakeholder too since its policies and regulations such as the amount of tax the organization should pay affects the company. And they also expect from the organization to follow the rules and the regulations without troubles, to success in the business to have more tax rate, to build the country, and to help new companies in identical field.
4. Society: Society or community expect from any organization to provide a good environment so the organization should make sure that it is an environmental friendly organization, another thing that they want the organization to help them to offer for them a lot of careers.
The stakeholders are Raider Inc., PLB employees, Johnson printing owners and employees. Raider Inc. is a stakeholder because they must make a decision that impacts PLB. PLB employees are stakeholders because morale can be impacted by the
With annual revenue of US $19.02 billion, Chevron Corporation is the 16th largest integrated oil and gas energy company in the world. Globally they account for a workforce of approximately 62,000 (Forbes 2011). In 2010, the company produced 2.763 million barrels of oil per day (Chevron 2012). Corporations as large as Chevron owe a great amount of responsibility towards the society and environment above and beyond the economic and legal obligations. The industry is strongly linked to environmental scandals and companies make various efforts to address these issues (Farache and Perks 2010, 235). The following thesis will review the Environmental performance of Chevron in terms of fulfilling social needs within society and stakeholders.
People organization or groups that have a direct or indirect interest in a one particular organization or surrounding are called stakeholders.
A stakeholder is anyone whether involved or not involved that is interested in an outcome to a situation (Editorial Board, 2015).
Earl Sasser Jr. discusses why customers matter in his lecture because customers are essential in every business that have been created. He began by providing a story about a local grocery store in Norwalk Connecticut that kept expanding. Their customers were dedicated to making their store the best it could be by providing suggestions and participating in focus groups that concluded in results from the suggestions. Sasser wanted to show businesses that were not efficient in their customer care why their customers should matter because there are some companies who have leaders that have instilled these ways in their companies but there are some that neglect the fact that their customers do matter. Sasser says that if you listen to all the CEOs
Stakeholder is anyone with an interest in a business; stakeholders are individual, groups or businesses. They are affected by the activity of the business. There are two types on stakeholders who are internal and external. Internal stakeholder involves employees, managers/directors and shareholders/owners. External stakeholder involves suppliers, customers, government, trade unions, pressure groups and local and national communities.
Identifying stakeholders for an intervention is essential. Stakeholders are all of the individuals who are affected by and issue or problem (BOOK). The stakeholders are going to be the individuals who can work towards changing the problem and who deal with the concern at the front lines (BOOK).
As you can see from the points above it is vital to give good customer
Hence, the stakeholders which are described as those who are affected by the organisation performance ,actions and duties and those actions includes employees, clients, local community and investors as well. The theory of stakeholders also suggests that it is the responsibility of firm to make sure no rights of stakeholders are dishonoured and make decisions in the interest of stakeholders which is also the purpose of stakeholder theory to make more profit and balancing it while considering its stakeholders (Freeman 2008 pp. 162-165). In the other words organisation must also operates in a more socially accountable approach by carrying out corporate social responsibility as (CSR) activities.
Regarding to organizational stakeholders, there are three main groups of stakeholders: customers, employees and investors. The company attempts to link stakeholders’ needs and expectations to the company’s goals. For customers, the company must treat them fairly and honestly. For employees, the company needs to treat them fairly, make them a part of the company and respect their needs. For investor, managers should comply with the accounting procedure, do not manip...
Close to the Customer: Customer satisfaction is very important throughout all the roles that the business plays. Many companies forget about their customers, whereas successful companies have an obsession with their customers. Excellent product quality and reliability will make a satisfied customer. Great service will keep the customer coming back.
Stakeholders’ analysis is the analysis which tells that how the company is dealing with the people which are directly or indirectly related with the company’s operations. These are called stakeholder and they include the employee, society, suppliers, buyers, shareholders, got and other tax related companies.
Stakeholders are those groups or individual in society that have a direct interest in the performance and activities of business. The main stakeholders are employees, shareholders, customers, suppliers, financiers and the local community. Stakeholders may not hold any formal authority over the organization, but theorists such as Professor Charles Handy believe that a firm’s best long-term interests are served by paying close attention to the needs of each of these stakeholders. The modern view is that a firm has responsibilities to all its stakeholders i.e. everyone with a legitimate interest in the company. These include shareholders, competitors, government, employees, directors, distributors, customers, sub-contractors, pressure groups and local community. Although a company’s directors owes a legal duty to the shareholders, they also have moral responsibilities to other stakeholder group’s objectives in their entirely. As a firm can’t meet all stakeholders’ objectives in their entirety, they have to compromise. A company should try to serve the needs of these groups or individuals, but whilst some needs are common, other needs conflict. By the development of this second runway, the public and stakeholders are affected in one or other way and it can be positive and negative.
Stakeholders refer to individuals or groups of people that have an interest in a business. Management argues that as long as there is wealth for shareholders, then anything is done in a responsible manner and things should be done to promote the interest of other stakeholders.
As Peter Duckers has put it, "The ultimate aim of all business organisation is - to create a customer". These days, for most products and services, the market belongs to the buyer. The customers e...