Analysis Of The Boeing Company

In a more recent study, Carlon and Downs (2014) found that The Boeing Company did a good job of identifying stakeholders on certain projects along with recognizing the value of properly identifying stakeholders; in addition, The Boeing Company now lists the names of their stakeholders on the company’s financial and nonfinancial disclosures as assets. Boeing’s stakeholders and their interactions with the company have been valued at adding approximately 0.6% to the company’s bottom line, which equates to about $579 million (Carlon & Downs, 2014). In Didraga (2013) study, we can see that when stakeholders are properly identified early on projects, not only do they contribute to the success of projects, but they also add value monetarily because

In a more recent study, Carroll and Shabana (2010) conducted research that examined the negative effects of poor interactions between stakeholders and companies. The findings show that companies that had poor interactions with their stakeholders were not effective in reducing cost and risk, they were perceived as not being legitimate companies, the company’s reputation was negatively impacted, there were no company competitive advantages that existed, and no synergistic relationships were observed (Carroll & Shabana, 2010). In this study, we can see how the poor stakeholder interactions with their companies can hinder a company in many ways. This study is important to understanding the problems that stem from having multiple stakeholder definitions; first, stakeholders cannot be identified, second, stakeholder expectations and requirements go unidentified, third, because stakeholders are not identified company interactions with stakeholders is

The role of stakeholders in project management can range from supporting activities such as defining project goals to assessing project risk (Silvius & Schipper, 2014). One common trend in the literature is that no matter what the stakeholder role is, stakeholders should be identified early so that the interactions with the company add value (Fageha, & Aibinu, 2013; Lucae, Rebentisch, & Oehmen, 2014; Turner & Zolin, 2012; Silvius & Schipper, 2014). When the project manager neglects to identify stakeholders at the start of a project, having positive interactions with stakeholders might be limited as the project matures (Hagen & Park, 2013; Allen et al., 2014). Turner and Zolins (2012), Lucae, Rebentisch, Fageha and Aibinu (2013), and Oehmen (2014), agree that stakeholders should be identified in the initial stages of managing projects, mainly during the project planning stage; however, this is difficult to achieve due to the multiple meanings of the term stakeholder (Fageha, & Aibinu, 2013; Doh & Quigley, 2014). In the project planning stage, the following activities must be fulfilled: scope planning, stakeholder identification, stakeholder engagement, communication planning, cost and schedule estimation, funding, procurement planning, quality planning, resource planning, and risk management planning (Fageha, & Aibinu, 2013; Lucae, Rebentisch, & Oehmen, 2014; Poplawska et al., 2015). Stakeholder identification and stakeholder engagement