Stakeholders Management and Corporate Performance Essay

The fruitful conveyance of corporations and systems rely on stakeholders' administration. By definition, a stakeholder is any individual, association or gathering which offer an influence on any particular program. Therefore, the control of stakeholders determines the performance and achievements of any corporation. As part of stakeholders in any corporation, my position can be well enhanced by the admissibility of my control as a key stakeholder towards the corporate culture management (Wolf, 2014). Junchen (2012) asserted that stakeholders' concept should be made in line with the management literature which is mostly concerned with the simultaneous enhancement of the interests of the financial objectives of the corporate organization (Wolf, 2014). The contention of stakeholders' theory is what enhances the interests of shareholders and prospective customers. Relative improvement of customer service performance is the basis for protecting customer interests which are usually in line with significant improvements.

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Stakeholders management is a procedure that must be achieved and controlled in a corporation as a way of enhancing the readiness of the corporation in achieving the goals and objectives. Junchen (2012) outlined that organization's culture relates to the performance of systems concerning predetermined culture. The best way to enhance organizational management to be in line with stakeholders' demands is through organizing corporate culture concerning diverse population (Junchen, 2012). Also, organizational commitment should be developed as a basis for enhancing corporate performance. Wolf (2014) mentioned that a series of communications and required personnel meetings are the backbones of the success of consolidated companies. Concerning Junchen (2012), the best corporate performance can be arrived at when stakeholders' rights are aligned with the organization's culture.

Corporate organizations' stakeholders enhance investment management as a way of reducing the fears of investments in risky but profitable businesses (Wolf, 2014). Corporate managements tend to make stakeholders to acquire the required power for expanding the facility's operations concerning improving the satisfaction of customers (Junchen, 2012). For instance, the stakeholders of any target and bidding market will always find a probable chance to identify the most appropriate chance for diversifying its investments (Wolf, 2014). Stakeholders tend to control the organization's adaptation features for setting up an internal integration that mostly enables a corporation to control the effects of lack of a shared common culture (Wolf, 2014). Shared culture management is mostly achieved by coming up with an appropriate corporate culture which is the basis for smooth stakeholders' management approaches. It is the role of the stakeholders of any target market to identify the required organization's investment.

Conclusion

In summation, you may have a rundown of the corporation as influenced by your work as a stakeholder in case corporate performance is not well enhanced in the management process. Therefore, the progress of any organization is usually achieved through proper management of stakeholders' practices which usually affect the operation of the managerial department. On the other hand, stakeholders' management offers grounds for enhancing the corporate culture that is connected to corporate performance. Managerial staff of any corporation needs to enhance organizational management to be in line with stakeholders' demands but by focusing on the need to enhance personnel diversity. Diversity management is the route for better stakeholders' practice in the control of any corporation. As a stakeholder, I would enhance my commitment to my organization by my desire to allude to the organizational culture.

References

Junchen, H. (2012). A Literature Review on Organization Culture and Corporate Performance. School of Management, Fudan University. Shanghai, China. doi:10.5430/ ijba. v3n2 p28.

Wolf, J. (2014). The Relationship between Sustainable Supply Chain Management, Stakeholder Pressure, and Corporate Sustainability Performance. Journal of business ethics, 119(3), 317-328.