Stakeholders in strategic management Essay Example | Topics and Well Written Essays - 2000 words

Stakeholders in strategic management - Essay Example In fact any commercial organization can blueprint a very wide constituency of its stakeholders. It's not a misnomer to call such interests as stakeholders- a connotation which is far superior to that of a lender. In fact the term stakeholders itself indicates that the organization concerned functions with such stakes in mind. Therefore no organization can afford to function ignoring its stakeholders. In fact it consciously builds within its policies, obectives and reporting systems accountability to such stakeholders and often takes up structured reporting to communicate the extent to which such interests are protected. On the obverse side of the coin, strategic management is scientific practice of ensuring that any organization not only functions remaining on course to achievement of its vision and long term objectives but also that such objectives and visions can be broadened, widened and deepened according to changing environmental realities. While stakeholders are also scattered in its environment generally most organizations view the essence of strategy formulation as coping with competition (Porter, 1979) and they formulate a strategic structure accordingly (Chandler, 1962). This is rather a narrow view of strategy making which only reckons with competition. In fact both management strategies and business strategies should coalesce to form one unique strategy that addresses and monitors the interests of all stakeholders as the organization competes and grows. Strategic Construct Any strategic action plan has to be supported on the constructional skeleton of strategies, tactics and structure. Several strategic constructs have been put forward; however very few are exhaustive enough to ensure a complete environmental scan so as to consciously build stakeholders' concerns. Stephen Haines' Centre for Strategic Management has built a new strategic planning system based on systems thinking and calls it the 21st Century Yearly Strategic Management System and Cycle. This system moves beyond planning into implementation. It includes a Plan-to Plan phase and a Plan-to-Implement phase. The steps include team building and leadership skill building as part of the planning. It also includes a parallel process whereby all key stakeholders are involved based on the premise that 'People support what they help create'. This process starts with a Futuristic Environmental Scan and defines the ideal vision in terms of mission, values and end outcomes that the organization wishe s to set for itself. Only after the statement of such Ideal Future a Current State assessment based on SWOT(Strengths, Weaknesses, Opportunities and Threats) is taken up to identify the gaps and make strategies to close the gap(s).As a result of their clients adopting this model it was found that clients began developing competitive edge and the organization was much clearer on what their competitive "positioning" in market place was and found themselves moving positively in that direction, to the delight of their customers(Haines,2004).Thus this process leans directly into the process of competitive strategy making as it includes

History Essay Example | Topics and Well Written Essays - 750 words - 31

History - Essay Example One of the adherent causes named by many historians is the political conflict that existed at that time. This was the conflict between the monarchy and the nobility over the reform of the tax system that led to paralyses and bankruptcy. This was caused by the enormous amount spend on previous wars, particularly the financial upheaval caused by the French participation in the American revolutionary war. It increased the national debt to between 1000 and 2000 Livres. Secondly, the French revolution was caused by the social burdens caused by the war. This included the huge debt caused that was made worse by the loss of France’s colonial possessions in North America and the increasing dominance of Great Britain. At the time, France had an inefficient and antiquated financial system that was unable to manage the national debt. This was partially caused partially by the burden of inadequate system of taxation. This caused the king to call for an assembly of nobles in 1787. Another cause was the indecisiveness’ of the King of France at that time. He was known as King Louis XVI. It was perceived by the residents of France that the royal court of Versailles was sequestered from and unresponsive to the hardships of the lower classes. King Louis monarchy was an absolute monarchy and this accelerated the revolution, as citizens were unsatisfied with the administration. Stiff resistance from the nationals and the parliament faced this. He reduced the government spending while the parliament successfully thwarted his attempts to enacting the much-needed reforms. The forth cause of the revolution was resentments and aspirations that were given focus by the rise of enlighten nobles. These included the resentments of the royal absolutism. It aimed at eliminating the absolute monarchy system of government. There were also some upheavals that were caused by the peasant farmers, laborers and the poor people from that country.