Sample Thesis Paper
Stakeholders are an integral part of every organization and managing them effectively can be considered a difficult task but if an organization satisfies the need of its stakeholders then that organizations definitely progresses in both the short and the long run. A stakeholder can be treated as a person, group system or organization that directly or indirectly effects the actions of an organization. Stakeholders include customers, retailers, suppliers, competitors, legal agencies and etc. Suppliers and retailers might create a problem for the organization and total reliance on these stakeholders is not a viable strategy that is why effective strategies can be implemented in order to maintain a proper balance between stakeholders. Ineffective communication can derail an entire project and it can effect the organization in a negative manner (Scharioth & Huber 2003). That is the reason why proper management plan must be developed and a proper organizational process must be identified to effectively manage the stakeholders of the organization.
Stakeholders play an important role in every stage and right from the scratch they must be managed in a proper manner. Mismanagement of customers can tarnish the customer base of the organization and they might suffer losses. Similarly, if suppliers are not managed properly then proper distribution might not take place and the organization would suffer. Therefore, each and every stakeholder is of utmost importance (Scharioth & Huber 2003). The entire supply chain and business process must be designed properly so that the flow of products or services can be delivered efficiently to the customers.