Manage for Stakeholder Interests

Strategic management is entering a new era in which stakeholders’ interests are more important than before and there is a greater concern for social responsibility. Communication is extremely important in understanding the expectations of stakeholders in terms of achieving organizational effectiveness. Stakeholders must have a way to communicate back to the organization in regard to their perceptions of the annual objectives and policies in place and the overall effectiveness of the organization. When stakeholders have so many options to invest money, organizations must ensure that the lines of communication stay open in both directions so the stakeholders keep their money with the organization.

In a paper, evaluate the current practices involved in communicating objectives and policies to external stakeholders and the practices for allowing external stakeholders to communicate their concerns and expectations for organizational effectiveness back to the leadership of the organization. Justify the need for establishing annual objectives in order to make this happen. Include examples from either your own organization or one with which you are familiar to illustrate your ideas.

Support your paper with a minimum of five (5) external resources. In addition to these specified resources, other appropriate scholarly resources, including older articles, may be included.

Length: 5 pages not including title and reference pages. please all sources must have dates.