11.In this assignment you will be asked to apply stakeholder management theory to the following scenario:
A public corporation of 980 employees manufactures a popular brand of garments (mostly jeans) that are primarily made and sold in the United States. It has a large contingent of employees in several small rural communities in the eastern United States and is the primary employer in all of those communities. Two of its 5 shops are unionized, but the union and management have a good working relationship. The company has traditionally marketed its clothing line as “Made in the USA” and attracted a bit of a “cult-like” following as a result, but an outside consulting firm has suggested that significantly greater profits are possible if a different strategy is employed. The corporation is subsequently considering whether to off-shore its manufacturing facilities to a poor nation to save money on labor. It would also discreetly discontinue its “Made in the USA” marketing ads and hopefully ride the wave of its previous marketing campaigns for a while. It is estimated that total cost per unit of production will be decreased by one third which equates to tens of millions of dollars.
Please write a 2- to 3-page paper in which you respond to the following:
Provide a paragraph summarizing the concept of stakeholder management based on your readings.
How do you think the following stakeholder groups in the above scenario will be impacted?
What would you recommend the employer described above should do?
Your 2- to 3-page paper should be double-spaced and in 12-point type.
Your paper should have a separate cover page and a separate reference page. Make sure you cite your sources.
Use APA style, and proofread your paper.
There is no way to run a business without other businesses. Shareholders, employees suppliers, customers shareholders, collaborators as well as public agents, competitors etc. are always around. The company is always expanding its economic activities in a particular area, taking into consideration the social, cultural and political elements that exist there (Pedrini Ferri and Pedrini, 2017). The management of stakeholders is first impression of CSR which is why some mix the two concepts, despite the distinct differences. Both have been in use from the start of the century, however, it’s difficult to pinpoint the exact definition of either due to of the speed at which they’re evolving (Ramachandran 2019). The past 40 years have witnessed an explosion to the popularity of the stakeholder approach. But the phrase “Stakeholder” is unclear since it is utilized in a variety of contexts by different researchers. Some argue that managing stakeholder is not within the realm of theories (Pedrini Ferri and Pedrini, 2017). Companies operating in today’s complicated and uncertain business environment require the practical effective, efficient and ethical structure that stakeholder theory provides. Cont…
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