Question

what is the concept that the management of a firm can use to influence its key stakeholders and bring them into agreement with its actions? Provide details.

Answer 1

Shareholder management and shareholder relationship management can be used by the firm to influence its key stakeholders and bring them to agreement with its action because these are focused at alignment of the interest of the stakeholders with that to alignment of the interest of the firm.

These management procedures are consistent of identification of the stakeholders and their recognition as well as acknowledgement.

Then the organisation is focused at knowing the interest of stakeholders and the influence of stakeholders interest on the overall organisation.

Then the organisation is focused at establishment of a communication management with the stakeholders and help them align their interest with the interest of the firm so that the overall potential of the company can be maximized.

Stakeholders management is also focused at influencing and engaging the stakeholders with the company and help them explore their interest with the interest of the company so this will help the firm to influence their key stakeholders and to bring them with agreement to the actions of the company.