Essay Example on The Stakeholder Model: Key Players Who Shape a Company's Fate

The stakeholder model of a company shows the importance of fundamental relationships and stakeholders' control levels in the organization. Stakeholders considerably affect the activities of the company because they are the core decision-makers in the organization. The key stakeholders are the providers who supply raw materials, users who consume the end products, and influencers such as the government as well as trade unions. Every founder of a company understands the need to involve the stakeholders in making changes in consideration of the organization's vision (Bakari et al., 2017). A successful change initiative will be determined by the communication skills, consultancy, and involvement of these people.

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An open line of communication between the owners and stakeholders helps with the changes occurring in the company. This enhances the smooth running of the activities of the organization. However, the stakeholders may be anxious about the changes the company wants to make. This may lead to denial, and thus the owners have the task of making them understand how significant the difference is and the positive effect on the organization's progress (Bakari et al., 2017).

The change leader has the role of ensuring that everyone accepts the change and contributes to its success. The first step involves dealing with the negative attitude of the employees and stakeholders. The most common attitude is a breakdown or lack of communication (McMenzie & Lundquist, 2019). In such a scenario, the change leader is forced to address each employee and stakeholder at an individual level. Also, the change leader should involve everybody in researching the reason for the change, and where and when to be implemented it (Vos & Rupert, 2018). In this instance, individuals opposing the change will feel involved and thus adapt to it. A significant change leader in an organization is essential in accelerating change initiatives and the organization's long-term success.

References

Bakari, H., Hunjra, A. I., & Niazi, G. S. K. (2017). How does authentic leadership influence organizational change? The role of employees' perceptions: Integration of theory of planned behavior and Lewin's three-step model. Journal of Change Management, 17(2), 155-187. https://doi.org/10.1080/14697017.2017.1299370

McMenzie, J., & Lundquist, A. (2019). Managing change in the absence of sense: An interpretive case study on how the non-management of meaning can affect the performance of organizational change initiatives. https://lup.lub.lu.se/luur/download?func=downloadFile&recordOId=8989392&fileOId=8989393

Vos, J. F., & Rupert, J. (2018). Change agent's contribution to recipients' resistance to change: A two-sided story. European Management Journal, 36(4), 453-462. https://doi.org/10.1016/j.emj.2017.11.004