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.
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
Cite this page
Essay Example on The Stakeholder Model: Key Players Who Shape a Company's Fate. (2023, Nov 30). Retrieved from https://proessays.net/essays/essay-example-on-the-stakeholder-model-key-players-who-shape-a-companys-fate
If you are the original author of this essay and no longer wish to have it published on the ProEssays website, please click below to request its removal:
- Organization Theory, Behavior, Organic Organization, Mechanic Organization Mission and Vision Statement
- The Impact of Enron Corporate Culture to the Organization's Downfall
- Michel Kripalani and Oceanhouse Media Questions and Answers Example
- Essay Sample on Information Security Issues
- Analyzing Elements of Demagoguery in Kim Jong Un's New Year Speech Essay
- Essay Example on Amazon Stock: Rapid Increase Amidst Covid-19
- Cases of Data/Security Breach on the Rise: Causes and Effects - Essay Sample