Stakeholder theory and Strategy Essay Example | Topics and Well Written Essays - 6000 words - 1

Stakeholder theory and Strategy - Essay Example Subsequently, the study elucidates how significant stakeholder relationships are in a firm’s enduring existence and survival. Likewise, the paper attempts to concisely illustrate the importance of firms’ employing stakeholder management in their day-to-day operations at the same time succinctly presents how the use of stakeholder analysis can advance corporation efficiency and facilitate a corporation’s effectual policy/decision-making. For the investigation’s methodology, it makes use of the qualitative research employing the interpretivist/inductive stance mode of inquiry. It then concludes with the premise that stakeholders can provide the firm with access to the resources and capabilities that they own, create, and control only if the corporation promotes the stakeholders’ interests or stakes and thus offers the stakeholders opportunities for achieving their objectives. This premise directly follows from the dynamics that create organizations stating that an organization is an amalgamation of people who interact with each other in particular and often repeated ways over some period of time. To attract people to its activities and thereby to assure its continued existence, an organisation must bring some form of benefit—whether psychological, social, cultural, professional, or economic —to the people who participate in its activities. The word stakeholder is compellingly authoritative (Phillips, Freeman, & Wicks, 2003) due to its all-inclusive and at the same time logical depiction of how organizations conduct their business and day-to-day existence. In his pioneering work, Freeman (1984) recommended a stakeholder method to strategic management, inferring that it is imperative for organisations to pay attention to those who affect and are affected by the corporate actions. From that time on, stakeholder theory has become a ‘middle-of-the-road’

Research paper related to economic history Example | Topics and Well Written Essays - 1000 words

Related to economic history - Research Paper Example For instance, in the case of natural resources, a country that exploits its resources efficiently will be more industrialized and developed as compared to a country that has left its resources idle. Therefore, the topic of economic performance in a country mainly deals with economic growth and development. The economic performance of a country refers to a combination of the country’s economic growth and development. Economic history asserts that a country’s economy could be growing yet leaving the country underdeveloped. Therefore, in order to assess the country’s economic performance, it is essential to address both the level of growth, and the level of development (Grabowski et al. 18). Generally, countries develop depending on the available growth. In economic history, different scholars define economic performance differently. For instance, while the physiocrats viewed agriculture as the main source of wealth, Adam Smith defined labor as the key source of wealth in a country. History of economic thought also identifies other economists such as Thomas Malthus who discussed population as being a key factor, which could hinder economic performance in a country. Malthus viewed population as a factor that a country ought to control in order to improve economic performance. Therefore, combining the works of all previous economists, economic history identifies the key factors affecting the economic performance of a country as discussed below. The level of the population in a country determines the overall production of the country. In addition, it also determines the GNP per capita of a country thus, determining the economic performance (Grabowski et al. 30). In economic history, the mercantilists asserted that high population was indeed favorable for the growth of the country since, it would ensure sufficient labor supply. On the other hand, other economists in economic history such as Adam Smith asserted that a high population is not a surety of