Role of stakeholder s

Educates stakeholders in the development process Negotiates priorities, scope, funding, and schedule There are several aspects about this role which I think are critical to understand: Product owners bridge the communication between the team and their stakeholders.

Role of stakeholder s

Moreover, it will no longer finance projects in environmentally sensitive ecosystems and will encourage clients that emit large amounts of greenhouse gases to design plans to reduce Role of stakeholder s offset emissions. JPMorgan Chase is actually the third U. The changes follow years of aggressive efforts by nongovernmental organizations NGOsinvestors, and activists.

Stakeholders, including NGOs, investors, and activists, as well as communities, labor, and consumers, are playing an increasingly important role in improving corporate behavior.

Some NGOs are using tactics of direct confrontation. Others have been working for Role of stakeholder s to create partnerships with companies in order to help them green their production, often in ways that actually save them money. Together, these are proving key strategies in compelling corporations to internalize the environmental and social costs that are often ignored in the mad race for profit.

This fear of public shaming-and the connected loss of profit and stock value-are what makes these "corporate campaigns" so successful. Unlike traditional campaigns against companies, such as boycotts, labor strikes, and litigation which remain important but often have limited objectivescorporate campaigns treat the targeted company more as a lever of change than as an end in itself.

Unlike them, banks spend billions to maintain strong brands and customer bases. These assets are essential, and thus exploitable vulnerabilities. And exploit RAN did. InRAN asked Citigroup to adopt a green lending policy.

While the company initially refused, after more than three years of protests, shareholder actions, and other irritating tactics, Citigroup finally recognized that lending to unsustainable industries would be more costly than profitable, while not lending to them would be worth its weight in free advertising.

Once Citigroup yielded, its antagonistic relationship with RAN evolved into a collaboration to ensure adherence to its new standards-a partnership that provided much free publicity to Citigroup. Meanwhile, RAN quietly drafted a letter to Bank of America asking managers to adopt a similar policy.

Bank of America, having witnessed the disruption that committed activists can cause by chaining themselves to bank doors, quickly realized that it was better to join the ranks of ecofriendly banks.

Role of stakeholder s

Within nine months, eight of the ten largest DIY stores had developed similar policies. Already, it has changed the practices of banks and DIY stores, as well as office supply stores and computer retailers. Today, just the fear of these campaigns or desire for good publicity can trigger change.

Inthe mining reform organization Earthworks launched its "No Dirty Gold" campaign. Forest Service in The Washington Post in which it criticized the building of a mine in a pristine wilderness area in Montana and used the example to highlight the urgent need for mining reforms-a first for a major jewelry company.

Beyond merely defensive reactions, these campaigns can sometimes lead to real leadership.


Investing for Change Along with the activist community, corporate campaigns usually involve another important stakeholder: In the United States, corporate law requires companies to consider above all the interests of shareholders. Generally this has led to the fixation on short-term profit, but as shareholders recognize that the lasting value of their investments depend on how companies address long-term risks like climate change and toxic chemical releases, shareholders are becoming a powerful force for change.

In corporate campaigns, activists use negative publicity to drag corporations to the negotiating table. But investors, as the owners of those corporations, have the right to "dialogue" with management, express their concerns, and ask the corporation to take action. Just putting issues on the table is sometimes enough to trigger a response.

InCalvert Asset Management Company, a socially responsible investment SRI mutual fund, sent letters to corporations listed in their Calvert Social Index that had no women or minority members on their boards of directors, and asked them to consider diversifying as they hired new board members.

Since then, 48 of these companies have added at least one minority member or woman to their boards and another 39 have adopted language that promotes increased diversity. As owners of corporations, shareholders have power to influence company policies through board elections and by filing resolutions that offer specific policy changes.

While resolutions are non-binding, companies often agree to policy changes in order to maintain positive relationships with shareholders and avoid bad publicity. Indeed, the most successful resolutions are not those that actually come to a vote since most shares are held by non-voting institutions, and resolutions are non-binding anywaybut the ones withdrawn by filers after management agrees to act on the issue.

Inaccording to the Investor Responsibility Research Center, investors filed resolutions regarding social or environmental issues with U. Of these, investors withdrew 87 after companies agreed to address issues ranging from animal welfare and climate change to political contributions and global labor standards.

Perhaps the most impressive investor initiative was a recent show of force this past May at the United Nations. However, to become an even more effective force for change, socially responsible investing will have to go mainstream. Although most major investors, such as universities and pension funds, do not consider social responsibility criteria when choosing investments, in some countries this is starting to change.

In the United Kingdom, for example, pension funds have been required since to disclose the extent to which their investment portfolios take into account environmental and social concerns-a law that has triggered similar initiatives in the Netherlands, Belgium, Switzerland, Sweden, Germany, and France.

In the short term, the power of SRI continues to come from shareholder advocacy.

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But as more dollars, euros, yen, and yuan are directed towards sustainable companies, this will pressure unsustainable companies to improve their records in order to compete for capital, in turn helping to transform the role of the corporation in society.

Supporting the Proactive While many NGOs and investors are confronting corporations, other NGOs are proactively seeking out corporations to help them improve their social and environmental records-as well as their bottom lines.

InEnvironmental Defense approached FedEx with an offer to help reduce the emissions of its delivery fleet. After realizing that this would provide a triple win-cost savings, good publicity, and reduced pollution-FedEx agreed.Stakeholder engagement is the process by which an organization involves people who may be affected by the decisions it makes or can influence the implementation of its decisions.

They may support or oppose the decisions, be influential in the organization or within the community in which it operates, hold relevant official positions or be affected in the long term. Role of the Stakeholder Role of the Stakeholder The role of an organization involves stakeholders; suppliers, employees, and consumers.

The role of the organization, the supplier and the employee is to provide a product or service that the consumer demands as to maximize profits for the shareholder or owners.

Throughout the Guidebook, reference is made to specific roles that must be performed by stakeholders at various times throughout the project management lifecycle. Stakeholders are the people or groups that are in any way affected by the new product or service.

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Role of Stakeholders As A Group The stakeholder is anyone who can positively or negatively influence the project, including the customers or users, the project manager and team, the project's sponsor, program and portfolio managers, the PMO functional managers within the organization, and external sellers that provide services or .

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What is stakeholder value approach? definition and meaning -