Question

Question: Prepare a stakeholder analysis of a small private magazine company using the five steps below.

Step 1: Who are our stakeholders?

Step 2: What are our stakeholders’ interests and claims?

Step 3:What opportunities do our stakeholders present?

Step 4:What economic, legal, ethical, and philanthropic responsibilities do we have to our stakeholders?

Step 5:What should we do to effectively address the stakeholder concerns?

Thank you in advance for your help!!

Answer 1

Stakeholder Analysis of : Acme Publishing Centre. (APC)

Acme Publishing Centre is the small private organization which prints magazines and journal's in New Illinois , and distributes it to the local market.

Step 1) The major stakeholders of Acme Publishing Centre include the list of following parties :

Authors and Writers : They are the people who will act as Suppliers for organization and supply with important material, content, stories information etc which can be filtered and put to use for magazines.

Regulatory bodies : These include the publishing houses, Informational bodies and government framework established for Publishing companies so that content published does not violate the rules and framework of these regulatory bodies.

Printing Press or Paper Agency : The people who are entrusted with the job of printing the magazines and making required number of copies to distribute it to the local market.

Readers : These are basically the Customers who read our magazines and are interested in the information provided by it.

Shareholders and Management : These are the people who have invested in the business organization and expect good returns and efficient management of organization ensure that most feasible decisions are taken which will prove fruitful for business.

Community : They are general public or environment in which business operates. It includes all those concerned parties upon whom the business might put any sort of impact.

Step 2) Our stakeholders are interested in maximizing their interests and the interests of business organization so that it continues to serve them. The main interests of readers is to get the latest and viable information regarding the current events and don not miss out on anything. Each reader will be interested in a particular genre and expects organization to provide it with information that they seek. The authors and writers are interested in maximizing their compensation and creating recognition through writing for the agency, therefore they also act as employees for organization. They intend to make their name through their skills and also earn a good living. The main intend of the regulatory bodies is to ensure that the content published in magazines is in no manner violating the regulatory framework. They monitor the activities to ensure that the content published is not interfering with anyone's confidentiality and is authentic. While shareholders are solely concerned with maximizing their returns on investments and management is interested in monitoring managerial activities to promote efficiency in decision making. The community is concerned with the contribution of business towards social welfare and preventing any ill impact of the organization on environment in which it is operating.

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Step 3)

Our stakeholders present us with various opportunities that compliment the business and make it more strong to compete in the extensive competitive environment. Our writers and authors provide is with the opportunity to make our magazines to appear in top 5 list of reputed content creations appearance for most read magazine. By providing interesting, eye catching authentic and essential content written in most beautiful manner for captivating readers attention , they help us in becoming most popular magazines among our readers. Our publishing agency designs the magazine beautifully and choses the colour combination and cover which is eye catching and at the same time professional to suit each sect of our readers from young to old. The management will ensure that good decisions are taken at appropriate times and changes are introduced accordingly so as to ensure that work goes on smoothly with least disturbances that making organization competitive.

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Step4)

The economic responsibility that our organization has towards its stakeholders will include ensuring that payment, salary and benefits are provided on time and equity is followed in compensation policy to make it fair and justifiable. The legal responsibility towards our stakeholders will involve ensuring that all the activities conducted by business are in compliance with regulations framework set and no violations of any kind take place. The ethical responsibility of organization towards stakeholders will to ensure that business does not discriminate against any part , nor does it out anybody's interest in jeopardy and maintains morality in its policies and actions . The philanthropic responsibility of organization towards its stakeholders will be taking care of community needs , spending in charity and donating funds for education and development of community in which it operates.

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Step 5)

In order to effectively address the stakeholder concerns it is important that Acme Publishing Centre incorporates establishes a grievance mechanism reserved for stakeholders so that they can express communicate and report any issues , problems, complexities and concerns to the company which should be immediately investigated for quick readressal. .

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Thanks dear student. .Hope this helps..

The name of organization is fictional, you can replace it if required. I have put a lot of efforts, please do rate with thumb up if satisfied :) that will help me. . .