Lüdtke

Influence factors of strategy Lüdtke

Seminar paper from the year 2005 in the subject Business economics - Business Management, Corporate Governance, grade: 1.8, University of Sheffield, course: Strategic Management, 8 entries in the bibliography, language: English, comment: Question: The management of strategy involves many factors. The impact of the interests of stakeholders is just one. By comparison with the other factors, evaluate how important stakeholders are in strategic management. , abstract: Stakeholders are one factor which influences the strategies of organisations. This assignment evaluates how important they are. According to Johnson et al (2005) strategies are systematic plans to achieve the objectives of an organisation. They are the domain in which organisations operate and have a long term direction. Strategies are affected by an inconstant environment, the constellation of resources and competences and the expectations of stakeholders. There are a lot of other factors, but this essay will describe just these three with examples. However the main part is about stakeholders. The authors define stakeholders as one or more persons with specific interests in companies. The essay will explain the stakeholder analysis and their benefits. It will show how companies could identify, classify their interest groups and how these interests conflict. In the conclusion, the paper evaluates the importance of stakeholders for organisations and their strategies.