Preview

Role of a Stakeholder

Good Essays
Open Document
Open Document
604 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Role of a Stakeholder
Role of Stakeholder
Justin Hicks
MGT/420
February 25, 2013

Stakeholders When human interacts so often and so closely with society, a shared interest and interdependence develops between the company and other social groups. Stakeholders are the legal owners of a corporation. Stakeholders are the most critical factors in measuring the success or failure of an organization in the dynamic business organization.
Quality Management Process The implementation of certain processes and regulations to maintain a superior service level and quality products, the further implementation of processes of figuring out the defects in products and ongoing improvements is known as Quality management (McCarthy, 2012).
Quality management mainly comprises of four steps; • Quality planning • Quality control • Quality assurance • Quality improvement
The role of stakeholders in implementing a quality management process Each stakeholder had a critical relationship with the implementation of an organization’s quality management process. For instance, employees are the major drivers of this process. According to studies in past, any quality management system will not function until employees are authorized and dedicated to take duty for quality - as a continuing procedure - efficiently for quality to become part of employee's behavior and actions (Juran, 2008). The whole Quality Management process is mainly conducted for a major stakeholder who is a customer of the company. Customers demand the best type of products and services from the brand they choose. Only the assurance of the supply of the best products and services can increase the market share of a particular company. It also sometimes helps companies to gain a competitive edge in the consumer markets. Society also demands company to maintain quality in each product and service produce to maximize the welfare of the people of the area in which the

You May Also Find These Documents Helpful

  • Good Essays

    GCSE BUSINESS KEY TERMS

    • 828 Words
    • 4 Pages

    Stakeholders: An individual or group interest in a business e.g. shareholders, owners, customers, competitors, employees.…

    • 828 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    Bus 1101 Unit 4 Business

    • 291 Words
    • 2 Pages

    The text defines stakeholders as: “Individuals and organizations who are actively involved in the organization or whose interests may be positively or negatively affected by what the organization does.” Every organization has stakeholders.…

    • 291 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    The stakeholders in a business can be a person, group or organisation that has an influence in an organisation. All stakeholders are not the same, they all have their differences.…

    • 399 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    If a customer purchases a high quality product then they are more than likely going to return to the company to purchase it again and this is why it is vital for company products to be of the highest order possible. Producing quality services can be determined by the rate of the job and the quality of the service. Some companies also have quality assurance promises to reassure the customer of the excellence of the product or service.…

    • 1582 Words
    • 7 Pages
    Good Essays
  • Good Essays

    Fox Stakeholders

    • 916 Words
    • 4 Pages

    Stakeholders are a person, group or organization that has interest or concern in an organization. Stakeholders can affect or be affected by the organization's actions, objectives and policies. Some of Temple Universities Fox School of Business stakeholders are as such: creditors, directors, employees, government and its agencies, shareholders, suppliers, alumni, unions, and the community from which the business attracts its assets.…

    • 916 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Quality management involves planning to develop a policy that focuses on setting performance objectives that clearly set quality as a foremost goal. Quality management includes all the activities that business use to strive for and achieve quality and covers quality control, assurance and improvement. There are three main strands to quality management…

    • 5968 Words
    • 24 Pages
    Good Essays
  • Powerful Essays

    In order for any organization to survive the fierce competition in the business world, the organization must be aware of opportunities to grow and reduce costs and be supported by Total Quality Management Process. The TQM process helps the company create new products ensuring the utmost standards of quality and customer satisfaction is achieved, which is the main goal of TQM process. In addition, the TQM process also helps in improving a company 's bottom line profits by increasing operating efficiencies, eliminating waste, and creating working conditions conducive to productivity and company growth. The company 's employees work in a healthy environment, which maximizes their efficiencies and enables them to perform at their best levels. In both the short-term and long-term, the quality improvement process pushes the company from different angles to achieve strategic goal and plans.…

    • 1721 Words
    • 7 Pages
    Powerful Essays
  • Good Essays

    A stakeholder is someone who has an interest in a business. Stakeholders are individuals, groups or organisations that are affected by the activity of a business. Customers are arguably the most important stakeholder. This is because they are the main source of cash flow in a business.…

    • 739 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Role of Stakeholder Paper

    • 601 Words
    • 3 Pages

    The role of stakeholders in implementing a quality management process is crucial in the development of a quality management process for the organization. Practicing a quality management process entails having a corporate culture that has a primary focus on product quality and that stresses collaboration in the form of teamwork between all the corporation stakeholders. Prior to the development of an effective quality management process the requirements and stakeholders expectations must be identified and an understanding of the relationships between stakeholders will facilitate the corporate management and alignment of applicable quality standards and procedures prior to implementation to attain its objectives. Stakeholders must work in collaboration with each other to achieve common goals as a product that is gained through this combined team effort. The main relations for an organization are not only with its consumers but also would include its relationships with the employees, suppliers, partners, investors, and government regulators, and other stakeholders that may affect the general market environment in which the organization operates. All of the stakeholder relationships make up a very important network that when altered in any way can produce a domino effect on the interdependent relationships that exist between the organization stakeholders. This is when a quality management process can create success in meeting internal and external customer,…

    • 601 Words
    • 3 Pages
    Good Essays
  • Good Essays

    • Quality Management: the processes that ensure the project satisfies the need that it is based upon, as well as satisfies customer requirements and fitness for use.…

    • 597 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Meeting Stakeholder Needs

    • 2081 Words
    • 9 Pages

    A stake holder is a party or person that has an interest, direct or indirect stake in an enterprise or project, Eden and Ackermann (1998) described stake holders as “People or small groups with the power to respond to, negotiate with, and change the strategic future of the organisation” (Eden and Ackermann, 1998:117), a further reference by Heerkens (2006) stated that “a stakeholder can stand to gain or lose through the success or failure of the project, can provide funding for the project or has invested resources and is affected by the outcome and outputs of the project”. Based on my reading thus far on the subject, I have diagrammed below (figure 1) the relevant stakeholders present in an organisation or enterprise.…

    • 2081 Words
    • 9 Pages
    Powerful Essays
  • Good Essays

    The role of stakeholder in implementing a quality management process is one that has many facets. When an organization decides to embark upon a quality management process there are many people, internally and externally, dependent upon or affected in some way by the final product, output or process ("Tutorials point", 2012). In order to decide who the stakeholders will be in the process, management of the stakeholder process is essential. First, it is important to identify all those required to ensure the success of creating an efficient process; those involved are either inside or outside of the organization ("Tutorials point", 2012). Second, an analysis to ascertain what the stakeholder’s needs, boundaries, expectations, locus of control within the process, and mutual relationships will be is necessary to make sure everyone involved understands his or her role ("Tutorials point", 2012). A third and also important step is the process of engaging all stakeholders early on in the project. Stakeholders must have the ability to engage with the leaders of the quality management process to familiarize everyone with each other and understand each person’s role within the process. When working conceptually with quality management, the three spheres of quality known as quality management, quality control, and quality assurance each have their own role but also overlap (Foster, Chapter 1, Differing Perspectives on Quality, 2007). In order for an organization to achieve, maintain, and improve the quality of its offerings, companies use quality control and quality assurance processes and procedures ("Tutorials point", 2012). Organizations will define their internal quality standards, procedures, and processes as well as develop stakeholders who will be required to adhere to those standards when dealing with quality control. Stakeholders will monitor process capability and…

    • 547 Words
    • 2 Pages
    Good Essays
  • Powerful Essays

    Mattel Toy Recalls

    • 840 Words
    • 4 Pages

    Stakeholders are the people, groups or organisations that have a direct or indirect stake in an organisation and can be affected by the organization's actions, objectives, and policies. Key stakeholders in a business include, customers, employees, shareholders, government, suppliers, and the community and society in which the business operates.…

    • 840 Words
    • 4 Pages
    Powerful Essays
  • Good Essays

    Stakeholders are valuable assets in growing wealth within an organization. Understanding the power and influence that stakeholders may exert is important when conceptualizing the quality management process. The implementation of a quality management process requires developing a quality-based culture that emphasizes stakeholder involvement and teamwork. The traditional internal process orientation failed to identify stakeholder needs and expectations. Knowledge and management of stakeholder relationships enhance operational competitive advantage (Foster & Jonker, 2009, p. 5-6). Understanding these relationships assist management in defining the applicable quality standards and procedures to attain its objectives.…

    • 570 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Now however, quality is often thought to start and end with the customer, it exists in every activity of a company and all points leading to and from the customer must aim for high-quality service and interaction.…

    • 1879 Words
    • 8 Pages
    Powerful Essays