Stakeholders And Bad News Stakeholder Memory You Read About
Stakeholders And Bad Newsstakeholder Memoyou Read About Stakeholders I
Stakeholders and Bad News Stakeholder Memo You read about stakeholders in your Learning Activity and Reading area of this unit. How might external stakeholders' points of view be different from internal stakeholders? What changes would you expect to see in writing style and content under the following circumstances? Read the scenario and follow the steps provided. Scenario: A public company is changing its mission and business entity to be a for-profit benefit corporation that is required to show social and environmental benefits besides a profit. But so far, the company has not altered their actions and policies regarding enormous environmental waste being generated. Access background information for the Discussion. Step 1: Read the scenario and choose one of these external stakeholders: Suppliers, customers, the community, competitors, society (the environment), banks and lending institutions, and the government. Step 2: Compose a short email (200 words) to the CEO regarding your chosen stakeholder's reaction to the changes and the ethical considerations. Remember the appropriate email format, including the required fields of to, from, date, subject. Step 3: Respond to one of your classmates' emails as the CEO in a minimum of 150 words. Step 4: For your final response to classmates, vote (1) for the best memo from an external stakeholder and (2) the best response to an external stakeholder other than your own. Your instructor will set up a forum for voting purposes.
Paper For Above instruction
The scenario presented challenges us to consider the varying perspectives of internal and external stakeholders in a company's shift towards becoming a benefit corporation. External stakeholders—such as the community, environmental groups, or regulatory agencies—often prioritize social and environmental impacts over profit, whereas internal stakeholders, like company executives and employees, may focus on financial stability and organizational goals. Recognizing these differing priorities is essential in crafting communication that addresses ethical considerations and stakeholder concerns effectively.
In this context, selecting 'the community' as the external stakeholder provides a compelling lens for analysis. The community relies heavily on the company's environmental policies and social responsibility practices, particularly as the firm transitions to a benefit corporation. Although legally mandated to demonstrate social and environmental benefits, the company’s continued environmental waste indicates a disconnect between its stated mission and actual practices. This inconsistency likely triggers community concerns over environmental degradation, health risks, and the company's commitment to social responsibility. Therefore, the stakeholder's reaction would likely be skeptical or disappointed, emphasizing the ethical imperative for the company to align its actions with its new mission.
Drafting an email to the CEO from this stakeholder emphasizes ethical accountability and stakeholder engagement. It should express appreciation for the company's mission shift but also raise concerns regarding ongoing environmental harm. For example, the email might read:
"Dear CEO,
As a representative of the local community, I appreciate the company's efforts to redefine its mission as a benefit corporation committed to social and environmental good. However, the continued environmental waste generated by your operations raises serious concerns about the company's adherence to its ethical commitments. The community expects that your actions align with your stated goals, ensuring that social and environmental benefits are more than just corporate rhetoric. We urge the company to implement concrete measures to reduce ecological harm and uphold its responsibility to the community’s well-being. Transparency and accountability are vital for maintaining trust and achieving genuine sustainable impact.
Sincerely,
[Name], Community Member"
In response to a classmate’s email, as the CEO, I would acknowledge concerns and outline actionable steps. A minimum of 150 words should reinforce the company’s commitment to responsible practices, communicate plans to address environmental issues, and reinforce ethical obligations. For example:
"Dear [Name],
Thank you for your thoughtful feedback and for highlighting important community concerns. As part of our commitment to becoming a benefit corporation, we recognize the importance of aligning our practices with our mission. We are actively reviewing our environmental procedures and will implement more rigorous waste reduction initiatives, including investing in cleaner technologies and better waste management systems. Transparency is a priority, and we plan to publish progress reports on our social and environmental impact regularly. Our leadership team is dedicated to integrating these changes into our core operations, ensuring that our actions reflect our values. We value your partnership and the community's support as we work to fulfill our responsibilities ethically and sustainably."
Finally, during the voting phase, participation is encouraged to recognize impactful stakeholder communications and responses, fostering a dialogue that promotes corporate accountability and stakeholder engagement. Overall, addressing stakeholder concerns through transparent, ethical communication supports the company's credibility and sustainability ambitions.
References
Freeman, R. E. (1984). Strategic Management: A Stakeholder Approach. Boston: Pitman.
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Porter, M. E., & Kramer, M. R. (2006). Strategy and Society: The Link Between Competitive Advantage and Corporate Social Responsibility. Harvard Business Review, 84(12), 78-92.
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Donaldson, T., & Preston, L. E. (1995). The Stakeholder Theory of the Corporation: Concepts, Evidence, and Implications. Academy of Management Review, 20(1), 65-91.