The paper "The Requirement of Financial and Moral Stability for the British Red Cross" is an inspiring example of a case study on business. Non-profit organizations have a much more difficult task balancing financial sustainability with a mission that their private-sector counterparts because these dual objectives may conflict. Their primary stakeholders are the consumers of their services as well as the volunteers who contribute to their efforts. The Red Cross may depend on its donors for support, but its primary stakeholders are its volunteers and the people they provide services.
Although not governed by the Civil Contingencies Act (2004), the British Red Cross works very closely with Category 1 & 2 responders thus a BCM to ensure the continuity of its operations during the crisis. Stakeholder Analysis A stakeholder analysis provides information on key stakeholders to help manage relationships with them. The type of information included in a stakeholder analysis includes names and organization of key stakeholders, their roles on the project, unique facts about each stakeholder, their level of interest in the project, their influence on the project, a suggestion for managing relationships with each stakeholder.
The concept of stakeholders acknowledges that no business is an island and that business interacts with society in a number of different ways. The objectives of an organization will be circumscribed by the extent to which relationships with stakeholders are successfully managed. Nowhere is this more important than in BCM since their response to the organization in the post-crisis phase will have an impact on the success of recovery efforts and, ultimately, the survival of the company (Elliot et al. , 2002, p. 86). Of all stakeholders’ relationships, those that non-profit organizations have with members or volunteers may be at the same time the most tenuous and the most necessary (Lamb et al.
2005, p. 141). Stakeholders who enter into a relationship with a non-profit group, whether it is an alumni association, a professional group, or a social service agency, usually have some need or goal that motivates their joining, donating, serving, or attending.
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