IntroductionIn management, when stakeholders’ needs, concerns, opinions, and perceptions are identified early enough and interpreted into apposite, consequential requirements alongside which different solution may be appraised, opposition from stakeholders is significantly reduced and mutual consent can be realized. It is important to emphasize that it is unrealistic to try to attain the goal of gaining active support from all stakeholders, i.e. , unanimous agreement by all stakeholders. In practice, stakeholders may give their consent in spite of unrelenting opposition on a given project even after being shown that the proposed solution to a problem is important.
In this report, we identify Dubai Refreshments PSC’s stakeholders by keeping in mind that not all stakeholders will perceive our project of overhauling the two distribution warehouses that are not meeting international standards as beneficial. The project represents a considerable cash investment, and will mean that 50 employees will be fired. Whether the opposition of negative stakeholders comes from real or unreal factors, it is apparent that these negative stakeholders cannot be ignored. This report will identify stakeholders from four groups: Regulatory Authorities, Business Partners, Employees, and International Industry.
There is need to identify these stakeholders, determine the source of their opposition, and to develop stakeholder management strategies that will address their issues and mitigate the risks their pressure and opposition can create. The ever-increasing scope and goal of the company’s projects require a dedication to dialogue and cooperation with a number of stakeholders. As the management we believe that open and transparent dialogue is critical to long-term success. Identification of StakeholdersIn order to identify the company’s stakeholders it is necessary to focus on both the formal structure of Dubai Refreshments PSC and informal relationships and partnerships.
This report utilizes a visual model for this purpose, where the stakeholder environment is visualized using a set of inner and outer circles. From the model below, the inner circles represent the most important stakeholders whose influence on Dubai Refreshments PSC is highest. The exhibit below serves to provide a general overview on the possible stakeholders of Dubai Refreshments PSC and their impact. It is imperative to note that this report uses stakeholder analysis as a tool for evaluating Dubai Refreshments PSC strategies.
The rationale is that different individuals and groups may have their own perceptions in different situations. For instance, labor interest groups will have a high interest in staffing decisions; while environmental regulatory groups could, however, have an exceptionally high influence when it comes to decisions involving plant location. Exhibit-1: Stakeholder identificationDubai Refreshments PSC’s stakeholders are identified from each of the following stakeholder groups as listed below. Each of the stakeholders is identified to help the company deal with the outside pressure: Regulatory Authorities (Local Authorities)In the analysis of stakeholder power especially in terms of their influence on people and developments, it is important to assess, to which extent these stakeholders will exercise their power.
The impact of Local authorities on Dubai Refreshments (PSC) is very high. If the Dubai Refreshments (PSC) plans to overhaul its two distribution warehouses that are not meeting international standards or move it’s headquarter; then these decisions should also meet local standards. This is where local authorities would probably have significant influence on this decision. Nevertheless, their interested will also be in knowing about important business developments, including introduction of new product lines and new marketing and promotional campaigns among others without taking any action.