Stakeholders are people with a direct or indirect interest in a company's business activities, being managed by board of directors to lead the organization through strategic formulation and alliance in order to compete in the market. Organization must understand the need to restructure during economic downturn, therefore the know-how and flexibility to change are crucial factors for survival. This is where critical evaluation and control must be done on the objectives and strategy moving forward with the necessary tools and resources to help one to achieve the target.
Table of contents
Table of contents ii
Importance of Stakeholder management 1
Stakeholder analysis 2
Strategic competitiveness of a corporation 4
Reasons for strategic alliance 5
Key steps in strategic alliance process 6
Management and Functional level issues in strategic change 7
Evaluate and control strategic change 8
Objectives and evaluating strategies in Balanced Scorecard 10
Developing a Balanced Scorecard for an organization 11
The process of achieving organizational goals by engaging in the four major functions of planning, organizing, leading and controlling nowadays may not be sufficient for organizations to succeed in the world of complex environments, but rather it concerns more about the process to manage the company internally as a result of strategy, and also externally that is to do things differently to create distinctive competitiveness.
It is about how the company performs different activities from rivals or performing similar activities in different ways. To learn how to create strategies and put them into action, the company should analyze carefully the importance of stakeholders, strategic alliances, strategy formulation, implementation, controlling and evaluation. This paper will discuss the issues pertaining to the above and look at the management and functional level issues that needs to be addressed at the...