Stakeholder Management with long-term sustainability is decisive in determining whether a business organization is being successful or not. Stakeholder Management has a direct impact on the company’s competitiveness and its environment. The most profitable companies have strong relationships with their relevant stakeholders groups, that is, the stakeholders in their business field. Stakeholder Management has a wide actively and effectively challenge to manage these important relationships with their different stakeholders groups. Strong customer relationships, successful relationships with suppliers, committed employees and good relationships with other stakeholders groups define the winners of today in the world ́s global economy and that is why companies like Nestlé understand, that they should keep an important and a great relationship with their stakeholders. To be able to achieve a sustainable stakeholder management, organizations first have to define who their key stakeholders are, they have to be able to understand their needs, then secondly, they should define what kind of stakeholder management system applies thereto.
Contents
1. Introduction
2. The Stakeholder theory of corporation
2.1. The legal argument of R. Edward Freeman
2.2. The general issue in business ethics
2.3. The economic argument
2.4. The stakeholder concept
3. The importance of stakeholder management
4. The implementation process of the stakeholders management system
5. Nestlé´s stakeholder engagement
5.1. Nestlé´s controversy
5.2. Nestlé way of stakeholder engagement
6. Nestlés stakeholder management, practical example of Ivory Coast
6.1. Background
6.2. Nestlé´s stakeholder management in the Ivory Coast
6.3. Nestlé´s Stakeholder Mapping in Ivory Cost
6.4 Supply Chain Mapping and Actors
6.5 Risk Management and Assessment
7. Conclusion
8. Bibliography
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