Essay: Unconvential insights for managing Stakeholder
The article’s topic”Unconvential insights for managing Stakeholder trust” questions a fundamental issues that affects all companies; stakeholder trust. Though many companies do attempt to build the stakeholder trust through a number of actions such as 360-degree evaluations etc, the basic problem regarding this issue is that most organizations haven’t been really able to establish it.
Since so many stakeholders exist with each having his/her own agenda, it is difficult to establish a noteworthy relationship with all. Since trust is multidimensional it is difficult for the company to decide on a certain action route to act upon. SO it can be become quite a complex issue for the company to decide in terms of which dimension to target while addressing vital issues regarding managerial proficiency, technical competence amongst some. An empirical study was carried out of four organizations by analyzing the above issues in terms of whom they affected etc. The findings proved to quite unexpected. It was found that transparency is actually considered quite overrated and the reasons behind this was due to the foreclosed disclose affecting quality of closure, and the sort of information disclosed. And in certain cases disclose might even cause further problems.