SPONSORS

SPONSORS

The importance of adopting a loving attitude

towards stakeholders

 

ADVISORY ARTICLE

By Dr. Bruno Roque Cignacco

United Kingdom

 


 

In the business environment, love is commonly seen as a feeling totally alien to the cultures of most organisations. Some renowned authors have even observed that love could undermine important business variables or Key Performance Indicators (e.g., productivity, quality levels, competitiveness, efficiency, etc.). Most companies focus on improving these indicators, instead of centring on love. It is important to pinpoint that these indicators are always the result of the interactions of an organisation and its internal and external stakeholders.

Therefore, when a company adopts a loving attitude toward its stakeholders, these indicators tend to improve naturally. An organisation with a loving attitude develops continuous goodwill and mutually beneficial relationships with all its relevant stakeholders; this company is more likely to succeed in the business arena.

Stakeholders are individuals and organisations with an interest in the company; they can be external (e.g., suppliers, intermediaries, competitors, communities, media, government, etc.) or internal (management and the rest of the employees). All stakeholders have their distinctive objectives and agendas. A company which develops beneficial relationships with its stakeholders is more likely to be supported by them when needed. When a company acts in a considerate manner with stakeholders, they tend to respond in a reciprocal manner.

In order to strengthen its bonds with its stakeholders, an organisation should identify their distinct needs and expectations in order to cater for them in the most effective way. Some specific tools (e.g., meetings, open telephone lines, emails, surveys, focus groups, etc.) can be used to discover stakeholders’ specific interests. A company should always take into account stakeholders’ unique needs when it develops its strategies and makes relevant business decisions. When a company continually cares for its stakeholders, its public image tends to improve significantly.

When a company adopts a loving attitude, all its activities (e.g., buying, selling, developing, and launching new products, etc.) are based on the development of mutually beneficial relationships with internal and external stakeholders. Strong relationships with stakeholders are always a relevant source of power, which gives an organisation an edge in the marketplace.

More…

To read entire article, click here

 

How to cite this article: Cignacco, B.R. (2019).  The importance of adopting a loving attitude towards stakeholders, PM World Journal, Vol. VIII, Issue X, November. Available online at https://pmworldlibrary.net/wp-content/uploads/2019/11/pmwj87-Nov2019-Cignacco-importance-of-loving-attitude-toward-stakeholders.pdf

 


 

About the Author


Bruno Roque Cignacco, PhD

United Kingdom

 

 

 

Dr Bruno Roque Cignacco, PhD is an international business consultant, international speaker and business coach. For over 20 years, he has advised and trained hundreds of companies on international trade activities and international marketing. He is a university lecturer. He is a Senior Fellow of the Higher Education Academy (HEA – UK). He is also the author of business and personal development books published in different languages. His websites  are www.humanorientedenterprise.com and www.brunocignacco.com