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Setting corporate goals and measuring organizational effectiveness--a practical approach
Long Range Planning
|January 11, 1983
Summary
Organizations must identify and prioritize stakeholders, recognizing their varying influence and criteria for judging effectiveness. Understanding stakeholder power dynamics is crucial for strategic planning and meeting societal demands.
Area of Science:
- Business Strategy
- Organizational Management
- Stakeholder Theory
Background:
- Organizations face increasing societal demands from diverse groups.
- Identifying and prioritizing stakeholders is essential for strategic planning.
- Stakeholder expectations influence organizational effectiveness and societal engagement.
Purpose of the Study:
- To outline a framework for identifying and prioritizing organizational stakeholders.
- To explore methods for determining stakeholder criteria for organizational effectiveness.
- To analyze the dynamics of stakeholder power and its influence on organizations.
Main Methods:
- Direct stakeholder engagement and consultation.
- Deductive approaches using literature surveys and representative polling.
- Combined methodologies for comprehensive stakeholder analysis.
Main Results:
- Identification of crucial effectiveness criteria for distinct stakeholder groups.
- Understanding that stakeholder criteria and power determinants are dynamic.
- Recognition of evolving pressures from societal to regulatory levels impacting stakeholders.
Conclusions:
- Effective strategic planning requires a thorough understanding of stakeholder priorities and influence.
- Organizational effectiveness is judged by stakeholders based on evolving criteria.
- Environmental scanning must account for the shifting nature of stakeholder power and demands.