Following are some of the examples of a stakeholders approach within a small business:
Maintaining relations with the CUSTOMERS: This has traditionally been the heart of HR’s strategic role in stakeholder’s approach and that makes sense. A firm’s functional strategies should support its competitive strategies. For example, FedEx’s competitive strategy is to differentiate itself from its competitors by offering superior customer service and guaranteed on-time deliveries. This requires highly committed employees— ones who’ll “go the extra mile” to do their best.
Adhering to the GOVERNMENT norms and federal laws is also a stakeholder’s approach to ensure smooth running of the business.
Maintaining relations with the SUPPLIERS: In the world of competition, there is always a challenge to maintain the customer base and ensure their loyalty towards the Company, even if it is a smaller one, which can in turn help is assuring a stability and survival of the overall business. In this regard, one of the most significant way of doing this is by maintaining good relations not only with the customers but also with the Suppliers so that the demands of the customers are fulfilled on time.
“Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!”
What Students Are Saying About Us
.......... Customer ID: 12*** | Rating: ⭐⭐⭐⭐⭐"Honestly, I was afraid to send my paper to you, but splendidwritings.com proved they are a trustworthy service. My essay was done in less than a day, and I received a brilliant piece. I didn’t even believe it was my essay at first 🙂 Great job, thank you!"
.......... Customer ID: 14***| Rating: ⭐⭐⭐⭐⭐
"The company has some nice prices and good content. I ordered a term paper here and got a very good one. I'll keep ordering from this website."
