Need an research paper on the current level of understanding of events impact and events stakeholder management. Needs to be 8 pages. Please no plagiarism. These stakeholders each have their own desires, positions, and expectations, and businesses are confronted with stakeholder reputation risk if these requirements and expectations are not adequately addressed. Stakeholders can bring threats as well as opportunities for businesses (O’Brien, 2006). For example, if an organization is well respected, stakeholders may give it more latitude to function.
Conversely, a bad or lackluster reputation can cause stakeholders to pass rules that make it harder for the organization to carry out basic functions (Presbury and Edwards, 2005). Knowledge, reflection, and a basic comprehension of the desires of the organization’s stakeholders and the reputation management procedures will profit any institution, in spite of its size or stature. There is no company that does not have stakeholders. The term ‘stakeholder’ refers to any individual or group that can somehow influence or is influenced by an institution’s actions, behavior and performance. There is, therefore, the interplay of different elements to oversee to create an excellent reputation. An organization gets its reputation from the way its stakeholders perceive it. They assess the organization’s performance, activities, and behavior, and then react to these factors by purchasing the institution’s services or products, and recommending the institution to their friends and acquaintances.
It is such reactions that are important. The positive reaction of consumers is crucial as it allows the institution to be able to depend on the consumers when it requires some financial assistance. The word ‘stakeholder management’ defines the execution and development of organizational strategies, along with practices that take into account the objectives of the institution’s stakeholders. Stakeholder Management also includes discussion.