Asked by Jeannie Howell on May 01, 2024
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Technological factors – Technology is the process by which inputs from an organization’s environments are transferred to outputs. Technology includes tools, machinery, equipment, and software.
5. Demographic factors – Population changes affect HR significantly. Examples of these are the retirement of baby boomers, the influence of women in the workforce, and Generation X and Y employees. The most important demographic factor is the labour market. The labour market is the area from which an organization recruits its employees. This could include local, regional, provincial, national, or international areas. The number of people available for work depends on factors such as unemployment rates, geographic migration, and graduation rates. In the 21st century, labour markets are becoming more and more international.
6. Social and cultural factors – Social and cultural factors are extremely complex. Social factors are those that specifically define a social group, entity, or stakeholder group. These factors might be formally or informally determined by laws and regulations or through organizational channels such as discipline and terminations. Cultural factors typically encompass the belief systems (values, attitudes, ethics, norms) attached to certain ethnicities, social groups, or organizational groups.
Define “stakeholders” and identify five major stakeholders influencing strategy in today’s workplace.
Demographic Factors
the characteristics of a population segment, such as age, gender, education, and income, which can influence trends in markets and societies.
Labour Market
The supply and demand dynamics for employment, where employers seek to hire workers and workers seek jobs.
Stakeholders
Stakeholders are individuals or groups that have an interest, right, or stake in an organization, project, or issue and can affect or be affected by the organization's actions.
- Identify key stakeholders and their influence on organizational strategy.
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ZK
Zybrea KnightMay 07, 2024
Final Answer :
Stakeholders are groups of people who have an interest in the projects, policies, or outcomes of an organization’s decisions. Stakeholders are also known as constituent groups. Some stakeholders are more powerful in influencing an organization.
Typically, the most powerful stakeholders will include:
- the board of directors and senior executives
- senior management
- supervisors
- employees
- unions
Other stakeholders will include: shareholders, customers, vendors/suppliers, the public, government, non-government organizations, and any interested party who might be influenced by an organization’s decisions.
Typically, the most powerful stakeholders will include:
- the board of directors and senior executives
- senior management
- supervisors
- employees
- unions
Other stakeholders will include: shareholders, customers, vendors/suppliers, the public, government, non-government organizations, and any interested party who might be influenced by an organization’s decisions.
Learning Objectives
- Identify key stakeholders and their influence on organizational strategy.