Corporations Develop Stakeholder Management Capability Q34254369

Why should corporations develop “stakeholder managementcapability”?

Expert Answer

The corporations should developstakeholder management capability for effective stakeholdermanagement. . It measures the extent to which the organization hasdeveloped its capability to manage the stakeholders. It isconsidered having three levels and the organization’s integrationof stakeholder thinking may reside at one of these levels. Thefirst level is rational level which involves identifying thestakeholder and their stakes. The basic stakeholder map isdeveloped here. This level is descriptive and somewhat analyticalbecause legitimacy of stakes, stakeholders’ power and urgency areidentified.   This level is also been identified as theelement of familiarization and comprehensiveness. In level 2 orprocess