Strategic Planning

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Date Submitted: 06/22/2010 03:30 AM

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Task 1 word 468

Management strategy

1.1(a) Introduction – A stakeholder is a person who has something to gain or lose through the outcomes of a planning process or project. Boddy and Paton in their 2004 research define stakeholders as ‘individuals, groups or institutions with an interest in project, and who can affect the outcome.’ Typically they include five groups i.e. enthusiastic, supportive, indifferent, unsupportive and averse. This answer will show how a company may ensure that its stakeholders are fully involved in developing a management strategy. It will be through the reference of GlaxoSmithKline pharmaceuticals as a case example.

There are two major tools of stakeholder management- stakeholder analysis and stakeholder planning. It may be managed by way of project approach, especially where a new discrete strategy is under formulation.

1.1(b) Stakeholder Analysis – Given this approach the project team may begin to schedule a number of steps. This would start with identifying the stakeholders of gsk and then recording their position regarding the new strategy followed by plans and compiling an action plan for how best to manage and influence them.

In this case stakeholders would include healthcare professionals, patients, governments and regulators, healthcare providers, investors, employees, local communities, multilateral agencies, NGOs, scientific community and academic partnerships, suppliers and peer companies.

1.1(c) Stakeholder Involvement – stakeholder engagement and dialogue enables gsk to connect with the views and opinions of societies in which it operates. GSK engages its stakeholders in following ways:

* Healthcare professionals...