Running head: ROLE OF STAKEHOLDER PAPER

Role of Stakeholder Paper Roberto E. Reyes MGT/420 June 11, 2012 Mark Bolotte

ROLE OF STAKEHOLDER PAPER

Role of Stakeholder Paper The role of stakeholders in implementing a quality management process is crucial in the development of a quality management process for the organization. The putting into practice a quality management process entails having a corporate culture that has a primary focus on product quality and that stresses collaboration in the form of teamwork between all the corporation stakeholders (Susniene. & Vanagas, 2005). Prior to the development of an effective quality management process the requirements and stakeholders expectations must be identified and an understanding of the relationships between stakeholders will facilitate the corporate management and alignment of applicable quality standards and procedures prior to implementation to attain its objectives. Stakeholders must work in collaboration with each

other to achieve common goals as a product that is achieved through this collaborative team effort. Stakeholders The main relations for an organization are not only with its consumers but also would include its relationships with the employees, suppliers, partners, investors, and government regulators, and other stakeholders that may affect the general market environment in which the organization operates. All of the stakeholder relationships make up a very important network that when altered in any way can produce a domino effect on the interdependent relationships that exist between the organization stakeholders. This is when a quality management process can create success in meeting internal and external customer, investors, employees, suppliers, government, community, and other stakeholders expectations (Susniene. & Vanagas, 2005).

ROLE OF STAKEHOLDER PAPER

The strategic value of implementing a quality management process approach of quality management and the importance of satisfying the different stakeholder interests, and assist in resolving important concerns identified by the stakeholders, and to address all stakeholder needs as reflected in government and other stakeholder objectives, requirements, and standards. Organizational success is dependent on the degree of loyalty and satisfaction a company can generate from its consumers, employees, and stakeholders in delivering quality products (Susniene & Vanagas, 2006, p. 83). Conclusion Inviting stakeholders to participate in collaborative team-building is essential in implementing a quality management process. To gain a competitive advantage, managers must identify the relationships between stakeholders of internal and external groups. Identifying and working to meet the needs of stakeholders enables a cooperative effort in obtaining a win for everyone involved in the process.

ROLE OF STAKEHOLDER PAPER

References Susniene, D., & Vanagas, P (2006). Development of stakeholder relationships by integrating their needs into organizations goals and objectives. Engineering Economic, 48 (3), 83. Susniene., D., & Vanagas, P. (2005, October). Integration of Total Quality Management into Stakeholder Management Policy and Harmonization of their Interests . ISSN 1392-2785 ENGINEERING ECONOMICS. 2005. No 4 (44) COMMERCE OF ENGINEERING DECISIONS, 4(44), 71-77. Retrieved from http://internet.ktu.lt/lt/mokslas/zurnalai/inzeko/44/1392-2758-2005-4-44-71.pdf