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Strategic Management Policy

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Dr. Grace S. Thomson

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Responding To Stakeholders’ Critical Needs- The Integrative Model Of Stakeholders’ Management (Imsm), Grace S. Thomson Jan 2010

Responding To Stakeholders’ Critical Needs- The Integrative Model Of Stakeholders’ Management (Imsm), Grace S. Thomson

Dr. Grace S. Thomson

Organizations are increasingly required to enhance their accountability to diverse internal and external stakeholders (Burrows, 1999). Knowing and understanding stakeholders’ expectations increases the ability of an organization to effectively respond to those expectations. Stakeholder relationship management is critical for corporate sustainability (Perrini & Tencati, 2006) or “capacity of a firm to continue operating over a long period of time” (p. 296). Organizations may benefit from developing collaborative interactions with their stakeholders, integrating their values and views into the formulation and implementation of organizational goals and objectives (Merrick, Parnell, Barnett & Garcia, 2005; Susniene & Vanagas, 2006).

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