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Role of stakeholders in strategic plan

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References should be integrated, cited and reflected upon with your answers, with source citations being both in-text and end-of-text. Also, specific examples should be used to illustrate your key points. Each answer should be a minimum of one-page, double-spaced, typed on MS Word

QUESTION #1: What role should stakeholders play in the formation of an organization's strategic plan? Identify a real or hypothetical organization and after identifying the key stakeholders review their role in the development of the strategic plan. Fully explain your answer.

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All the stakeholders should play an integral role in the formation of an organization's strategic plan because the inputs, opinions and feedback of various stakeholders such as employees, etc. will help in creating a robust strategic plan. Further, involvement of all stakeholders will ensure their buy-in or support for the strategic plan as such stakeholders would not feel left out if included in the strategic planning process. Stakeholders such as employees will feel ...

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Sandeep Bardia, MBA
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  • BCom, SGTB Khalsa College, University of Delhi
  • MBA, Rochester Institute of Technology
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