Arguments Corporate Social Responsibility †Free Samples to Students

Question: Discuss about the Arguments Corporate Social Responsibility. Answer: Introduction: The primary stakeholders are the stakeholders who engage in direct economic transactions with the companies. They are the ones who either participate in the operations or buy products of the companies and thus directly impact their revenue inflow. The primary stakeholders to a project management companies are the clients for whom the company executes the projects, shareholders, employees, suppliers of raw materials and the apex management. For example, the clients buy the projects the project management company executes and impact their cash inflow and market position(Harrison Wicks, 2013). The shareholders invest in the shares of the company and contribute towards its financial strength and ensure continuous inflow of capital for smooth operations. The apex management makes the strategies while the employees execute them, thus contributing to organizational excellence. The secondary stakeholders are those stakeholders who do not enter into direct transactions with the company but are capable of impacting the operations of the company. For example, the support of the community and the general public are very important for a project management company to continue its operations. The rival project management groups which are capable of impacting the company with their strategies and actions are considered a part of secondary stakeholders(Hrisch, Freeman Schaltegger, 2014). For example, the rival companies may introduce a low price project which may compel the other companies to change their pricing strategies. The protests from the communities make companies change their strategies to incorporate their demands. Thus, the community, the rival project management groups and the general public are capable of impacting the business of the project management companies even without entering into transactions or participating in the operations. They are cons idered as secondary stakeholders(Bridoux Stoelhorst, 2014). Key stakeholders: The government, financial institutions and the apex institutions like stock exchanges lays down laws and policies for the project management companies to follow during their course of operations. These stakeholders do not involve in direct financial transactions like purchasing of products but have strong impacts on the operations of the project management companies and their projects. For example, the financial institutions like banks provide the companies with financial capital to run their projects. Their decision to finance projects directly impact the operations of the project management companies. Thus, key stakeholders are capable of impacting the operations of the project management companies by their policies and decisions which impact the operations of the project management companies(Mansell, 2015). The employees and the management are parts of the organizational structures of the project management companies. They contribute directly towards making and execution of project strategies of the companies and are regarded as external stakeholders(Moriarty, 2016). The customers, clients, suppliers, shareholders, governments, financial institutions are not parts of the organizations but are capable of impacting the business output with their decisions. For example, customers are capable of impacting the cash inflow by consuming products of a company. These types of customers are called secondary stakeholders(Tantalo Priem, 2016). Appropriate communication plan for the stakeholder categories: Stakeholders Information to be shared Frequency of information exchange Location of information exchange Purpose of communication Mechanism of communication Who What When Where Why How Customer New upcoming projects As and when projects come up Main transport joints, newspapers and business magazines To get more projects, to promote competitive position in the market and to attract subcontractors Enterdering, Governments New projects, requirements of new land and other business facilities, road permits Well ahead of projects like facilities like sanctions of road permits require a lot of time and scrunity Seminars, meetings with important civil servants To get road permits and other facilities Seminars, mails, letters and brochures Suppliers and subcontractors New projects Advertisements in important transport joints, Formal meetings To get their involvements in projects Meeting at the project managers office Investors Profits, dividends Financial reports NA To attract more investments Sending them prospectus, financial reports Practical experience vs. theoretical understanding of leadership qualities: My experience of leading projects compared to my theoretical understanding of leadership qualities helps me to leading projects as a project manager. I have five years experiences of leading information and communication technology (ICT) projects of various types with clients having diverse requirements. My experience has taught that project managers in order to lead complex projects are required to have leadership qualities. They have to have qualities like communication skills, analytical skills, focus and decision making skills to lead project team successfully towards execution of projects(Fleming Koppelman, 2016). I can state from my opinion that ICT managers require techniques like consultancy techniques, IT management and contract management to manage ICT projects successfully. A project manager requires skills like decision making skills, analytical skills, motivational skills, diversity management skills and communication skills. A project manager should be able to gain participation of both internal and external stakeholders while conducting projects. He should have very strong knowledge skills about ICT, knowledge about latest development in technology and ancillary skills in Microsoft excel skills. A project manager uses various methods while executing his responsibilities of managing projects on regular basis(Bresnen, 2016). He coordinates between various departments like human resources, legal, accounts and marketing to execute projects successfully. For example, he communicates the human resource departments about the human resource requirements for upcoming projects. He communicates with the marketing department to know about the acquisitions of project orders. I can opine that project managers by this method of collaborating and coordinating with multiple departments ensure smooth execution of the projects. Again, by maintain healthy relationship with external and internal stakeholders, the project managers obtain their support for the projects. For example, the project managers communicate with the banks about the new requirement of funds which ensures smooth flow of funds into the projects(Moriarty, 2016). Thus, the project managers follow the method of maintain healthy chain of communication with the stakeholders to ensure successful execution of projects within deadlines. References: Bresnen, M. (2016). Institutional development, divergence and change in the discipline of project management.International journal of project management,34(2), 328-338. Bridoux, F., Stoelhorst, J. W. (2014). Microfoundations for stakeholder theory: Managing stakeholders with heterogeneous motives.Strategic Management Journal,35(1), 107-125. Fleming, Q. W., Koppelman, J. M. (2016, December). Earned value project management. Project Management Institute. Harrison, J. S., Wicks, A. C. (2013). Stakeholder theory, value, and firm performance.Business ethics quarterly,23(1), 97-124. Hrisch, J., Freeman, R. E., Schaltegger, S. (2014). Applying stakeholder theory in sustainability management: Links, similarities, dissimilarities, and a conceptual framework.Organization Environment,27(4), 328-346. Mansell, S. (2015).Book Review: Rejoinder to Veldmans review of Capitalism, Corporations and the Social Contract: A Critique of Stakeholder Theory(Vol. 22, No. 2, pp. 271-275). Sage UK: London, England: Sage Publications. Moriarty, J. (2016). The Demands of Stakeholder Theory for Corporate Governance.Business Ethics Journal Review,4(8), 47-52. Pig, B. (2017). Stakeholder theory and corporate governance: the nature of the board information.Management: journal of contemporary management issues,7(1), 1-17. Saleem, S., Kumar, A., Shahid, A. (2016). Arguments against corporate social responsibility.Imperial Journal of Interdisciplinary Research,2(8). Tantalo, C., Priem, R. L. (2016). Value creation through stakeholder synergy.Strategic Management Journal,37(2), 314-329.