In a well quoted with properly good written academic refferences, answer the following questions below.

Question

1. 12 points for this question - Describe vision and mission and discuss their value; and the work of strategic leaders.
2. 12 points for this question - Define stakeholders and describe their ability to influence organizations

Answer 1

1. Vision and Mission: Definitions and Value

Definitions of Vision and Mission

Vision refers to a forward-looking, inspirational statement that defines what an organization aspires to become in the future. It serves as a guiding star for all strategic decisions and offers a sense of direction and purpose. As stated by Collins and Porras (1996), a potent vision is more than just a goal; it creates a shared understanding of the long-term objectives and inspires stakeholders to work towards them.

Mission, on the other hand, describes an organization’s purpose and primary objectives. It articulates what the organization does, who it serves, and how it provides value. According to Drucker (1974), a clear mission statement not only clarifies the company’s purpose but also lays the groundwork for strategic planning and organizational alignment.

Value of Vision and Mission

The value of a well-defined vision and mission lies in their ability to provide clarity and direction. They act as a framework for decision-making, influence organizational culture, and help in aligning the efforts of all employees towards common goals (Kaplan & Norton, 2001). Furthermore, a compelling vision can enhance motivation and engagement, as it taps into the intrinsic values of employees (Senge, 1990).

Strategic leaders play a pivotal role in formulating and communicating the vision and mission. They are responsible for ensuring that these statements resonate with both internal and external stakeholders, creating a sense of unity and commitment. By embodying and advocating for the vision and mission, strategic leaders foster an environment where employees feel empowered to contribute to the organization's overarching goals (Mintzberg, Ahlstrand, & Lampel, 1998). Essentially, effective strategic leadership not only promotes the mission and vision but also actively engages followers in the strategic direction of the organization.

References

• Collins, J., & Porras, J. I. (1996). Building Your Company's Vision. Harvard Business Review, 74(5), 65-77.
• Drucker, P. F. (1974). Management: Tasks, Responsibilities, Practices. Harper & Row.
• Kaplan, R. S., & Norton, D. P. (2001). The Strategy-Focused Organization: How Balanced Scorecard Companies Thrive in the New Business Environment. Harvard Business School Press.
• Mintzberg, H., Ahlstrand, B., & Lampel, J. (1998). Strategy Safari: A Guided Tour Through The Wilds of Strategic Management. Free Press.
• Senge, P. M. (1990). The Fifth Discipline: The Art and Practice of The Learning Organization. Doubleday.

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2. Stakeholders and Their Influence on Organizations

Definition of Stakeholders

Stakeholders are individuals, groups, or organizations that can affect or be affected by an organization's objectives and actions. Freeman (1984) defines a stakeholder as "any group or individual who can affect or is affected by the achievement of an organization’s objectives." Stakeholders include, but are not limited to, employees, customers, suppliers, investors, communities, and government entities.

Ability to Influence Organizations

Stakeholders have varying degrees of influence over organizations, which can manifest in several ways:

1. Power and Legitimacy: Stakeholders with significant power, such as major investors or government regulators, can directly influence organizational policy and practice (Mitchell, Agle, & Wood, 1997). Their legitimacy, or the perceived validity of their claims, can also enhance or restrict an organization's ability to operate effectively.

2. Resource Dependency: Organizations rely on stakeholders for critical resources, such as financial capital, raw materials, or human talent (Pfeffer & Salancik, 1978). This interdependency means that stakeholders can exert influence through their control over these resources.

3. Public Perception and Reputation: Community stakeholders and customers can significantly impact an organization’s reputation. As consumer choices increasingly align with corporate social responsibility (CSR), companies must consider the perspectives and preferences of these stakeholders to maintain marketability (Porter & Kramer, 2006).

4. Activism and Advocacy: Stakeholders such as non-governmental organizations (NGOs) or activist groups can mobilize public opinion and may lead to reputational damage or economic consequences if an organization fails to meet societal expectations (Aguilera, Rupp, Williams, & Ganapathi, 2007).

Organizations that effectively engage their stakeholders often experience greater stability and success. By understanding the interests and influences of various stakeholders, organizations can align their strategies accordingly and ensure sustained mutual benefit.

References

• Aguilera, R. V., Rupp, D. E., Williams, C. A., & Ganapathi, J. (2007). Putting the S Back in Corporate Social Responsibility: A Multi-Level Theory of Social Change in Organizations. Academy of Management Review, 32(3), 836-863.
• Freeman, R. E. (1984). Strategic Management: A Stakeholder Approach. Pitman.
• Mitchell, R. K., Agle, B. R., & Wood, D. J. (1997). Toward a Theory of Stakeholder Identification and Salience: Defining the Principle of Who and What Really Counts. Academy of Management Review, 22(4), 853-886.
• Pfeffer, J., & Salancik, G. R. (1978). The External Control of Organizations: A Resource Dependence Perspective. Harper & Row.
• Porter, M. E., & Kramer, M. R. (2006). Strategy and Society: The Link Between Competitive Advantage and Corporate Social Responsibility. Harvard Business Review, 84(12), 78-92.