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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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Stakeholder Approach

Stakeholder Approach

Q What are the reasons for encouraging managers to use the stakeholder approach? Would these reasons apply to teams?

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There are several reasons that encourage the managers to employ the stakeholders approach. The managers can manage and recognize the alterations on the unsighted areas, and perception partiality. Even such approach helps the managers to execute their ethical accountability and responsibility both in the domestic and exterior group. The terms of the stakeholder approach will also help the managers to acknowledge their blind spots, harmful activities and perceptual biases that possess enough potentiality to affect the organization (Ayuso et al. 2014). On the other hand, it can be stated that the managers can handle their stakeholders association. It is really easy for the managers to begin the process of generating the exact costs for appreciating the lawful commitments and ethics of the organization against the stakeholders. The stakeholders approach is broad, therefore, it can play a really important role for the constant and sustainable growth of the organization. Otherwise, the working condition of the organization can be affected.