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BUS 5117 Written Assignment - Unit 1

The document discusses a proposed project to allow larger planes to land at a municipal airport with the goal of increasing tourism. However, there are concerns about increased noise and pollution. It identifies key internal stakeholders like airport management and employees, and external stakeholders like the local community and environmental agencies. It stresses the importance of including representatives from both internal and external stakeholders on committees to strategically manage the project at all stages to minimize risks and ensure benefits for the community and environment.

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Mesert Alemu
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78 views

BUS 5117 Written Assignment - Unit 1

The document discusses a proposed project to allow larger planes to land at a municipal airport with the goal of increasing tourism. However, there are concerns about increased noise and pollution. It identifies key internal stakeholders like airport management and employees, and external stakeholders like the local community and environmental agencies. It stresses the importance of including representatives from both internal and external stakeholders on committees to strategically manage the project at all stages to minimize risks and ensure benefits for the community and environment.

Uploaded by

Mesert Alemu
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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BUS 5117 – 01 Strategic Decision-Making and Management

UNIT – Written assignment

Introduction:

This paper discusses the strategic development of a project that aims to let larger planes land

at the municipal airport facility with a vision to bring added tourism. But the concern and risk

of more noise and pollution are attached to the project. The possible internal and external

stakeholders who could be a partner is elaborated. The paper further points out the proposed

committee, which will participate in the strategic management committee, articulate how the

external stakeholders would be integrated, and discuss how to keep stakeholders informed on

the analysis and the proposed optimal solutions.

Internal and external stakeholders:

Selecting stakeholders is an imperative stage of the new project. Stakeholders can be internal

or external. Internal stakeholders usually come through a direct relationship with the

company, such as employment, ownership, or investment. At the same time, the external

stakeholders indirectly interact with the company and can be significantly impacted by the

company's associated concerns and performance (Fernando, 2022).

In the case of the municipal airport that considers the possibility of letting larger planes land

in the facility, identifying the internal and external stakeholders should be a careful process,

considering how the project impacts the community and the environment.

Internal stakeholders: As the project owner is the municipality coordinating with the

municipality airport, the management and another employee of the municipality and the

airport facility are the main internal stakeholders. In addition, investors, shareholders of the
airport, and owners of the planes are considered internal stakeholders as they directly relate to

the facility.

External stakeholders: The community in the area, community leaders, all government

agencies impacted by the project indirectly, environment protection agency are the main

external stakeholders. These external stakeholders should involve in the strategic

management to ensure low-risk and high and sustainable benefits to the community and the

environment.

As the direct and indirect impact of the project affects the internal and external stakeholders,

the involvement of these stakeholders or their representatives in strategic management is

imperative. Therefore, for a smooth and successful project, the project owners should select

committees from the internal and external stakeholders who participate and contribute to the

strategic management process.

The committee represented both the internal and external stakeholders should strategically

involve at the various stage of the strategic management processes. Such participation

ensures a well-analyzed strategy with minimum risk and threat developed, implemented, and

evaluated. In addition, the involvement of both committees (internal and external) in the

process can help to monitor and correct when the project is ineffective.

Conclusion:

In conclusion, the involvement of internal and external stakeholders in strategic management

is essential to ensure the company achieves its goals. Internal stakeholders are important as

the business operations depend on their capacity. External stakeholders have the same

importance as they can indirectly affect the company's work.


References:

Fernando, J. (2022, November 4). What are stakeholders: Definition, types, and examples.

Investopedia. Retrieved November 15, 2022, from

https://www.investopedia.com/terms/s/stakeholder.asp

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