Environment Of Managmement Essay

The Environment of Management
Kolt Adkins
BUS/325
October 4, 2010
Dr. David A. Smith

The Environment of Management
While managers have it easy and get to boss people around, they also have major social and corporate social responsibilities to carry through. In a business a good manager doesn't focus inward on just himself/herself but everything and everybody who is associated with his/her business. The satisfaction of a business's internal and external stakeholders are essential if the manager wants a successful business (Williams, Kinicki pg.73). In this paper I will discuss the importance of having a good work environment for both your internal and external stakeholders.
What are Stakeholders
A stakeholder is someone who is affected in some way by a business (Williams, Kinicki pg.73). There are internal and external stakeholders. Both are equally important to a business. Their are distinct differences in a internal stakeholder and an external stakeholder.
Internal and External Stakeholders' Relations to its Management
An internal stakeholder works within the business; employees, owners, etc. An external stakeholder is anyone affected outside of the company; customers, stockholders, etc. It is a managers duty to satisfy the needs of these stakeholders. To do this a manager must use some of the basic functions of management. He/She must plan how they will conduct their business so that its employees have sufficient supplies and their products satisfy their customers. They must also organize their business so that it is workable for employees and customers.
Importance of Ethics to Management
Ethics are standards that use moral values to influence behavior (Hunt, 2006). In today's society ethics are more important then ever. A good manager must include these in all of his decisions to create the perfect work environment (Hunt, 2006). Without good ethical standards a business will have a negative outlook from its potential customers because they...