Read this student response attached with YOUR opinion but include a NARRATIVE CITATION TO reference and support your thoughts
THE CITATION MUST BE A NARRATIVE CITATION TO RECIEVE CREDIT
150 WORDS MINIMUM NO MORE THAN 300
the professor is very specific ! your response must have a narrative citation along with your response- research what a narrative citation is if you dont know but make sure its narrative
THIS INSTRUCTOR NEEDS AN ANSWER FOR EACH STUDENT SEPERATELY – THIS IS FOR ATTENDANCE CREDIT SO JUST MAKE IT A MINIMUM OF 150 WORDS EXCLUDING THE REFERENCE
THE REFERENCE NEEDS TO BE A NARRATIVE CITATION
Original question- Non-profit organizations tend to have a slightly different set of stakeholders than for profit entities. What are the primary differences in stakeholders between for profit and non-profit organizations? How does the organization most effectively lead these stakeholders in order to maximize their contributions? Support your position.
READ EACH STUDENTS DISCUSSION POST AND RESPOND TO THAT STUDENT – JUST GIVE YOUR THOUGHTS- DO YOU AGREE OR DISAGREE WITH WHAT THEY SAID
Jul 10, 2022, 8:09 PM
Stakeholders in the non-profit sector may slightly different from the for-profit sector due to the way in which the organizations are set up. Based on a study from 2019, the nonprofit sector is the 3rd largest workforce in the US (Wang, 2021). This study proves that the need for stakeholders are abundant in the nonprofit sector just as they are in the for-profit sector. Wang (2021) also noted that people are drawn to non-profit organizations because of their mission or vision of such organization. Similar to for profit organizations, it is important to support the stakeholder theory where organizations plan according to the stakeholders needed, but often times internal stakeholders such as employees, are often over-worked and underpaid. External stakeholders, such as volunteers, are at a high currently (Mato-Santiso, Rey-García, & Sanzo-Pérez, 2019). It is just as important to include volunteers in planning for stakeholders as well. Volunteers are the main different in a non-proft and for-profit organization. Non-profits often rely on volunteers to help in many different ways, whereas for-profit generally do not have nearly as many volunteers.
Personally, I used to volunteer with the Urban Ministries and Samaritans Purse. When I went in as a volunteer I was always given instructions on what to do, where to be, and was able to ask questions as needed. There were committees or leaders that were very organized and knew exactly where volunteers were needed and the tasks that needed attending to.
DO YOU AGREE WITH ELISE? YES OR NO ? PROVIDE A NARRTIVE CITATION FOR A REFERENCE
Greetings, Scholars & Dr. Blando
Stakeholders are those with a moral claim or interest in business practices and system processes. They influence decision-makers behavior and involve themselves in product delivery and how products or services affect system norms. Prioritizing and engaging stakeholders is crucial for sustainability. Stakeholder management determines how to engage stakeholders and identify their interests, degree of relevance, authority, and legitimacy (Manetti & Toccafondi, 2014).
Non-profit organizations (NPO) have a slightly different set of stakeholders than for-profit organizations (PO). NPO addresses economic, political, religious, and social problems that are out of reach for traditional profit organizations (Ortega-Rodríguez et al., 2020). Stakeholder engagement is critical to achieving their intended cause; however, it has not always been factorable. A literature review concludes that NPO board members and managers are responsible for stakeholder reporting processes, balancing interest, and stakeholder engagement (Manetti & Toccafondi, 2014). Additional knowledge identified that boards and management should report and openly and regularly communicate with their internal and external stakeholders to choose relevant and helpful information from stakeholders. They should also thoroughly respond to reasonable stakeholder expectations by balancing their interests and demands to maintain the relationship (Ortega-Rodríguez et al., 2020). Evidence supports that organizational sustainability is linked to stakeholder management and engagement practices; they are the thread that binds sustainable business and boosts economies. The Social Research Institute (2009) concluded that more stakeholders are receptive to businesses with solid reputations built on trust and communication, a practice NPO can benefit from.
DO YOU AGREE WITH CRYSTAL? YES OR NO ? PROVIDE A NARRTIVE CITATION FOR A REFERENCE
One key difference between stakeholders in for profit organizations and stakeholders in non-profit organizations is the type of interest that engages them. For example, a stakeholder wanting a return on investment will seek a for-profit while a stakeholder wanting to share their wealth with the community with no expectation of monetary return will seek a non-profit. For -profit organizations can be seen as isolated and operating within their own set conditions (Valentinov & Hajdu, 2019) and non-profit organizations operate based on conditions they find matters to the heart, such as mission work. For-profit organizations draw upon the experience and expertise of their stakeholders and utilize knowledge-sharing to enhance operational practice and establish financial stability. Non-profit organizations, too, seek stakeholders with interest relevant to their operations, but do not do so to increase profitability. Stakeholders do not gain monetary value from an organization’s strategic objectives but rather donate their money and volunteer their services to the organization.
Another difference in stakeholders between for-profit and non-profit organizations is the amount of time spent with the organization. Non-profit organizations tend to have more volunteers than employees and hence, the volunteers may provide their services one time and are never seen again (Mato-Santiso, et al., 2019). For-profit stakeholders are generally rooted to the organization and provide more of their time to receive their return on investment or to ensure that operations are running ethically and in accordance with specific guidelines. Maximizing contributions to stakeholders of for-profit organizations is a continuous process, even when a project is complete. It is suggested that non-profit organizations continually communicate with past volunteers and prospective volunteers in the same manner to generate loyalty and repeat-volunteers (Mato-Santiso, et al., 2019).
DO YOU AGREE WITH SUSAN? YES OR NO ? PROVIDE A NARRTIVE CITATION FOR A REFERENCE