Effects Of Stakeholder Management on the Sustainability of Small and Medium Scale Business.

Abstract

Sustainability is imperative; an integral part of any organizational goal. However, there exist little convergence on how organizations become sustainable. Whereas, there are divergence opinions among researchers on ways sustainability is best developed and implemented within organizations. This study achieves its aims of providing insight into how sustainability emerges within small and medize business (SMB) with much focus on the influence of its stakeholder management. Business sustainability in this context explain the level and ability of small and medium scale organization’s continuity. That is, the capacity of an organization to continue operating in a sustainable manner over a long period of time. This research takes a view to such business sustainability to be dependent on the level of its stakeholder management. For this research, an integrated methodology was deployed to examine from a qualitative viewpoint the overall effects of stakeholder management on the sustainability of small and medium-sized organizations. Specifically, business owners/managers from five SMEs who possess exemplary sustainability standings were approached to share their views on stakeholder management contributions to the organization sustainability. The findings of these interactions revealed that different viewpoints toward sustainability existed at the different studied organizations with all focus on people and profit. Question such as what steps has your organization/business taken in the past to be where you are today? Elicited answers like; active engagement with stakeholders, consistent quality services, proper training of staff, meeting customers’ needs when they want it, open communication, affordable price etc.