Question

Identify the stakeholders and their interests/positions in the problem of time theft.

Answer 1

So , before going to main section first of all we have to know about stakeholders. So let us know little bit about stake holders who they are and what they do . So stakeholders are basically can be any individual , group of people who have interest in an organization and the outcomes of its actions. Bascially they are those people who are effected directly or indirectly by the organization strategies or their decisions. There are many types of stakeholders who have different interest in an organization. There is a difference between stakeholders and shareholder stakeholders are bound to a company with some type of vested interest, usually for a longer term and on the other side shareholder only have financial interest and they can shift easily when company is reporting loss . But we can say that the stakeholders are not necessarily shareholders but shareholders are stakeholders. So now let us see the what are the different types of stakeholders and what are their interest in any organizations.

Different types of stakeholders and their interests in general and in problem of time theft

If we talk about in general stakeholders are divided in two major categories :(a) external stakeholders and (b) internal stakeholders

(A) external stakeholders : As an name suggest external it means that these are those types of individuals or groups who are outside of the business but but who can affect or be affected by the business or project. They are mainly responsible for generating long term wealth for business. The external stakeholders include mainly customers, government , investors and creditors ,business partners and community and society . So now let us see what are their interests in organizations or in problem of theft.Before starting interest we have to know about the what is time theft . So, Time theft happens when an employee gets paid for work he or she didn’t do. Time theft make process expensive , but can also affect the morale, productivity, and attitudes of employees as well.

Customers : Customers are most important stakeholders because they have a real role in helping the business to develop and grow as they are expecting good value, high-quality products and great services. So the company profitability is directly related to the how fast ,good quality and cheaper products company can deliver .And if the time theft is occurring in the company the employees have to do the extra work , many activities can not be completed which can result frustration which can make the company performance inefficient .

Suppliers and vendors sell goods and services to the business and rely on it for revenue generation and on-going business. In many industries, the suppliers also have their health and safety on the line, as they may be directly involved in the company’s operations.so, mismanagement of time or time theft can seriously effect the storage of stock or can make shortage of supplies.

Community and society expects to the company to adopt an ethical and moral behavior, to involve and financially support the community life through voluntaries activities sponsorships donation, charity fundraising, partnerships, to finance culture, education systemetc. All these activities require important financial and human efforts materialized in supplementary costs .

Internal stakeholders are people who are already committed to serving your organization as board members, staff, volunteers, and/or donors.

Employees: Employees have a direct stake in the company in that they earn an income to support themselves, as well as other benefits (both monetary and non-monetary). The negative behavior can impacts the quality of work produced by the employee engaging in time theft, but can also negatively affect the productivity of other employees in the company as well. If others see their efforts, work, and timeliness is not recognized and there is no consequence for time theft, some employees might be tempted to see how far they can push their boundaries as well.

Investors include both shareholders and debt holders. Shareholders invest capital in the business and expect to earn a certain rate of return on that capital. Investors are commonly concerned with the concept of shareholder value. Lumped in with this group are all other providers of capital, such as lenders and different classes of shareholders. and the problem of theft can effect their confidence which can make them shift their investments .