Stakeholder’s Conflicting Opinions; A stakeholder is an individual, group, or party that has a vested interest in an organization and can affect or be affected by the organization’s business performance and outcomes. The interests of different stakeholder groups can conflict, and thus business leaders need to have the skills to maintain working relationships with all stakeholders. This paper will explain how a correctional leader can maintain working relationships with all shareholders if satisfying one group’s needs and desires requires a decision that is contrary to the needs and desires of another group.
Stakeholder’s Conflicting OpinionsFirstly, a correlational leader should develop effective communication systems. The most
critical aspect of managing shareholders is learning their different expectations and different
goals (Winter, 2020). This means communicating to all of them regularly concerning the
performance criteria and the various constraints involved. The lack of a robust communication
system is the most significant contributor to conflict. Secondly, a correctional leader should
engage all the stakeholders in key decisions (Wilson, 2018). This is one of the best strategies that
a correlational leader can use to maintain professional relationships with all shareholders. It
should be noted that the different shareholders will never at any given time agree with a decision
or a given way of doing things unanimously. Most of the stakeholders often hold opposing views
because they are not involved in an organization’s major decisions. Therefore, consulting them
would ensure that decisions have minimal criticism and that every part is satisfied.
Thirdly, a correlational leader can maintain working relationships with all shareholders
by implementing decisions that positively impact the organization’s goals than others. Different
groups support an organization’s goals in different ways. Although all the groups have a right to
support the organization through ideas, a correlational leader should note that the opinion of one group of shareholders may have more positive impacts than that of others (Brännback, Carsrud,
& Kiviluoto, 2014). Therefore, he should explain to the different shareholder groups why he
implemented one decision and not the other. Lastly, a correlational leader should realize that all
the shareholders have the same objective, only that the approaches to be uses differ. A
correlational leader’s role here is to conduct a pilot approach that would be ideal for the
organization using a selected group of shareholders. From the pilot approach, he should measure
the approach with the one in current use to determine the level of improvement.