Written UNIT 1: Introduction to Strategic Management
Consider the roles of internal and external stakeholders and consider one of the following projects:
A municipal airport is considering letting larger planes land at its facilities. This will bring added tourism but also more noise and pollution.
A paper factory is expanding its production at one plant. This will provide local high paying jobs but also create more traffic and potential pollution.
A school wants to consolidate classes to save on teachers’ wages. This will save local taxpayers money but may lead to classroom overcrowding.
Identify the possible internal and external stakeholders who could be partners for the project. Propose two committees, which would be part of a strategic management process, to address the opportunities and costs of the project.
Articulate how you would integrate the external stakeholders into the strategic management process and how you would keep stakeholders informed. Based on your analysis, propose an optimal solution?