Organizational stakeholders Essay Example | Topics and Well Written Essays - 500 words

Organizational stakeholders - Essay ExampleHome Depot being a company trail on such a large scale has a great responsibility towards its stakeholders. Home Depots major stakeholders include its board of directors and shareholders/investors, the customers, employees and the suppliers.Bob Nardelli, the former president and chief executive of Home Depot contributed greatly towards the success and expansion of the organization. Nardelli was a true leader and followed an autocratic approach. However, along with the positive changes that Nardelli brought with him, he to a fault made some mistakes that greatly affective various stakeholders of the company.Nardelli was considered to have an arrogant and authoritative approach which was a cause for alienation of many stakeholders. Nardellis attempt on cutting down labor costs by hiring more part-time workers as compared to full-time lead to the loss of good workforce. This also lowered the esprit de corps of the existing workers. Another o ne of his errors was the cut back of inventory budget which left the stores undersupplied and the customers dis squelched. Nardellis attempt of increase profit margin through demanding lower prices from suppliers led to the loss of significant vendors as they were not satisfied with the price offerings. Most importantly, Nardellis hefty pay was a great source of concern to shareholders and corporate government activity groups and was prone to a lot criticism. Under the chairmanship of Nardelli, shareholders were not given the rights that they were entitled to and were not given an hazard to speak up. This shareholders matter led to the arousal of Nardellis credibility issues which made the investors lose trust in him and his instruction (Waters, 2007). This was one of the biggest set backs for him as the shareholders tend to hold immense influence on the organization.The present chairman and CEO of Home Depot is Frank Blake. Many