Previously in class, we discussed R. Edward Freeman’s Stakeholder Theory. In the video provided, Freeman stated that no stakeholder must be looked at in isolation and that it is the managers responsibility to assure that all stakeholder’s interest must go together for a organization to be successful.
A popular topic in the news lately is the construction of the Site C hydro-electric dam project. Many news articles have addressed the benefits that will affect the province’s industries and the province as a whole. Although the negative environmental consequences were explained, no great effort was put into explaining the impact that the dam will have on First Nations communities and their dependency on natural resources for traditional, spiritual and physical sustainability. Despite their opposition, many industries and government sectors are promoting the construction. This shows that the interests and opinions of the First Nations as stakeholders are treated with less value because their views do not yield the government much revenue. With that being said, it is extremely difficult to halt the planning of this project due to a small group’s opposition because that the project as a whole will benefit the company, the government and a greater fraction of stakeholders. Although a decision has not yet been made, I anticipate that the dam will be built due to the lack of incentive for cancellation.
What is Stakeholder Theory: https://www.youtube.com/watch?v=bIRUaLcvPe8