How does an organisation know whether it is successful or not? Although success will be measured in different ways by different stakeholders, it is generally a firm's ability to meet its aims and objectives that determines how well it is performing. A vision is a summary of what an organisation wishes to achieve. For London 2012 this vision is 'to use the power of the Games to inspire change'. It has a range of different values and objectives to help it achieve this. The vision not only guides the activities of the London Organising Committee for the Olympic and Paralympic Games (LOGOC), it is also motivates those individuals and groups of people involved in planning, organising and delivering the Games. The vision provides a consistent message for everyone involved.
For those countries currently involved in the World Cup, the vision will undoubtedly be lifting the Jules Rimet trophy. Again, all the stakeholders will have an impact on this. The players' performance will not only be affected by such things as their fitness and the preparation carried out. The presence of supporters at matches, for example, can have an intense impact on the teams. Fans in different nations support their teams in different ways, whether that is by blowing vuvuzela horns, chanting or singing World Cup songs. Although there is no official England World Cup anthem, a number of football songs have made it into the top 40 this week, topped by Dizzee Rascal and James Corden's reworking of Shout, the Tears for Fears hit. Others include a re-release of Three Lions, New Order's World in Motion and Terry Venables' If I can Dream. This demonstrates that achieving the vision has importance for more than just the teams. (BBC News 13th June 2101)
- Define stakeholder.
- Using the case study to help you, list the different stakeholders of the London 2012 Games.
- Explain why there might be conflict between the different stakeholders of an organisation.
- Define stakeholder. A stakeholder is an individual or group that affects or is affected by an organisation.
- Using the case study to help you, list the different stakeholders of the London 2012 Games. Answer could include: Competitors, Trainers, Residents in areas local to where the events will be taking place, Businesses in areas local to where the events will be taking place, Businesses involved in developing the venues and surrounding infrastructure, Audiences (both at the event and watching/listening from elsewhere), Governments.
- Explain why there might be conflict between the different stakeholders of an organisation. Different stakeholders have different objectives as far as the organisation is concerned. Some of these objectives may conflict, for example, employees may want more pay but shareholders would like greater dividends.