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MNG3701 Exam May June 2024
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MNG3701 Exam May June 2024
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Question 11.1 Discuss the concept of stakeholders. Your discussion should include the
following:
A). Define the term stakeholders and distinguish between the “narrow” and the
“broader” view of stakeholders
1.1 Discussion of the Concept of Stakeholders
a) Definition of Stakeholders:
Stakeholders refer to individuals, groups, or entities that have an interest or concern in the
operations, activities, or outcomes of an organization. They can influence or be influenced
by the organization's decisions, actions, or performance.
Narrow View of Stakeholders: In the narrow view, stakeholders are typically limited to those
directly involved or affected by the organization's activities, such as shareholders,
employees, customers, and suppliers. This view emphasizes the economic impact and
relationships between the organization and these primary stakeholders.
Broader View of Stakeholders: In contrast, the broader view considers a wider range of
individuals or groups who may have an interest in or be affected by the organization, even if
they are not directly involved in its operations. This includes communities, government
agencies, regulatory bodies, environmental groups, and society at large. The broader view
recognizes the interconnectedness of organizations with their external environment and
acknowledges the social, environmental, and ethical responsibilities they hold.
b) Examples of Stakeholders and How Sasol Adds Value
Employees: Employees are a key stakeholder group for Sasol. The company adds value to
employees by providing employment opportunities, fair wages, benefits, and career
development opportunities. Sasol prioritizes the health, safety, and well-being of its
employees through initiatives such as its Zero Harm ambition, which aims to ensure a safe
working environment. Additionally, Sasol's commitment to sustainability and innovation may
create opportunities for employees to contribute to meaningful projects that address
societal and environmental challenges.
Communities: Communities in regions where Sasol operates are important stakeholders.
Sasol adds value to these communities through various socio-economic development
initiatives, such as job creation, skills development programs, infrastructure projects, and
support for local businesses. By investing in community development, Sasol aims to
enhance the quality of life, promote economic growth, and build positive relationships with
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