Role of Stakeholders Integrating Business

Question: Discuss about the Role of Stakeholders for Integrating Business. Answer: Introduction: Presently round about 17 nations have prolifically passed a regulatory framework depicting the huge warnings in regard to consumption of tobacco and cigarettes. There are other nations that are significantly assessing and framing jurisdictions to control the consumption of cigarettes and tobacco. The Article 11 of the World Health Organization significantly states the necessities of controlling tobacco. Over the past decade the labeling and packaging practices has grown at a rapid rate. Here we can see there are mainly two stakeholders in this debate namely Mary Bender the marketing manager of BBT and Randall Hedges the personal relations manager of BBT are involved in issuing health hazard warnings on cigarette packs (Arenas, Lozano and Albareda, 2009). The view that Mary Bender holds in this debate is quite a hardcore business perspective, where she thinks that in designing cigarette packets, the company should never give the normal health hazard warning on the packs though there were hundreds and thousands of death occurs due to cigarette smoking all over the world, especially in developing countries. As per her views profit is the ultimate thing that matters most in business and with publishing such a warning in packs BBT would go through a huge risk of losing market share to their competitors which will affect their shareholder's belief and money both. She also tries to stand firm on her views by explaining the fact that as they are almost ready to enter the Asian market, and there are many Asian countries exists where such health warnings are still not legally required (Foster and Jonker, 2003). If any such laws come into action in near future, then they are ready to apply the health warnings on the packs most rapidly than any of their competitors. She also made it clear in the debate that the Managing Director of the company holds the same view with her. In another part, Randall Hedges holds a different and quite the opposite view of what Mary Bender thinks. According to Randal Hedges, his final opinion is the company should concentrate on corporate social responsibilities such as publishing health warnings on the cigarette packs which will give their company a long-term growth and trust in the market showing a lot of concern towards their consumers as well as the society. He pointed out a very important point that in Australia where they are publishing such health warnings for many years didn't destroy their credibility nor affected their market share comparing to their competitors so he believes such health warnings will not at all destroy their market in any part of the world (Morsing, 2006). Its obvious that managing director of BBT is supporting Mary Bender because company is entering a new market where there is a lot of competitors and to grip market share health hazard warning will be a great risk to take but another part of the debate is also rational that if company shows social responsibility by giving health hazard warning then it will gain the government and consumer confidence of particular countries in long term business (Stubbs and Higgins, 2015). References Arenas, D., Lozano, J. and Albareda, L. (2009). The Role of NGOs in CSR: Mutual Perceptions Among Stakeholders.J Bus Ethics, 88(1), pp.175-197. Foster, D. and Jonker, J. (2003). Third generation quality management: the role of stakeholders in integrating business into society.Managerial Auditing Journal, 18(4), pp.323-328. Morsing, M. (2006). Corporate social responsibility as strategic auto-communication: on the role of external stakeholders for member identification.Business Ethics: A European Review, 15(2), pp.171-182. Stubbs, W. and Higgins, C. (2015). Stakeholders Perspectives on the Role of Regulatory Reform in Integrated Reporting.J Bus Ethics.