Stakeholder landscape is rarely ideal

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Stakeholder landscape is rarely ideal, in which the interests of stakeholders are often in contradiction to each other (van Oosten, 2021). Investors could focus on making short-term gains, whereas the environmentalist community may think about the social awareness that might influence the profitability. The employees might be seeking for higher wages and the customers for lower product prices, which can give the power of conflict to the leaders. The effective leaders should foresee these conflicts and develop an effective strategy to manage these conflicts constructively (Gupta et al., 2022). Negotiation is one key competence in order stakeholder conflict to be solved where leaders should be able to know what each stakeholders need and to present arguments that are compelling for themselves, as well as to find solutions that meet the interest of all stakeholders (Heiss 2023). This brings Chukwu et al. (2023) into the realm of collaborative communication, emphasizing the importance of using even opposing viewpoints to seek out common ground. One more essential dimension in address of the conflict is empathy, by which leaders can yield to stakeholders by listening actively and by trying to understand their viewpoints, trust, and cooperation can be nurtured (Adham, 2023).

Reference no: EM133838195

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