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Essay / Research Paper Abstract
This 5 page paper considers the different stakeholders of Railtrack in terms of spheres of influence and a power interest matrix. The bibliography cites 5 sources
5 pages (~225 words per page)
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contradictory with the safety issues as the paradigm of a stakeholder approach required as the safety was incorporated through a shareholder wealth maximisation model; as part of an economic necessity,
rather than as part of an overall philosophy of safety and the alternate paradigm of corporate wealth maximisation. When we consider the range of stakeholders some can be seen
more direct than others. Stakeholders are those who have an interest in the running and operations of the company. These are usually displayed in concentric circles, with those with the
most direct interest closet to the company. In the centre circle, with the company will be the company management and the owners. In the case of Railtrack this will be
mainly institutional shareholders as well as the government with its retained share in the company. Moving outwards top the next level there will be those that do not have the
same direct influence on the company, but are still directly influenced by the company and can be seen to exert some influence. This next layer will include both employees as
well as strategic alliance partners and customers. In this case this will mean not only the rail passengers, but also the train companies that run the trains on Railtrack lines.
More remote stakeholders can be seen as the suppliers to the company and those who are effected on a less immediate level, this may be seen as the community
in general, especially those that live near the railway tracks, the interest groups, such as the rail users groups, the regulating authorities. However, when the company was privatised although
it can be seen there were many interested parties, moreover in a privatisation there may be a focus on a single set of stakeholders; the new shareholders. In order