Internal and External Stakeholders

Example of Discussion Post Introduction

It is a common tendency nowadays that the majority of businesses have more than one “owner” responsible for making crucial decisions concerning their financial and operational future. They are called stakeholders. According to Gossy (2008), stakeholders are the parties that take part in a company’s functioning, more specifically in its management, and possess an interest in it either internally or externally.

 

Therefore, in policy-making, different stakeholders are involved in arriving at a consensus. In the country, there are also particular authorities that bear the responsibility for its everyday existence. As a result, this essay will identify those stakeholders which have either internal or external influence on the life of the state and possess constitutional legitimacy for their roles in public policymaking.

Before explaining the impact of internal and external stakeholders on the course of creating a certain policy, it is necessary to define these two parties. The internal stakeholders are presented by the management and major executive bodies of the company or state. The external stakeholders are those who influence the functioning of the organization or the whole country and are influenced by its activity but are not full-fledged members of it and do not directly participate in the process of its management (Gossy, 2008).

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According to Milakovich & Gordon 2013, on the state level, the government is a major internal stakeholder. The reason behind this is that the government has always severely participated in the creation of policies aimed at preventing negative practices and controlling the operating standards. , the other stakeholders involved in the policy-making process in the country but externally include such institutions as the public commissions, the FCC, the security and exchange commissions, the state regulatory agencies and lastly the President, citizens, and consumers. Their role is to foster the policy creation or impact the change of it rather than actually make it (Gossy, 2008).

More specifically, the Government being the principal internal and explicit policy-maker is constitutionally responsible for issuing the main legal regulations directing the day-to-day operation of the state. The public commissions and other authorities in partnership with the federal power, for example, legislative, executive, judiciary, educational, economic, medical, etc. are also the main actors engaged in the making of public policies governing different areas and developing standards and regulatory codes (Milakovich & Gordon 2013).

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Interestingly, as stated by Milakovich & Gordon (2013), the president, citizens, and consumers also possess constitutional legitimacy. The President can easily influence the decisions and appoint board members of the commissions. However, despite the fact that he exercises power on these bodies, he is not in full control of them. Additionally, just like the presidency, the citizens and consumers have a voice in public policymaking and know their roles and powers and exercise them when the need arises. Nevertheless, their influence on the process of the creation of the policy is indirect and far too often not immediate (Gossy, 2008).

Example of Discussion Post Conclusion

In conclusion, it is evident that constitutional legitimacy is possessed by different internal and external stakeholders which include the government and its main branches, the President, citizens and consumers, the security and exchange commission and the state regulations agencies among others. However, it is clear beyond a reasonable doubt that bodies with explicit powers have more influence in decision-making regarding public policy creation as compared to those with implied powers.

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