Managerial Roles: The Synthesis of Remedies to Multi-Stakeholder Interests and Issues in Corporate Organizations

This study examined the managerial roles as a comprehensive approach in addressing the many challenges of interests stemming from multi-stakeholders of the 21st century corporate organizations. The study also examined the stakeholder’s theory. Adopting the theoretical approach, the study found that the 21st century firms’ environment have varying stakeholders and interests beyond the employees, company, suppliers, shareholders and customers. Based on agency and upper echelon theories, the paper also found that the Mintzberg’s managerial role is a synthesis of many management schools of thought with focus on the managers as fiduciary custodians of the organizations’ authority, power and resources. The study concludes that the survival, growth and profitability of the organizations are upshots of the effective play of interpersonal, informational and decisional roles of the managers. The study also developed a model of pool and pull of human and material resources, authority and power, intuition, skills for the systematic running of the organization around the managers. The study recommends that managers should not be hired base on cronyism but on skills, integrity, and doggedness and vast knowledge of the management theories and/or schools of thought. It also recommends what Mintzberg calls mental and physical health, and the managerial skills by Katz for managers that would meet up the enormous roles associated with managing the complex multi-stakeholder organizations.

managerial roles, agency, upper echelon theories, multi-stakeholder

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