In this assignment you will be asked to apply stakeholder management theory to the following scenario:A public corporation of 980 employees manufactures a popular brand of garments (mostly jeans) that are primarily made and sold in America nation-wide. It has a large contingent of employees in several small rural communities in the Eastern US and is the primary employer in all of those communities. Two if its 5 shops are unionized but the union and management have a good working relationship. The company has traditionally marketed its clothing line as Made in the USA and attracted a bit of a cult like following as a result, but an outside consulting firm has suggested that significantly greater profits are possible if a different strategy is employed. The corporation is subsequently considering whether to off-shore its manufacturing facilities to a poor nation to save money on labor. It would also discretely discontinue its Made in the USA marketing ads and hopefully ride the wave of its previous marketing campaigns for a while. It is estimated that total cost per unit of production will be decreased by one third which equates to tens of millions of dollars.Please write a 3-page paper in which you respond to the following:1. Provide a paragraph summarizing the concept of stakeholder management based on your readings.2. How do you think the following
stakeholder groups in the above scenario will be impacted?Employees/unionsCommunitiesStockholders3. What would you recommend the employer described above should do?
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