Wilmar International Limited Managing Multiple Stakeholders 2010
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Wilmar International Limited (WIL) is a Singaporean company that is involved in the trade and trading of palm oil and other essential oils from around the world. It is also involved in the manufacturing of biodiesel from palm oil. In this case study, we will be investigating how Wilmar managed to achieve success by managing multiple stakeholders. Executive Summary The case study will outline how Wilmar International Limited managed to achieve success in multiple stakeholders’ relationships. The case study will focus on the company
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“In June 2010, Wilmar International Limited, a leading global agribusiness conglomerate headquartered in Singapore, embarked on a new strategy to manage its relationships with stakeholders. The company had acquired the Malaysian palm oil company, UPL Biosciences, in 2006 and the Indonesian palm oil producer, AMP Bersama, in 2008. The acquisitions, aimed at diversifying its operations, also came at a time when there was a growing
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WILMAR INTERNATIONAL LIMITED Managing Multiple Stakeholders 2010 I was assigned the task to analyze and report on the way Wilmar International Limited manages multiple stakeholders. The following is a revised version of my presentation with the additional section on the impact of corporate social responsibility (CSR) on Wilmar’s reputation and stakeholders. To start with, I want to briefly discuss the company’s history. Wilmar International Limited is an international conglomerate founded
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For some of us in leadership positions, there was an intense and ongoing debate about the role and place of stakeholders in management today. This was a highly charged topic in the early 2000s, with many leaders questioning the traditional paradigm of top-down management that was the norm for decades. This debate went global, with CEO’s and other senior leaders from organizations such as IBM, General Electric, Nestle, Coca-Cola, SAP, Acer, GE, Microsoft and HP meeting in a
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“When we launched the CSR programme in 2010, we knew that it would face a great challenge in terms of its impact on our stakeholders. We knew that it would be a long term endeavour that required not only management focus but also a deep understanding of stakeholder issues. The programme has been a very rewarding journey and it is not unusual for the team to be asked questions, concerns, and even hostile reactions from various stakeholders. Our response, which is a vital part of our approach, has been to understand the st
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[ of the article] Stakeholders are the people or group of people whose needs, concerns, and interests are affected by the organization’s decision, action or result. wikipedia reference Multiple stakeholders represent a wide range of interests and opinions, and they are an organization’s key concerns. Stakeholders are essential in the corporate world, and companies cannot ignore them. They include consumers, employees, suppliers, government, society, and the environment. Wilmar International Limited (WIL), as one of the leading companies in the international oil,
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