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Stakeholder analysis
How stakeholders influence the business
Stakeholder analysis
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The Importance of People in Business
Task
----
To produce a report based on the investigation of a medium/large sized
business showing an understanding of the importance of people in
Business.
The following report will analyse the influence of stakeholders on a
business as well as how the business affects stakeholders and the
conflict of interest between the two.
Who are Stakeholders?
---------------------
Stakeholders are defined as "individuals or organizations who stand to
gain or lose from the success or failure of a business" (Nuseibeh &
Easterbrook, 2000).
In terms of a business, this can include employees, suppliers,
shareholders, financiers, the public and most importantly the
customer. By definition, stakeholders are those who are impacted by
(or have an impact on) a business and their perspectives need to be
taken into account in order for a business to be successful.
Stakeholders can have positive or negative views and often don't agree
with one another, making it a challenge juggle their varied
viewpoints.
Case Study - Tesco Plc
Tesco is a well-known international company established in 1924. Over
recent years it has expanded past other food-only retailers to deal in
home products, electrical goods and clothing amongst other non-food
items.
The company currently owns 6% of the non-food market in its division.
They also deal in banking, insurance and other financial services. It
currently has 1887 outlets in the U.K., which come in many different
varieties to cater for everyone's needs; they are metro (161), express
(277), superstore (447) and extras (83).
Below are two ...
... middle of paper ...
... A business will also be affected by its ex-employees. The way
ex-employees portrait the business once they have left may affect
future recruitment and the company's ability to attract new staff as
well as the general publics opinion of the business.
Ex-employees are external stakeholders.
Conclusion:
In my opinion it is important for a business to undertake stakeholder
analysis and prioritise stakeholders dependant upon their influence
and interest in the business. Once this has been done it is important
to plan for any potential conflicts that may arise and look to resolve
them by compromising and negotiating until a sensible solution is
reached.
In the case of Tesco it is important to meet the objectives of the
Shareholders and financial links without upsetting the general public
and pressure groups.
Store information provided by Tesco: Text Box: Tesco Superstore, our most frequent layout, with groceries and non-food [IMAGE] - Coffee Shop/Cafe [IMAGE] - Pharmacy [IMAGE] - Deli Counter [IMAGE] - Fish Counter [IMAGE] - Petrol Station [IMAGE] - Pay at pump Task 1 This organisation chart for Tesco Plc shows that even though the Chief Executive is in charge of Tesco Plc most decisions are still made by the Board of Directors: * [IMAGE]Tim Mason - Marketing & E-commerence Director * Davis Potts - Retail Director * Andrew Higginson - Finance Director * John Gildersleeve - Commercial and Trading Director * Terry Leahy - Chief Executive * David Reid CA - Deputy Chairman * Rowley Ager - Company Secretary * Philip Clarke - IT & logistics Director Each individual store is divided Text Box: into this organisation chart. [IMAGE] The store manager has span of control over all the deputies who have span of control of their section. When some thing needs to be done the store manager would ask his deputise who would divide the work between other workers following the chain of command. Task 2 Aims are what businesses set out to do.
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