an exclusive report on external stakeholders
Module: Business Fuctions and Process
Student Name: Mengying Zhang
Student ID: 11061928
Word Account: 4,929
External Stakeholders and the Organisation2
Corporate Social Responsibility4
Knowledge of Management6
Operation in Business Process8
Operation Management and Objectives8
Operation Management and Strategy Process9
Operation Management and Implementation9
Operation Management as a Transformation Process10
Operation Management and Operation Activities11
Other Important Business Functions12
Marketing as Business Function12
HRM as Business Function12
Finance as Business Function13
This report is aim to introduce how business functions and process need to be implemented across an organisation. The report will come with both academic theories and real examples. Some examples of Tesco PLC and other companies have been chosen here to provide some good example of a business running of a large international group. The report will be separated into there parts and trying to provide more detail of business functions and process through different aspects.
External Stakeholders and the Organisation
According to Johnson. G, Whittington, R. and Scholes, K. (2011), stakeholders play important rules in a organisation, especially a large organisation because there are different expectations, even confliction between those stakeholders in a organisation. Stakeholders can be divided into four types regarding to their relationships to the organisation and how can they affect the whole organisation. These four types of external stakeholders are: Economic stakeholders, Social/Political stakeholders, Technological stakeholders and Community stakeholders. Figure 1 shows clearly what the relationship between them and an organisation.
To identify these important stakeholders, stakeholder mapping is one of the best approach for an organisation to identify their own stakeholder. Figure 2 is an example of external stakeholders mapping of E.ON Energy, which identify the stakeholders of this organisation.
Stakeholders can play different roles in different areas within a organisation. They can also make influence on these areas, the following parts will specifically explain the influence of stakeholders.
External stakeholders can make influence on the sustainability of an organisation, when a organisation making a business decision. Nowadays sustainability is becoming more and more important in our life. Not only governments considering sustainability, but also large organisations and even local residence considering sustainability. Briedenhann, J. (2011) introduced that legacy and sustainability becoming more and more important for large sporting events such as the FIFA World Cup. and these decisions are influence by external stakeholders such as the government and local residence. In the case study of Tesco PLC, the organisation is performing well in the global market according to the sustainability. With the influence of different political groups (external stakeholders). Tesco PLC create a zero-carbon training academy in South Korea. The organisation is recognized by the Carbon Disclosure Project as a top retailer in the world. This is because the company has follow the influence of external stakegholders and made big contributions to the sustainability. Furthermore, the organisation also decide to progress towards on this objectives and traget themselves being a zero-carbon business by 2050. (Tesco PLC, 2011)
Economic stakeholders are the key players for a large retail company when the...