Internal and External Stakeholder Analysis

Context:
Business stakeholder analysis is a technique for identifying stakeholders and analysing their roles. The aim of the analysis is to map out the stakeholders’ level of influence and degree of interest with regards to the business. Stakeholder analysis can also be used to assess the relationships between different stakeholders and the issues they care about most.
Internal stakeholders are individuals or groups who are directly involved in the business, such as owners, board members, managers, employees, and investors. External stakeholders are indirectly influenced by the business activities, like customers, suppliers, competitors, society and government.
By understanding both perspectives, the business can engage and enhance communication with relevant stakeholders, reduce or prevent risks, identify business opportunities, improve internal stakeholders’ commitment in the business and the reputation of the business amongst external stakeholders.
Instructions:
In this assessment, you will examine a business in an industry that you have either previously worked in or would like to in the future. Leading up to the assessment submission, you must participate in the Assessment 2 weekly discussions in the Discussion Forums on Blackboard. You will locate this discussion forum in the Assessment Area of blackboard. Weekly contributions are required in Modules 2-4.

Solution

Stakeholder Analysis

Introduction

From an organizational context, understanding the roles played by different parties in running operations is important in business. Both the public and private sector entities have individuals who run them and those who are interested in the manner in which they are run. Stakeholders are individuals who have vested interests in the way organizations are run. The former influence the way business is run or are affected by how activities are conducted in the organizational setting. In this way; it is vital to factor in the contributions that the stakeholders introduce in running the affairs of an entity. For this discussion, stakeholder analysis will be conducted using the case of Woolworths Group Limited. The company is an Australian retail entity that runs a chain of supermarkets around the world. It specialises in trading groceries, household items, health and beauty products, magazines, and stationery items, among other retail commodities. In its capacity as a business organization, Woolworths has both the internal and external stakeholders who influence the way the firm is run and are affected by the actions of the management team.

Functional areas

Woolworths, as a global retailer runs a conglomeration of different functional areas that facilitate the generation of the end products and services to the customers……………………To access the rest of the solution for $10, please click on the purchase button.