BUSINESS ENVIRONMENT.

Business
environment

BUSINESS ENVIRONMENT 1
External Stakeholders
External stakeholders are group outside the business or people who don’t work inside the
business but they affect the business in terms of decision and actions (Henisz, 2017). Wesfarmers
Limited is an Australian conglomerate that operates in chemicals, fertilizers, coal mining, and
industrial products. Wesfarmers is a reputed company in the market of Australia that is why
external stakeholders play the essential role in success of the organization. The external
stakeholders of the organization are discussed below:
Customers
Customers are the main drivers of any business. Wesfarmers main external stakeholder is
customers as their feedback helps the organization to achieve high growth. Customers play an
important role in the organization as they helps to earns high revenue by purchasing the
company’s product. The feedback of customers directly affects the reputation of the organization
in both aspects such as positive and negative.
Suppliers
Wesfarmers have a strong relationship with the 18000 suppliers across the groups that are very
essential for them (Wesfarmers, 2019b). Suppliers are important for the organization as they
helps to ensure the efficiency in consumers supply chains. The services provided by suppliers
directly affect the sales of the product of the company as the quality of the product is relies on
their services.
Government