Business Environment Report 2022

Running head: BUSINESS ENVIRONMENT
Business Environment
Name of the Student
Name of the University
Authors note

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BUSINESS ENVIRONMENT
Executive Summary
This report examines different types of stakeholders, their identification in respect of a
specific industry and how they influence the organizational activities. The selected
organization for this report is ICICI bank. The stakeholders of the bank is identified through
PESTLE analysis. The interest of these stakeholders and their influential power is also judged
in this report. This stakeholder analysis would be instrumental in understanding the
expectations of the stakeholders for the organization and enhance the communication to
reduce risks. The business opportunities would be increased this way and the conflict of
interests between the stakeholders could also be managed. The report have a comparison of
the stakeholder’s interest in two different industry in the later part.

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BUSINESS ENVIRONMENT
Table of Contents
Introduction and background information.....................................................................3
Identifying the functional areas......................................................................................3
Identifying internal and external stakeholders and their roles.......................................4
Identifying the nature and degree of main stakeholders’ interests.................................6
Implications of conflicting interests...............................................................................7
Identify the level of main stakeholders’ influence.........................................................7
Stakeholder matrix.........................................................................................................8
Comparison..................................................................................................................10
Conclusion....................................................................................................................10
References....................................................................................................................12
Appendix......................................................................................................................15

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BUSINESS ENVIRONMENT
Introduction and background information
Stakeholders are the people who could affected or be affected by the business
operations and actions. Stakeholders could be an individual, group of people or a
constituency that have an impact or be impacted by the business’ activities. According to the
stakeholders theory the main objective of any business is to secure profit for the stakeholders.
Organizations have shared goals and it works with the stakeholders to create mutual benefits.
Therefore it is necessary for an organization to identify their stakeholders and assess the
impact of these groups on the business scenario. In most of the business sectors stakeholders
are owners, managers, customers, suppliers and government. The problem in managing
stakeholders is in the fact that different stakeholders of a company have different kind of
interest. Therefore, the company finds it difficult to manage and please all these stakeholders
at same time. This report will talk about the banking sector, specifically about the ICICI bank
stakeholders. It will discuss about external and internal stakeholders, degree and nature of
stakeholder’s interest and their influence level on bank’s activities.
Identifying the functional areas
The functional areas in an organization are the group of people or employees who
have similar set of expertise and skills. Mostly the operational and management departments
together are called functional areas. In the banking sector, the organizations like ICICI bank
has functional areas like Sales, Product Control, Compliance, Quantitative Analytics,
Finance, Human Resources, Operations and IT. Each of the functional areas have its own role
in company performance. As opined by Eskerod & Jepsen (2016), sales functional area in
banking have their managers, mortgage advisor, cashiers and so on. The product control is
operated by the middle office and this part of the banks are responsible for the trader support.
Analytics team is the most crucial one that consists of employees who do highly