Business Stakeholders Analysis - Internal and External Stakeholder Analysis

Running Head: BUSINESS STAKEHOLDERS ANALYSIS
0
Internal and External Stakeholder
Analysis
Business Environment
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BUSINESS STAKEHOLDERS ANALYSIS 1
Executive Summary
Business Environment is a vital part of the business as it can be analysed by
examining the effect of internal and external factors. Stakeholders have its importance in
assessing the impact of environmental influences. They are the individual or group of people,
both internal and external that can affect the sustainability and functioning of the business.
Internal stakeholders are owners, employees and shareholders existing within the company
whereas external holders are the government, customers and suppliers that exist outside the
company. They have the major contribution in the profitability of the company and their
analysis is used to analyse the effect. Also, it requires avoiding the negative impact through
corrective measures in order to execute the plans and policies in the interest of the
stakeholders.

BUSINESS STAKEHOLDERS ANALYSIS 2
Contents
Introduction................................................................................................................................3
Coles – Wesfarmers...................................................................................................................3
Functional Areas........................................................................................................................3
Internal and External Stakeholders............................................................................................5
Roles.......................................................................................................................................6
Nature and degree of key stakeholders’ interests.......................................................................8
Implications............................................................................................................................8
Level of main stakeholders’ influence.......................................................................................8
Stakeholder Matrix.....................................................................................................................9
Analysing stakeholder differences and dissimilarities.............................................................10
Conclusion................................................................................................................................12
References................................................................................................................................13

BUSINESS STAKEHOLDERS ANALYSIS 3
Introduction
In today’s time, the process of assessing and identifying the impact of individual
groups in the success of the company is known as business stakeholder analysis. It helps in
understanding the information and attitudes needed of various stakeholders planning a
communication program and building positive relations with important groups mostly. There
are internal and external stakeholders of the company impacting business in various ways
(Eskerod & Jepsen, 2016). The conduct of day-to-day business with an ability to work
efficiently and productively is directly influenced by employees, contractors, labour unions
and suppliers whereas the ability of attracting funds for growth and investment is influenced
by shareholders, financial analysts, investors and bankers. In business, the barriers are created
by regulators and government authorities by imposing regulations or other limitations. The
powerful pressure groups are formed by members of company’s local community when they
feel of business plans having an adverse economic or environmental impact (Linton, 2019).
In this report, the aim is to analyse the internal and external stakeholders of the company
Coles – Wesfarmers taken as an example identifying its fundamental areas and roles of its
stakeholders discussing their impact on business.
Coles – Wesfarmers
In Australia, Coles is a leading retailer providing groceries, liquor, fresh food, general
merchandise and fuel within its store network and online with over 2,500 retail outlets having
more than 101,000 team members and operating a national store network of 858 liquor stores,
776 supermarkets, 662 fuel, 90 hotels and convenience outlets owned by Wesfarmers
(Wesfarmers, 2015). Coles receive performance feedback from a range of stakeholders
mentioning material issues supporting Australian-made food, and product safety and quality.
They deliver quality, service and value to customers shopping countrywide (Grimmer, 2018).
Functional Areas
In business, different functions are controlled and performed with the help of different
parts. The company operations of business are separated in various functional areas allowing
within the expertise for building effectiveness and efficiency. The key functional areas of a
business are management (human resources), marketing (advertising), operations, production,