Financial, Sustainability and Integrated Reporting
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Added on 2020-04-21
Financial, Sustainability and Integrated Reporting
Added on 2020-04-21
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Running head: FINANCIAL, SUSTAINABILITY AND INTEGRATED REPORTINGFinancial, sustainability and integrated reportingName of the universityName of the studentAuthors note
1FINANCIAL, SUSTAINABILITY AND INTEGRATED REPORTINGIntroduction:The report is prepared to discuss of three different stakeholders of organization. It dealswith demonstration of information required by each group of stakeholders and the reasons ofsuch information required by them. In this report, selected organization is Woolworths Limited.Woolworths limited has always attempted to build stakeholder relationships and stakeholder engagementthat has been integral part of doing business. The stakeholder engagement framework has been developedby setting up cross functional team and shifting to a more inclusive model (Ditlev-Simonsen &Wenstøp, 2013). The three important stakeholder groups of the organization includes customers,employees and shareholders or investors. Discussion:Customers- Woolworths engage with customers to understand their needs and growing revenueby enhancing brand. The information needs for customers involve understanding their needs andrequirements as it is essential for providing them with right products at right time and getting exactlywhat they are looking for in the specific stores. One of the most important part of organization to becomea customer oriented business is listening and understanding their needs. Customers seeks informationabout services, products and all format strategies by ensuring that organization understand their utilitiesand intent. They intend to provide organization with the new opportunities and enhancing thesegmentation model so that business comes up with needed products. Maintaining close contacts withcustomers helps in satisfying their needs. Customers are able to share their feeling and thoughts byseveral feedback methods used by marketers or business. Customers are regarded as the key driver fordecisions that is taken throughout the business (Lawrence & Weber, 2014). It can be explained with thehelp of instance that customers might seek information about raw materials used in the manufacturingprocess and usage of such materials would be affected by reaction of customers to products design.
2FINANCIAL, SUSTAINABILITY AND INTEGRATED REPORTINGTherefore, there are many reasons that is associated with requirement of information as customers wantorganizations to develop products that would satisfy them. Shareholders or investors- Investors and shareholders represents the owners of company as theyown a percentage of shares of organization. Shareholders seek information about profitability position oforganization as they are provider of funds. Information of total cash inflow and outflow, balance sheetposition depicting the assets and liabilities and information about income statement of company is soughtby investors. Profitability, efficiency, liquidity and solvency position of Woolworths would help investorsin undertaking correct financial decisions. This will help them to provide with informed perception aboutorganization so that positive investment environment is created. Such information helps in creating atimeous, relevant and transparent communication so that investors and shareholders are provided withthrough understanding of Woolworth’s performance and adopting strategy of going forward. Woolworthsprovide shareholders with several financial statements in annual report depicting their financial position(Rodrigue et al., 2013). The price of shares listed in stock market should be provided to them as itwould assist them in making long-term and short-term investments accordingly. Favorable financialposition helps in maintaining credibility position of organization and would generate favorable return tothem. Information about financial position of Woolworths is of utmost important to investors (Wolf,2014). Such information is required by this particular group of investors for evaluating their investmentsmade in equity and gaining relevant and reliable data in the financial statement. It helps in gauging howwell earnings are generated by organization. Suppliers- Suppliers are another important shareholders in organization such as WoolworthsHolding Limited. Development of fair and reliable relations with suppliers help in sourcing raw materialsfor the products in proper and ethical way. Suppliers views the reputable position of organization and theysupply with innovative, new and standard products by delivering consistent quality. Suppliers seekinformation about the raw materials are processed so that they are able to maintain and ensureenvironmental and social responsibility across their supply chain. One of the pre requisite of suppliers is
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