Impact of Stakeholder on the success of a business

This document discusses the impact of stakeholders on the success of a business. It explores the role of stakeholders in decision-making and the welfare of the firm. The document also highlights the importance of support from stakeholders and the need for proper planning and analysis in conducting research.

Impact of Stakeholder on the success
of a business

Table of Contents
Assessment 1: Poster..................................................................................................................3
Assessment 2: Reflective account..............................................................................................3

Assessment 1: Poster
Enclosed in Poster
Assessment 2: Reflective account
In order to write reflection, Gibbs model of reflection is chosen that assist to present or share
the entire experience in better manner. The model is well known and to share own experience,
reflective cycle is presented which is as mention below:
Description
The overall journey of research is so good and I learn many new things which help me in my
future life. As I do not know have enough knowledge related to my field because I am a learning
student, but this research provides me an opportunity in order to engage myself within the research to
make it more interesting and knowledgeable (Nikina, Shelton and LeLoarne, 2015). During Week
1 and 2, the tutor taught us about how to write an introduction for the research as well as defining a
research problem.As there are many up and down but with the help of tutor, I am able to solve the
problem and manage the work accordingly.
Feelings
Before conducting the research, I was quite nervous because I do not have enough knowledge
regarding how to present the study and though it was better if we perform the work in a group. Also,
after making some efforts I feel satisfied because I learn new things and even it assists to enhance my
current knowledge and step by step, I started working in order to collect results.It was during the next
two weeks, Week 3 and Week 4, that we learned how to develop aims, objectives and a hypothesis.
We also learned what all is included in the literature review section (Tarhini and et.al., 2015).As
my topic is to determine the impact of stakeholder upon the business success and thus this study or
research provide me an opportunity in order to learn the role of a stakeholder within a business.
Evaluation
The overall things were well because it assist me to enhance the personal and professional
skills. Such that I raise my ICT skills as I have to deal with MS Office in order to present poster. So,
this reflect that I improve the skill and the study is based upon secondary research, so I improve my
research skills because relevant articles are selected in order to determine the impact of stakeholder
within a business success (Sinclair, Zito and Phillips, 2017). Further, I possesses good digital
skills and also have an economic ability which assist me to collect the information in better manner
and also learn new things as well. Week 5 and Week 6 involved the tutor teaching us aboutwriting
research methodology and ensure that it is informative.Moreover, I also improve the time
management skills because before starting the project, I try to make draft the things and specify the

deadline for each stage so that I am able to meet the entire work in better manner. The same thing I do
while I conducting the study and as a result, I am able to improve my skills.
On the other side, I think that other teacher and tutor also helped me a lot in order to
successfully completed the project (Stubbs, 2017). As there were many situation, where I think that
I face issue, teacher support me and as a result, I meet my define aim and present the poster in well
define manner. In addition to this, I face more good experience rather than bad experience throughout
the research and I also improve ICT and time management skills which will also help me in future.
Analysis
As the entire research is went well because of the support which I got from other. Also, I have
experienced working this way before and discovered when I am working by myself I enjoy working
in areas that match my strength. Planning before implementation is also fruitful because it assist me to
set the target and I have to meet the same within a specific tenure (Dreyer and et.al., 2017). As
there are so many material available in Internet and I search through literature and finally found some
relevant research which help to answer the questions and reach to final conclusion. In order to
perform well in near future, I think to work in a group instead of individually, so that it will help me
to conduct the study in more precise manner. Data collection, population from the main components
of any research. And these topics were taught us during Weeks 7 as well as 8.During the study, I also
uses theory and come to realize that by supporting the study with theories and model, the answer are
generated in well manner, that is why, I did the same. Also, during the development of module, I
analyze that organizational culture is also plays an important role in the success of a business. For
example, if the company have negative working culture and there is no hierarchy, then it affect the
morale of employees and as a result, most of the employee leave the business and thus, company
performance got affected (Taghian, D’Souza and Polonsky, 2015). That is why, it is clearly
analyzed that for running a business, there is a need to have proper support from stakeholder in order
to generate the best results and also meet the define aim.
Conclusion
Thus, from the reflection it has been concluded that I improve many skills during the research
such that ICT, time management skills and research skills which will alsohelp in my future. Even,
when the same study will be conducted in future, I make sure that I draft a plan and would like to
prefer a work in a group. Further, I also concluded that the study provide me an opportunity in order
to gain enough knowledge and utilize the same in the future as well. Moreover, study also concluded
that in every business, there is a need to have a support from stakeholder because they provide support
to company and assist to make better decision making for the welfare of a firm.Before the final two
weeks, i.e., Weeks 9 and Week 10, we learned how to analyze the collected data and assessment

clinic.Also, the overall journey while conducting the research is good and enhance the knowledge for
the same.
Action Plan
In future when the same study is conducted, I make sure to work in the group so that it will
not create any opposite impact and also I learn many new things within a group. As I already prefer to
work in a group rather than individual because working in a team will help me to learn new things and
also able to share opinion which in turn leads to improve the knowledge within a specific area.The
last two weeks, i.e., Week 11 and Week 12 helped us enhance our understanding about writing results,
findings, conclusion as well as making recommendations.Also, I start working in ICT skills in order
to improve the digital skills because in the era of digital technology, there is a need to have an enough
knowledge that assist to meet the define aim and complete the work in better manner.
REFERENCES
Books and Journals
Nikina, A., Shelton, L.M. and LeLoarne, S., 2015. An examination of how husbands, as key
stakeholders, impact the success of women entrepreneurs. Journal of small business and
enterprise development.
Sinclair, M., Zito, S. and Phillips, C.J., 2017. The impact of stakeholders’ roles within the
livestock industry on their attitudes to livestock welfare in Southeast and East
Asia. Animals, 7(2), p.6.
Tarhini, A. and et.al., 2015. Analysis of the critical success factors for enterprise resource
planning implementation from stakeholders’ perspective: A systematic review. International
Business Research, 8(4), pp.25-40.
Stubbs, W., 2017. Characterising B Corps as a sustainable business model: An exploratory
study of B Corps in Australia. Journal of Cleaner Production, 144, pp.299-312.
Dreyer, B., and et.al., 2017. Upsides and downsides of the sharing economy: Collaborative
consumption business models' stakeholder value impacts and their relationship to
context. Technological Forecasting and Social Change, 125, pp.87-104.
Taghian, M., D’Souza, C. and Polonsky, M., 2015. A stakeholder approach to corporate
social responsibility, reputation and business performance. Social Responsibility Journal.

Aguinis, H., and et.al., 2019. A pluralist conceptualization of scholarly impact in
management education: Students as stakeholders. Academy of Management Learning &
Education, 18(1), pp.11-42.
Long, T.B., Looijen, A. and Blok, V., 2018. Critical success factors for the transition to
business models for sustainability in the food and beverage industry in the
Netherlands. Journal of cleaner production, 175, pp.82-95.
Schenkel, M., and et.al., 2015. Creating integral value for stakeholders in closed loop supply
chains. Journal of Purchasing and Supply Management, 21(3), pp.155-166.
Herrera, M.E.B., 2016. Innovation for impact: Business innovation for inclusive
growth. Journal of Business Research, 69(5), pp.1725-1730.