Stakeholder Analysis of Sainsbury: Theories, Practices, and Methodologies
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This report provides a detailed analysis of stakeholder management in Sainsbury, including a clear description of the organization and its stakeholders activities, theories and practices of stakeholders analysis, relevant research methodology and secondary data, findings, and recommendations.
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Table of Contents INTRODUCTION...........................................................................................................................3 MAIN BODY..................................................................................................................................3 A clear description of the organization and its stakeholders activities........................................3 Theories and practices of stakeholders analysis..........................................................................4 The usage of relevant research methodology and secondary data according to the topic...........6 Secondary data and findings........................................................................................................8 Recommendations........................................................................................................................9 CONCLUSION..............................................................................................................................10 REFERENCES................................................................................................................................1
INTRODUCTION Stakeholder management or analysis is the procedure by which an organization is able to manage, supervise and amend their relationships with the stakeholders. It includes systematic identification of stakeholders by evaluating the requirements and expectations along with appropriate planning as well as implementing various assignments in order to engage with their stakeholders in highly effective manner (Delgado Zapero, 2020). Stakeholders are of certain typeswhichincludeusers,suppliers,influencersandgovernancepeople.Hence,their management in appropriate ways are extremely beneficial for any organization. This report will illustrate the concept by choosing Sainsbury as the firm through which certain aspects such as theories and practices will be discussed. Apart from this, the study will also highlight relevant research methodology, data analysis and final recommendations along with conclusion regarding the project topic. MAIN BODY A clear description of the organization and its stakeholders activities. The term stakeholders defines as a team who puts their efforts and hard work to furnish the work structure in the effective way. The management has a responsibility of maintaining the level and reputation of the work process by delivering the goods and items to the consumer with a better approach, qualities products and excellent promoting skills. This management can also include thecommunicationandrelationshipsskillsastheyarethemainfactorsfromwhicha stakeholders can contribute in the organization success. In the context of a company Sainsbury, heredescribingabriefintroductiononthecompanyanditsstakeholdersabilities.An organization namedSainsburywhich is the second largest trading company in the field of supermarkets located in the United Kingdom. The company was founded in 1869 by John James Sainsbury mainly dealing with groceries. It includes the fresh food substances and deliver with the extra convenience. Sainsbury was established in a partnership in 1869, John and wife Mary Ann opened their store at Drury Lane, London. At first, they started to sell the food items but later on they started to keep the sugar and tea packages to be sold. Stakeholders are the group of people who supports in running the organization in different sectors. It includes the trading strategy as keeping the process value low and provided people the best quality products which makes their store valued. In the previous time, the cars are not easily available at the roads, so they have to think of the location and sites if the sites equally from which they can deliver the
products in an individual houses(Petljak, and et.al., 2018). They prefer to locate the store at the corner side from which the products and items can be easily displayed to each consumer, and they can approach the higher consumer scale. Stakeholders are the people who own the major portions of an organization and acquire the net income of a company. Driving an organization requires a staff who have talent and approaching power. The organization keeps the employee relation at a better place and provide the best efforts to them to feel comfortable. They also organize the meetings where the staff can put their suggestions and issues from which they are suffering from and ask the manager. Now times, Sainsbury have 1,411 grocery market in the UK and leading at the second largest retailing position in a year 2014, where it is occupying the 16.8% of total market share. The store mainly deals in fresh and frozen vegetables and fruits, prepared salad and fresh herbs in the stock. The company also launched or operated in Sainsbury fuel and started selling diesel and petrol(Șerban., 2017). Along with this, they also own the Argos, habitat, nectar and Sainsbury bank brands and provide the consumer a strong and profitable growth in food business. Theories and practices of stakeholders analysis Stakeholder is a person or group of persons that can affect or affected by business organization.Inordertodealwithvariousdiscussions,stakeholderstheoryhelpsthe establishments to evaluate the ways through which the firm can fulfil all the requirements and desires of their stakeholders. In context of Sainsbury, it has been evaluated that the management of the company greatly serve the interests of the shareholders and wish for their company to reach its fullest potential that will take the interests of the stakeholders into account and studies over their businesses and managers. There are different types of stakeholders theory according to which among varied versions, one theory greatly tries to identify the stakeholders of the organization. With the help of this theory, the Sainsbury identify their stakeholders along with studies the conditions under which their manager acknowledges such persons or their groups (Ghinoi, Silvestri and Steiner, 2019). The descriptive theory of stakeholder is extremely useful as it helps to promote the study of how Sainsbury functions as part of its larger environment and how its general procedures of operation affect their stakeholders. Overlooking the interests of stakeholders is an unethical practice. With the inclusion of stakeholder theory, the corporation acts as a part of the social body and not a separate entity. The firm has accountable for the people and groups other than their owners by impacting the lives of
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individuals such as customers and specifically their employees who are highly dependent upon the firm. This also impacts the groups like governmental bodies which in turn impacts the country as well as their citizens. Major corporate bodies have an importance over the economy of multiple countries. This greatly affects the lives of people ho are not actually connected to the firm in one or other ways. Basically it has been evaluated that there are three aspects of stakeholders theory such as descriptive approach which explains the features and actions of Sainsbury. This involves the whole procedure of management and the ways in which managers manage the things. Another one is instrumental theory of approach which make use of empirical data to identify links among the management of stakeholder groups along with the attainment of corporate goals. It is very normative kind of approach which establishes ethical guidelines for the functioning of the Sainsbury (Zedan and Miller, 2017). In order to discuss the practices taken by Sainsbury for effectively manage their stakeholders include the evaluation of stakeholders matrix. It is very effective tool for analysing the stakeholders. This has been analysed against certain criteria and plotted over the graph as it helps to take detailed decision based upon the quadrant in which any specific stakeholder falls into. Stakeholder involves any individual or group of people with an interest in the firm. Some stakeholders will be internal to any establishment and others will be external. It is a kind of Stakeholders Matrix
person who are affected by the activity whether negative or positive within the establishment. The list of stakeholders of the Sainsbury are: Shareholders: These are the persons who own shares that they bought are acquired legally in a profit oriented organization. These have made an investment to get these shares, and they gain back in two ways such as with dividends and by selling their shares for profit margin. Suppliers: Sainsbury have their suppliers from international market as they offer more than 30000 products to their customers. The firm believes in sourcing with integrity and this has been achieved by forming partnership that raises environmental and social standards. Hence, the firm shows their high level of commitment to not only their clients but also to their suppliers. Managers: The managers are the ones who carry out vision and goal of the organization. The current growth rate of Sainsbury is related to the ability of the managers at diversified level to harness the basic human and other material requirements to expand the team (Kvam, Considine and Palmeri, 2018). Staff: Employees are the ones who put their best to continue to help the firm to meet their strategic goals. Sainsbury continues to create more job opportunities and train their staff members. Customers: They are highly significant and the end users of the products. Due to online purchase the customers are cutting across borders. The customer's interest is that they continue to get good quality products from the enterprise at fair prices. The community: The community plays a major role in the establishments in order to have competitive advantages. Sainsbury provides great services, good quality products and are good neighbours. Sainsbury also continues to support local charities. The usage of relevant research methodology and secondary data according to the topic With the use of effective practices in context of research methodology within this project, the scholar is able to analyse the situations and situation arises among the Sainsbury in highly successful manner. In this project the stakeholder analysis comprised with qualitative technique in order to examine their participants. Originating from the organizational and behavioural sciences and economics, a stakeholder analysis is rigorous research methodology which is used to identify and assess the significance key group of people or institutions that might have
significant influence over the success of research project (Karolemeas and et.al., 2021). As an emergent research methodology, stakeholders analysis examines participants positions and their influence in a group they belong, as well as the possibility of other groups influencing them. It helps in order to identify or determine particular groups or individuals interests in the outcomes of a given research. Furthermore, the stakeholders' matrix have been utilized as a tool for engaging varied groups to build relationship with each other. The procedure of data collection in the stakeholders' methodology is undertaken in various steps such as the primary step is to develop the research issue or problems which is followed by identification of potential people, organizations and groups with vested interests in the research outcome. The next step is to gain clear understanding about the roles and responsibilities and contribute into different stakeholders along with the Sainsbury institutional affiliation. This phase is specifically necessary to make sure the balance representation of the stakeholders. It is also intended to clearly distinguish between those who would be directly affected by the project outcomes from those who are likely to influence the results of the research. In order to complete this project, the verifiable secondary data was utilized as it is readily available to the author and considered as less costly than quantitative approach. It is basically collection of data into non-numerical format with the help of observations, interviews and previous studies (Li, Quan and Wang, 2020). In order to complete this research, inductive research method is applied because it allows flexibility to the scholar in order to assist the generations of new and advanced theories. Apart from this, in order to evaluate the study in highly efficient manner, interpretivism research philosophy method has been used into this project because the final outcome occurs at the end of the study does not rely on over numerical data which helps the researcher to prove research challenges regarding the evaluation of stakeholders analysis of Sainsbury. In context of research design, descriptive research designing method has been adopted to give proper and detailed knowledge about the topic along with the cause and effects of studying this specific topic (Suhaib, 2019). For further studies, which are related to the stakeholders' analysis of the Sainsbury, the data will be collected through the medium of secondary data collection method by utilizing viewpoints of different authors and scholars. In order to analyse qualitative data effectively, thematic perception test technique has been used. The secondary data analysis or collection helps to make or evaluate certain gaps along with deficiencies along with
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the additional information that are needed to be collected. Although there are certain limitations also have been incurred within the project of stakeholders analysis as the previous studies sometimes made difficult to obtain information highly specific to the needs and requirements of the researcher (Cramer and et.al., 2020). This helps in order to gain exploratory insights among the stakeholders' analysis study of Sainsbury. However, the scholar win holds information such as the sponsor or the specific purpose of the study, then it is considered to be unethical. Secondary data and findings. Stakeholdersarethegroupofpeoplewhosupporttheentireorganizationprocessfrom productiontothedeliveringitemstoanindividualperson.Sainsburyalsohasdifferent stakeholders which includes society, suppliers, consumer, producer, community and employee. All arethe majorpartin running theentireorganization(Barić,2017). In general,the organization also should contain and analyse the information from the secondary data sources which will help them to grow in the better manner. The term secondary data refers as a collection of the data or information which has been already collected through sources other than primary users. In the above report, it has mentioned the methods of the secondary data which includes the public records, business documents, technical and trade journals and many more resources. In other term, the data collection is the gathering of the information from which an organization or an individual can research the problem and obstacles. Along with this, qualitative data can be observed and recorded. It is a non-numerical data in the surroundings and it contains different methods and observations to acknowledge. This qualitative data can also be utilized in the mathematical formation or statistical analysis. Nowadays there are both advantages and disadvantages of the secondary data in the organization. Looking at benefits then, the data can provide ease in researching as in modern era the internet makes the searching and finding very easy which can be useful for the stakeholder of the company(Bravi., 2021). It can be benefited by these sources as it is a time saving objects and activity, and they can obtain the fine advantage in the work process. Moving to disadvantages then, stakeholders cannot control over the quality of the materials and decision-making process as it is known that the information has been pre-planned. In the context of Sainsbury company, performing the relevant act of secondary data in the organization. In this company secondary data includes the internal sources like customer complaints, suggestions, sales and order. Apart
from this, it also involves the commercial and marketing consultants to improve their business. Secondaryfindingsaretheimportantfactortodriveacompanyatsuccessfulposition. Stakeholders are the one who should focus in the secondary or qualitative data as they cannot have research for the strategies and models to implement in the organization. Today, there are many relevant theories and concepts are collected which are included in the secondary data form. In the retail industry, the finding are the important source to approach the consumer and follow the different theories which will increase the consumer and economy scale values. Apart from this, it improves the knowledge of the field and market positions accordinglyfromwhichSainsburycanbeabletodevelopmorewiththehelpofits stakeholders(Dirani, and et.al., 2020). Some data are coasted and some are provided free as newspaper are the free resource to attaining the knowledge but looking at some websites which has to be subscribed and then an individual can utilize. Thus, the secondary information can be use4filto an organization if they can utilize in the proper manner. Recommendations Stakeholder Orientation :In any organization it is already known that running any department requires the people which can manage the different departments. An activity of orienting the stakeholders should be organized in every department to increase the growth and development of the company(Lundgren, 2021). Sainsbury should provide the roles and responsibility to the
individual in the detailed manner so that they can understand the seriousness and work process of the company. Including them in developing plans can provide a management a better ideologies or result at the end. A retail company can arrange the webinar where projects and information can be discussed with the planning and resulting. Recruitment :In a process of recruitment which defines as hiring of an employee for an organization or an industry. It has been recommended that Sainsbury company should follow the methods from which they can hire a people with the suitable job roles. Offering the people affordable salaries and other measures will affect the growth of company as when an employee is satisfiedthenonlytheycanputeffortswhichwilldriveacompanyatasuccessful position(Hanff,and et.al., 2021). Employee are the part of stakeholder which will decide the organization development. Methods of engagement :This method will help to understand and making the connection with both sides of the management. The method of engagement can be understand as stakeholders are of different types and important in its individual way but keeping them interacted and respecting them equally can create a engagement from which they will feel a valued part of Sainsbury organization. In research also it has been demonstrated that when stakeholders are engaged with each other they provide a unique and brighter growth of the organization which leads the company at stable level. Analysis :It has been recommended to Sainsbury company that they should focus on the analysis of the stakeholders so that they can give their best in receiving the outcome. The analysis of the performance can include all the departments such as production, market positions, management, consumers and even employee as well(Hanafiah, and Zulkifly, 2019). Powerful stakeholder management can provide an excellent profit in the future existence of the mentioned organization. Applying this theory can lead to maintain the profitability and improvement in the stakeholder performance and activities and maximize the success. CONCLUSION This report is concluding the concept of stakeholders of a Sainsbury company. The stakeholders plays a important and vital role in the organization success. It includes all the functions and activities which can be useful for any department to increase their productivity and management approaches. Along with this, the article demonstrated the importance and theory of stakeholder
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analysis from which a company can be developed at higher level. Apart from this, the report also concluded the meaning of secondary data and provide some recommendations to enhance the company growth.
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Bravi, L., 2021. Corporate Social Responsibility Practices in the Retail sector: a Multiple Case StudyAnalysisofUSRetailers.InternationalJournalofEconomicBehavior (IJEB).11(1).pp.37-56. Dirani, K.M., and et.al., 2020. Leadership competencies and the essential role of human resource development in times of crisis: a response to Covid-19 pandemic.Human Resource Development International.23(4).pp.380-394. Lundgren,E.,2021.GLOBALREPORTINITIATIVESUSTAINABILITYREPORTING COMPARABILITY: A STUDY OF 3 SWEDISH COMPANIES IN THE RETAIL SECTOR. Hanff, A.M., and et.al., 2021. Unmet needs of people with Parkinson's disease and their caregiversduringCOVID-19-relatedconfinement:anexplorativesecondarydata analysis.Frontiers in neurology.p.1910. Hanafiah,M.H.andZulkifly,2019.Tourismdestinationcompetitivenessandtourism performance: A secondary data approach.Competitiveness Review: An International Business Journal. Online references A, B., 2018. [Online]. Available through <> 2