Stakeholder Analysis for Marks and Spencer and Keep Britain Tidy
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This article provides a stakeholder analysis for Marks and Spencer and Keep Britain Tidy. It includes the stakeholders' interests, their influence on the objectives of the businesses, and an evaluation of their influence on the chosen organization.
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Running head: STAKEHOLDER ANALYSIS STAKEHOLDER ANALYSIS Name of Student Name of the University Author Note
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1STAKEHOLDER ANALYSIS Table of Contents Introduction......................................................................................................................................2 The stakeholders interest in the Marks and Spencer.......................................................................2 The stakeholders interest in Keep Britain Tidy...............................................................................3 The way in which each of the stakeholders influenced the objectives of the two businesses.........4 Evaluation of influence of stakeholders on any a chosen organization...........................................4 References........................................................................................................................................5
2STAKEHOLDER ANALYSIS Introduction The marks and Spencer company is a retailer business that is multinational, and has its headquarters in London. It is basically engaged in producing high quality food products, home products and clothing. The company is a limited liability company. A limited liability company is one where the liability of the shareholders or the owners is limited to the face value of the shares held by them (Marksandspencer.com 2019). The mission of the company is to provide high quality products to everyone and services by offering wider product range and providing depth of products and it is based on core values of providing values, service, quality, trust and innovation. It belongs to the secondary sector because it is engaged in manufacturing of finished goods andalso because it belongs to the textile industry. One if the major advantage that the private limited liability companies get is that they are financially secure from getting their personal assets attached in case of any financial problem because their liability is limited (Nudurupati et al.2015). The NGO Keep Britain Tidy is a charity that is based in UK. Its main aim is to reduce the litter, reduce waste and improve all places. The company is a charitable organization.The ownership of the company is limited by guarantee. The main advantage of being so is that in case of winding up, the members will only be liable to pay the amount that has been guaranteed by them and nothing more than that (Home | Keep Britain Tidy 2019). Their main mission is to create a company where people understand the importance of environment and therefore participate in the same. The stakeholders interest in the Marks and Spencer StakeholdersInterest
3STAKEHOLDER ANALYSIS 1.EmployeesThe employees of marks and spencer expect a goodworkenvironmentandc8kturewhere theycanfreelycommunicateabouttheir suggestionsandproblemstothetop management; they want fair compensation and various benefits. In order to meet the same the company also provides employee discounts of about 20% on M&S products to the employees and their family members. 2.CustomersCustomers expect good quality products and services from the company and in order to fulfil the same the company provides highest quality customer service and also takes part in the national customer service week. 3.OwnersThe main aim of the owners is to see that the organization exists in the market successfully and in order to meet the same the company engages in sustainable practices. 4.Pressure groupsThecompanypressuregrouponthe stakeholders expect the company to work in accordancewithvariouspoliciesand regulations and want it to work ethically. 5.The mediaThemediaisaimedatseeingthatthe organization works properly 6.local communityThe local company expects the organization to operate sustainably such that organization can reduce their impact on the society. The stakeholders interest in Keep Britain Tidy StakeholdersInterest 1.EmployeesThe employeesof acharitableorganization expect the organization to work for the society properly. 2.financiersThe financers expect the company to make use of the funds properly. 3.OwnersTheownersoftheNon-profitorganization expect it to properly serve the society with its activities. 4.Pressure groupsThe pressure groups of the organization expect them to work according to various regulations and expectation of the society. 5.The mediaThemediahelpsinpromotionofthe organization and its activities.
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4STAKEHOLDER ANALYSIS 6.local communityThelocalcommunityexpectvarious philanthropicactivitiesfromthecharitable organization. The way in which each of the stakeholders influenced the objectives of the two businesses The objectives or the vision, mission and the core values of Marks and Spencer is influence by its stakeholders because in order to meet the expectation of the stakeholders, the company tries to meet the customers’ needs by providing them the best experience. The company tries to set standards for the competitors and others (Juršytė and Ramanauskas 2018). The stakeholders influence the objective of the Keep Britain Company because according to the stakeholders the company is required to meet the needs of the society and the environment through their activities and they are doing therefore the objective of the charitable organization is decided keeping the same in view. Evaluation of influence of stakeholders on any a chosen organization In order to meet the expectations of the stakeholders, the company provides an employee discount scheme for its employees such that they can purchase any M&S merchandise at 20% discount. In order to meet the requirements of the customers, the company is aimed at improving the customers experience by providing high quality goods and services. They carry out different corporate social responsibility and also contributing to different charities (Nodoushan and Bagheri 2016). Presently there is conflicting interest between the bosses and the employees because the employees are getting lower salary whereas the bosses are getting high bonuses. In this situation it is necessary to bring fairness and transparency in the compensation system being used in the organization.
5STAKEHOLDER ANALYSIS
6STAKEHOLDER ANALYSIS References Home|KeepBritainTidy(2019).Home|KeepBritainTidy.[online] Keepbritaintidy.org. Available at: https://www.keepbritaintidy.org/ [Accessed 1 Oct. 2019]. Juršytė, D. and Ramanauskas, G., 2018. Practices and Policies in Building Relationships with Stakeholders. InMarketing Strategies for Central and Eastern Europe(pp. 133-173). Routledge. Marksandspencer.com(2019).WelcometoMarks&Spencer.[online] Marksandspencer.com.Availableat:https://www.marksandspencer.com/[Accessed1Oct. 2019]. Nodoushan, M.S. and Bagheri, M., 2016. Conflict of Interests of Company Stakeholders and Its Strategies.Comparative Law Researches,20(3), pp.136-163. Nudurupati, S.S., Bhattacharya, A., Lascelles, D. and Caton, N., 2015. Strategic sourcing withmulti-stakeholdersthroughvalueco-creation:Anevidencefromglobalhealthcare company.International Journal of Production Economics,166, pp.248-257.