Stakeholder Analysis for Wesfarmers

STAKEHOLDER ANALYSIS

Executive Summary
This report brings out a discussion on analysis of stakeholder of Wesfarmers. This analysis is
a defined as planned identification, examination, and prioritisation of the people who effect
the interest and influential concern leading to change in decision-making. This report analysis
the projects, business, and programs that will help in the development of efficient stakeholder
communication and its related engagement strategy (Wesfarmers, 2015). Stakeholder matrix
is one of the main fundamental element in regards to stakeholder`s management plan. This
report considers the relatedness, which either directly or indirectly affects the operations.
Internal and external stakeholders include senior management, employees, board members,
and directors. External stakeholders affect the organisational decisions. For example-
creditors, local community, suppliers, government agencies, investors, society, and customers
(Nelson, Smith, Ly, Gustavsson, Sudlow, & Bexelius, 2018).

Contents
Executive Summary..................................................................................................... 1
Introduction............................................................................................................... 4
Identify functional areas................................................................................................ 4
Comparison of stakeholders according to different industry....................................................5
Identify internal and external stakeholders and their roles......................................................5
Conflicting interests..................................................................................................... 8
Identify the level of main stakeholders’ influence................................................................9
Create a stakeholder matrix............................................................................................ 9
Conclusion.............................................................................................................. 11
References.............................................................................................................. 13

Introduction
Wesfarmers is an Australian business conglomerate, which is headquartered in Perth,
Australia. The company operates several subsidies such as Bunnings, Coles, officeworks,
Kmart Australia, and Target. The company was established in 1914, as it is one of the largest
listed organisation in Australia and New Zealand (Wesfarmers, 2015). In order to analyse the
impact of stakeholders on the decision making of the organisation. It will be crucial to the
success of business projects. Creation of stakeholder`s matrix has led to development of
understanding of main people that can affect the success (Koehler, & Raithel, 2018). This
map provides a foundation of the communication and the engagement strategies. The diverse
business includes home improvements, outdoor living, general merchandise, and apparels,
industrial divisions that are associated with the different business in energy, chemicals, and
industrial and other safety products. It is useful to find the potential risks that come from
negative stakeholders (Ramus, & Vaccaro, 2017). The main purpose of using the stakeholder
mapping is review of organisation on regular basis. It helps to assess the changing
environment of business while emerging new business initiatives. The company maintains the
largest shareholders base and employers of nearly 490000 (Wesfarmers, 2015).
Identify functional areas
Marketing
Human resource management
Supply chain and operations
Transportation (Mosey, Kirkham, and Noke, 2017).
Supervision of its convenient stores
Cash handling and prevention of loss (Ahlan, Kartiwi, & Sukmana, 2015).