Stakeholders Assignment - Solved
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Added on 2020-11-23
Stakeholders Assignment - Solved
Added on 2020-11-23
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STAKEHOLDERS
Table of ContentsINTRODUCTION...........................................................................................................................11. Analysing and evaluating the current role of two key stakeholders who are involved inmanaging the employment relationship within TESCO............................................................12. Identify the current challenges experienced by stakeholders when managing employmentrelations within the TESCO. ......................................................................................................33. Evaluate the current practical challenges managers experience when managing both theworking relationship and stakeholder expectations....................................................................4CONCLUSION ...............................................................................................................................7REFERENCES................................................................................................................................8
INTRODUCTIONStakeholders are those people or group of person who show interest in the company and are concerned about the profits and growth of the organisation. There are two major kinds of stakeholders which are categorised in internal and external stakeholders. Creditors, directors, employees and government all are considered as the stakeholders of company. In this present report TESCO has been chosen for assessment. TESCO is a British Public limited Multinational company of groceries. It was founded 99 years ago and its headquarters is in London, England. This report will majorly focus on current role of two key stakeholders who are involved in managing the employment relationship within TESCO. In addition to this, current challenges experienced by stakeholders when managing employment relations within the TESCO will also be described in brief. Furthermore, current practical challenges managers experience when managing both the working relationship and stakeholder expectations will be analysed in detail. 1. Analysing and evaluating the current role of two key stakeholders who are involved in managing the employment relationship within TESCOIn every company there are stakeholders, these are those people or group of people who have showed there interest in the business of the organisation (Andriof and et.al., 2017). These are the people or group who get affected by the operations of the business. Below are the major two key stakeholders who are involved in managing the employment relationship within TESCO.Employees: These are the people who gets affected most by the business or work of the organisation. These are the one who interact with the customers and they maintain the best relationship with them. Employees even maintain their commitment towards the work of the company and gets training so that they can give the best results to the organisation (Schmidt, Foerstl and Schaltenbrand, 2017). The work system is affected by the social life of employees and their education level even. They are the one who are dedicated in maintaining the employment relationship with the employers. This will help the organisation in being better and gaining a proper working environment if they will maintain a good employment relationship. In every organisation maintaining the employment relationship is really important and hence the employees plays the major role in the same. The relationship with employer tells about the 1
system and everything other as well. Employees ensure that they work together and collectively so that more and efficient outcome can be achieved. It is the major work of employee where theyneed to think about the task which they need to perform in the organisation. In context to TESCO, employees does not make part in the decision making of the company and they ensure to listen what their employer says to them so that an employment relationship can be maintained.Employee should take initiatives for working and ensure that all the work has been completed on time. The biggest problem for every employee is to listen about the task said by manager. And majorly when there is a change in working environment of the company. That time the manager has to understand and accept the change along with forming new rules and regulation according to the change in the environment. Here the employees has to ensure that new working environment has been adopted by employees and manager needs to motivate the employees for the same. In addition to this, This will result in more efficient working and employment relationship will be maintained in better way. In addition to this, employees plays a major role by following the work culture and taking responsibilities regarding the same. It will help in ensuring that all the practices has been managed well and relationship with employer willbe smooth by the same. Board members: These are those people who are being elected by the shareholders of the company. These are the members who sets the vision of the company and take all the major decisions regarding the organisation. The board members are highly responsible for all the decisions they take in the company (Saravanan and Vasumathi, 2015). It is their duty to measure the performance by checking the final outcomes as per the financial outcomes. In maintaining the employment relationship the boards members role in very important as they are the one who decides regarding the reward system of the company. In addition to this, If the employees will get reward for their performance in the company than it will make them feel motivated. This willmaintain a better relationship as the employee will be more comfortable and motivated while working. Along with this, board of members also play a major role in determining the best employee award or regarding the working environment. This will have a great impact on the employees of the company. If less rigid working environment will be maintained for the employees than it will be difficult for employee to give their best and it will result in a better employment relationship (Chai, 2016). Other than this, board members have a high degree of 2
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