Analyzing Stakeholder Impact on Business Practices at Tesco

This professional discussion assesses the understanding of stakeholder impact on business practices, using Tesco as a case study. It explores the roles of internal stakeholders (workers, shareholders) and external stakeholders, highlighting how their engagement informs decisions and contributes to the firm's sustainability. The discussion emphasizes the importance of direct communication with stakeholders, which facilitates new perspectives and builds trust, ultimately aiding Tesco in achieving a competitive advantage. The report concludes that professional discussions are valuable for evaluating not only a person's performance but also their quantitative and decision-making capabilities.

Professional
Discussion

Table of Contents
• Introduction
• MAIN BODY
• Examine the relation and impact on internal and external stakeholder have on
business practices. 1
• Internal and External stakeholders
• Relations between Internal and external stakeholder on business practices
• Benefits of stakeholders in the engagement with the business
• REFERENCES

Introduction
• A professional discussion is an efficient mode of assessment for
the understanding and a knowledge of a learner and the way
they are implanting in their practices. It is effective in case of
duration and as a important method of integration work. Tesco
has been taken as a base firm which is a British multinational
grocery and retailing firm established in 1919 by Jack Cohen
(Brown and Green, 2018). This is the retail industry who is
helping all the consumers to get all their daily requirements.

Relation and impact on internal and external
stakeholder have on business practices.
• Stakeholders are the members of a group that has an interest in the
firm and can not impacted by the firm and are important for the
variety of reasons (Haupt, 2019). There are having internal and
external stakeholder which are very important and helpful for
mostly all the firms. Engagement with the stakeholders assists in
informing about the decisions and giving the assistance required
for long duration of sustainability by making a firm more better.

Relations between Internal and external
stakeholder on business practices
• Internal stakeholders are those individuals who is having a interest
in the firm that is coming from a direct relation and external
stakeholders are the people who are not working in a direct way
with a firm but are impacted by the activities and results of the
firms. In the internal stakeholders, workers of Tesco are invested in
the working of a firm to make sure that they are continuing to be
salaried and retaining to their work. Shareholders are concentrated
on a good working to increase the returns on their investments.

Benefits of stakeholders in the engagement with
the business
• In case of Tesco, communication in a direct manner with
the stakeholders permitting them to learn not only in their
point of view but also can give new visual image on a
commodity or problems to assist in achieving a
competence benefit.
• When a individual is reaching out to the shareholders ,
this collaboration approach assists in making trust and a
goodwill towards that person and their firm.

Conclusion
• It is concluded from the above report is that Professional
discussion gives a great step to assess the knowledge and
to understand in deciding not only what and the way a
person is having a performance but also their quantitative
and decision making capability.

References
• Brown, A.H. and Green, T.D., 2018. Beyond teaching instructional design models:
exploring the design process to advance professional development and
expertise. Journal of Computing in Higher Education, 30(1), pp.176-186.
• Kayi-Aydar, H. and Goering, C.Z., 2019. Socratic circles in professional development
sessions: Negotiating peripheral participation and membership in building a
community of practice. Action in Teacher Education, 41(2), pp.154-171.
• D’Angelo, J.G., 2020. Scientific Ethics as a Professional Skill. In Integrating
Professional Skills into Undergraduate Chemistry Curricula (pp. 301-313). American
Chemical Society.

Thank you