Stakeholder Analysis of Wilko: Relationship and Benefits for Engaged Stakeholders

This report analyzes the stakeholder of Wilko and their relationship with external and internal stakeholders. It also discusses the benefits of engaging stakeholders in business.

PROJECT

 Wilko is also known as cash and hardware store.
 The company is retail chain which sells home ware and household
products.
 This report will examined about the stakeholder in business and
relationship between external and internal stakeholder in business.
 Along with engaged benefits in organization with stakeholder.
Introduction

 In Wilko they operates across the countries and make their high range of
stakeholder in which they can come to know about market strategies. The
business can have such types of stakeholder:
 Customer:-
This are being more contribute towards retailing business and
make sure for buying various kind of products and services.
 Suppliers:-
Suppliers provide such a merchandize for sold, display fixtures
and storages for business. This could help more for the business in
providing the high quality of products and services.
Stakeholder of business

 Government:-
Wilko should make the proper rules, regulation, taxes, procedures
while in which the business can run smoothly.
 Employee:-
Wilko business practices need to have the better employment
which could led for having the relationship between two parties, usually
between contract who paid and one party. Employee in business make sure
for having the proper and rights for working with having the huge returns.
Contd…

 Stakeholder theory in which Wilko management is likely to having the
high perspective and opinions in which the succession can take place.
External and internal stakeholder which might be important for the
business in which the organization can take high granted in business.
 Internal stakeholder:
This are individuals or group who directly involved in financially
and operational process. This might be also include employee, manager
and owner. While this stakeholder help the business practice for being
succession.
Relationship and influence of
external and internal stakeholder

 External stakeholder:
There are quiet few at Wilko to keep in mind about the when
decision making is being carried out. Moreover, some of the basis thing
must be essential for which the process can be completed. Some
stakeholder are not limited such as customer, creditors, communities,
society and government etc. The primary services about the customer for
having the products and services with high fill needs. Suppliers and local
community can make sure for having then proper supply and make their
business for having those things which could keep the growth and make
their business for knowing about those things which could be essential.
Government and many other stakeholder which could help the business
practices for working with high rules and regulation in business.
Contd…

 In keeping engagement with the stakeholder the organization can make
sure for having the proper communication among their business.
 But, some of the practices can held for insights having the issues towards
the products and service which can help competitive advantage.
 This could be also important for knowing about those terms and condition
in which they can work and make the proper completion over the tasks
while in the form of communication and work in collaboration.
 The effective decision making can be take place while through which the
business can work and play the role for knowing about those thing in
which the issues and many other problem can be solved.
Benefits for stakeholder engaged in business

From the above report it had been concluded that, stakeholder in
business might be important while for which the roles and this could also
led them for working with the better practices. In having such cases about
not having stakeholder in business, as the organization have to pay huge
loss and sometime failure of business can be led. So having business
succession the organization need to make their stakeholder and try to make
sure for having those things which might be important for taking the
growth and better opportunities.
Conclusion

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 Kujala, J., Lehtimäki, H. and Freeman, E.R., 2019. A stakeholder approach
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 Svensson, G. and et.al., 2018. Framing the triple bottom line approach:
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REFERENCES