MGT501: KPMG Stakeholder Analysis and Comparison with Accenture

This report provides a comprehensive stakeholder analysis of KPMG, a multinational professional services firm offering audit, tax, and advisory services. It identifies and categorizes both internal stakeholders (Board of Directors, Executive Committee, project teams, and employees) and external stakeholders (customers, competitors, regulatory bodies, and suppliers). The analysis includes a PESTLE analysis to evaluate the political, economic, social, technological, legal, and environmental factors impacting KPMG. A comparison with Accenture highlights the differences in functional areas, business strategies, and stakeholder management. The report explores the key services provided by KPMG, including audit & assurance, tax & legal, and advisory services, along with the functional areas of Accenture. The analysis also includes a stakeholder matrix to assess the influence and interest of various stakeholder groups. The report provides insights into the diverse stakeholders and their impact on KPMG's operations and strategic decisions.

KPMG
Internal & External Stakeholder Analysis
4/13/2020

KPMG
Table of Contents
Introduction...........................................................................................................................................2
Organization Background......................................................................................................................3
Functional Areas....................................................................................................................................3
Internal & External Stakeholders...........................................................................................................4
PESTLE Analysis..............................................................................................................................4
KPMG Stakeholders..........................................................................................................................5
Comparison with Accenture..................................................................................................................7
Stakeholder Matrix................................................................................................................................8
Conclusion...........................................................................................................................................10
References...........................................................................................................................................11
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KPMG
Executive Summary
 KPMG is a multi-national organization that provides services in the areas as audit,
taxation, and advisory.
 The organization was established in 1987 and belongs to the Professional Services
industry.
 The primary services that are provided by KPMG include the tax, audit, and advisory
services.
 The audit services are referred as Audit & Assurance services in the organization.
These services are further classified in different categories, such as financial statement
audit, dynamic risk assessment, audit data & analytics, and many others.
 The business organizations are required to effectively analyse the stakeholders
associated with them so that the relevant business decisions can be accordingly taken.
 The stakeholder analysis for KPMG and its comparison with Accenture reveals the
differences on the basis of the nature of services.
 The internal stakeholders of organization include Board of Directors, Executive
Committee, Project Boards, Project Directors, Manager, and Leaders, and the
employees.
 The external stakeholders include customers, suppliers, regulatory bodies, and
competitors.
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KPMG
Introduction
Stakeholders are defined as the entities/parties that have an interest in the business processes
and organizations. The stakeholder interest can; however, vary in terms of the low to higher
levels. The stakeholders can be classified in different categories apart from their interest in
the services. The types may include internal or external stakeholders, low to high power
stakeholders, and many others.
The business organizations are required to effectively analyse the stakeholders associated
with them so that the relevant business decisions can be accordingly taken.
Organization Background
The organization that has been selected is KPMG which is a multi-national organization that
provides services in the areas as audit, taxation, and advisory. The organization was
established in 1987 and belongs to the Professional Services industry. The organization has
now expanded to 147 countries and there are over 219,000 employees that the company has
deployed all across the globe (Kpmg, 2019). The headquarters of the organization are located
in Amstelveen, Netherlands and the company earned the total revenue of USD 29.75 Billion
in the year 2019. The tax and advisory services that are provided by KPMG are further
classified in different categories.
Functional Areas
The primary services that are provided by KPMG include the tax, audit, and advisory
services. The audit services are referred as Audit & Assurance services in the organization.
These services are further classified in different categories, such as financial statement audit,
dynamic risk assessment, audit data & analytics, and many others.
Tax & Legal is the next set of services that are provided by the organization to its customers.
There are changes that keep on happening in the tax regulations and policies across the globe.
The business firms are required to adhere with the changing norms to make sure that the legal
compliance is maintained. KPMG is the organization that ensures the same by providing a
wide range of tax and legal services (Kpmg, 2019). Some of these include dispute resolution
& controversy services, financial services tax, global indirect tax services, energy & natural
resources tax, and many others.
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KPMG
The third set of services is the advisory services. KPMG provides assistance to the clients
with the establishment of the strategies to allow the clients to grow and adapt. The customers
are the primary entities that set up and define the terms. The technology vision is also
transformed to reality. The advisory services include management consulting, risk consulting,
deal advisory, and strategy.
All of these services along with the private enterprise services are further classified in terms
of the scale of service and the customer requirements that may get involved.
Internal & External Stakeholders
There are a number of stakeholders that are associated with the organization. The
stakeholders associated with KPMG can be classified as the internal and the external
stakeholders.
PESTLE Analysis
Political Factors
KPMG is an international organization and it has its presence in more than 147 countries.
There are political scenarios that keep on changing in these countries and it has an impact on
the business processes and activities that are conducted by the organization. For example, the
political disturbances in the Asian markets will have a considerable impact on the business
and returns of KPMG (Pathak, 2017).
Economic Factors
KPMG is an organization that provides a number of financial services to its customers.
However, its own business flow and processes may get impacted with the changes in the tax
norms and regulations. The other economic fluctuations across the globe can have a minor to
major impact on the services that are provided by the firm (Douglas, 2020).
Social Factors
There are different categories of customers and suppliers associated with KPMG. Also, the
resource pool comprises of the resources from different cultural and professional
backgrounds. The social norms, background, and policies can have an impact on the business
decisions and policies of the organization. It may be necessary that the changes are made as
per the social principles and norms (Wallace & Michopoulou, 2019).
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KPMG
Technology Factors
KPMG makes use of the technology and the technological services to provide the financial
services to the customers. The use of Big Data, for instance, is done by KPMG so that the
technological assistance can be provided. The technologies are; however, not static. There are
changes and developments that keep on happening in the technological field. These changes
have an impact on the business processes that are carried out by KPMG. It can have an
impact on the business decisions as well (Bateman, 2014).
Legal Factors
There are a number of legal policies and protocols that KPMG is required to comply with.
These legal policies include the ones around the financial and tax services and regulations.
These policies are, however, not static and there are changes that keep on occurring. These
changes impact the services that are provided by KPMG and can influence the business
decisions taken by the organization (Coyne, 2016).
Environmental Factors
The environmental factors that are associated with KPMG are also significant and it is
essential that the sustainable practices are followed by the business firms at all times. The
environmental factors play a crucial role in determining the business policies and
responsibilities to be carried out by the organization.
KPMG Stakeholders
There are a number of stakeholders that have been identified for KPMG on the basis of the
information gathered and the PESTLE analysis conducted.
The internal stakeholders include:
 Board of Directors: The Chairperson, Bill Thomas and the members of the board are
the primary internal stakeholders that have the supreme level of authority attached
with them. All the legal and policy decisions and the changes at the organization level
can be done only when the permission from the board is obtained (Boesso & Kumar,
2016). The high-level decisions, such as merger with another organization, opening of
a new office, etc. are taken by the board of directors.
 Executive Committee: The Executive Committee comprises of the members that
approve and govern the large-capital projects that may have high levels of risks
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KPMG
associated with them. The committee is the primary governance body that makes sure
that the overall organizational compliance levels do not alter.
 Project Boards: There are project boards that are associated with specific projects that
carry out the organization level decisions. The handling of the project changes and the
management of the project-level decisions is done by the board (Kpmg, 2013).
 Project Directors, Leaders, and Managers: The different services that are provided by
KPMG, such as financial services, tax services, etc. have certain managers that guide
the resources allotted to these services. Also, the project management and control is
performed by these entities.
 KPMG Employees: The operational members of the staff that are located all across
the globe are the ones that are responsible for the actual execution of the services.
There is a wide range of external stakeholders that are also associated with KPMG.
 Customers: The customers are the primary stakeholders and these include the
individual customers and the business groups. The services that are provided by
KPMG are designed in such a manner that the customer satisfaction and engagement
levels are improved (High, 2020).
 Competitors: KPMG is an international organization and there are several business
firms that give close competition to KPMG. These include Deloitte, McKinsey, PwC,
Ernst & Young, and Grant Thornton to name a few. These are identified as the
stakeholders as these are interested in the activities and services that are provided by
KPMG. Also, the activities performed by KPMG have an impact on these
organizations.
 Regulatory Bodies & Government: KPMG has presence in 147 countries and it is
essential that the company abides by the rules and regulations of every country that it
operates in. The regulatory bodies and governments of these countries have an interest
in the services provided by the organization (Wasieleski & Weber, 2017).
 Third-party Vendors/Suppliers: There is third-party vendors that have significant
interest in the organization as the requirements of KPMG provide them with monetary
and non-monetary benefits.
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KPMG
Comparison with Accenture
The comparison of KPMG is done with Accenture which is also a professional services
company and has its headquarters in Dublin, Ireland. However, the core function and domain
of the organization is technology and digital consulting which is different from the KPMG
functional areas that are primarily concerned with the finances (Accenture, 2020).
The comparison of the two companies is done in terms of their functional areas, business
strategy, and the stakeholder management strategies.
Accenture is a large-scale professional services company that deals in a number of functional
areas. The primary area includes IT and IS. The information technology and system is one
area in which the organization provides its services and it deals in some of the latest
technologies and tools. Cloud Computing, Big Data, Business Intelligence, Artificial
Intelligence, Machine Learning, etc. are some of the technologies in which the company
provides the consulting services. Accenture also deals in the functional area as digital
consulting and quality control. Quality is one of the essential properties that are associated
with every business. Accenture provides its services to the clients to ensure that the quality
levels can be maintained and improved at all times. Marketing and communications is also
one of the core functional areas of Accenture as there are marketing services and
communication methods & assistance that is provided by Accenture to its customers. These
functional areas and services are in contrast with the ones that are associated with KPMG.
The essential services that are given by KPMG incorporate the tax, audit, and advisory
services (Accenture, 2020). The audit services are eluded as Audit and Assurance services in
the association. These services are additionally ordered in various classifications, for
example, financial statement audit, dynamic risk appraisal, audit information and analytics,
and numerous others. Tax and Legal is the following arrangement of services that are given
by the association to its clients. There are changes that continue occurring in the tax
regulations and policies over the globe. The business firms are required to follow with the
changing standards to ensure that the legal compliance is kept up. KPMG is the association
that guarantees the equivalent by giving a wide scope of tax and legal services. A portion of
these incorporate dispute resolution and controversy services, financial services tax, global
indirect tax services, energy and natural resources tax, and numerous others. The third
arrangement of services is the advisory services (Ord, 2020). KPMG furnishes help to the
customers with the foundation of the techniques to permit the customers to develop and
adjust. The clients are the essential elements that set up and characterize the terms. The
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KPMG
innovation vision is likewise changed to reality. The advisory services incorporate
management consulting, risk consulting, deal advisory, and strategy.
The difference can also be determined in terms of the external stakeholders that are
associated with both the organizations. The customer groups are the stakeholders that are
common; however, the type and nature of these customers vary. This is because of the
difference in the services that are mainly provided by KPMG and Accenture. Similarly, the
regulatory bodies are the external stakeholders associated with Accenture as well. However,
these are the ones that mainly look in to IT & Digital Technology Management whereas the
ones that monitor the KPMG services are the financial control boards. The difference is
primarily because of the difference in the industry type.
Stakeholder Matrix
The stakeholder matrix is developed for the stakeholders associated with KPMG.
It is essential that the understanding of the stakeholder interest, influence, and contribution
levels is done before the power-interest matrix for the KPMG stakeholders is developed.
Stakeholder Type Interest Influence Contribution
Board of
Directors
Internal High High Moderate
Executive
Committee
Internal High High Moderate
Project Boards Internal High Moderate Moderate
Project
Directors,
Leaders, and
Managers
Internal High Moderate High
KPMG
Employees
Internal Moderate Moderate High
Customers External Moderate High Moderate
Competitors External High High Low
Regulatory
Bodies &
Government
External Moderate High Low
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KPMG
Third-party
Vendors/
Suppliers
External High Low High
The Chairperson and the members of the board are the essential internal stakeholders that
have the preeminent level of power appended with them. All the legal and arrangement
choices and the progressions at the organization level should be possible just when the
consent from the board is acquired. The elevated level choices, for example, merger with
another organization, opening of another office, and so on are taken by the board of directors.
The Executive Committee contains the members that endorse and oversee the huge capital
projects that may have elevated levels of risks related with them. The committee is the
essential governance body that ensures that the general organizational compliance levels don't
change. There are project boards that are related with explicit projects that complete the
organization level choices (Yudi et al., 2018). The treatment of the project changes and the
management of the project-level choices are finished by the board. The various services that
are given by KPMG, for example, financial services, tax services, and so on have certain
managers that control the resources distributed to these services. Likewise, the project
management and control is performed by these elements. The operational members of the
staff that are found the whole way across the globe are the ones that are liable for the genuine
execution of the services. The customers are the essential stakeholders and these incorporate
the individual customers and the business gatherings. The services that are given by KPMG
are planned in such a way, that the consumer loyalty and commitment levels are improved
(Uniindia, 2020). KPMG is a universal organization and there are a few business firms that
give close rivalry to KPMG. These incorporate Deloitte, McKinsey, PwC, Ernst and Young,
and Grant Thornton to give some examples. These are recognized as the stakeholders as these
are keen on the exercises and services that are given by KPMG. Additionally, the exercises
performed by KPMG affect these organizations. KPMG has nearness in 147 nations and it is
fundamental that the organization submits to the principles and regulations of each nation that
it works in. The regulatory bodies and administrations of these nations have an enthusiasm
for the services gave by the organization. There are third-party vendors that have noteworthy
enthusiasm for the organization as the necessities of KPMG furnish them with money related
and non-fiscal advantages (Carroll et al., 2018). On the basis of the stakeholder information
and the determined levels of interest, influence, and contribution, the stakeholder matrix is
developed as shown below.
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KPMG
(High)
Power
(Low)
Keep Satisfied
Customers
Regulatory Bodies & Government
Manage Closely
Board of Directors
Executive Committee
Competitors
Monitor
KPMG Employees
Keep Informed
Project Boards
Project Directors, Leaders, and
Managers
Third-party vendors/suppliers
(Low) Interest (High)
Conclusion
The stakeholders associated with KPMG are determined using the PESTLE analysis as the
tool. The identification of the internal and external stakeholders has been done and the
comparison between Accenture and KPMG is carried out. The comparison shows the
different in the services that is provided by the two companies and the variations in the
stakeholders as well. It is essential for the business firms to make sure that the effective
management of the stakeholders can be done at all times.
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KPMG
References
Accenture. (2020a). Accenture | India | New Applied Now. Www.Accenture.Com.
https://www.accenture.com/in-en?c=acn_in_brandgoogle_10906811&n=psgs_0319
Accenture. (2020b). Accenture Services Private Limited. Www.Accenture.Com.
https://www.accenture.com/in-en/accenture-services-private-limited
Bateman, C. (2014). Netcare – KPMG breached client privilege to boost Competitions
Commissions probe. South African Medical Journal, 104(6), 395.
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stakeholder salience and stakeholder engagement activities. Management Decision,
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Carroll, A. B., Brown, J. A., & Buchholtz, A. K. (2018). Business & society : ethics,
sustainability, and stakeholder management. Cengage Learning.
Coyne, C. (2016). Benefits of a Stakeholder Analysis. The Membership Management Report,
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Douglas, A. (2020, April 1). KPMG outlines considerations for business in “challenging
financial climate.” Commercial Drone Professional.
https://www.commercialdroneprofessional.com/kpmg-outlines-considerations-for-
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High, M. (2020). KPMG: digital transformation and data to boost UAE banking.
Www.Fintechmagazine.Com. https://www.fintechmagazine.com/fintech/kpmg-
digital-transformation-and-data-boost-uae-banking
Kpmg. (2013). Error. Www.Fundacionseres.Org.
https://www.fundacionseres.org/lists/informes/attachments/1098/140131%20kpmg-
pml-stakeholder-management-communication.pdf
Kpmg. (2019, April 11). Home | KPMG Global. KPMG. https://home.kpmg/xx/en/home.html
Ord, M. (2020). KPMG partner urges for contingency planning. Insider Media Ltd.
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planning
Pathak, S. (2017). Mortar and Pestle. Archives of Medicine, 09(03).
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Provider/East/News/1928464.Html. http://www.uniindia.com/kpmg-in-india-
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provider/east/news/1928464.html
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STAKEHOLDER ANALYSIS MODEL FOR EVENTS AND FESTIVALS. Event
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Yudi, K., Rarasati, A. D., & Adiwijaya, A. J. S. (2018). Stakeholder Management of Jakarta’s
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