BUS301 Report: Stakeholder Analysis of Samsung Corporation

This report provides a detailed analysis of Samsung's stakeholders, categorizing them into internal stakeholders (employees, investors, and directors) and external stakeholders (customers, suppliers, society, and government). It examines the impact of each stakeholder group on Samsung's business practices, highlighting how employee performance, investor funding, customer satisfaction, and supplier relationships influence the company's operations. The report further explores stakeholder engagement strategies, emphasizing communication channels and relationship-driven approaches. It also discusses the impact of Corporate Social Responsibility (CSR) initiatives and business ethics on Samsung's operations, focusing on compliance with laws and ethical standards. The conclusion summarizes the importance of stakeholder management, ethical business practices, and CSR in fostering a competitive advantage and enhancing brand awareness for Samsung.

Professional Discussion
and individual supporting
notes

Table of content
Introduction
Main body
Internal stakeholder of Samsung
External stakeholder of Samsung
Stakeholder engagement and relationship
Impact of CSR
Business ethics
Conclusion
References

Introduction
Stakeholders are basically the parties that have direct or indirect
interest in functions and operation of an business organisation and
also lead to significant effect on the decision making process of a
company. Samsung is a well known multinational conglomerate
company headquartered in Seoul, south Korea. Samsung is the
largest south Korean organisation that is having numerous affiliated
businesses like consumer electronics, IT and mobile
communications, and other system LSI business.

Main body
Stakeholders are the parties that are associated with the functions and business
operation in a direct or indirect way and also have significant amount of influence
over business decisions and performance. Samsung is a large scale organisation
operates at international level having large number of international sales base thus, it
is having a large number of stakeholders.

Internal stakeholder of Samsung
The internal stakeholders are the individuals and organisation that have a direct relation and maximum
influence over business operations and functions. The list of internal stakeholders of Samsung includes
following parties:
 Employees- Samsung is operating in more than 61 countries of world with around 160000 employees
thus, are the most important stakeholders and assets of organisation.
 Investors and Shareholders- These are the persons and parties that provide financial assistance and
support to an organisation in order to perform various activities and functions in a smooth way.

Continue….
 Directors- these are the person who acts
as the main representatives of various
shareholders and works directly for the
betterment of organisation. The Board of
directors of Samsung plays a significant
role in effective decision making in order
to have better success and growth of
organisation.

Continue….
Impact of internal stakeholders on business practices
 Employees- theses are the individuals who performs various task and
operations in Samsung thus, create a direct impact on business practises and
quality of product and services rendered by Samsung.
 Investors- availability of funds are directly dependent on the size and number
of investors, thus, lead to an influence over business practises of Samsung
through affecting the availability of funds for various activities and tasks.

External stakeholder of Samsung
These are the individuals who works outside the organisation but have significant level of effect on
businesses operation and functions of organisation. The various parties included in the external
stakeholders of Samsung are as follows:
 Customers- these are the most vital stakeholders of any organisation on which the overall
success and performance of a company depends. Samsung is operating in more than 61 countries
of world thus, having a large number of customers base.
 Suppliers- these are the organisations and individuals from which stock and other raw
materials are procured by the Samsung.

Continue….
Impact of external stakeholders on business practices
 Customers- the main objective of Samsung is providing maximum level of
satisfaction to its customers, thus they are having a significant level of impact on
its business practises.
 Suppliers- the quality of services and product offered by Samsung is dependent
on its suppliers to a garret extent as the raw material and other inventory is
procured or collected from them thus, lead to a significant impact on its business
practises.

Continue….
 Society- an organization needs to take decisions in a such way that it does not
have any negative implications on society.
 Government- it is essential for Samsung to comply with all the provisions and
acts made by governments to remove the chances of future consequence thus,
lead to an affect in business practises.

Stakeholder engagement and relationship
 Stakeholders engagement is a process through which companies communicate
and get better information about their stakeholders to have understanding about
their needs and wants. Samsung makes use of an array of communication
channels to effectively engage its stakeholders through a productive and
relationship driven communication. Use of various digital platforms and online
channels are made by Samsung to have better stakeholders engagement and
relationship.

Impact of CSR
CSR is mainly associated with the business initiatives that benefit society. Thus,
CSR lead to many positive benefits for an organisation like enhance the ability
of company to attract top talent and also lead to better job satisfaction level and
retention rates. The CSR practices of Samsung are based on following principles:
 Compliance with laws and ethical standards