Analysis of Stakeholder Influence on Business Practices (BMS412)

This report analyses the influence of internal and external stakeholders on business practices. It highlights how stakeholders affect business decisions. The report includes an analysis of stakeholders and their engagement, particularly focusing on the influence of stakeholders. The report examines how businesses can engage with their stakeholders to improve their practices, incorporating examples from the business and supporting evidence from academic sources. The report focuses on stakeholder analysis and its impact on business practices. The report also assesses the benefits of stakeholder engagement and provides recommendations for effective stakeholder management.

Business Environment (BMS412)

TABLE OF CONTENTS
• INTRODUCTION
• MAIN BODY
• LO3: Impact of internal and external stakeholders on
business practices
• CONCLUSION
• REFERENCE

INTRODUCTION
• Business environment is the external organizational condition in which
company tend to provide its services to the customers.
• Rosewoods is the chosen organization for the analysis in this report.

CONCLUSION
• From the evaluation in the report it can be concluded that
organizations like Rosewoods have to implement several ways.
• Through which it can make sure that it is able to maintain the high
level of engagement of organizational stakeholders.

LO3: Impact of internal and external
stakeholders on business practices
• Stakeholders may be an
individual or an group of
individuals which are having
high interest.
• In organizational activities
because they are able to
affect the organizational
activities or are being affected
by it.

Type of stakeholders
• On the basis of their
engagement stakeholders are
categorised into two different
categories which are as
following.
• Internal stakeholder
• External stakeholders

REFERENCE
• Chebbi, H. and et.al, 2020. Focusing on internal stakeholders to enable
the implementation of organizational change towards corporate
entrepreneurship: A case study from France. Journal of Business
Research. 119. pp.209-217.
• Lim, J.S. and Greenwood, C.A., 2017. Communicating corporate social
responsibility (CSR): Stakeholder responsiveness and engagement
strategy to achieve CSR goals. Public Relations Review. 43(4). pp.768-
776.
• Von Wallpach, S., Hemetsberger, A. and Espersen, P., 2017. Performing
identities: Processes of brand and stakeholder identity co-
construction. Journal of Business Research. 70. pp.443-452.

Thank you