Answer To: attached file
Soumi answered on Aug 18 2021
Running Head: Analysis of Internal & External Stakeholders 1
Analysis of Internal & External Stakeholders 4
Analysis of Internal & External Stakeholders
Executive Summary
Stakeholder analysis is the subject matter of the following content. There are different roles of both internal and external stakeholders in a business. The project sheds light on the topic within the context of the Australian company, Vend. It also identifies their functional areas and how much the company has included its shareholders in it.
Stakeholders’ interest is also discussed here thoroughly following by the possible conflicts of interest. The identification of stakeholders’ influence over the business is also included in the process. In order to produce a comparison for the company Vend, another company named Canva was chosen.
The stakeholders of Canva and their influences on the company business are involved in the assignment to make the contrast. Their interests are also discussed here along with all the dissimilarities of both of the firms. In the end, the project is completed by concluding how the stakeholders have been important in the development of Vend over the years.
Table of Contents
Introduction 4
Background information of Vend Australia 4
Identification of Functional Areas of Vend 5
Internal and External Stakeholders of Vend and their Roles 6
Internal Stakeholders 6
External Stakeholders 7
Nature and Degree of Stakeholders Interest 7
Implications of Conflicting Interests 8
Identifying the Level of Main Stakeholders’ Influence 8
Creation of Stakeholders Matrix 9
Selecting Canva as a Counterpart and Recognising its Interests and Influences 10
Stakeholders’ Dissimilarities between Vend and Canva 10
Differences in Stakeholder Roles as well as Influences between Vend and Canva 11
Conclusion 11
References 13
Introduction
Business stakeholder analysis means analyzing each stakeholder and their functions within the organization to better understand their importance in the improvement. Stakeholders are very significant in terms of their perspectives and opinions in decision making.
Moreover, a shareholder has the ability to take a company towards achieving its goal as much as it can affect a business to go down the hill. In this assignment, the company Vend is the subject of discussion. The stakeholders of Vend play an equally important role in everything as much as the management. In the next part, all the background information of Vend will be provided.
Background information of Vend Australia
Vend Australia was originally founded in Auckland, New Zealand in the year 2010. It is a retail-based corporation which is also a software manufacturing company. The company ideally being cloud-based, a major part of their business happens via mobile phones and similar devices. Apart from that, they also carry their business of retailing products via different stores in Australia. They are also involved with many other sectors in terms of business. The company currently has over 200 employees working for them (Ferreira et al., 2018).
Being a software company, their main products include software for retail management, Point of sales (POS) software, and POS system software, they also provide customer service, software servicing, and inventory management to their consumers. Over the years, they have established a strong position in the market which led to having a number of potential investors and shareholders within and outside the industry. Their growth rate in the market was noticeably good within the first few years of starting it. Moreover, they have concentrated on increasing their revenue by putting efforts into making more shareholders possible. This is how they bagged the partnership with PayPal in such a short time (Hameed et al., 2016). Vend has also updated its inventory managing software and re-launched it by naming it Scanner.
Identification of Functional Areas of Vend
Vend offers a wide range of software applications and extensions for anything related to retail management. There are several important things that need to be dealt with in retail. Simply put, any company that wants to grow or establish their business in online stores such as in websites and apps, will require the applications created by Vend. The retail software takes care of online stores and helps in selling the products.
The POS software and POS system are hardware and software systems to be installed on computers. The inventory management service of Vend helps the sellers or the selling companies by showing how many products it can hold onto and how much space is left to be used (SAXUNOVA, 2017). One can always increase their inventories by consulting with Vend and requesting an upgrade.
The POS system is mainly used for keeping sales records along with generating invoices before and after taxes. Overall, the software is capable of tracking the number of consumers visiting the website or the application, number of purchases made, the ones that were delivered and yet to be delivered (Sarkawi & Abdullah, 2015).
Now, to add to all these services, Vend has also included an e-commerce facility to go with the retailing management software. Vend has tied hands with several online payment companies like PayPal. The payment services help a consumer knowing the full price of any product including tax and the total amounts that are to be paid.
Furthermore, these applications have to provide a secure payment panel so the buyers feel safe while entering their payment details. This e-commerce facility given by Vend, also involves online marketing in various other sites throughout the internet (Yeomans & FitzPatrick, 2017).
Internal and External Stakeholders of Vend and their Roles
Internal Stakeholders
Internal stakeholders of Vend mean the individuals within the company circle such as its employees, management team, directors of the board, and assessors as well as the shareholders actively involved with the corporation. All of them play a significant role in making the company better with time. They have their share of responsibilities to take the company high in the growth chart.
The entire operations selected and run are usually overseen...