MGT501_ Assessment 2_Internal and External Stakeholder Analysis Page 1 of 6 ASSESSMENT 2 BRIEF Subject Code and Title MGT501 Business Environment Assessment Internal and External Stakeholder Analysis...

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MGT501_ Assessment 2_Internal and External Stakeholder Analysis Page 1 of 6 ASSESSMENT 2 BRIEF Subject Code and Title MGT501 Business Environment Assessment Internal and External Stakeholder Analysis Individual/Group Individual Length 2,500 words Learning Outcomes This assessments addresses the following Subject Learning Outcomes: c) Analyse and synthesise the fundamentals of business in the contemporary environment. d) Construct and Justify a professional value proposition as a business practitioner Submission 12 Week Delivery: By 11:59pm AEST/AEDT Friday of Module 5.2 (week 10) Intensive Class: Due By 11:59pm AEST/AEDT Sunday of Module 5 (week 5) Weighting 50% Total Marks 50 marks Context: Business stakeholder analysis is a technique for identifying stakeholders and analysing their roles. The aim of the analysis is to map out the stakeholders’ level of influence and degree of interest with regards to the business. Stakeholder analysis can also be used to assess the relationships between different stakeholders and the issues they care about most. Internal stakeholders are individuals or groups who are directly involved in the business, such as owners, board members, managers, employees, and investors. External stakeholders are indirectly influenced by the business activities, like customers, suppliers, competitors, society and government. By understanding both perspectives, the business can engage and enhance communication with relevant stakeholders, reduce or prevent risks, identify business opportunities, improve internal stakeholders’ commitment in the business and the reputation of the business amongst external stakeholders. Instructions: In this assessment, you will examine a business in an industry that you have either previously worked in or would like to in the future. Leading up to the assessment submission, you must MGT501_ Assessment 2_Internal and External Stakeholder Analysis Page 2 of 6 participate in the Assessment 2 weekly discussions in the Discussion Forums on Blackboard. You will locate this discussion forum in the Assessment Area of blackboard. Weekly contributions are required in Modules 2-4. Please Remember your contributions to the discussion topics are one of the assessment attributes. (LMS please create an Assessment 2 Discussion Forum separately in the Assessment area of blackboard as students are required to participate in this to complete the assessment) Presenting a business example and contributing to the discussion forum, you will: • identify and analyse functional areas in the business • identify and analyse the internal and external stakeholders • compare two industries with each other • create a stakeholder matrix • discuss chosen stakeholders and industries in the context of relevant theories and frameworks Suggested format Your individual stakeholder analysis should follow standard report structure and include the following: • Cover page • Executive Summary o A concise summary of the main report in bullet points • Introduction and background information on your business example • Main body o Identify functional areas o Identify internal and external stakeholders and their roles o Identify the nature and degree of main stakeholders’ interests, and implications of conflicting interests o Identify the level of main stakeholders’ influence o Create a stakeholder matrix o In the discussion forum, choose an example from your peers and compare the industry your business operates in with their industry, identify the main points of stakeholder dissimilarities and analyse the differences in stakeholder interests and influences • Conclusion • References • Appendices (if necessary) Support your observations and statements by incorporating links to theory and conceptual frameworks. Please ensure your sources are referenced clearly in the APA 6th style both in-text and in the reference list. Referencing: It is essential that you use the appropriate APA style for citing and referencing research. Please see more information on referencing here MGT501_ Assessment 2_Internal and External Stakeholder Analysis Page 3 of 6 http://library.laureate.net.au/research_skills/referencing Tips to get started: PESTLE is a good tool to use to help you identify all stakeholders. By considering political, economic, social, technological, legal and environmental/ethical factors and how they relate to the business, it’s easy to identify stakeholders. Submission Instructions: Submit your Assessment 2 Internal and External Stakeholder Analysis in the submission link in the main navigation menu in MGT501 Business Environment by the end of Module 5.2 (week 10). Intensive Class: Due By 11:59pm AEST/AEDT Sunday of Module 5 (week 5) A rubric will be attached to the assessment. The Learning Facilitator will provide feedback via the Grade Centre in the LMS portal. Feedback can be viewed in My Grades. Marking Rubric: Your reports will be marked against the rubric, which is shown on the next pages. Please ensure that your submission addresses all five of the Assessment Attributes in the rubric. http://library.laureate.net.au/research_skills/referencing MGT501_ Assessment 2_ Internal and External Stakeholder Analysis Page 4 of 6 Learning Rubric: Assessment 2 Internal and External Stakeholder Analysis Assessment Attributes Fail (Unacceptable) 0-49% Pass (Functional) 50-64% Credit (Proficient) 65-74% Distinction (Advanced) 75 -84% High Distinction (Exceptional) 85-100% Knowledge and understanding Understands theory and concepts Percentage for this criterion 30% Limited understanding of required concepts and knowledge. Key components of the assignment are not addressed. Knowledge or understanding of the concepts and theory. Resembles a recall or summary of key ideas. Often confuses assertion of personal opinion with information substantiated by evidence from the research/course materials. Thorough knowledge or understanding of the concepts and theory. Supports personal opinion and information substantiated by evidence from the research/course materials. Demonstrates a capacity to explain and apply relevant concepts. Highly developed understanding of the concepts and theory. Discriminates between assertion of personal opinion and information substantiated by robust evidence from the research/course materials and extended reading. Well demonstrated capacity to explain and apply relevant concepts. A sophisticated understanding of the theory. Systematically and critically discriminates between assertion of personal opinion and information substantiated by robust evidence from the research/course materials and extended reading. Mastery of concepts and application to new situations/further learning. Contribution to the discussion forum Percentage for this criterion 10% Never or rarely posted messages with very little or occasional activity. Simple entries lack insight, depth or are superficial. The entries are short and are frequently irrelevant to the events. Entries show some insight, depth and are connected with events, topic or activity. Entries are typically short and may contain some irrelevant material. Entries show insight and depth. The content of posts is connected with events, topic or activity. Entries show insight, depth and understanding. The content of posts is connected with events, topic or activity, and are MGT501_ Assessment 2_ Internal and External Stakeholder Analysis Page 5 of 6 They do not express opinion clearly and show little understanding. There are some personal comments or opinions which may be on task. These entries may contain some irrelevant material but are for the most part on task. supported by evidence and examples. Entries are relevant with links to supporting material. Analysis and application with synthesis of new knowledge Demonstrates a clear understanding of the practical applications and implications of relevant concepts Percentage for this criterion 30% Limited synthesis and analysis. Limited application based upon analysis. Demonstrated analysis and synthesis of new knowledge with application. Shows the ability to interpret relevant information and literature. Well-developed analysis and synthesis with application of recommendations linked to analysis/synthesis. Thoroughly developed and creative analysis and synthesis with application of pretested models and/or independently developed models and justified recommendations linked to analysis/synthesis. Highly sophisticated and creative analysis, synthesis of new with existing knowledge. Strong application by way of pretested models and/or independently developed models. Recommendations are clearly justified based on the analysis/synthesis. Applying knowledge to new situations/other cases. Effective Communication Well-structured report with a clear line of reasoning Difficult to understand for audience, no logical/clear structure, poor flow of ideas, argument lacks supporting evidence. Audience cannot follow the line of reasoning. Information, arguments and evidence are presented in a way that is not always clear and logical. Line of reasoning is often difficult to follow. Information, arguments and evidence are well presented, mostly clear flow of ideas and arguments. Line of reasoning is easy to follow. Information, arguments and evidence are very well presented; the presentation is logical, clear and well supported by evidence. Demonstrates
Answered Same DayJan 29, 2021MGT501Charles Sturt University

Answer To: MGT501_ Assessment 2_Internal and External Stakeholder Analysis Page 1 of 6 ASSESSMENT 2 BRIEF...

Abhishek answered on Jan 30 2021
137 Votes
Running Head: INTERNAL AND EXTERNAL STAKEHOLDER ANALYSIS    1
INTERNAL AND EXTERNAL STAKEHOLDER ANALYSIS    14
MGT501 BUSINESS ENVIRONMENT
INTERNAL AND EXTERNAL STAKEHOLDER ANALYSIS
FOR WOOLWORTHS, AUSTRALIA
Executive Summary
This current assignment is based on the research of the renowned Woolworths Supermarkets of Australia. The work is based on the framework of the daily requirements of a consumer. The main attraction of this company is garbs and the groceries. The work provides a suitable analysis of the main functional area of this markets and the association of the stakeholder with its products. The main focus of this assignment is
the stakeholder’s interests, influences and their outlining matrix with regard to the company. It also chalks out the various disparities that is existent among the stakeholders and ending with the eventual results and outcomes.
Table of Contents
Executive Summary    2
Introduction    4
Background of Woolworths Supermarkets    4
Identifying the Functional Areas of Woolworths Supermarkets    4
Identifying the Internal and External Stakeholders and their Roles within Woolworths    6
Internal Stakeholders and their Roles    6
External Stakeholders and their Roles    7
Identifying the Accessory Issues within the Woolworths Supermarket    7
Nature and Degree of main Stakeholders’ Interests    7
Implications of Conflicting Interests    8
Identifying the Levels of Main Stakeholders Influence    10
Stakeholder Matrix    11
Discussion Forum    11
Comparing the Industries    11
Main Points of Stakeholder’s Dissimilarities    11
Differences in Stakeholder’s Interests and Influences    12
Conclusion    12
References    13
Introduction
This assignment covers the topic of the industrial operative functions of Woolworths. Woolworths is a chain of supermarkets. In this assignment, the point of Internal and External Stakeholders are being discussed. The stakeholders are the pillars of any industry. It is the stakeholders who keep the industry in form. The aim of the whole project is to throw light on the external and the internal stakeholders and their interest in the retail industry.
Background of Woolworths Supermarkets
The popular Woolworths Supermarkets has first planned to set up its company in the outskirts of South Africa. The founder has decided to extend its markets based on the garbs and the groceries and reaching it the customer's throughout the city. The company has bent to setup a chain of Australian supermarkets, which has accounted for about 90% of its marketing in the recent times.
The markets are specialised in selling food items like vegetables, meat and varieties of packaged foods. Additionally, it extended its marketing structure on the beauty products and household items as well. They are also having the advantage of free home delivery services of certain items (Woolworths Group, 2020). The budget of the items is purchasable for any customers.
Identifying the Functional Areas of Woolworths Supermarkets
    Woolworths is a leading supermarket in the retail industry. It has been operating on the markets for a long period of time. It is a giant retailer functioning in Australia and New Zealand. It has many operating activities since it has been working since a long time period. The functional areas include suppliers' management, distribution centre management, inventory management and after sales service management.
    In any industry, it is very evident to keep a healthy relationship with the suppliers. The suppliers provide the Supermarket with the needed things. Woolworths maintain a very strong relationship with their suppliers. They believe that it is very important to hear the feedback even from their suppliers as well. The suppliers play the most important role in the operation management assignment help of the company or the industry (Freebairn, 2018). The company has to maintain a bridge between the interest of the suppliers and the interest of the customers as well. Woolworths has been operating on the market from a very long time. Therefore, the supply of the goods need to be ample and almost on time. To maintain the goodwill of the Supermarket Woolworths has maintained a strong relationship with their suppliers.
    Woolworths focuses on a centre management distribution. This process has proved to be very smooth and free of mess. The process of the centre management distribution refers to the distribution of the products from a particular centre or a place. Woolworths is a huge supermarket that operates on many places. Therefore, with the centre management distribution, the control is left on one particular place and rest is dependent on the centre (Ordelheide, 2018). The supermarket also follows the inventory management. Woolworths tries to manage their vendors with the proper process of the inventory management. It is through the effective management procedures that Woolworths maintains a strong relationship with their vendors. Through this process, the company achieves in making the best relation with the customers.
    Another important functional area of the Supermarket is after sales service of the company. Woolworths has not only been in reputation for their excellent supply of the goods but also the main reason behind its reputation is the after sales service of the company. Woolworths make sure that the procedure of the management does not only end in the sales but also the management must operate on a period of after sales as well. Woolworths keeps a record of the consumer satisfaction even after the sales are generated.
Identifying the Internal and External Stakeholders and their Roles within Woolworths
Internal Stakeholders and their Roles
Internal stakeholders are the people who hold the stake on behalf of the company. They are the people who hold the integrity of the company. The whole industry relies on the stakeholders since the responsibility is evenly distributed among the stakeholders (Xu & Lee, 2019). Every stakeholder has their individual responsibility to make the company succeed. The most important internal stakeholder is the employees. The employees are the pillars of the company. The employees make sure that the plan, which is most beneficial for the company, is executed on a proper basis. Employees are the core structure of the company. It is the responsible of the employees to make sure that Woolworths is portraying a good image to the customers. The performance level of the employees...
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