Business Research

In this assignment I will be discussing the main topic stakeholder theory, what it means to a company and how it relates to the Ginsters Company. I will also be writing about the main stakeholders in the Ginsters Company and carrying out an analysis on the company’s main stakeholders and how the company approaches the corporate social responsibility.

A strong believer in his reconceptualized Stakeholder Theory of the Modern Corporation, R. Edward Freeman believes the key to success in business is

Lawrence, A. T., & Weber, J. (2011). Business and Society: Stakeholders, Ethics, Public Policy (13th ed.). New York, NY: McGraw-Hill

Stakeholder theorists focus more on public property, economic security of all stakeholders, and follow their manta: “When in Rome do what’s right.”

Considering the normative branch of stakeholder theory, Virgin Australia had treated all stakeholders fairly. As an example with employees and customers, Virgin’s had the different surveys way to understand the needs of employees, such as the annual employee engagement survey, internal team meetings and internal training and development, thereby to meet the welfare of employees (Virgin Australia Annual Financial Report 2014, 133).

A stakeholder is someone who someone who benefits or is burdened by a corporation, or someone who the corporation benefits or is burdened by. (Steiner). Stakeholders are represented by two main groups; primary and secondary

Carroll, Archie B. and Ann K. Buchholtz, 2006, Business and Society: Ethic and Stakeholder Management, 6th Edition, USA: South-Western, Thomson Corporation.

By conducting a stakeholder analysis, “decision-makers will be able to understand who is affected by their decisions and who has the ability to influence the outcomes of those decisions” (Girard, 2013, p. 32). With this in mind, the stakeholder analysis is just a stepping stone to developing a policy that has the potential to be implemented. The strategies of different stakeholders and the amount of power that each stakeholder has directly influences what types of policies become enacted. It is the purposes of this paper to examine a given case study about the development of Big-Mart store in the small town of VanWood Heights. By examining the Big-Mart case, a stakeholder analysis has been developed and the power of each stakeholder

The word ‘stakeholder’ has assumed a designated niche or a prominent place in nonprofit and public management practices and theories in the last 30 years, and especially in the last decade. The term in regard is been classified within a general category of groups or organisations that must at all time been taking into account by managers, leaders and also the front-line staff. They have been lots of research and articles on the subject and all of these have also contributed to the rise and the purpose of using the term in the knowledge and understanding about what it might mean in practice. Ironically, since the term has passed the ‘tipping point’ into common use (Gladwell 2005), has its own notion that in every organisation

Stakeholders are people or groups with interest in an organization that can affect or be affected by the organization itself, its objectives, or its policies (BusinessDictionary, 2015). Each stakeholder brings their own perspective to the table based on their relationship with the organization (e.g. internal or external role), their level of experience, and their area of expertise about the subject matter they are involved with. At a high level, the list of stakeholders for any organization could include people or groups such as: customers, employees, government agencies, suppliers, unions, community resources, shareholders, and business owners. For the purpose of this assignment, I will discuss and review stakeholders relative to the

Unlike shareholders, there are too much unknown information between the relationship of a business and its stakeholders. A business may never know the true motive of a stakeholder, and if pre-cautions are asserted for such risks, the trade-off for this is time, money, and manual labour. The ‘levels’ of stakeholders are also very different, ranging from loyal employees to customers that purchase goods or seek services only once in a while. I believe Goodpaster’s new stakeholder synthesis is the most humane approach for a business. It sets a very standard guideline of management, and instead allows existing laws and legislations to set up duties and rights to the different types of stakeholders within the

Business research involves the systematic and objective process of gathering data and transforming it into useful information. The research process is not confined around a single universal methodology. Infact it differs from one research study to another depending on the purpose of the research, the industry/ sector of the client company concerned, the research method/ tools used etc. As the research process differs, researcher faces different problems and issues pertaining to the research at almost every stage of the research process.

Strategies employed by international companies to gain competitive advantage over their rivals differ from one company to another. One way of doing this is ensuring that they are environmentally conscious in how they partake their activities. In this modern age, they should not only focus on profit making but also consider how their activities affect the stakeholders of the business; hence the stakeholder model.

This reverts us back to the development of a stakeholder theory that gradually gained its speed in the 1970s . It soon found its implementation in Freeman’s management discipline , who promoted the expansion of firms’ accountability towards a broader range of stakeholders.

1.2 Description of the extent to which an organization meets the objectives of different stakeholder…….4