Social Performance

In this task I will be describing eight different stakeholders which are; customers, employees, suppliers, owners, trade unions, employer associations, local and national communities and the government. I will be stating what they are, who they are, why they useful, how they influence stake holders on organisation and why they are useful to business I have chosen which is Tesco and The British Heart Foundation.

Competition is quickly encroaching on SunTrust’s territory. The financial crisis helped rivals gain more presence in SunTrust’s core markets through key acquisitions. BB&T bank, one of SunTrust’s main competitors, recently increased its presence with its acquisition of Florida-based BankAtlantic. This acquisition increased BB&T’s deposit market share to 6th in the Miami market. (BB&T Corporate Profile)

The first key group of stakeholders are the employees. These include both managers and regular employees at all levels of the organization. The managers are in charge of overseeing certain departments within the corporation. Managers must also work to implement the company strategy and work towards accomplishing the company’s

Wells Fargo is one of the well-recognized banks in the United States with over 8,000 banks. Last year Wells Fargo paid millions of dollars in fines for opening around 1.5 million bank accounts and applied for around 560,000 credit cards without customers’ consent. Due to this unethical and illegal event, numerous stakeholders were affected. In the article, The Wal-Mart Effect and Business, Ethics, and Society by R. Edward Friedman, Friedman states that stakeholder is anyone who can be affected by the business or can affect the business (Friedman 38). A great deal stakeholders were affected by the Wells Fargo crisis including Board of Directors, stockholders, employees, and the customers. Each stakeholder has different interests,

Stakeholders have a significant influence on the aims of an organisation. They are the people who are affected by or interested in the business. In some organisations the shareholders are stakeholders, and at times have some of the decision power. In trade organisations, customers are also considered stakeholders; therefore their needs are part of the organisation’s overall objectives.

Stakeholders are individuals or groups that partake, or assert, possession, privileges, or benefits in a, organization and its accomplishments, previously currently, and in the upcoming (Barrett, 2001). These requested privileges or benefits are the result of communications with, or activities reserved by the organization, and they must be lawful or ethical, separate or combined Stakeholders with comparable benefits, entitlements, or privileges can be categorized as fitting into the similar collection: personnel, investors, and clients (Barrett, 2001). The better the impact these groups have on client’s lives and the extra community assets with which they are assigned, and it becomes vital that they are responsible (Barrett, 2001).

The company also wants their stakeholders to be involved in the business, as well as be happy with the decision making process. Although a company may want their stakeholders to be included, they may have various levels of inclusion that may differ for every stakeholder. “Motivation” in stakeholder engagement means “keeping the stakeholders motivated potentially increases profitability and productivity for your company... Determine how you want them involved and the level of motivation or action needed from each group of stakeholders. Focus on the stakeholders with a great deal of power or interest in the company, but don't forget the less influential stakeholders.” Motivation is key for every stakeholder but can be crucial for those more invested

Week 1 Knowledge Check Concepts The Stakeholder Approach to Social Responsibility. Mastery Score: 15/18 Questions 0% 1 2 100% 3 4 5 67% 6 7 8 Company Mission 100% 9 10 11 Company Goals and Objectives 100% 12 13 Three Levels of Strategy â Corporate, Business-Level, Functional 100% 14 15 Strategic Management Process 100% 17 18 Sarbanes-Oxley Act of 2002 Management Ethics 16 Concept: The Stakeholder Approach to Social Responsibility. Concepts Mastery The Stakeholder Approach to Social Responsibility.

For this task I have been asked to discuss the stakeholder’s aims and objectives of my two businesses. It is important for stakeholders to have an influence as they can offer ideas and anything the company is doing is in their interest.

Every stakeholder have their own process and roles, it can affects or can be affects by organization’s action. All stakeholders have own satisfied and unsatisfied (appendix 2).

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

Part 5 Any stakeholder would look at several things from the financial reporting for Hawaiian Airlines. Of course, one would look at revenue over time, and see if the trend was upward or downward. In Hawaiian Airlines case, comparing 2010 and

Measure performance: the company should be able to tell how well its stakeholder management processes are going which of course depends on what objectives the firm has set for a specific stakeholder engagement process. (“a stakeholder management model for ethical decision making|Simone de Colle- Academia.edu”, 2016)

It is in facts generally believed that corporations rely on critical factors that allow them to face the competitive pressures in the marketplace. The focus of these interviews is therefore dedicated on the stakeholder analysis, on the management of the people that compose working teams, and on the management of information flows within the company.

1. Decide on a set of appropriate actions (minimum of 2 per stakeholder group) that you can take to maximise the chances of the following stakeholder groups actively participating in your project: Divisional Finance staff, HQ Finance staff and the I.T. team. For each action that you suggest ensure that you consider both the potential positive and negative sides of your approach. (6 marks)