payout wages, and the ability to significantly increase products. Stakeholders A stakeholder is defined as an individual or group who has interest in or actively supports a business (Gilstein, 2013). Stakeholders benefit companies in many different ways. They secure resources needed to fund a project or make decisions, provide valuable opinions and suggestions that will improve the quality of projects and by having stakeholders backing a company it is easier to gain the support of the public
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What Are Businesses Objectives? Objectives? Objectives are at the centre of everything a business does There are 3 objectives that are commonly associated with all organisations: Growth Survival Profit Profit © Business Studies Online: Slide 1 Survival Survival Mainly an objective when the business is threatened This can occur in 3 scenarios: The early stages of the business When trading is difficult When there is a threat of takeover This objective is designed to make staff think whether
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Project Implementation Scenario 1 The owners of Rose Plumbing want to institute an electronic time entry system to reduce the number of errors that are recorded in the current system. Ideally, the management will have to consider a process so that the plan is successful. First, there is a need to assess the readiness of the firm in that it should have all the requirements to design, implement and use the system. The second step is to plan the approach in a blueprint to define the phases that
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A company’s success depends on many elements that are responsible for their success. One of the elements that I will be discussing is the person(s) or group(s) that affects an organizations decisions, operations and policies. An organizations stakeholder has an interest in the company, and plays a critical role in daily operations. If I had to choose a company to assume an executive position in; it would be AOL. This company is was on the forefront of social media launching. They changed the way
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Task 2: (LO 1 AC 1.2 ) For one of the organisations you identified in task 1 you will complete a stakeholder analysis chart that identifies each stake holder group's key objectives. You need to identify at least nine stakeholders. Stakeholder Analysis for BT groups. |Stakeholder Group |Stakeholder Group Name |Stakeholder Key Objective |To what extent the organisation has met the | |Number | |
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their stakeholders. Company Q’s lack of concern towards their primary and secondary stakeholder’s interests highlights their disregard, intentional or not, of social responsibility and the resulting negative effects it creates. Company Q demonstrated this social responsibility neglect to their primary shareholders by delaying their customers’ desire for organic, healthier options and by implying mistrust of their employees. Social responsibility advises regular attunement to stakeholders concerns
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Part 1: Critical Thinking Primary Stakeholders Attawapiskat Community: The citizens of Attawapiskat are the chief stakeholders in this predicament as they are direct victims of the issues presented, and are thus also the primary beneficiaries of any potential affirmative action. Subject to inhumane living conditions that could potentially result in fatalities, the residents of Attawapiskat have a moral stake in the well being of their health and lifestyle - no one deserves to conform to such hazardous
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Statement by meeting their objectives. M&S’s Mission Statement summarizes their key aims of what they would like to achieve for their different types stakeholders, most importantly their customers. M&S’s Mission Statement is important that it meets all Stakeholders, internally and externally. The Mission Statement and the influence of Stakeholders on M&S’s is
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Evidence(Page no) | LO1 | Understand the organizational purposes of businesses | 1.1 | Identify the purposes of different types of organization | 1 | | | | 1.2 | Describe the extent to which an organization meets the objectives of different stakeholders | 2 | | | | 1.3 | Explain the responsibilities of an organization and strategies employed to meet them | 3 | | Student declaration | I certify that the work submitted for this assignment is my own. I have clearly referenced any sources
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the communication strategy of the fictional new CEO of XYZ global financial services firm, which has been negatively impacted by a national investment crisis and plans to release to its target audience and stakeholders, utilizing tools such as Mary Munter’s Audience Strategy. The stakeholders have been identified as the firm’s employees, customers, shareholders, and the financial regulators. The shared common concerns of this group are the financial health of XYZ global financial services firm balance
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