Industry analysis on food retail industry
Internal and external stakeholders
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Business Environment Assignment 1 template-1 07.12
Internal and external stakeholders.
Who arethe main stakeholders of the company? And why the company need them ? why they need costumers, investors, emploees Internal stakeholders of General Mills inc. That includes imployees, managers, bord of directors and share holders Additionally, the phrase "internal stakeholders" may refer to "primary stakeholders." These partners, who provide services to the organization, are greatly impacted by the outcomes, decisions, and actions of the organization. Additionally, they are trained on all internal corporate challenges. Internal stakeholders are always crucial because they are essential to the success of the organization. The satisfaction of internal stakeholders is frequently considered when determining the effectiveness of a business, arrangement, or workplace. Consequently, for each company to succeed, they must understand what and why they are doing. External stakeholders of the company. Customers,compateter investors , shareholders, suppliers and government agencies make up a company’s external stakeholders. To distinguish themselves from inner partners, their primary task is to invest or withdraw from the market. They hardly ever fail to influence the direction of the firm. They have no stake in any of the company's internal processes or decision-making. Any business has a strong reliance on outside partners to run its operations. Customers and governmental regulations are examples of outside partners that support a safe, reasonable market by monitoring company activity, acquiring goods or services, and establishing fundamental needs. P.2. Explanation of the size and scope of the organisation of the company. Currently 35000 people employed by the company worldwide, as can be seen from these numbers the size of the company is large and In this year , according to statistics of …….(2022),” General Mills annual revenue for 2022 was $18.993B, a 4.78% increase from 2021.” That means the company can be one of the largest food retailers in this industry https://www.macrotrends.net/stocks/charts/GIS/general-mills/revenue The company operates more than 100 countries. WE can consider, this company is international. P.2. Analysis how the legal structure, size and scope of different organisations link to the business objectives and product and services offered by the organisation. For example we want to improve quality of our productes we absolutely need structure , the reason is structure will give us everyone’s roles and responsibilities and people know who is their manager and in this way we can easily improve quality by reporting our manager. And manager can lead us to the right side and our company’s stakeholders start to realize their own mission and value on the way. Knowing the size of the organisation one of the key factors during improving the quality, While doing the activity we need to perform trainings and inorder to do this we need to know how many people we have, we need to know what kind of organisational size we have, and we need to plan how long does it take to train all the staff and organise it and we need to eliminate all quality issues during the planned period. P.3. Explanation of the relationship between different organisational functions https://www.dineshbakshi.com/igcse-business-studies/people-in-business/revision-notes/389-functions-of-different-departments First explain each of them and their role then how marketing is connected others, The marketing department should sell products to different regions, study the demand and supply in the market, attract customers and increase loyalty, organize advertising activities and distribute products equally to the market and should do various analysis to increase sales Such as SWOT and environmental analyses The HR department is responsible for hiring employees, firing incompetent employees, properly distributing the workforce, training employees, and rewarding or penalizing them based on their behavior. The finance department must work on how to properly finance the business by calculating capital expenditures and sales, maintaining a profit and loss balance sheet, paying employees' salaries and taxes on time.
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