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MGT501 Internal and External Stakeholder Analysis: Harvey Norman Assessment 2 Answer

ASSESSMENT 2 BRIEF
Subject Code and TitleMGT501 Business Environment
AssessmentInternal and External Stakeholder Analysis
Individual/GroupIndividual
Length2,500 words
Learning OutcomesThis assessments addresses the following Subject Learning Outcomes:
  1. Analyse and synthesise the fundamentals of business in the contemporary environment.
  2. Construct and Justify a professional value proposition as a business practitioner

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 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

A concise summary of the main report in bullet points

  • Introduction and background information on your business example
  • Main body
    • Identify functional areas
    • Identify internal and external stakeholders and their roles
    • Identify the nature and degree of main stakeholders’ interests, and implications of conflicting interests
    • Identify the level of main stakeholders’ influence
    • Create a stakeholder matrix
    • 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

Answer

Harvey Norman

Executive Summary

Through this report, the focus would be on Harvey Norman and in-depth analysis of the stakeholders. As a background, Harvey Norman is a leading Australian based company that focuses on the furniture, bedding along with other products such as computers, communications along other electronic goods. So far the company has more than 166 franchised places within Australia. The company is considered to be a leading function, which is due to its large stakeholders that work closely internally and externally. The company is also considered to be successful all over the brand and has a retail savvy attitude. So far, the company has expanded due to its market trends along with the expanding business tools that would be essential for the organization to achieve a vital growth rate and circumstances. It is because of the stakeholders, the company has been able to reap its bets since its past years. 

Introduction

 Harvey Norman is known to be the leading and the biggest retail brand that has covered in entire Australia. So far the company has also expanded with the largest number of retail stores that have covered with more than 250 across Australia and aims globally (Abel, 2019). The company was established by the founders Ian Norman and Gerry Harvey during 1961, which focuses on an electrical good along with the appliances. The company is also known to have created a record with the multiple foci over the four major business lies such as the bedding, furniture along with the electrical appliances, and computers. 

Background

The company has known to be a major one-stop destination and so far, it has also aimed to provide essence to the business by developing unique various solutions that would be applied for every homeroom, the other would be the latest technological innovation aimed at for the home office and the house. The company is known to be operating primarily over the largest franchising that could help to identify how the company-operated retail stores can be owned and operated by the ASX-listed; which is a Sydney-based mother company. The company is known to be a consistently recognized brand that covers large multinational regions earning a multi-billion dollar sales revenues. The company has expanded and operated globally such as in Malaysia, New Zealand along Slovenia, Ireland, Croatia and even includes Northern Ireland. It has been considered to be the highest operating and owned by the ASX-listed. SO far, the company also holds 36 retail stores in New Zealand as per the 2015  (Abel, 2019). 

Stakeholder communication methods


Harvey Norman has also expanded with an Omni-channel communication method that has helped to capture the large related to the relevant stakeholders (Abel, 2019). It also engages and implies, how there has been a source of the established chain of the multi-channel approach that as aimed to include the stakeholders and focuses on the integrated customer-care experience. So far, this has been a learning experience that has precisely been aimed to known and work over the parallel working communication channel. In another instance, how the company would e an edge to create supporting resources that would aim at providing a designed to cooperate. Another way to focus on is on the modern communication approach that the company has invented and has focused on how to discover to match with the ability and create a forum. It is also how their company enables and also helps to establish a wide source of online communication that could be done through the email, Whatsapp, Facebook, along with Twitter. The company has also aimed at providing a variety of creations that could center over the customer's ability to create an online shopping that could be generated from the mobile device or a desktop and would not be an issue.  Another way through which the company integrates the communication strategy is through the customer journey that could help to aid and oblige in integrating the information from the interested stakeholder’s online services and engaging social media, through which it could provide a click and collect option while online.

Analysis 

Functional areas

The company has expanded its operation in the furniture, bedding along with the other products such as computers, communications along with other electronic goods. The company is also considered to be a success all over the brand and has a retail savvy attitude. So far, the company has expanded due to its market trends along with the expanding business tools that would be essential for the organization to achieve a vital growth rate and circumstances. It is because of the stakeholders, the company has been able to reap its bets since its past years

Internal and external stakeholders and their roles

The major stakeholders of the company have remained as follows and it has been an obligation to focus on the key stakeholders having a social responsibility. 

  • Customers – The company aims for the ability to cater and also be able to create an expansion strategy. It has opened the channel of communication, upon which it can stay in connect and also be able to value aid, provide a valuable quality and also be able t create an environment-friendly sustainable presence.
  •  Employees – The company has a large employee presence and it has so far also aimed at providing a global edge to create a company that would aim to focus over a large employee strength that could provide a better edge. The company has aimed to provide a versatile environment and also helped to expand and created a nurturing environment. It has not only provided a skilled improved, good communication and also aimed for better learning opportunities for the company environments (Akbar, 2019).
  •  Suppliers – It has been a valuable support system for the company.
  •  Communities– So far the company has major shareholders, investors and the wide communities aimed at the betterment of the company.

Nature and degree of main stakeholders’ interests, and implications

The company has ensured to integrate a relevant strategy to integrate every stakeholder within the company and has ensured to provide an edge for the creation of it. It is also how one can provide important company preens and also aimed to provide a better growth strategy. Such as how to have communicate with the stakeholders has been an effective strategy, such as discussing with the customer,s it has numerous customer agents, that could provide a quick discussion around it and also has a healthy feedback forum (Akbar, 2019). Similarly, for the employees, it has adopted an open transparent communication method, through which it can connect with them and also aimed to provide a better platform to plan and communicate with the necessary stakeholders. It has also provided an edge to create a platform for the investors, shareholders, for the PR people to create a better platform for the communication with the company key executives and the management. It has ensured, that the degree of the stakeholders and their presence, remain integral to the company framework. At a certain degree of impact, the company ensures to adopt a new policy, procedures but does not create any hitch while coordinating with the stakeholders(Francis, 2018). 

Conflicting interests

  1. Response team – If the company is unable to create an open platform and is unable to provide a better platform such as considering their suggestions along with holding possible responses that could keep coordination and engagement with the entire organization’s team. It would help in providing a better opportunity for timely responses and would be done through easy coordination (Dumay, 2019).
  2. Engaging discussion – The company works over the conflict areas and ensures it can fill the communication gaps and this would be a holding period of the engagement for the relevant stakeholders. This is also known to create a versatile environment with the aim of a better social media presence and also creating a magnitude of the issues with the main aim of stakeholders.
  3. Integrating the possible solutions – More the stakeholders, more would be the presence of integrating possible solutions to the issues and every time finding alternatives and fitting the solutions, could provide a conflict. It is important to be open to creation and transparency. 
  4. Obliging – The company needs to aim at providing a maximized presence and also be a  better platform for the stakeholders.
  5. Avoiding & Compromising – In any sort of conflict, avoidance can be better, but the company aims to provide quality results, so it still tries to aim by compromise and subdue the conflict.


Level of main stakeholders’ influence


Each of the stakeholders has an active presence in the company insights.

  • Customers – The are the prime target, upon which the company is running and is aiming for the betterment of the future (Greenwood, 2018).
  •  Employees – The company has aimed and integrated the top-notch high performing employes and also aimed at providing a better resolution that could help to identify and match the company's aims and goals.
  •  Suppliers & Investors – The company has aimed to provide a better resolution and also aimed at the better suppliers' force and aimed at providing an edge to the investors. They are an important force of the people and important to consider in the company workings.
  •  Communities– As the company exists in the same society, it cannot subdue the community responsibilities. It has the aim to provide better resolutions and better transparency.


The company's main stakeholders' concerns are customers. The main presence to be part of any domain, as to be an edge to create a versatile environment and also be able to provide a transparent end-product consumer. The customers also have to aim to provide a better resolution and also be transparent in providing an open platform for the communication channel (Heikkurinen, 2018). The company has to aim for better ways to communicate and also provide a platform for a genuine communication problem. The communication can be conflicting, as it can be provided with the platform through the wrong information and at the same time, it could be able to provide a better advantage over. This could be noticed, how the stakeholders can provide an edge over the specified cases, which can create a lot of concern. This would be an edge to provide a better platform in terms of the relative increase in customer complains that could integrate a better platform to record the incidences of communication problems. It would be an idea to the implication that can provide an issue over the other.

Stakeholder interests can be aimed for better resolution and can integrate the external, communication methods which would include methods such as the newspaper, television or also be aimed to provide Twitter chats,  or Facebook chats. Another way to look over it is how there can be a better media platforms,  that could be able to provide and have a better-aimed message that could be passed in a clear and simple language. This would be more aimed at the corrections and how it can really in the media platforms that could significantly be providing a better good number of the stakeholder that could receive the communication officially. Another ay to look over it how is their platforms and include the source of actively considering the feedback of the customer's issue, along with providing a better platform of responses to the experienced person aimed at integrating a response plan. It is also how there can be a better response to the communication issue that could integrate the company’s official platforms, and it would include the stakeholders which can help to address the issue addressed for any interest. To look over it, the example is of building the communication and having the better-assured results that can provide better re-assured results aimed at the stakeholders (Kujala, 2017).

Stakeholder matrix

Stakeholder Group
 SalariesProfits TaxesJobsBusiness processValues Complaints
Employeesyes


yesyesyes
 Suppliers Yes    Yes  
 Owners Yes   Yes Yes   Yes
 Share holders Yes Yes Yes   Yes  Yes 
 Mangers  Yes   Yes Yes   Yes
 Communities  Yes  Yes  Yes  Yes 

Competitor Analysis

Harvey Norman faces stiff completion form its peers and so far has also developed strong good response mechanisms that could be an edge to the competition (Mehta 2018). There has been so far a total of 326 businesses in the same structure of Harvey Norman and it includes the wide companies such as the Woolworth Group Limited, along with the Myer Holding Limited and also the renowned Flemings, Safety, and Action. The other is the directly competing products that include a wide edge in the consumer goods that covers the video games, CDs, DVDs, along with Ultra HD Blu-rays. The company has a direct competitor by the name of JB Hi-Fi, as founded in 1974 and has been expanded in the 303 locations globally. It includes the hardware/electronics, DVDs along with the CDs, Blu rays, cameras, computers along with holding the sound systems, iPods and large home appliances. The company has been operating since 2016 with the $4 billion having 13 stores.

 The company competes with a wide range of competition and also includes an external, competition that imitates the company. Still, the company has shown an exhilarating performance of $348.61 million, due to the wide franchise sales (Psaros, 2015).

 Conclusion

In the end, for any company, there has to be an edge over the focused source of creating an online chatting platform that makes the company exclusively focuses on how it has been focused over its stakeholders and how promptly it has been able to aid over the experienced company’s personnel (Abel, 2019). Another way to look, at the company, keeps its stakeholders engrossed and also helps to ensure how to create a platform aimed for the person that could focus on a specific area of interest of that stakeholder.

Harvey Norman

 Executive Summary

Through this report, the focus would be on Harvey Norman and in-depth analysis of the stakeholders. As a background, Harvey Norman is a leading Australian based company that focuses on the furniture, bedding along with other products such as computers, communications along other electronic goods. So far the company has more than 166 franchised places within Australia. The company is considered to be a leading function, which is due to its large stakeholders that work closely internally and externally. The company is also considered to be successful all over the brand and has a retail savvy attitude. So far, the company has expanded due to its market trends along with the expanding business tools that would be essential for the organization to achieve a vital growth rate and circumstances. It is because of the stakeholders, the company has been able to reap its bets since its past years. 

Introduction

 Harvey Norman is known to be the leading and the biggest retail brand that has covered in entire Australia. So far the company has also expanded with the largest number of retail stores that have covered with more than 250 across Australia and aims globally (Abel, 2019). The company was established by the founders Ian Norman and Gerry Harvey during 1961, which focuses on an electrical good along with the appliances. The company is also known to have created a record with the multiple foci over the four major business lies such as the bedding, furniture along with the electrical appliances, and computers. 

Background

The company has known to be a major one-stop destination and so far, it has also aimed to provide essence to the business by developing unique various solutions that would be applied for every homeroom, the other would be the latest technological innovation aimed at for the home office and the house. The company is known to be operating primarily over the largest franchising that could help to identify how the company-operated retail stores can be owned and operated by the ASX-listed; which is a Sydney-based mother company. The company is known to be a consistently recognized brand that covers large multinational regions earning a multi-billion dollar sales revenues. The company has expanded and operated globally such as in Malaysia, New Zealand along Slovenia, Ireland, Croatia and even includes Northern Ireland. It has been considered to be the highest operating and owned by the ASX-listed. SO far, the company also holds 36 retail stores in New Zealand as per the 2015  (Abel, 2019). 

Stakeholder communication methods

Harvey Norman has also expanded with an Omni-channel communication method that has helped to capture the large related to the relevant stakeholders (Abel, 2019). It also engages and implies, how there has been a source of the established chain of the multi-channel approach that as aimed to include the stakeholders and focuses on the integrated customer-care experience. So far, this has been a learning experience that has precisely been aimed to known and work over the parallel working communication channel. In another instance, how the company would e an edge to create supporting resources that would aim at providing a designed to cooperate. Another way to focus on is on the modern communication approach that the company has invented and has focused on how to discover to match with the ability and create a forum. It is also how their company enables and also helps to establish a wide source of online communication that could be done through the email, Whatsapp, Facebook, along with Twitter. The company has also aimed at providing a variety of creations that could center over the customer's ability to create an online shopping that could be generated from the mobile device or a desktop and would not be an issue.  Another way through which the company integrates the communication strategy is through the customer journey that could help to aid and oblige in integrating the information from the interested stakeholder’s online services and engaging social media, through which it could provide a click and collect option while online.

Analysis 

Functional areas

The company has expanded its operation in the furniture, bedding along with the other products such as computers, communications along with other electronic goods. The company is also considered to be a success all over the brand and has a retail savvy attitude. So far, the company has expanded due to its market trends along with the expanding business tools that would be essential for the organization to achieve a vital growth rate and circumstances. It is because of the stakeholders, the company has been able to reap its bets since its past years

Internal and external stakeholders and their roles

The major stakeholders of the company have remained as follows and it has been an obligation to focus on the key stakeholders having a social responsibility. 

  • Customers – The company aims for the ability to cater and also be able to create an expansion strategy. It has opened the channel of communication, upon which it can stay in connect and also be able to value aid, provide a valuable quality and also be able t create an environment-friendly sustainable presence.
  •  Employees – The company has a large employee presence and it has so far also aimed at providing a global edge to create a company that would aim to focus over a large employee strength that could provide a better edge. The company has aimed to provide a versatile environment and also helped to expand and created a nurturing environment. It has not only provided a skilled improved, good communication and also aimed for better learning opportunities for the company environments (Akbar, 2019).
  •  Suppliers – It has been a valuable support system for the company.
  •  Communities– So far the company has major shareholders, investors and the wide communities aimed at the betterment of the company.

Nature and degree of main stakeholders’ interests, and implications

The company has ensured to integrate a relevant strategy to integrate every stakeholder within the company and has ensured to provide an edge for the creation of it. It is also how one can provide important company preens and also aimed to provide a better growth strategy. Such as how to have communicate with the stakeholders has been an effective strategy, such as discussing with the customer,s it has numerous customer agents, that could provide a quick discussion around it and also has a healthy feedback forum (Akbar, 2019). Similarly, for the employees, it has adopted an open transparent communication method, through which it can connect with them and also aimed to provide a better platform to plan and communicate with the necessary stakeholders. It has also provided an edge to create a platform for the investors, shareholders, for the PR people to create a better platform for the communication with the company key executives and the management. It has ensured, that the degree of the stakeholders and their presence, remain integral to the company framework. At a certain degree of impact, the company ensures to adopt a new policy, procedures but does not create any hitch while coordinating with the stakeholders(Francis, 2018). 

Conflicting interests

  1. Response team – If the company is unable to create an open platform and is unable to provide a better platform such as considering their suggestions along with holding possible responses that could keep coordination and engagement with the entire organization’s team. It would help in providing a better opportunity for timely responses and would be done through easy coordination (Dumay, 2019).
  2. Engaging discussion – The company works over the conflict areas and ensures it can fill the communication gaps and this would be a holding period of the engagement for the relevant stakeholders. This is also known to create a versatile environment with the aim of a better social media presence and also creating a magnitude of the issues with the main aim of stakeholders.
  3. Integrating the possible solutions – More the stakeholders, more would be the presence of integrating possible solutions to the issues and every time finding alternatives and fitting the solutions, could provide a conflict. It is important to be open to creation and transparency. 
  4. Obliging – The company needs to aim at providing a maximized presence and also be a  better platform for the stakeholders.
  5. Avoiding & Compromising – In any sort of conflict, avoidance can be better, but the company aims to provide quality results, so it still tries to aim by compromise and subdue the conflict.

Level of main stakeholders’ influence

Each of the stakeholders has an active presence in the company insights.

  • Customers – The are the prime target, upon which the company is running and is aiming for the betterment of the future (Greenwood, 2018).
  •  Employees – The company has aimed and integrated the top-notch high performing employes and also aimed at providing a better resolution that could help to identify and match the company's aims and goals.
  •  Suppliers & Investors – The company has aimed to provide a better resolution and also aimed at the better suppliers' force and aimed at providing an edge to the investors. They are an important force of the people and important to consider in the company workings.
  •  Communities– As the company exists in the same society, it cannot subdue the community responsibilities. It has the aim to provide better resolutions and better transparency.

The company's main stakeholders' concerns are customers. The main presence to be part of any domain, as to be an edge to create a versatile environment and also be able to provide a transparent end-product consumer. The customers also have to aim to provide a better resolution and also be transparent in providing an open platform for the communication channel (Heikkurinen, 2018). The company has to aim for better ways to communicate and also provide a platform for a genuine communication problem. The communication can be conflicting, as it can be provided with the platform through the wrong information and at the same time, it could be able to provide a better advantage over. This could be noticed, how the stakeholders can provide an edge over the specified cases, which can create a lot of concern. This would be an edge to provide a better platform in terms of the relative increase in customer complains that could integrate a better platform to record the incidences of communication problems. It would be an idea to the implication that can provide an issue over the other.

Stakeholder interests can be aimed for better resolution and can integrate the external, communication methods which would include methods such as the newspaper, television or also be aimed to provide Twitter chats,  or Facebook chats. Another way to look over it is how there can be a better media platforms,  that could be able to provide and have a better-aimed message that could be passed in a clear and simple language. This would be more aimed at the corrections and how it can really in the media platforms that could significantly be providing a better good number of the stakeholder that could receive the communication officially. Another ay to look over it how is their platforms and include the source of actively considering the feedback of the customer's issue, along with providing a better platform of responses to the experienced person aimed at integrating a response plan. It is also how there can be a better response to the communication issue that could integrate the company’s official platforms, and it would include the stakeholders which can help to address the issue addressed for any interest. To look over it, the example is of building the communication and having the better-assured results that can provide better re-assured results aimed at the stakeholders (Kujala, 2017).

Stakeholder matrix

Stakeholder Group
 SalariesProfits TaxesJobsBusiness processValues Complaints
Employeesyes


yesyesyes
 Suppliers Yes    Yes  
 Owners Yes   Yes Yes   Yes
 Share holders Yes Yes Yes   Yes  Yes 
 Mangers  Yes   Yes Yes   Yes
 Communities  Yes  Yes  Yes  Yes 

Competitor Analysis

Harvey Norman faces stiff completion form its peers and so far has also developed strong good response mechanisms that could be an edge to the competition (Mehta 2018). There has been so far a total of 326 businesses in the same structure of Harvey Norman and it includes the wide companies such as the Woolworth Group Limited, along with the Myer Holding Limited and also the renowned Flemings, Safety, and Action. The other is the directly competing products that include a wide edge in the consumer goods that covers the video games, CDs, DVDs, along with Ultra HD Blu-rays. The company has a direct competitor by the name of JB Hi-Fi, as founded in 1974 and has been expanded in the 303 locations globally. It includes the hardware/electronics, DVDs along with the CDs, Blu rays, cameras, computers along with holding the sound systems, iPods and large home appliances. The company has been operating since 2016 with the $4 billion having 13 stores.

 The company competes with a wide range of competition and also includes an external, competition that imitates the company. Still, the company has shown an exhilarating performance of $348.61 million, due to the wide franchise sales (Psaros, 2015).

Conclusion

In the end, for any company, there has to be an edge over the focused source of creating an online chatting platform that makes the company exclusively focuses on how it has been focused over its stakeholders and how promptly it has been able to aid over the experienced company’s personnel (Abel, 2019). Another way to look, at the company, keeps its stakeholders engrossed and also helps to ensure how to create a platform aimed for the person that could focus on a specific area of interest of that stakeholder.

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