Qantas' Stakeholders
1.2. Qantas’ stakeholders
Stakeholders are all groups and individuals who have an interest in the company being analysed. In order to focus on these groups which have the power to influence, corporate level activities have to be identified first. This can include large shareholders, governments and trade unions. The power and interest of those stakeholder groups have an impact on the process by which strategy develops at the corporate level and in each individual business. (Williamson et al, 2004, pg. 9)
Qantas’ stakeholders are its shareholders, employees, customers, business partners and the community. Indirect stakeholders of Qantas would include academics, the media, governments and nongovernmental organisations. They all have a major influence on the business, its strategy and therefore its performance.
According to the Institute of Chartered Accountants in England and Wales “the objective of financial statements is to provide information about the reporting entity’s financial performance and financial position that is useful to a wide range of users for assessing the stewardship of the entity’s management and for making economic decisions”.(Institute of Chartered Accountants in England and Wales, 2002/2003, pg. 22) Furthermore, it says that this objective can usually be met by concentrating only on the information needs of present and potential investors which are the defining class of user. That is the reason why I will focus on present and potential stakeholders in the main part of this assignment. http://www.grin.com/en/e-book/79856/business-deconstructed-qantas-airways-limited shareholders, customers, suppliers, employees, government regulators and members of the community where Qantas operates http://www.qantas.com.au/travel/airlines/governance-structure/global/en Table 1: Qantas’ Strategic Objective Analysis | Stakeholder | Salience | Stakeholder demands/needs that must be satisfied | Strategic objective(s) to address stakeholders
Stakeholders are all groups and individuals who have an interest in the company being analysed. In order to focus on these groups which have the power to influence, corporate level activities have to be identified first. This can include large shareholders, governments and trade unions. The power and interest of those stakeholder groups have an impact on the process by which strategy develops at the corporate level and in each individual business. (Williamson et al, 2004, pg. 9)
Qantas’ stakeholders are its shareholders, employees, customers, business partners and the community. Indirect stakeholders of Qantas would include academics, the media, governments and nongovernmental organisations. They all have a major influence on the business, its strategy and therefore its performance.
According to the Institute of Chartered Accountants in England and Wales “the objective of financial statements is to provide information about the reporting entity’s financial performance and financial position that is useful to a wide range of users for assessing the stewardship of the entity’s management and for making economic decisions”.(Institute of Chartered Accountants in England and Wales, 2002/2003, pg. 22) Furthermore, it says that this objective can usually be met by concentrating only on the information needs of present and potential investors which are the defining class of user. That is the reason why I will focus on present and potential stakeholders in the main part of this assignment. http://www.grin.com/en/e-book/79856/business-deconstructed-qantas-airways-limited shareholders, customers, suppliers, employees, government regulators and members of the community where Qantas operates http://www.qantas.com.au/travel/airlines/governance-structure/global/en Table 1: Qantas’ Strategic Objective Analysis | Stakeholder | Salience | Stakeholder demands/needs that must be satisfied | Strategic objective(s) to address stakeholders