Evaluate the strategic vision of CRH PLC. Who are its key stakeholder groups and how well is each served by the mission and vision? Strategic vision is‚ “a challenging and imaginative picture of the future role and objectives of an organisation‚ significantly going beyond its current environment and competitive position” (Lynch 2006‚ p.351). The future role involves thinking who the company wants to serve (key stakeholders)‚ the reason behind the desired future state‚ the objectives are the stepping
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the corporation and the employees that work for the corporation‚ but it affects the corporations ’ stakeholders‚ and the public communities. The decisions made still need to keep the best interest of everyone involved without losing more of the corporation than what needs to be lost. THE ROLE OF ETHICS AND SOCIAL RESPONSIBILITY Corporations have a great deal of responsibility to their stakeholders to make the best decisions for them as possible. However‚ the decisions should not be unethical that
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Explain the roles of both internal and external stakeholders in the selected business and show how their objectives and expectations have changed over time. What is a Stakeholder? A stakeholder is someone who is interested in a company or business‚ e.g. Tesco; they can either be an internal or external customer to the business. They may also be affected in a situation that happens to the company because they them selves may of given and invested money into the company or may just be interested
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Various stakeholders have the right to influence the decisions that the company makes since they directly command respect from these companies. Due to the influence exerted by shareholders‚ business policies must be formulated to fit the needs of most if not all stakeholders so as to have successful businesses. Stakeholders are all individuals and organizations that are related to the company in one way or another. The term stake is usually taken to mean a portion or share in the business. Examples
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Change Management The initial attitude towards resistance is one of negativity. It is usually viewed as a burden to management when related to change in that particular environment due to the possible conflict it may cause‚ and the perhaps negative change that it may result in‚ therefore portraying them as a bad manager. The immediate harmony of a company in the short term is always the easier choice for management‚ avoiding resistance‚ which is the function of a variety of social factors including
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Part I. Use the stakeholder model of business environments to critically examine the external environment of Asda Wal-Mart as outlined in the case study that follows. Each organisation has a unique external and internal environment that has unique impacts on the organisation. A stakeholder’s analysis categorises that environment determining whether an organisation or a person has any low or high interest and power over the business. Based on The Asda Wal-Mart case study‚ stakeholders are consecutive:
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Introduction P6: This report describes the influence of political‚ legal and social factors on the activities of Coca-Cola Enterprises Ltd and Croydon Health Services NHS. The report also identifies how the aforementioned factors may affect its stakeholders. All businesses will be affected by factors in its environment. The following are the 3 main factors affecting businesses; 1. Social Factors Social factors refer to the changes in the lifestyle‚ behavior‚ attitudes and tastes of different
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(P2) In a business report: Task 2: Describe the different stakeholders who influence the purpose of two business organisations you have selected. NHS Stakeholder: Stakeholder is a person‚ group or organisation that has interest or concern in an organisation. Stakeholders can affect or be affected by the organisation’s actions‚ objectives and policies. Some examples of key stakeholders are creditors‚ directors‚ employees‚ government‚ owners (shareholders)‚ suppliers‚ unions‚ and the community
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In normal times‚ examining the changing nature and purpose of business firms would be a very challenging assignment‚ but we are not living in normal times. As well as all the usual topics globalisation‚ sustainability‚ ethics and stakeholders‚ there is a need to assess the impact of the recent global recession on the nature and purpose of business firms. As business has moved from bartering rabbit skins for sacks of potatoes‚ to electronic trading of mortgage back securities‚ the purpose of business
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hospital‚ Rehab hospital as well as an Elderly hospital In your capacity as a Financial Controller you are requested to explain what mechanisms would you adopt to: (a) Ensure regular monitoring of the business (b) alert respective internal stakeholders particularly when an adverse variance seems probable Articulate also which information would you make use of to achieve (A) and (b) above and what reporting structures would you deem appropriate to achieve your objectives. Allocating
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