DPR1504
ASSIGNMENT 1 , 2024
, STUDENT NO:
Module code: DPR1504 Assessment: 1
Marks: 80
Due date: 25 March 2024
•
QUESTION 1- Reasons for building relationships with stakeholders [20]
According to the ‘King Code of Governance’, called King IV, the principle regarding stakeholders
states the following: “As part of its decision-making in the best interests of the organisation, the
governing body should ensure that a stakeholder-inclusive approach is adopted”.
1.1 What are the three factors that a company should prioritise to understand who their
stakeholders are, and to have a a good relationship with them? (3)
The three factors that a company should prioritize to understand who their
stakeholders are, and to have a good relationship with them are:
- Identifying and categorizing stakeholders based on their influence and impact on the
organization.
- Understanding the needs and expectations of each stakeholder group, and how they
are affected by the organization's actions.
- Engaging with stakeholders through effective communication and collaboration, and
considering their input in the decision-making process.
1.2 . How is the reputation of The Lonmin Platinum Mining Company, based on the case study?
Motivate your answer. (5)
The reputation of The Lonmin Platinum Mining Company, based on the case study, is
not favorable. The company has been criticized for its poor treatment of workers,
particularly the living and working conditions in the Marikana mine. The events of the
Marikana massacre, where 34 striking miners were killed by South African police,
further damaged the company's reputation and raised concerns about its commitment
to the well-being of its employees. The company's handling of the situation and its lack
of effective stakeholder engagement have contributed to a negative public perception
and damaged its reputation.
ASSIGNMENT 1 , 2024
, STUDENT NO:
Module code: DPR1504 Assessment: 1
Marks: 80
Due date: 25 March 2024
•
QUESTION 1- Reasons for building relationships with stakeholders [20]
According to the ‘King Code of Governance’, called King IV, the principle regarding stakeholders
states the following: “As part of its decision-making in the best interests of the organisation, the
governing body should ensure that a stakeholder-inclusive approach is adopted”.
1.1 What are the three factors that a company should prioritise to understand who their
stakeholders are, and to have a a good relationship with them? (3)
The three factors that a company should prioritize to understand who their
stakeholders are, and to have a good relationship with them are:
- Identifying and categorizing stakeholders based on their influence and impact on the
organization.
- Understanding the needs and expectations of each stakeholder group, and how they
are affected by the organization's actions.
- Engaging with stakeholders through effective communication and collaboration, and
considering their input in the decision-making process.
1.2 . How is the reputation of The Lonmin Platinum Mining Company, based on the case study?
Motivate your answer. (5)
The reputation of The Lonmin Platinum Mining Company, based on the case study, is
not favorable. The company has been criticized for its poor treatment of workers,
particularly the living and working conditions in the Marikana mine. The events of the
Marikana massacre, where 34 striking miners were killed by South African police,
further damaged the company's reputation and raised concerns about its commitment
to the well-being of its employees. The company's handling of the situation and its lack
of effective stakeholder engagement have contributed to a negative public perception
and damaged its reputation.
