TABLE OF CONTENT
Introduction
QUESTION 1- Reasons for building relationships with stakeholders
Question 2 – System Theory
QUESTION 3 - Stakeholder identification and analysis
Conclusion
References
, Introduction
This assignment focuses on analyzing the stakeholders of The Beans Company and understanding
their roles, expectations, and impact on the company. Stakeholder management is essential for
maintaining good business relationships, ensuring legal compliance, and improving the company’s
reputation. The assignment identifies key stakeholders, categorizes them as internal or external, and
conducts a stakeholder analysis to evaluate their relationship with the company. Additionally, the
assignment highlights challenges faced by The Beans Company, such as labor law compliance,
community expectations, and corporate social responsibility. By examining these factors, the
assignment aims to demonstrate the importance of effective stakeholder engagement in business
success.
QUESTION 1- Reasons for building relationships with stakeholders
1.1
Identification of Stakeholders – A company must identify all individuals or groups who are affected
by or have an interest in the business, such as employees, investors, customers, suppliers,
communities, and government entities.
Understanding Stakeholder Needs and Expectations – The company must assess what each
stakeholder values, their concerns, and their expectations regarding wages, working conditions,
business ethics, and corporate social responsibility.
Regular Communication and Engagement – Open, transparent, and consistent communication helps
in building trust and addressing concerns before they escalate into conflicts.
1.2
The reputation of Lonmin Platinum Mining Company is largely negative due to its handling of the
Marikana miners' strike.
Poor Labor Relations: The company failed to address miners’ concerns about wages and working
conditions, leading to dissatisfaction and conflict.
Association with Violence: The strike led to violent clashes, resulting in the deaths of 34 miners. This
was widely reported in the media, damaging Lonmin’s public image.
Introduction
QUESTION 1- Reasons for building relationships with stakeholders
Question 2 – System Theory
QUESTION 3 - Stakeholder identification and analysis
Conclusion
References
, Introduction
This assignment focuses on analyzing the stakeholders of The Beans Company and understanding
their roles, expectations, and impact on the company. Stakeholder management is essential for
maintaining good business relationships, ensuring legal compliance, and improving the company’s
reputation. The assignment identifies key stakeholders, categorizes them as internal or external, and
conducts a stakeholder analysis to evaluate their relationship with the company. Additionally, the
assignment highlights challenges faced by The Beans Company, such as labor law compliance,
community expectations, and corporate social responsibility. By examining these factors, the
assignment aims to demonstrate the importance of effective stakeholder engagement in business
success.
QUESTION 1- Reasons for building relationships with stakeholders
1.1
Identification of Stakeholders – A company must identify all individuals or groups who are affected
by or have an interest in the business, such as employees, investors, customers, suppliers,
communities, and government entities.
Understanding Stakeholder Needs and Expectations – The company must assess what each
stakeholder values, their concerns, and their expectations regarding wages, working conditions,
business ethics, and corporate social responsibility.
Regular Communication and Engagement – Open, transparent, and consistent communication helps
in building trust and addressing concerns before they escalate into conflicts.
1.2
The reputation of Lonmin Platinum Mining Company is largely negative due to its handling of the
Marikana miners' strike.
Poor Labor Relations: The company failed to address miners’ concerns about wages and working
conditions, leading to dissatisfaction and conflict.
Association with Violence: The strike led to violent clashes, resulting in the deaths of 34 miners. This
was widely reported in the media, damaging Lonmin’s public image.
