ASSESSMENT 2 BRIEF Subject Code and Title MGT501 Business Environment Assessment Internal and External Stakeholder Analysis Individual/Group Individual Length 2,500 words Learning Outcomes This...

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COLES GROUP
EXECUTIVE SUMMARY
The report focuses on the Coles group which is among one of the most famous supermarket chain of Australia. The report indicates the functional areas practiced by the Coles group to ca
y its successful venture. The stakeholders who are considered as the main key in the success of the organization are also mentioned here. The report focuses on several interest as well as the influences of the stakeholders that are being practiced by them, which arises the conflict of interest. Further in the report there is a comparison between the Woolworths and the Coles group concerning the several factors that differs them from each other. And at last the reports focuses on the insight gained during the whole process.
Table of Contents
1.    Introduction    4
2.    Functional areas of the business (Identify and analyze)    4
3.    Internal and external stakeholders and their roles    4
4.    Nature and degree of those main stakeholders’ interests    4
4.1 Implications of conflicting interests    4
5.    Level of main stakeholders’ influence (power)    4
5.1 Source of stakeholder influence (power)    4
6.    Stakeholder Matrix (Map)    4
7.    Comparison with a different industry    5
9.1 comparison of the two industries    5
9.1 dissimilarities between stakeholders between the two industries    5
9.2 dissimilarities between stakeholders’ interests between the two industries    5
9.3 dissimilarities between stakeholders’ influences between the two industries    5
8.    Conclusion    5
9.    Appendices    5
Appendix 1: Discussio Forum Posts     5
Appendix 2: if any    5
10.    References    5
1. Introduction
Mention
iefly about the company and the industry. This company should from ASX 100 list (https:
www.asx100list.com/)
The company chosen over here is Coles group which is a famous supermarket chain and is an Australian based company which deals in foods and groceries in Collingwood since 1914. Steven Cain is the newly appointed CEO of the company and James Graham is the chairman of the Coles group. Coles group is the second most revenue generating company after the Woolworths in Australia. The company has employee strength of around 130000. The company has around 2500 retail outlets present in all over Australia. The Coles group is known for serving quality services and values to around 21 million customers each week. The company is well known for providing quality service to its customers and retaining a huge customer base.
The company also has a huge turnover rate considering its presence over the market. As of the year 2019 the net revenue of the company is AUS$38.464 billion. Net income of Coles is AUS$1.467 billion. The total asset acquired by Coles Ltd was AUD$9.777 billion and its equity financing amounted to AUD$3.357 billion. The turnover over of the company replicates the success of the company. Considering the company it is present in various parts of Australia. In the year 1960 the company opened its first store in Melbourne subu
s. The company deals in the retail industry it tends to sell the retail and consumer service products in and around the Australia (Australia, 2019).
The company eventually deals in the Coles supermarket where all the groceries and consumer products and services are available for the customers in both online as well as the offline mode. The company is a giant retailer in the supermarket chain of stores. It also deals in several segment as the Coles liquor offers the customers various types of liquors, Coles express deals in fuels and convenience retailer and the Coles financial services offers several range of financial service including credit, insurance and the personal loans to consumers.
2. Functional areas of the business (Identify and analyze)
Unlike the other business organizations Coles group is very much inclined towards its functional areas. The major functional areas of the Coles group includes-
Management
The management area of the company is one of its most prominent areas as it is inclined towards supervising the performance of the employees working in the company. It takes into account the prime functions of planning, organizing, controlling, staffing and directing. The management team of the company takes into consideration the planning of the several short and long term goals for the company as well as the employees. Further it focuses on adopting initiatives to achieve those goals.
Operations
The operations department of the company focuses on converting the input into output in the most favorable way. The operations department takes into account the day to day activities that are ca
ied within the organization. The operations department keeps a keen account of the works of the organization (Van Kampen & Kirkham, 2020).
Marketing
The marketing department of the company keeps a close insight for analyzing the needs and demands of the customers and designing the products and services in order to meet the needs. The marketing function of the company pays attention in promoting the several goods and services of the organization so that it could attract more and more customers.
Accounting
Accounting is also concerned as one of the prime functional areas of the company it provides the necessary information regarding when and how the funds would be allocated. The accounts department also takes account of the financial statement of the company with the every passing year.
Finance
The finance department of the company adopts the basic measure for planning, obtaining and managing a company funds. In this functional area both the long term and short term financial capital needs are analyzed and taken care of. It takes also the necessary steps regarding the raising and the settlement of the funds.
3. Internal and external stakeholders and their roles
Identify at least 5 in each internal and external, and analyze them
The 5 internal stakeholders of the Coles group are the Board of directors, Executive Managers, Auditors, Operation Teams and the subject matter experts of the company. The board of directors is considered as the official owner of the company they take all the major and high level decisions for the company. They also keep an account of all the small and big details of the company and make the changes accordingly when required. The Executive Manager can be considered as the head of the management team they tend to manage the ongoing situation and supervise the team accordingly. The executive managers take all the managerial level decisions. The Auditors are the one who closely looks into the accounts section of the Company; they ca
y on all the things that is related with the finances of the company they keep an account on the funds as well as the financial issues (Grimmer, 2019).
The operations teams of the company keep a close account on the production, manufacturing, dispatching as well as the delivery of the products, they considered the favorable ways for converting the input into output. The subject matter expert of the company keeps an eye on the possible ways which can lead the company to its betterment.
The 5 external stakeholders of the Coles group are  its customers, suppliers, the local community in which it operates its business, the creditors from whom they have bo
owed debt and finally the government of the country in which it operates. The customers are the prime stakeholders of the company as the company initiates their product by keeping the customers in mind as customer satisfaction is the prime objective of every company. Suppliers are those who provide the raw materials to the company which helps them in manufacturing their products. The company has several suppliers as they operate in varieties. The local community are those community in which the company operates eventually the company prioritize the community by providing the employment opportunities. The creditors are one of the most prime external stake holders of the company they are the banks and the financial institution that provides loans and funds to the company to ca
y out their several works. The federal government under which the Coles group works is the Australian government the company is able to ca
y on their work without any restrictions and ba
ier due to the support of the government (Wademan, 2020).
4. Nature and degree of those main stakeholders’ interests
Identify and analyze
The nature and degree of the main stakeholders interest differs from one another.
Board of Directors- the board of directors are considered as one of the most influential stakeholders. The return on the investment is one of the major factors that influence the decision of the board of directors. As if they did not get the expected result they can take any decisions related to it sooner or later.
Managers- Managers are the one who influence the investment decision of the company as they are the one who decides the market of the product. Though their decisions may pose risk for the shareholders of the company.
Customers- the customers of the company are among the most influential external stakeholders. They aim at maximizing their value for money by getting quality and safe products.
Government- government can be termed as the most powerful stakeholders of a company. They uphold their interest in the company by imposing several rules and restrictions and certain ba
iers in the ca
ying of the company work (Olestad, 2017).
Creditors- creditors are those stakeholders who are considered as utmost important for the company there inters relies within the interest of the company as they lend the money to the company so that the company could maximize its profit through it.
4.1 Implications of conflicting interests
Identify and analyze
Board of Directors- as the board of directors is one of the...