MGT501 – Internal and External Stakeholder Analysis - Torrens University Australia

Assignment Task

Critically analyse stakeholder theory in a real-life business or a project setting, with specific emphasis on relevant internal and external environment factors. In doing so, you are required to employ a stakeholder matrix and mapping techniques to determine the extent of stakeholder influence and interest.

Context

Stakeholder analysis is a technique for identifying stakeholders and analysing their roles in a given business or project scenario. The aim of the analysis is to map out and manage the stakeholders’ level of influence and degree of interest. Stakeholder analysis can also be used to assess the relationships between different stakeholders, as well as the issues they care about in the internal and external business environments.

Internal stakeholders are individuals or groups who are directly involved in a business/project and includes owners, board members, managers, employees, and investors. External stakeholders, such as customers, suppliers, competitors, society, and government are stakeholders who are indirectly impacted and influenced by the business or project activities. Understanding both internal and external stakeholders of a business/project is important as it helps to:

• Engage and enhance communication with relevant stakeholders
• Reduce/prevent/manage risks, and identify opportunities
• Improve internal stakeholder commitment, and
• Improve business reputation amongst external stakeholders.

Discussion

Each of these learning activities requires you to address a given topic as it relates to your chosen business organisation or project, and subsequently post your responses in relevant discussion forums. In addition, on each Discussion Forum topic, you are also required to comment on the response posted by one of your peers in a dissimilar industry and business/project.

It is very important to NOTE that completion of these four discussion forum activities will help you to build up information and resources required for your Assessment 2 Report (stakeholder analysis).

Please refer to the Modules and Learning Activities sections for more information about completing these learning activities. Please NOTE that your contributions to the Assessment 2 Discussion Forum learning activities will be graded as part of your Assessment 2 Report.

Main body

• Identify the functional areas of the business/project.
• Present the macroeconomic scenario and outlook.
• Identify internal and external stakeholders and their roles.
• Identify the nature and degree of main stakeholders’ interests, and implications of conflicting interests.
• Identify the level of the main stakeholders’ influence.
• Create a stakeholder matrix, and corresponding stakeholder mappings.
• From the discussion forums, choose a peer’s contribution, which MUST be in a dissimilar industry and business/project to yours. Against your peer’s: - Compare your industry and business/project operations; analyse the competition landscape, and - Identify the main points of stakeholder dissimilarities, and analyse the differences in their interests and influences.

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