QSO 321 Module Three Assignment Template Assessment

Assignment Task

Stakeholder

• CEO
• Board of Directors
• CFO
• Managers
• Employees
• Costumers
• Supplies
• Creditors
• Governments

Role

• Provides vision, direction, and high-level strategic decisions for an organization
• Builds a company’s foundation by framing its vision, purpose, and mission” (Vaidya, 2019).
• BODs make sure that the executive staff is working towards the mission and goals that have been set forth by the company
• “Drive the direction and success of the organizations they work in using their knowledge and understanding of the financial position of the company” (Ainsworth, 2019).
• Managers oversee day-to-day operations
• Employees take care of day-to-day operations, whether that be in sales, production, marketing, etc. They typically work under a manager who monitors their work.
• Purchase goods and services from sellers
• Produces goods and services to sell whether that be to consumers or to other companies to provide them with goods for their production.
• Lend finances to the businesses in the form of loans or mortgages to be
• fully paid with interest on top” (Team, n.d.).
• “Uses internationally recognized labor laws to ensure that employee welfare is taken care of” (Team, n.d.).
• “Collects taxes from establishments in the form of corporate income tax and income tax from the employees of the company” (Team, n.d.)

Responsibilities

• Make sure the production of goods and services is being upheld to the standards and goals set by the organization.
• Ensure that jobs are being carried out as they should be.
• Supervise employees.
• They must have a solid understanding of the goals and mission of the company and work toward meeting those goals and doing what is best for the organization.
• “Supports strategy development and helps enable its execution” (Ainsworth, 2019).
• “Ensure adequate assessment and mitigation of risk and compliance with applicable regulatory or other legal requirements” (Ainsworth, 2019).
• “The board ensures that the company doesn’t risk the shareholders’ and investors’ assets” (Vaidya, 2019).
• “The board of directors’ foremost responsibility or duty is towards the company’s stakeholders” (Vaidya, 2019).
• Responsible to employees, customers, the board of directors, and other stakeholders for decisions made about and for the organization
• Employees perform various tasks that help meet the goals and mission of the company.
• “Liable to maintain all the rules of the organization while carrying out their work” (Brain, 2020).
• To purchase what is needed from various suppliers and decide whom to purchase from, whether it be price-driven or loyalty to a company.
• “Supply quality goods or materials to the companies of engagement” (Team, n.d.).
• “Defines the repayment of loans and mortgages paid out plus
• interest
• “Ensures that businesses adhere to ethical business practices aimed at fair competition and consumer protection.” (Team, n.d.).

Influence

• Influences strategic initiatives, goals, values, and investments of the overall organization internally; these include those that impact revenue streams, costs, investment into employees, the elimination of waste, and the overall impact of the organization
• Can approve or create organizational initiatives that provide resources needed to strengthen TBL alignment in the organization
• “The board makes crucial strategic decisions and plans for mergers and acquisitions, stock splits, etc.” (Vaidya, 2019).
• “Votes and elects the company’s CEO and can also fire a CEO who is bringing problems to the firm” (Vaidya, 2019).
• “Must navigate complex data and provide analytics and predictive scenarios that drive action and decision-making” (Ainsworth, 2019).
• “Identify opportunities for top-line growth and drive profit improvement, not just through the traditional methods of cost control, but through examples such as product line/regional profitability analysis and benchmarking against industry peers”
• A CFO has a lot of influence on a company, if proper financials and GAAP are not upheld, this could prove to have a great negative impact on the company.
• “Translating corporate goals into functional and individual goals” (Reh, 2020).
• “Monitoring. performance and initiating action to strengthen results” (Reh, 2020).
• “Planning and goal setting for future periods” (Reh, 2020).
• Employees carry out day-to-day operations that support the goals set forth by the organization” (Brain, 2020).
• “Use their unique abilities to fix problems, drive sales, and deal with customers” (Brain, 2020).
• Customers’ loyalty is not guaranteed as they will always be loyal to the company or organization they like. Therefore, a firm that does not satisfy a customer’s needs continuously cannot win them over” (Team, n.d.).
• “A company that engages excellent suppliers will end up with high-quality goods that meet the needs of consumers” (Team, n.d.).
• “Can influence the operation of a business by raising or lowering the prices of goods” (Team, n.d.).
• “Changing their repayment lengths, changing the interest rates on Can impact an organization if they choose to not provide financing.
• This could cause a company to close its operations.loans, and extending loans to businesses or not” (Team, n.d.).
• “The government protects the employees in the organization” (Team, n.d.).
• “It encourages firms to invest and create jobs and, in some instances, even introduces tax relief for companies in select sectors” (Team, n.d.).

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