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MGT501 Business Environment

Question

Answered

This assessments addresses the following Subject Learning

Outcomes:

c) Analyse and synthesise the fundamentals of business in the contemporary environment.

d) Construct and Justify a professional value proposition as a business practitioner

Context:

Business stakeholder analysis is a technique for identifying stakeholders and analysing their roles. The aim of the analysis is to map out the stakeholders’ level of influence and degree of interest with regards to the business. Stakeholder analysis can also be used to assess the relationships between different stakeholders and the issues they care about most.Internal stakeholders are individuals or groups who are directly involved in the business, such as owners, board members, managers, employees, and investors. External stakeholders are indirectly influenced by the business activities, like customers, suppliers, competitors, society and government.

By understanding both perspectives, the business can engage and enhance communication withrelevant stakeholders, reduce or prevent risks, identify business opportunities, improve internal stakeholders’ commitment in the business and the reputation of the business amongst external stakeholders.

Instructions:

In this assessment, you will examine a business in an industry that you have either previously worked in or would like to in the future. Leading up to the assessment submission, you must  participate in the Assessment 2 weekly discussions in the Discussion Forums on Blackboard. You will locate this discussion forum in the Assessment Area of blackboard. Weekly contributions are required in Modules 2-4. 

MGT501 Business Environment

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