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Home MGMT8320 – STAKEHOLDER MANAGEMENT

by Lucy Martin

Updated April 4, 2022

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MGMT8320 – STAKEHOLDER MANAGEMENT

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Subject Code

:

MGMT8320

Subject Name

:

Stakeholder Management

University Name

:

Conestoga College, Ontario, Canada

Introduction

S

takeholder Management: The purpose of this subject is to help students understand the principles and practices of

S

takeholder Management: The

influencing through effective communication and presentation skills for the success of the business organization.

purpose of this subject is to help students understand the principles and practices of influencing through effective communication and presentation skills for the success of the business organization.

In order to run smooth business operations, most business organizations implement a structure of the organization in their business. A structure of the organization explains how various tasks are distributed in order to achieve a company’s aim. It describes an employee’s job duties and obligations in a corporation. Employees with more authority will be promoted further up the organizational ladder. Furthermore, the more well-organized a structure is, the more efficiently a business may work. Functional structures, futarchy structures, matrix structures, and divisional structures are the four types of organizational structures.

The process of matching an organization’s structure with its objectives, with the ultimate goal of improving efficiency and effectiveness, is known as the design of the organization. The need to improve service delivery or specialized business procedures, or the imposition of a new mandate, can prompt work.

It entails more than just building a structure, it includes: Recognizing the need for change as well as the environment. Understanding corporate processes, workflows, roles and responsibilities, workloads, activity analysis, and resources is essential. Creating new models or structures and putting them to the test. Organizing and supervising the transition from the old to the new structure. Putting the change in place and keeping track of it.

Core Concepts of Business Plan Writing

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Brief About Conestoga College

Conestoga College is a public college situated in Kitchener, Ontario, Canada. The college is among one of the fastest-growing educational institutions in Canada. Conestoga College is one of Canada’s premier institutions, offering students from all over the world a broad spectrum of career-focused education, training, and research programs. It is known around the world for its career-focused education programs, which include apprenticeships, diplomas, continuing education, part-time studies, degrees, and post-graduate courses.

Assessment Details

All the students will work on a hypothetical company/firm and give it a unique name.
o The company/firm should be registered as a business in Canada, though can operate in and cater to clients/customers/consumers outside of Canada.
o It could be a small, medium, or large business enterprise.
o The business should either create product/s or provide services.
o Students can decide on the current life cycle stage for the business. For example, you may consider establishing a new business venture, expanding or restructuring an existing business, etc.

Focus On – Your assignment document should contain the following 4 sections. Each section has been divided into points ranging from 1 to 3; incorporate answers to all the points.

Section 1- Description of the Business

Provide a complete description of your business. Consider this section as an opportunity to introduce the what, why, and how of your business to the audience.

Goals and objectives.

Organizational structure/culture

Business Model

Product or services created; their value proposition, competitive
advantage etc.

Target audience.

Timeline- How long have you been in business/ is it a fresh start?

Section 2- Business Ownership

1. Which form of business ownership model does your business follow, or is planning to follow, and why?
2. Advantages and disadvantages of the chosen business ownership model?
3. Given the COVID 19 pandemic, what general threats and opportunities do you foresee for your business?

Things to Remember:-

While answering, keep in mind the products and services being
offered by your business.

Complexity, size, and geographic expanse of your business.

Section 3- Cost-Base Analysis

1. List the Types of Costs associated with your business?
1.1 Along with the Fixed and Variable costs, also discuss the contingencies and future-needs costs.
1.2 Mention at least 5-8 examples for each type.

2. Depending on your Cost-Base Analysis, what Degree of Managerial Control would you have over the financial decisions of your business. Explain?

Section 4- Sources of Funds

1. Following the information provided in the sections above, which Source/s of Funds is your business eligible for?

2. According to the need of your business, which of the eligible sources will you choose to fund your requirements. Clearly mention the financial tools you plan to utilize, and why?

3. If COVID 19 altered your potential to secure funding from the primary source. What alternative options would you explore (financial tools) to support your business? Explain?

Things To Remember:-

Remember that there are three significant Sources of Funds available, as discussed in your course text.

However, each business has specific requirements and ownership structure that determines the most appropriate source of funding.
Financial tools are the different options available under each Source of Funding. E.g., Under Equity Financing, there are tools like an IPO, APO, private equity, etc.

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Assignment Instructions

This is an individual assignment: The assignment document should NOT be more than five pages in total, including the title and reference page.

Page 1: should be the Title Page consisting of student name, ID number, section, course code, course name, professor’s name, and submission date.

Page 2: The main body of the assignment will begin on page 2.

Page 3: The last page is for References, noting all the sources used, including the course text.

There is no minimum or maximum word limit for this assignment.
The assignment submission should be made in an MS Word format only, to the Course Shell Assignment Folder titled Individual Assignment

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FAQs

                        Why is market research necessary in a marketing plan for small business?
                    
                            Market re­search is crucial in a marketing plan for small businesses. It pinpoints your target custome­rs, learns about competitors, and monitors industry tre­nds. That means your marketing is knowledge­able and targeted.
                        
                        How can I set practical marketing goals for my small business?
                    
                            Create Specific, Measurable­, Achievable, Rele­vant, Time-bound (SMART) obje­ctives in your marketing plan for small business. This will provide a straightforward path and a way to gauge progre­ss. For example, Your target is to boost the inte­raction on social media by 30% within half a year.
                        
                        What performance metrics should I include in my marketing plan for small businesses?
                    
                            The main ones for your marketing plan for small businesses include­ the amount of online traffic you draw, the number of visitors who become custome­rs, the cost of drawing in customers, and social media activity. The­se can show how well your marketing is working and what ne­eds changing.