Dsicuss about the Bi-Cultural And The Internal Business.
The following report aims at measuring the impact of the internal business environment in the Ngai Tahu Holdings in New Zealand. The chosen company deals with preparing the sea food, farming, and tourism and property investment. The business traits of this company help the people of the region to earn their livelihood. The internal growth of gthe organization is very important to note the direction towards success for them. The growth of tourism is much evident in terms of their profits. The scrutiny of the organization has been done properly so the different issues can be highlighted. The stakeholder management of the organization has been discussed here as well in this paper. The role of the stakeholder relationship management and its role in Ngai Tahu Holdings have been discussed here properly. The company will look to take the advantage of their market reputation to improve their business.
The performance of any organization needs to be measured accurately as it helps he managers to correct the deficiencies that lies within the organization and the departmentsof the organization (Mulliner, Smallbone & Maliene, 2013). The deficiencies that are solved by the managers are related to the saving the cost of manufacturing and production of the gods and services. Without the use of the right and accurate tools, it is difficult to adjust the operations of the organization. In order to obtain a quantitative analysis of the performance of the organization, interviews and surveys are conducted. The information collected by conducting the interviews are then converted into numerical values so that it becomes easy to analyse the results of the organization. The numerical data that s produced is them converted into graphs and charts.
The organization in discussion, Ngai Tahu Holdings, have been reported to be functioning excellently. According to a business report of Australia, the products of the firm the 100 percent organic in nature and has no preservatives. The services provided by the organization are also very effective and the customers are 100 percent satisfied (Glasson & Therivel, 2013). The firm takes care of their employees as a result the percentage of turnover is very less, less than one percent.
The measurement helps the manager to develop new and innovative means of improving the employees. Through the means of the graphs and tools, the managers can determine the level of production and the amount of profit earned by the firm.
The tool provides a clear picture of the performance of the organization. The charts and the graphs are helpful in proving an analysis of the production rate of the organization, the attendance of the employees working in the firm and the satisfaction level of the customers. The firm can assess the progress of the firm during the last five or ten years. The firm can also make their next plan of development for a period of five years by assessing the results and the use of the tools.
“The Strategic Plan for the Future”.
The report focuses on the ideas that the organization is going to implement from the following year. The plans would bring positive changes towards the methods of production.
The organization, Ngai Tahu Holdings, are located in the country of Australia and is involved in fisheries, farming, capital, property and tourism (Wilson, 2015).
The organization, Ngai Tahu Holdings, are planning to bring some new and innovative products to the reach of the customers. They have planned to expand their business in sectors like restaurants and home deliveries. Besides, the firm will now would also arrange the hotels and the major tourist spots for the customers. As they are already engaged in the farming sector, they are now planning to open out a restaurant and start home deliveries.
To conclude, the organization is spreading its operations over a vast area. They have started to invest in some new business such as those of the food industry. As they are having their own harvests, they have decided to enter into food industry and open up restaurants and start home deliveries in certain areas.
Wilson, D. (2015). Satisfying honour? The role of the Waitangi Tribunal in addressing land-related treaty grievances in New Zealand. In Land, indigenous peoples and conflict (pp. 106-119). Routledge.
Ngai Tahu Holdings are in line with developing the mechanism for the growth of the tribes in New Zealand. This is why they have to depend on their stakeholder support as well. The internal and external stakeholders are very much active to provide them with the proper support so they can implement the different strategies for the overall development indeed. The internal stakeholders can be considered as the employees who look upon all the matters of the day to day operations of the company. All the employees work very hard to achieve the goals of the organization. The organization hires the most competent employees so they can yield the best benefits for the organization. Other internal stakeholders are the suppliers of the organization who provide the best quality products for preparation of the sea food and catering to the needs of development in tourism.
The external stakeholders for Ngai Tahu are the distributors of their products. The distribution channels through which they export their materials to China are the major stakeholders of the company. The second stakeholders are the people who look after the governance programs of the company for the cadet scheme and providing the meritorious students with the educational scholarships. The people who play a major part in shaping the betterment of the organization are their major stakeholders indeed. The best people will always help the organization to achieve the aims they have put in front of them for 2025.
Stakeholder management is a very important thing for the business organizations in the contemporary times (Bourne, 2016). The stakeholder management for the organizations depends on the building of the proper relationships with the target audience and the people who are very important in this section. Some important issues that are related with the business organizations and stakeholder management are the stakeholder identification, stakeholder analysis, stakeholder communication (Bourne, 2016).
When a business organization is being set up, it should have a proper strategic direction towards which they should work for. The organizations will have to work for the betterment of the organization. They must work for achieving the business objectives as well. The proper stakeholder management for the business organizations will definitely be able to anticipate the barriers and resolve the issues properly indeed (Wayne, 2012). The project support can be gained in this context as well. The stakeholder management strategy will definitely be able to build the strong relationships with all the important internal and external stakeholders (Bourne, 2016). The different stakeholders are needed to be communicated all the time so the business organizations can benefit from these (Fassin, 2012). The stakeholder management will implement the various strategies by which they can inspire the employees as well. The competitive boundaries can be tackled by the implementation of the stakeholders as well. The proper stakeholder management in the business organizations should be developed properly in order to determine the strengths and weaknesses of the organization particularly (Andriof et al., 2017).
The internal and external environment of the company is very much to understand the ways the company Ngai Tahu Holdings can improve their business operations. The two most important stakeholders for the company are the distributors and the employees of the organization (Fassin, 2012). Some of the useful stakeholder management methods are the invitation letters, questionnaires and surveys, exhibitions and road shows, public meetings, use if media, structured interviews, focus groups, workshops and others. The internal and external environment of the company will be very important to determine how the organization will cope up with the different adversities (Fassin, 2012).
It is the duty of the stakeholders to build the relationship of trust with the different target audience. The organization should look to implement the different strategies to communicate with the target audience. The use of social media will be a very important medium for the stakeholder engagement as well (Forbes, 2013). As the target population for the sea food of Ngai tahu islands is the Chinese people, they should always take the proper help from the media people so they can let the Chinese people know about their quality of the products indeed. This will be very helpful for them to attract the Chinese customers at their disposal (Andriof et al., 2017). The distributors and employees can approach the customers of Ngai Tahu Holdings through their social media platforms and ask them to fill out the online questionnaires. Thus they will be ablke to know about the different desires of the customers regarding the export of sea food (Forbes, 2013).
The distributors can also approach the customers about how to improve their educational scholarships. The ways the cadet scheme can be developed will be discussed as well through the newspapers and radio (Wayne, 2012). The customers can also view their opinions through the online notice boards as well. This is why the use of the media can be interpreted as a very useful stakeholder management method.
The media method of stakeholder engagement has been used here because the media is a very strong medium for communicating with most number of people. The stakeholders should always be communicated properly so the feedbacks can be sorted from the stakeholders at the most. It is the duty of the employees of all levels to communicate with the suppliers and distributors to send the materials within the time. The target audience should be contacted within the proper time as well so the crucial advice can be sought from them. The Ngai Tahu Holdings should always put the focus on the benefit of the customers from all the perspectives. This will surely help them to understand the needs of the customers from all sorts. Thus the customers can be able to share the feedbacks with the suppliers, distributors and managers of how the services can be improved. As this is a medium generally based on the technology, the feedbacks can be shared in a faster way and the actions can be taken faster as well. This will boost up the relationship between the customers and the service providers.
The Stakeholder Relationship Management is the most critical component that is adopted by an organization so that the project, program or the activity taken by the organization is delivered to client successfully. The management helps the organization to create positive relationships with the stakeholders through appropriate management techniques and on the expectations and the objectives of the stakeholders (Bourne, 2016). The management of the stakeholders help in increasing the reputation or the goodwill of the firm and also helps the managers to take better decisions and involve in better decision making process. For instance, the organization or the company in discussion, implement stakeholder relationship management, they would be earning mire goodwill and there will be more customers or clients. Besides, the managers of the firm will also be able to make decisions as they would be having more and better information for their stakeholders.
The significance of viable partner and network commitment in the arranging and execution of undertakings requires a comprehension of managing host networks and key partners, especially the individuals who speak to an apparent danger to your task. This is frequently an issue for venture supervisors and inability to hit the nail on the head can be expensive as far as open contention, postponed or surrendered ventures – and in addition risking harmed professions, notorieties and connections.
Engaging with the stakeholders have certain benefits for the organization. It helps the organization to build up trust, manage the risks that might occur within and organization.It help in the enhancement of the brand value and the brand name. The stakeholders, engaged with the organization would help the firm, Ngai Tahu Holdings to manage the risks, establishment of the brand value and will have good reputation of the brand.
There are times in which partners are centred on their own advantages. This is normal yet not select to outside partners. Regularly, outer partners are local gatherings or political nominees who won’t not act in an organization’s best advantage if the organization isn’t putting forth anything that helps the partner with his constituents. Indeed, even an inward partner.Blocking progress is additionally much of the time found when outside partners expect that a business’ activities will hurt their interests.
Engaging a stakeholder also has some drawbacks. Though the role of the stakeholders varies according to the projects of the organization, taking responsibility is of prime importance. The involvement of the stakeholder is necessary to get the product that fits well into the needs, the stakeholder also need to take time out of his or her daily schedules I order to handle the responsibilities. Some of the stakeholders are reluctant to bear the pressure of the responsibilities. Similarly, communication is also an essential component of any project and that of the organization. The stakeholders who are not directly linked to and are working with the projects, communication is becomes a problem for them. They might get apprehensive or baffled on the off chance that they don’t comprehend what is going on all the time. Without normal, institutionalized interchanges, partners may pass up a great opportunity for key choices or have no clue what is going on and when input is required (Wolf, 2014).
The stakeholders from time to time consider themselves to be slick minimal homogenous partner gatherings.Besides a deliberate exertion must be made to guarantee that partners are met all requirements to give the correct understanding/input into a particular manageability perspective. This may require capacitating partners with the information and aptitudes to have the capacity to lock in. Guarantee that the correct partners are recognized sufficiently early to guarantee that an assortment of recognitions and sources of info can be acquired that speaks to the perspectives, feelings of a wide assortment of partners as this will guarantee adjusted and reasonable portrayal of suppositions on a particular topic. Organizations ought to be careful not to just draw in partners they have existing or great associations with, however be strong and sufficiently bold to tune in to contradicting and basic voices.
In order to maintain good rapport and relationship with the stakeholders, the manager of the firm, Ngai Tahu Holdings need to keep the following in mind:
While the managers are aware of the fact that the stakeholders can help them to achieve their vision, the mangers of the company should share their vision with the stakeholders. The vision, mission and the objectives should be shared on a regular basis and the employees and the managers should no wait for the structured meeting. They can also for the advice of the stakeholders.
The meeting with the stakeholders should be arranged on a regular basis as the later are more capable of picking up the potential challenges before they would be affecting the organization. It is important to bide the promises made to anyone as it is the base on which all the relationships are based. Keeping of the promises help the managers and the organization as well to develop and the stakeholders would also maintain a good rapport with the organization (Parsons, Lacey &Moffat, 2014).
The mangers and other higher authorities of an organization should be open minded in nature and should be able to accept the decisions of the stakeholders. The managers should not state that their decisions and the post are superior to the others and should not involve in a “win-win relationship”. There is nothing more awful than finding out about a ‘transgression’ months after the said occasion occurred. With regards to positive relationship working with the stakeholders, it should be ensured that the authorities of the organization are open and straightforward. In the event that something is annoying someone, it should be discussed openly and any confusion that have arose should be dispelled into the air.
The following are the ways of building an evaluative stakeholder relationship management system:
Conclusion
This paper can be concluded by saying that the internal and external business environments are very important for the betterment of the organization. The organization will look to get the best benefits for them by managing their stakeholders in a better way. The strategies for the internal growth of the organization have been discussed here as well. The ways the organization can improve their effectiveness and brand reputation will be highlighted in this matter. The stakeholder relationship management for Ngai Tahu Holdings has been discussed to understand how they can better their services indeed. The business sustainability for the organization has been focused in this paper.
References
Andriof, J., Waddock, S., Husted, B., & Rahman, S. S. (2017). Unfolding stakeholder engagement. In Unfolding stakeholder thinking (pp. 19-42). Routledge.
Bourne, L. (2016). Stakeholder relationship management: a maturity model for organisational implementation. Routledge.
Bourne, L. (2016). Stakeholder relationship management: a maturity model for organisational implementation. Routledge.
Fassin, Y. (2012). Stakeholder management, reciprocity and stakeholder responsibility. Journal of Business Ethics, 109(1), 83-96.
Forbes, L. P. (2013). Does social media influence consumer buying behavior? An investigation of recommendations and purchases. Journal of Business & Economics Research (Online), 11(2), 107.
Glasson, J., & Therivel, R. (2013). Introduction to environmental impact assessment. Routledge.
Grant, R. M. (2016). Contemporary strategy analysis: Text and cases edition. John Wiley & Sons.
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Mulliner, E., Smallbone, K., & Maliene, V. (2013). An assessment of sustainable housing affordability using a multiple criteria decision making method. Omega, 41(2), 270-279.
Parsons, R., Lacey, J., & Moffat, K. (2014). Maintaining legitimacy of a contested practice: How the minerals industry understands its ‘social licence to operate’. Resources Policy, 41, 83-90.
Soltani, A., Hewage, K., Reza, B., & Sadiq, R. (2015). Multiple stakeholders in multi-criteria decision-making in the context of municipal solid waste management: a review. Waste Management, 35, 318-328.
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