Meeting stakeholders needs Assignment Example | Topics and Well Written Essays - 2000 words

Meeting stakeholders needs - Assignment Example Stakeholders can be further subdivided into two groups: Internal stakeholders: people or group belonging within a business – owners, employees. External stakeholders: people or group belonging outside the business – debt holders, creditors, government, customers, community (BBC, 2013). 1. b. Diagram depicting the stakeholders in an organization (Source: BBC, 2013) 1. c i) Employees (internal stakeholders) in my organization are provided with bonus at the time of their monthly salary. They are also given performance based incentives/appraisals. In my field of work, where there is extensive use of chemicals, workers are given proper training as to how to use them safely and high quality equipments are provided to them in order to build a safe working environment. Customers (external stakeholders) are provided with good quality products and services, ensuring a timely and safe delivery of products. Customer feedbacks are constantly monitored. These are the tasks and respon sibilities assigned to us, as engineers, sales and shop floor operators of the organization. ii) Ensuring an effective communication between the internal stakeholders and the management is an important framework by means of which the former can convey their expectations and needs to the latter and through this the management extracts necessary detail to know the needs of the stakeholders in terms of quality, quantity, timeliness and cost. As far as the external stakeholders are concerned, keeping track of their feedbacks, as well as conducting timely surveys is one way of knowing their needs in terms of quality, quantity, timeliness and cost. 1. d A process involves set of steps and activities designed to perform a certain task in order to reach a specified objective. In other words it can also be described as â€Å"the way in which the abstract goal of putting customers first gets turned on its practical consequences† (Seethamraju, 2012, p. 537). 1. e. The difference between the cost of manufacturing a product and the amount received when that product is sold is termed as the value added to that product (Business Dictionary, 2013b). 1. f. In my field of work, re – works/repairs, defects, chemical waste, delays, poor material allocation, unnecessary material handling is considered as non value adding activities (Alwi, Hampson, and Mohamed, 2002). 1. g. i) I work for an organization which specializes in photo – etching. It is a process which produces complex metal parts with precise detail by adopting a tightly controlled corrosion mechanism (Precision micro, 2013). ii) Photosensitive polymers, metal sheets, stencils, chemicals, UV ray source are key inputs to a photo etching process (Leeweston1980, 2010). iii) The products derived from photo etching process are electronics packaging components, frets & harnesses, medical devices & implants etc. iv) Materials used as inputs (as mentioned above) are changed or used up by the process whereas the workforce involved/the activity involved in the process remains unchanged. v) The amount generated after the output product is sold less the cost involved in the production is the value added to the product. TASK 2 2.a.i. The different stakeholders involved in this incident can be classified into two divisions namely: Internal Stakeholders: The employees working for Swinton. External Stakeholders: The customer and the supplying insurance company. 2.a.ii. As