The Assignment in Business Planning
|1.||A business audit on Carter Transport Ltd||1|
|2.||The key issues for Carter Transport Ltd||5|
|3.||A mission and vision statement for Carter Transport Ltd||6|
|4.||The strategic planning for Carter Transport Ltd||8|
|5.||The strategic options for Carter Transport Ltd||10|
Suppliers are vital part of CT Ltd business. There is no reference in the case study who is the main suppliers of CT Ltd but it can be assumed that they are companies who provide nonproduction goods and services and the machinery parts that are fitted into CT Ltd vehicles. During the financial crisis at CT Ltd, investors are one of the most important stakeholders, especially if CT Ltd will expand in EU and start manufacturing of taxis. Nowadays communities are inseperable part of every organisation. They affect CT Ltd in different ways such as employment, taxes, environment, safety, government regulations, community organisations and residents and visitors of the UK.
For CT Ltd to be competitive in a market and profitable, it is necessary not only to define the key stakeholders but also to find who are the most powerful and essential stakeholders for the success of company. The useful technique is the Powers/ Inererest Stakeholder model. According to Mallin, Kelly, Al-Hawamdeh(2010), approaching this model Ct Ltd will benefit in different ways. It will help to get a support from the most powerful stakeholders and therefore improve the quality of project, attract more resources. Additionally, effective communication with stakeholders creates better understanding of the project and can reduce a risk of unplanned behaviours or reactions of stakeholders. On the other hand, Stonehouse and Houston (2013) indicate that there are some drawbacks of using this model. The main ones are that it can be subjective, does not show stakeholders attitude to the company and to be effective it needs to be updated on regular basis.
The first step in the Power/ Interest Stakeolder model is to identify who are the stakeholders of CT Ltd is. Second step is to prioritise stakeholders in four parts by their influence and interest of CT Ltd based on the criteria of high.low power and interested/less interested people. The next step is to assign stakeholders to one of four categories. Based on it CT Ltd can evaluate which of them need to be more informed, satisfied and monitored. Based on the above analysis and case study Table 4 shows the Power/ Interest Stakeholder model of CT Ltd.
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