Unit 5: Understanding Stakeholder Expectations
QCF level 4: BTEC Professional
Credit value: 6
Guided learning hours: 26
Unit aim
The aim of the unit is to give learners
an understanding of business stakeholder expectations and the methods used to develop
and improve business offerings to stakeholders.
Unit introduction
This unit will help learners understand
that stakeholders are individuals or organisations that shape the operation of a
business and/or are affected by the actions of the business. For example, if a retail
chain decides to open a new store in a town centre location then the business itself,
local government, construction companies, financiers, transport operators, customers
and environmental groups are some of the stakeholders who have an interest in the
development.
Primary stakeholders are those who
are directly involved with the economic transactions of the business such as suppliers,
employees and customers. Secondary stakeholders are not directly involved with the
economic transactions of the business but have an indirect link to the business
and its decisions. These stakeholders would include the general public, community
groups and the news media.
Learners will understand that the
interests of stakeholders may overlap. The retail store’s shareholders want to see
growth and trade unions support the creation of new employment opportunities. However,
the interests of stakeholders may also conflict. A new store may cause traffic congestion
and retailers in other locations will see trade drawn away by any new retail development.
Businesses will want to manage and reconcile the interests and expectations of different
stakeholders. For example, a developer may be given permission to build new homes
on condition of also building a new school and a leisure complex. Improving offerings
to stakeholders and satisfying their varying interests as far as possible will ultimately
support the achievement of business objectives.
Learning outcomes and assessment
criteria
In order to pass this unit, the evidence
that the learner presents for assessment needs to demonstrate that they can meet
all the learning outcomes for the unit. The assessment criteria determine the standard
required to achieve the unit.
On completion of this unit a learner
should:
|
Learning
outcomes
|
Assessment
criteria
|
|
1 Understand organisational stakeholders
|
·
discuss the differences and similarities
between organisational customers and organisational stakeholders
· describe the features that differentiate primary
and secondary organisational stakeholders
|
|
2 Understand primary and secondary stakeholder
expectations
|
· compare the differences and similarities between
expectations of primary and secondary organisational stakeholders
· evaluate methods of measuring achievement of primary
and secondary organisational stakeholder expectations
|
|
3 Understand methods to develop and improve
offerings to organisational
stakeholders
|
·
analyse current offerings to organisational stakeholders
·
propose an improved offering to organisational
stakeholders
· evaluate the impact of improved offerings to organisational
stakeholders
|
Programme of suggested assignments
The table below shows a programme
of suggested assignments that cover the criteria in the assessment grid. This is
for guidance only and it is recommended that centres either write their own assignments
or adapt Excel assignments to meet local needs and resources.
|
Criteria covered
|
Assignment title
|
Scenario
|
Assessment method
|
|
1.1, 1.2
|
Stakeholders
|
You have been
asked to contribute to the Business Journal a series of three articles that provide
a
stakeholder analysis
of businesses
You should select
suitable businesses to investigate and report on:
the differences
and similarities between
organisational
customers and stakeholders
the differences
and similarities between primary and secondary organisational stakeholders
|
An article describing
the
different
business stakeholders
|
|
Criteria
covered
|
Assignment
title
|
Scenario
|
Assessment
method
|
|
2.1, 2.2
|
Stakeholder Expectations
|
You have been
asked to contribute to the Business Journal a series
of three articles
that provide a
stakeholder analysis
of businesses. You should select suitable businesses to investigate and report
on primary and secondary stakeholder expectations
|
An article describing
primary and secondary stakeholder expectations
|
|
3 .1, 3.2, 3.3
|
Enhancing Stakeholder
Engagement
|
You have been
asked to contribute to the Business Journal a series of three articles
that provide a
stakeholder analysis
of businesses. You should discuss the methods used to develop and improve offerings
to
organisational
stakeholders
|
An article describing
methods used to develop and
improve offerings to organisational stakeholders
|
100% Plagiarism Free & Custom Written,
Tailored to your instructions