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Assessment 3 Part B

This document discusses strategies for effective communication with stakeholders during implementation of business plans. It identifies several channels that can be used including newsletters, emails, websites, meetings, and posters. It also outlines procedures for implementing strategic initiatives such as complying with regulations, effective management, use of technology, and engaging employees. Key stakeholders like directors, customers, employees, and suppliers are identified along with their responsibilities. Metrics for measuring outcomes and identifying improvements are proposed, including reducing costs, waste, and energy usage.

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Shaily Garg
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65 views

Assessment 3 Part B

This document discusses strategies for effective communication with stakeholders during implementation of business plans. It identifies several channels that can be used including newsletters, emails, websites, meetings, and posters. It also outlines procedures for implementing strategic initiatives such as complying with regulations, effective management, use of technology, and engaging employees. Key stakeholders like directors, customers, employees, and suppliers are identified along with their responsibilities. Metrics for measuring outcomes and identifying improvements are proposed, including reducing costs, waste, and energy usage.

Uploaded by

Shaily Garg
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Assessment 3- Part B

Communication plan for involving all stakeholders in the implementation


process

The channel of communication which can be used in the implementation of business


strategies are:

1. Newsletters: The main purpose of newsletters is to increase the coverage of the


targeted audience. A company can put its information on newsletters and capture
ingredients of new possibilities by requesting visitors to subscribe. This is a low-cost
technique of communication and will be budget-friendly for advertising a business.
2. Emails: This method is mainly used to communicate between team members because
the information can be conveyed fast without any delay.
3. Letters: This can help a business firm to find a potential employer and communicate
feelings and emotions because it delivers only important or explicit information.
4. Websites: The website is the most powerful communication and marketing tool for a
business because it can be assessed by anyone globally and helps a business firm to
generate more deals by creating a good impression.
5. Meetings: Meeting whether physical or virtual prompts effective communication
because it provides opportunities to employees to brainstorm ideas, reinforce
strategies, celebrate success, etc.
6. Posters: A graphical synthesis of information or message makes communication
attractive and effective. Posters grasp the emotional, sensorial, and intellectual points of
the readers or viewers.
7. Logs: This helps in summarizing the activities and behaviours of all stakeholders that can
help to amend and implement the strategies of a business.

Procedures for implementing strategic initiatives

To implement strategic initiatives laid down by the business, it should follow the following
procedures:

1. Compliance with environmental regulations : A business must comply with the


environmental rules and regulations made by the public authority whether local or
national. The companies should strictly follow the environmental regulations which
govern environmental issues such as payment of environmental taxes, calling for public
investment, utilising subsidies, etc.
2. Management: The function of management is to effectively coordinate the functional
activities of the business. Plans should be made to layout management discussions and
decision-making to determine the resource and budget prerequisites which is needed
to implement strategic initiatives.
3. Technology, machinery, and equipment: Technology has the potential to enhance the
organisation’s success by managing projects easily, making use of web-based payment
systems, using backup software, improving customer services, measuring user
engagement, etc.
4. Labour: A company should engage its labour in a well-established network of
communication that laid down the complete blueprint of its strategic initiatives. This
can be done by holding regular meetings, tracking their process, sharing the company’s
goals with them, aligning with their vision, etc.

Benefits of employing life cycle management approaches

Following are the benefits of employing life cycle management approaches:

 A life cycle assessment (LCA) methodically evaluates different environmental impacts


of a product, movement, or process over its whole life cycle.
 The core standards around LCA are ISO 14044 and ISO 14040. The numerous
assessment divisions under LCA include natural resource exhaustion, climate change,
ecosystem corruption, and human health.
 LCA discusses all environmental releases, including GHG and all other material inputs
throughout the life cycle, and gauges all the probable direct and indirect impacts on
the environment.

Measures or benchmark indicators to identify the outcomes achieved

1. Reduction in cost of raw materials : When there is an elimination of unnecessary


expenses by actually cutting useless products and services, the cost of raw materials
automatically reduces. Cost reduction can be identified by comparing current expenses
with the previous expenses.
2. Reduction in Wastage: To ascertain whether the waste of a company has been
reduced or not, measure the amount of raw material used within a certain period and
the amount of raw material wasted in that same period. Ascertain the percentage of
wasted raw material by dividing both the variable and then comparing it with the
previous year's data of wastage.
3. Reduction in energy usage: Energy usage can be ascertained by monitoring the
average duration of a power cut and consumption by industry. Any drop in energy
consumption data raises the question that whether your performance has been
improved or it is just because sales were down or staff was on a holiday.
4. Utility bills: Utility bills can be ascertained by measuring the average labour cost per
equipment, average maintenance cost, machinery and equipment unavailability,
numbers of complaints received, stabilization in rates, and outage time per event.
Reduction in utility bills is an indicator that the desired outcomes are achieved.

Key stakeholders and responsibilities

A stakeholder’s primary role is to assist a company to meet its strategic objective by


contributing their experience, skills, talents, and perspective to an undertaking. The key
stakeholders in a company are:

1. Directors: Directors are generally answerable for the administration of the company and
exercise all the potential of the affiliation.
2. Customers: The purchases made by the customers help the company in continuing its
operations. The primary object of the company is to fulfil the necessities of a customer
and get benefit directly from their support.
3. Employees: Employees are the creators of products and services in a business, and the
quality of the work has a direct influence on the purchases of the customers. Also, by
providing quality work, the employees get financially benefitted from the company’s
continued performance and success.
4. Shareholders: The main role of the shareholders or investors is to keep the company
financially viable and help it to achieve its project by providing sufficient funds.
5. Suppliers and vendors: They contribute resources, materials, expertise to the
companies, that can help the company to meet customer and shareholder's needs by
selling benefits directly from the revenue generated from sales.
6. Society: The society in which a business is situated is viewed as a significant stakeholder
because it assists the company’s financial speculation through work creation.

Processes to collect and analyse feedback once the policy has been
implemented

1. Customer surveys: Surveys can be both anonymous and non-anonymous. This method
is adopted to gather feedback from the stakeholders while keeping their identities
confidential. The person filing the survey is able to express his opinion about the
feasibility of the policy.
2. Questionnaires: This method includes the blend of both open-ended and close-ended
questions and is used for getting quick feedback from people. It contains a set of
questions that are related to the policy and its implementation.
3. Feedback forms: Feedback forms can be made in the form of surveys or questionnaires
which collect the opinion of a person about the company’s approaches. The main aim
of the feedback form is to identify the areas of improvement and work on them.
4. Group forums: This can be conducted either physically or virtually where users engage
with each other to share their ideas, ask questions, provide answers, share feedback
about the company’s policies and procedures.
5. Meetings: Mainly this method is used to get honest feedback from employees. A
company should conduct meetings only to get the constructive criticism and opinion of
employees about the profitability of a policy.

Plan for continuous improvement using Deming’s PDCA cycle

PDCA (Plan-Do-Check-Act) is a four-stage approach for consistently improving products or


services, and for settling issues. It involves methodically testing potential solutions,
evaluating the outcomes, and implementing those which have displayed to work.
The PDCA Cycle gives a direct and effective methodology for solving problems and
overseeing change. It empowers businesses to foster speculations about what is required to
change, test these speculations in a constant feedback loop, and gain valuable information
and learning. It advances testing enhancements on a limited scale prior to refreshing
company-wide procedures and work techniques. The PDCA cycle comprises of four
components:
 Plan: Identify the issue, gather applicable data, and comprehend the problem's root
cause, foster speculations about what the issues might be, and choose which one to
test.
 Do: Develop and administer a solution; settle on a measurement to check its adequacy,
test the expected solution, and measure the outcomes.
 Check: Confirm the outcomes through prior-and-afterward data correlation. Study the
result, measure viability, and conclude whether the speculation is supported or not.
 Act: Document the outcomes, illuminate others about process changes and make
proposals for future PDCA cycles. If the solution was fruitful, implement it. If not, tackle
the next issue and repeat the PDCA cycle again.

Act Plan

Check Do

New efficiency targets in the subsequent periods/phases

1. Responsible utilisation: Responsible utilisation means using assets and energy


proficiently. The obligation lies in the hands of everyone – manufacturers, distributors,
retailers, and consumers. This can be done by: Encouraging carpooling or riding a bike
to work, utilising rerouting and logistics to minimize fuel consumption, using less
packaging in a product, etc.
2. Responsible waste management: Responsible waste management falls under the
control of all person and company, that generates squander. It implies that waste is
properly segregated and handled accordingly. This can be done by: assigning coloured
recycling bins for different wastes, assessing all waste, and figuring out a way to move
it up.
3. Advocacy: It is the demonstration of supporting a cause or proposal. Advocacy can be
an incredible way for companies to impact genuine change in environmental
sustainability. This can be done by: Educating stakeholders about corporate
sustainability, educating consumers about capable utilisation, donating to non-profit
organisations that support sustainability, etc. 

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