Business Analysis - Red Gold Company - Case Study Example

Name: Course: Tutor: Institution: Date: Business Analysis Introduction As illustrated, the Red Gold Company CEO is facing a management challenge on the manner in which to handle the apparent media publicity on its low priced lobsters, a tag forming its key marketing campaign backbones. As such, Rouse and Sage (12) argued that one of the approaches through which to develop such an ideal strategy would be through a stakeholder’s analysis, evaluating the various organizational stakeholders and relevant challenge mitigation approaches across the respective stakeholders. In this regard, this research paper focuses on the attributes of each of the stakeholders evaluating their influence and control on the venture operations, as well as the organizational expected responsibility to the stakeholders. Consequently, the analysis develops are commendation on the ideal strategy for handling and serving the interests of each of the discussed stakeholder. The analysis table is attached as demonstrated below. Stakes Attributes Responsibilities Strategy Stakeholders Customers Interest, Rights Legitimacy, power economic, legal, ethical Collaborate Suppliers Interests, rights Power, urgency ethical Collaborate Media Interest power ethical Involvement Employees Interest, rights legitimacy, power economic, legal, ethical Involvement Monitoring Groups Interest power ethical Collaborate and monitor Suppliers Stakes: An evaluation of the Red Gold suppliers stakes evaluation establishes that the supplier have an interest in the organization in that they influence the amount and quality of lobsters supplied to the venture and consequentially to the respective consumers. Similarly, the suppliers have a right on the organization as they form part of the crucial organizational supply chain without which the venture profitability margin would decline. Attributes: An evaluation of their attributes establishes that the suppliers have power and urgency attributes respectively in that they enable the venture earn profits thus the power attribute, as well as the direct implications of their actions to the organizational operations and strategies serving as their urgency attribute justification. Responsibilities: Based on the above analysis, it is apparent that the organizational lobster suppliers hold a critical mandate on the venture success and thus, the management and organization at large are obliged to them ethically, through transparency and proper business practices, as well as through economic responsibilities by purchasing the supplied Lobsters at a reasonable price to enhance their socio-economic welfare for the long-term period posterity Strategy: In view of the suppliers’ stakes, responsibilities and attributes, this review recommends that the organization should establish a collaboration strategy. In this regard, through a supplier’s collaboration strategy, the suppliers would be involved in the entire organizational supply chain management process right from the supply procurement to the final consumer purchase. As such, such a collaboration approach will facilitate the development of reasonable supplies cots based on the selling profit margins, supply chain operational costs and market demand rates. Moreover, the collaboration would facilitate partnership and mutual benefits an approach that would facilitate and initiate collaborations in other areas such as partnering in social development projects among others. Through such CSR projects involvement, the supply base would not only be satisfied, but also improved for future Lobster diving success. Customers Stakes: The organizational consumers form a crucial part of its operations and success. Therefore, a stakes evaluation on the Red Gold customers establishes that they have both interest and rights in the organizational operations. On one hand, the consumers have a right to not only affordable Lobsters, but also of quality and value for money. On the other hand, the consumers have an interest in the manner through which such Lobsters are acquired. In this regard, they are interested in evaluating the ethical and legality of the supplied products and the production process. Attributes: An attributes focus on the Red Gold restaurant case study reveals that the consumers have a power on the organizational operations in that their demand on supplied products influence the venture profit margins and total sales. Similarly, they have a legitimate power as they possess the right to hygiene and quality food supplies form the venture protected by consumer rights across the USA States. Responsibilities: In pursuance to the discussed customers attributes and stakes, this review establishes that the Red Gold restaurant has an ethical responsibility to its consumers, on ensuring the use of best and ethical practices in the food processing process and activities, as well as a legal responsibility of ensuring the supply and sale of hygiene, safe and quality Lobster food products. Strategy: In order to ensure proper management of the restaurant consumers, as well as retain a stable demand and consumer loyalty bas, the venture should develop a collaborative strategy with its consumer base. In this regard, the strategy will enhance the inclusion of the consumer interest groups in the supply chain management as a tool to acquiring their feedbacks and products needs and as such enable the restaurant act proactively to such consumer base needs to increase their overall satisfaction. Media Stakes: A critical evaluation of the media in the case of the Red Gold restaurant establishes that with the venture serving in the food industry, the expansive public concern and interest, forms the justification for a media interest in the company. In this regard, a stakes evaluation establishes that the media is concerned and interested in the organizational operations through the supply chain as a public watchdog to safeguard the external and internal stakeholders’ interest through important and fair information supply across the market. Attributes: A further evaluation on the venture media attributes establishes that the media has the attributes of power and urgency on the venture operations. On one hand, the media publications such as the article presented to the CEO in the unethical Lobsters sourcing practice has the power to influence the venture brand negatively and as such reduce the current positive growth and high consumer base. Similarly, the urgency attributes is based on the spontaneous nature such negative or positive publications has on the brand image, if not countered appropriately. Responsibility: Although no legal or economic justifications oblige the venture to the media, the ethical market responsibility for honesty and transparency as well as fair treatment across the supply chain obliges the venture to liaise with the media. Strategy: The ideal strategy for the venture relationships with the media and for promoting a positive brand image is through involvement, where the public relations department would involve he media in all the activities such as in product testing, and suppliers appraisals among others. In this regard, such a media involvement would ensure the elimination of the negative practices speculation through the adoption of a transparent and accountable practice culture, where the media has access to all the relevant public information, likely to influence on the venture market perception and rating. Monitoring Groups Stakes: Although the monitoring organisations such as the venture managed by Raymond, monitoring imports onto the USA market have no legal rights on the functioning of the Red Gold restaurant, such ventures have interest on the third party implications on such organisations supply chain activities. As such, the human and environmental exploitation experienced while harvesting the restaurant Lobsters form key among the monitoring organizational interests. Attributes: A strategic evaluation on the venture monitoring groups establishes that key among their attributes is the power aspect. In this regard, the various organizational and monitoring organizations, though lacking a legal enforcement framework influence the industry consumers’ perception and loyalty trends. In this regard, reviews published by the monitor groups form a critical basis on which consumers base their purchase decisions. Responsibilities: In order to counter the discussed monitoring organizational stakeholders’ power on the consumers’ decision making model, the venture has an ethical responsibility to them. In this regard, the responsibility stretches up to and including allowing the monitoring organisations to access organizational operational strategies, as well as implementing all the actionable recommendations developed by the monitoring groups, as part of its continuous improvement strategy. Strategy: Based on the above discussion, this analysis establishes that the ideal strategy for handling such monitoring groups is through collaboration. As such, with increased collaboration, the venture would ensure that offered recommendations for improvement are promptly acted upon, to increase its ratings with the monitoring groups, consequently raising the consumer base perception ratings. Employees Stakes: Besides the Red Gold restaurant, employees serve as a crucial operational component in any of the industry organizations globally. As such, employees have imperatively the highest stakes. One hand the restaurant employees have an interest stake in the venture in that they influence the quality of produced Lobster foods as well as influencing the creation of a unique brand image and reputation in the market. Moreover, they have a legal stake in that their involvement and subsequent rights and compensation are protected under the employment and labor laws. Attributes: A further evaluation on the restaurant employees attributes establishes that they posses both the legal and power attributes. On one hand, they have a legal obligation to function and serve on behalf of the venture. Moreover, their services serve as a critical component in the organizational market success thus offering them a power attribute. Responsibilities: In regard to the high stakes and attributes that the employees have on the restaurant, the management has responsibilities ranging from economic, through legal to ethical. On one hand, the venture is economically liable to compensate the employees as a measure to ensure their economic well being, a responsibility legally enforced in labor regulations. Moreover, the venture has an ethical responsibility on the employees in that it should treat them fairly and with desired human dignity. Strategy: Unlike the other discussed stakeholders, the restaurant employees are directly involved across the organizational supply and value chain activities. Therefore, the ideal employ management strategy is through involvement in the respective practices through approaches such as employee empowerment and functions delegation. Conclusion In summary, the research paper establishes that the Red Gold Company has a wide range of stakeholders, all possessing unique attributes, stakes, and in turn varying organizational responsibilities and relationship strategies. As such, the paper lists the key restaurant stakeholders as the customers, suppliers, the media, employees and the monitoring groups respectively. In this regard, the research paper develops varied engagement strategies for the various stakeholders such as a collaborative strategy for the customers, supplies and the monitoring organizations, while recommending an involvement strategy for both the media and employee stakeholders due to their high stakes and attributes as well as intense organizational responsibilities to them. Consequently, this research paper asserts that with the adoption of the discussed strategies, the Red Gold restaurant will overcome the current challenge as well as similar related future challenges. Works Cited Rouse, William B, and Andrew P. Sage. Work, Workflow and Information Systems. Amsterdam, the Netherlands: IOS Press, 2007. Print. Read More