Business Coursework

Business Studies Student’s name Department: University Course: Course Code Instructor’s name Date Task 1: Stakeholders' Influence on Board Decisions Internal Stakeholders: 1 Employees: Employees in the two factories facing closure will be directly impacted and may oppose the decision due to potential job losses. The Board should consider offering severance packages, job placement assistance, or relocation opportunities within the company to address their concerns. Maintaining transparent communication throughout the process is crucial to preserving trust and morale. Additionally, employees at the Leeds Head Office, who are expected to take on increased roles in sales, customer liaison, production planning, and technical support, may have mixed reactions. Some may welcome the new responsibilities and career growth opportunities, while others might feel overwhelmed by the additional workload and need further training. Providing adequate training and support will help these employees transition smoothly into their new roles. 2 Managers: Managers of the closing factories will likely be concerned about job security and career prospects. To address these concerns, the Board can offer managerial positions in the remaining operations or within the new logistics and pattern-cutting sections at the Head Office. This approach can help retain experienced personnel and ensure continuity in management. External Stakeholders: 1 Suppliers: Suppliers to closing factories may experience a loss of business. The Board should negotiate new terms with these suppliers to potentially include them in the outsourced production processes or other business areas. This can help maintain important supplier relationships and ensure a steady supply chain. 2 Customers: Due to the shift in manufacturing locations, retail brands like Boden, Jaeger, and Whistles may have concerns about product continuity and quality. The Board must ensure consistent quality and reliable supply to maintain strong relationships with these key customers. Additionally, new customers of the RobeBeau brand, which will be sold exclusively online, will need to be targeted through effective marketing strategies to build brand awareness and trust. Task 2: Financing the £100,000 Investment Sources of Finance: 1 Retained Earnings: Utilizing retained earnings, which amount to £90,000 according to the financial statement, would be cost-e...