Who Are the Stakeholders in the Case and What Are Their Stakes? What Challenges, Threats or Opportunities Do These Stakeholders Pose?

1. Who are the stakeholders in the case and what are their stakes? What challenges, threats or opportunities do these stakeholders pose?

Stakeholders are groups or entities linked, either directly or indirectly, to a company’s survival. These include customers, suppliers, employees, shareholders, media, trade associations, and special interest groups (Cullen, 2011). Homeplus has held a commitment to stakeholder engagement and participation in the creation and implementation of policies, goals and strategies. Homeplus’ 2010/11 Sustainability Report reads, “A company’s ability to adequately meet the standards of sustainability vitally depends on open communication with all its key stakeholders. Stakeholders refer to all interested parties of Homeplus, who have actual and potential impacts on our current and future business operations” (page 27). Homeplus identifies 10 stakeholders, they are: local communities, nation-industries, customers, staff, suppliers, the media, investors, think tanks, non-governmental organizations (NGO’s), and small retailers (page 27). In addition to the stakeholders Homeplus has identified, the host country and society in general should be considered as stakeholders. These 12 stakeholders have different and distinct stakes in the Homeplus company. Adapted from the 2010/11 Homeplus Sustainability Report, their interests include: Local communities are concerned with contributions to the local economy and the expansion of social contribution activities. Nation-industries are also concerned with contributions to the local economy as well as shared growth, reducing energy use and tracking climate change. Customers are concerned with strengthening food safety and hygiene, environmental-friendly stores, local contributions through culture centers, contributions to revitalizing the local economy and strengthening personal information security. The staff is concerned with upgrades to training, providing a vision for growth, and developing a corporate culture with trust. Suppliers are concerned with providing win-win growth, fair trade, a fair working process and communication. The media is concerned with shared growth with suppliers, environmental activities, and modernizing the distribution system. Investors are concerned with bringing continuous financial results, and expanding the size of the corporation. Think tanks are concerned with obtaining food safety, strengthening social responsibilities and win-win growth. NGO’s are concerned with responses to climate change, strengthening social responsibilities and personal information security. Small retailers are concerned with facilitating development of the local economy and expansion of practical support for small businesses. The host country is concerned with environmental protection, following local laws and the impact on local social institutions and small businesses. Society is concerned with raw material depletion and ethical