Comparing Nike and Bupa Aged care: Business Stakeholder Analysis Assessment Answer
Business Stakeholder Analysis
The purpose of the assignment is to focus on the two companies and identify their functional areas. The main aim is to compare and understand the industry-related comparison.
- The understanding and the in-depth analysis of the internal and the external analysis and creating a stakeholder matrix would help to understand the market.
- Through the chosen stakeholder and industries that can be drawn in context to the theories and understand frameworks.
- The chosen company Nike which is the leading company in sports and is known as the recognized premier sports accessories industry would be compared with the Bupa Aged care, which belongs to the aged care industry primarily serving in Australia.
- Finally a conclusion is drawn out of it.
The purpose of the assignment is to focus on comparing the two industry analysis. The comparison industries are the sports industry and the Aged Care Facility. For the in-depth analysis, the chosen companies would be compared, such as Nike a leader in the sports accessories would be compared with the Bupa Aged Care. Through this assignment, the comparison would be drawn on the functional areas, evaluating the internal and external stakeholders, along with an understanding of the interests and the implications would be analyzed. In the end, a conclusion would be drawn out of it (Walker, 2017).
Nike is known as a successful leader and so far, it has been leading in the sports industry. The company has successfully expanded its brands in athletics along with having the sportswear apparel which has contributed to the largest market share. Nike has created a positive influence over the athletes and has also helped in creating revolutionary changes in male athletes (Post, 2019). The brand Nike has sponsored and supported the large sports and athletics accessories, apparel and equipment industry. It was founded by Phil Knight and Bill Bowerman who were the industry pioneers in the sports industry. The company has established itself as the leading brands’ target market and has influenced the youthful especially the male athletes and influence the large purchase company’s sportswear. Nikes has so far positioned itself as one of the niche markets in the industry and the market share has expanded over the years.
While the Bupa Aged Care is known as one of Australia's leading private residential aged care which has provided the 70 care homes to the needy elderly people. The Bupa Aged Care has supported the range of care and provided a comfortable house to the 6,700 residents, which includes the residential, respite along with specialized dementia care. At Bupa Aged Care, the main aim is to provide preventative care and step up to reduce the need for hospitalization along with providing the model of care. It is important to note some of the homes have in-home also known as the Bupa GPs. The approach of the Bupa is to provide a model of care and to understand what is required to benefit the patient (Post, 2018).
Nike Functional area is defined as the brand and category which are leading in the sports, footwear, have a command in the designers and the other industries, The Nike Industry are the key specialists in tax and trade, and also integrate the customs logistics along with the engaging distribution manager. Due to the rapid functional areas growth, the company has commanded and expanded in the manufacturing business and it has helped to bring out the most important for Nike. The company is known as the profit maximization company and focus is on the key capturing the major functions and the divisions that can help to expand. (Micelotta, 2018). The company main focus is to cater to the clients and customers.
In the situation of the epidemic, as a customer would be bored depressed and at home, as the sports industry are the non-essential items.
BUPA GP’s main function is to serve the health care of the old age people. The company is known as the funded no-profit organization which has offered a wide range of services and health care plans to the old age people (Nabaweesi, 2018). The organization is known to offer quality services and the old age person orientation by providing the various customized plans and offering the medical practitioners help. The treatment, procedures and the approaches are patient-centric. The company has established the past 50 years and the prime focus is to provide better-customized health care quality plans.
In the situation of the epidemic, as a customer would be happy that the aged old industry would be technology collaborative and providing the better integrated plans and the procedures.
Internal and External Stakeholders and their roles
Internal Stakeholders of Nike
The internal stakeholder of Nike is the shareholders. Then subsequently there are the executives, managers who act as an active agent of the stakeholders to work over the needs of the company. The main target of Nike's shareholders is to expect a long term strong return on their investment. The company also closely focuses on the competitor’s (Marchica, 2017).
Internal Stakeholders of the Bupa GP
The internal stakeholders like employees, key people and the medical practitioners who work collaboratively and the engagingly with the multidisciplinary teams. The third party testing centers to deliver output.
External stakeholders of the Nike
The first group of stakeholders consists of suppliers and employees. Nike is a desirable client for the suppliers and it is highly demanded by them (Pizzo, 2018). Nike is actively available in the factories and the suppliers focus on the desired demand and the approach. The next is the employees who are the influential people to grow and command the market. Nike is being demanded by the customers, vendors and the various investors to explore the opportunities of buying new products, investing and expanding.
For example due to the epidemic, the government has introduced the polices, but the empoyees lack orientation and the customers have shifted to the health care equipment’s then the sports based equipment’s,
External Stakeholders of Bupa GP
The customers are the king and the old age people and the government funds are the close external stakeholders. The investors and the funding groups proactively look forward to invest, expand and operating centers. It also has some of the contractual employees and vendors who work in an independent manner (Jiang, 2017).
For example due to the epidemic, the government has introduced the polices, but the employees, staff and the customers have got an aided help to get better collaborative treatment and plans.
Nature and role of main stakeholder’s interests and implication of conflict interests
Stakeholders interests of Nike
Nike Inc. is a marketer of athletic footwear and apparel based in suburban Portland, Oregon. As the company is large and diversified, Nike is known as a wide range of stakeholders, which are both internal and external (Kim, 2020). The key internal include the shareholders, management, in-house employees and the wide range of endorsers. The external stakeholders are the suppliers, customers and the wholesale and the retailers, competitors, the community and the governments. Nike's balance sheet shows it is meeting the expectation of the shareholders who are actively investing in the company and also collaboratively to expand and even rise. For example, during the economic recession 2009, the share was trading at $ 42 per unit which was sold at $ 82 during the rising time. The stakeholders mainly compromise the employees, vendors, suppliers, and customers. To keep the stakeholders busy and innovatively engrossed the focus is on providing a stimulating work environment, good policies, programs, and the offered services, which helps in creating a self-actualization place. The managerial work environment is focused on the employees and the managerial talent and consistently offers a good environment but a lower compensation. Similarly for the nonmanagerial employees include the worker's degree and the worker- management, supervisors and the communication (Hsieh, 2019). During the epidemic crises, the leaders should be adaptive and open communication, to create awareness with the stakeholders, and the economic impacts are the shutdown operations and limited availability online as the customers would switch to health care industry.
Stakeholders Interests of Bupa Gp
The stakeholder interest of the Bupa GP is the patients and the approach to provide a customized plan to them. The Bupa GP has the internal medical practitioners who work in the multidisciplinary teams to provide a better plan to the old age people. For example, an elderly patient who is suffering from schizophrenia and the age-old illness such as diabetes or hypertension, the hospital would provide better-customized plans and care (Dalla Bernardina 2019). The main aim is to focus on the better care plans, treatments process and the policies that can help the internal employees, staff, the medical practitioners, nurses and the various other vendors engaged and within the system. During the epidemic crises, the leaders are more adaptive and innovative with the latest technology and opened the communication, to create awareness with the stakeholders. The economic condition has provided the added incentive to expand and the allow the more integrated quality of services to elderly patients and a better support system from the stakeholders.
Nike is highly influenced by its internal and external stakeholders' changes and approaches. For the company to expand and even overcome its competitors, the company needs to be adaptive and approach the market by keeping the stakeholder's interest (Blackman, 2019). Such as if the company is thinking to expand in a particular region, the company has to think innovatively to target the demographics, population and also design its products to capture the market. Nike exists due to its stakeholder's interest. Due to the constant demand from the suppliers, the company Nike knows what are the customer's key requirements are their needs and expands its function according to it. The company always thinks from the profit maximization approach and its employees, management and the shareholders are revenue and profit-oriented. The main target is to capitalize on the market to increase company sales and growth model. The stakeholders are the strengths of the Nike company, due to which the company can expand and strategize innovatively in terms of the products, services and offering the desired expansion plans (Avery, 2018).
The Bupa GP stakeholders are the old age patients and the provision of customized plans to the family and the patient. The organization offers the patient-centric plans to every age-old patient who has been admitted (Blackman, 2019). The organization's main aim to provide quality services through multidisciplinary teams. For every age-old patient who has been admitted, they, have a better plan and the orientation that can help to provide the optimum care and the approach. The organization's internal and external stakeholders are the employees, staff, regulatory bodies and the government approaches to provide a better feasible plan. The internal and external stakeholders are the key investors, funders, and stakeholders who can help the company to keep the valuable interest. The regulatory bodies also have to keep a check on the quality of the services and the better-integraed plans. the employees have to provide a better response system and the nurses play a vital role to monitor the patient's health and coordinate with the family and the multidisciplinary team. the multidisciplinary timely intervention to understand the patient's health and provide better treatment, process, and the better approach plans. The organization has a low-profit orientation and the main aim is to provide collaborative approaches.
Compare the industry it operates
Sports and the Sports Accessories industry
The sports industry is known as the biggest industry and it is expanding at a tremendous rate. The company is known as the innovating sports and recreational activities which is growing at a higher rate. It is due to the higher demand and the consumers are demanding high sportswear and accessories due to the awareness, demand and also requirements. The industry is also one of the competitive industry, with the high market exponential growth, increasingly expanding in the sports goods and accessories and the requirements (Avery, 2018).
The industry is robust and customer-oriented with the changing trends and integrating the newer technologies and adapting the trends. The sports equipment is readily available from retail stores, e-commerce and also providing the global sports equipment market. The industry is expanding and forecasted to reach $ 200 billion globally by 2021 (Blackman, 2021). Some of the industry competitors of the Nike to the Adidas, Puma, etc, and the sports industry caters to the Team Sports (Baseball, includes the Basketball, Football along with the Outdoor Sports (includes the Airsoft, along with the Paintball, includes the Camping and Exercise (Bowling, Cardio) and expanded globally.
The age-old industry is limited to providing quality and integrated services to its patents. The industry operates at different models in different countries. While in some of the countries the industry offers a patient-centric approach, the other industries offer a person-centric model. The age-old industry operated per the different theories and the related approaches. Such as if it is the for-profit organization the offered services would be different, technology designed and would be expensive for the patient services. The other is the nonprofit and the government-funded plans and the programs that can help to provide the low-cost plans for the treatments to the patient. The industry also collaborates with the interprofessional the multidisciplinary operating centers that can provide better-approached services to the other targeted demographics such as the dyslexia centers etc. The medical industry experiences a lot of obstacles in growth and also there can be a better-needed plan (Blackman, 2019) The medical industry, experience a lot of obstacles for growth; despite the need for change and how the practitioners and the healthcare workers who remain less resistant. It has to comply as per the regulatory bodies such as HIPAA etc. The industry involves volunteers and can be served through the medical marketing community that can provide online services and through the stores.
Politically The environment is stable but can change due to unpredictable circumstances. Such as due to the Coronavirus, the government has shut down the operation leading to the losses for the Nike stores. Nike sports are the nonessential items that have limited its supply and there has been a low orientation to the industry (Avery, 2018).
Due to the economic instability as of the currency fluctuations and the GDP momentum growth or decline has impacted the Nike industry. it has to lead to losses in the first two quarters of 2020 and it is predicted the industry would recover in some year's time.
Due to the Cornovirus suddenly there is a demand for the masks and the healthcare equipment rather than the sports and the related equipment. The social changes are innovatively designed which are as per the customer's requirements (Blackman, 2019).
The technology needs to be integrated and should be adaptive, such as due to the outbreak of the virus, the Nike industry does not have a business continuity plans and the customers would not purchase the sports aided equipment.
The company can be impacted due to legal changes and requirements. Such as the outbreak of the epidemics the company has to close down its operations and the limited sales or no sales are experienced worldwide. The company still has to switch over health care equipment and plans.
The environment is more conducive and the sports industry needs to have survival techniques.
Due to the rapid outbreak, the environment is unstable politically but the organization has integrated the COVID 19 testing and accesses the patient with better healthcare plans and treatments.
As the economically the environment is volatile and the economic conditions are unstable, that needs to provide the collaborative, low priced healthcare equipment and treatment plans.
As socially the patient and the person-centric approach are being followed. The age-old industry is more adaptive and needs to provide a better collaborative approach.
The age-old industry has provided technology-enabled rapid plans to test the patients and also treat them adequately.
The industry is legislative supported and needs to co-exist with the regulatory frameworks and the plans. The legal industry is supportive of the age-old industry to benefit and provide better treatment plans.
As the environment is rapidly changing, the industry is experiencing innovative, low cost and highly effective plans to treat the patient (Jiang, 2017).
To conclude, both the industries age old and the sports industry are the opposite industry in its operations and the approach to the market. The sports industry focuses on creating a product that can help to redefine the market in the fashion the sports industries. Nike has further expanded its functions and the values related to the sports industries capturing the cloth retail stores or and it has been actively been selling in the stores and through the online industry. The age old industry is focused on providing the customized based quality services to the elderly patient. Both the industry focuses on capitalizing the market on the global-based requirement. The organization's main motive is to collaborate and provide effective health care ideas that further offer private medical insurance, and it can help to further evaluate the old age person's critical illness cover and also access the income protection insurance. Due to the offering of a wide range of quality health care services, the organization has collaboration with the full range of treatments that are integrated through the various establishments.