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The satisfaction of customers can be achieved through service relationships. In the present world it can be seen that the customers are eager to draw a conclusion of the relationship that they maintain with the organizations. The proper use of service relationship by the organizations can result in providing better services to the organizations. This report will shed light on the strategic issues that are faced by the organisation and their relationship with the stakeholders. It is important to analyse the service relationship in an efficient manner so that the organizations can overcome their strategic issues faced by them (Mellahi et al., 2016). To explain this in a proper manner, Meriton has been taken in to account. The company is a chain of luxury hotels that can be taken on rent or hired by the customers and even provides financial assistance to the consumers. The main aim of the report will be to analyse the relationship between the company and its stakeholders so that the issues can be highlighted and proper strategies can be developed. The macro environment has also been analysed for the company, which creates a greater impact on the company ("About Meriton | Meriton", 2018).
Meriton was established in the year 1963 and created a significant impact on the landscape of Australia. The company has been responsible for developing and designing buildings and apartment in Australia and owns some of the tallest residential towers in places like Sydney, Gold Coast and Brisbane. The company has been responsible for developing more than 70,000 apartment along the eastern coast of the country. The company offers property management, leasing and sales services to the customers along with luxurious accommodation to its customers. They provide high-quality and sophisticated apartments to the customers so that their goodwill is maintained within the country. The company is responsible for promoting comfortable and convenient living to the customers through the developments that it has been doing in its construction.
The company also offers financial services to its customers. The Meriton property finance helps the customers in purchasing the apartment at a loan with a lower rate of interest. It offers the customers a contract of 80 percent to purchase the property on a fixed rate of interest for two years against the loan. The competitive rate of interests are compared by the company and the loan is provided without a mortgages and there is no fee on valuation and brokerage as well ("About Meriton | Meriton", 2018).
They are the most important group that helps in providing support to the organization so that it can function in a proper manner. The support of the stakeholders play an important role in the smooth functioning of the organization. It is not possible for the company to exist without the investment that is done by the stakeholders. With respect to Meriton, the business may get affected without the proper participation of the stakeholders. The major stakeholder of the company are the shareholders who invest their finances in to the company so that it can function in a proper manner. The employees and the customers also form a major part that helps the organization in developing its business (Missonier & Loufrani-Fedida, 2014).
The fate of the company depends primarily on the support that is provided by the stakeholders so that the corporate responsibility within the business can be achieved. It is therefore very important in analysing the relationship between the stakeholders and Meriton. The use of the stakeholder theory will help in analysing the external and the internal stakeholders that are present within the business (Yang, 2014).
The company maintains a good relationship with the employees, as it manages more than 4500 employees that are present within Australia. The company also provides compensation to the workers at the rate of 25 percent, which shows that the welfare of the employees are taken in to account by the company. This results in increasing the relationship between the employees and the company so that they can work in an efficient manner within the company. It is important for the company to take care of the employees, as it results in the creation of value within the market (Tantalo & Priem, 2016).
They are considered to be stakeholders, as they provide the support and guidance to the employees so that they can work in an efficient manner. The absence of the leaders within the organization will make it difficult for the employees to work within the organization. A company that is large such as Meriton, it is important for the leaders to play an important role so that the employees can be guided in a proper manner to achieve greater levels of production. It is therefore important for the leaders within Meriton to provide motivation to all the employees that are present within the company so that it can result in the best interest for the employees (Sierra-Garcia, Zorio-Grima & Garcia-Benau, 2015).
They are an important part of the company who are responsible for the success of the company. The managers of the company helps in taking important decisions so that it can be beneficial for the company and it can help in gaining a competitive advantage in the market. The decision can include the rise in the insurance rate of the employees so that they can be motivated and work in an efficient manner. The managers play an important role, as they control the company within the operating market so that the company does not face any risks. It helps the company to position themselves at the top within the Australian market so that its businesses can be better than the competitors (Tantalo & Priem, 2016).
These stakeholders help in increasing the rate of production without which the company may cease to exist in the market. An important duty of the company is to see that the suppliers are loyal towards them so that the materials can be procured at a better rate. The suppliers of the company consist of those who are able to meet the sustainability standards, provide financial health and protect the data that is stored within the company. The company makes deal with businesses, which has a common interest and are able to share the concern of the company. This results in providing an opportunity to the company to meet the demands of the customers by increasing the loyalty among the suppliers (Barrett, Oborn & Orlikowski, 2016).
The society plays an important role for the company so that it can continue its business in a proper manner. The sustainability of the business by the organization can be judged by the opportunities that it creates for employment within the society. A company like Meriton has to take the society in to consideration, as it employs more than 4500 employees. It helps the society by creating employment opportunities so that the sustainability of the organization can be maintained in a proper manner (Esmail, Moore & Rein, 2015).
They play an important role due to the laws and policies that the organization has to follow within the country. The survival of the organization depends on the policies and procedures that they are bound to follow. The company operates in Australia and has to adhere by the policies that are laid down in fair Work Act, 2009 and the Corporation Act, 2001. These laws are the summary of the governmental policies that the organization has to follow so that the business can be conducted in an efficient manner within Australia. The rate of taxes that are imposed by the government also needs to be assessed under the Income Tax Act, 1997 (Barrett, Oborn & Orlikowski, 2016).
They are the most i9mportant stakeholders of the company, as it helps the business to expand. The company needs to increase the level of satisfaction among the customers so that it can continue to be in operation within the society. A service company like Meriton has to maintain the satisfaction level among the customers by providing them with the better products and services. The company provides innovative financial services to the customers such as it provides insurance to the harbour components that are present with the customers since the country is surrounded coastal areas and coastal experience provide livelihood to many people within the country (Thaler & Levin-Keitel, 2016).
Most of the organizations have to build up a strategy so that it can continue its business within the society. The strategies that are formulated are done based on the analysis of the external and the internal environment, which plays a major role in influencing the business. The main strategy that is present within the company is to secure the interests of the employees and the customers. Nevertheless, there are certain issues that are faced by the company that prevents it to formulate effective strategies. This is due to the fact that they fail to analyse the external and the internal factors that affect the business. Therefore, it is important for the company to analyse its external environment and the customer portfolio (Herremans, Nazari & Mahmoudian, 2016).
The portfolio of the customers is a tool to identify the loyalty towards the company that is present in the current market. This technique results in mapping the potential customers that can help the business of the company to grow. Proper use of market research and system of marketing information helps the company in mapping the customers (O’Riordan & Fairbass, 2014). It is important for the company to group their customers so that proper services to each groups. The customers of Meriton can be grouped as follows:
These customer groups help the company by providing them with an opportunity to grow within the market. Maintaining a proper profile of customers will result in evaluating the external environment as well. It is necessary for the company to analyse the external environment so that it can help in identifying the threats that may affect the business (Crown & Berggren, 2014). This can be achieved by using the PESTLE analysis so that strategies can be formed in a proper manner.
The political case within the country is that most of the businesses receive proper support from the government. The government provides support to the companies in certain areas so that the business can be sustainable in the country. Meriton receives support from the government in a proper manner and the government has increased the popularity of the company by allowing them to construct buildings in better locations (Diesal, 2018).
Most of the employees in the current world are focussed on the nature of work that are given to them so that it can be done in a proper manner. This has increased the disposal income in the hands of the people. The company will be able to use this, as most of the people will be looking to invest in financial services so that the company can pay them for the services. This will present a better opportunity to Meriton to increase its customers in the market by offering better services (Lim & Greenwood, 2017).
The country has a young population and mostly are aged between 17-25 years. The company can render services to the parents who are owning cars by providing them insurance and other rental facilities to stay in their hotels. This will help the company in coping up with the changes that are happening within the society (Salloum et al., 2017).
The cost of transaction can be reduced and sales can be increased with the help of latest technologies that can be adopted by the company. It will be easy for the company to communicate with its customers so that the services can be provided to them in an efficient manner. The financial services that are provided by the company can be done over the internet so that a wider network of customers can be reached (Lee & Seo, 2016).
The environment of the country provides opportunity to the business to expand its operations. A major advantage of Meriton is that the company does not harm the environment and is responsible for construction of parks as well. The company maintains sustainability within the environment so that it can provide assistance when there is a loss of environment (Salloum et al., 2017).
The laws that are made up helps in increasing the employability level among the people so that the company can operate in a proper manner. The company makes an effort in overseeing that they do not commit any fraud, which may reduce its growth in the market due to the loss of reputation among the customers (Shepherd & Rudd, 2014).
Therefore, at the end of the analysis of the customer portfolio and the external environment, it can be stated that the strategies used by the company are simpler in nature. The company is based on the four pillars that helps them in achieving the success in the market. The four pillars are inclusive of recruitment of the people, which results in achieving operational excellence in the market. This results in gaining better strength with respect to finances and the trust of the stakeholders as well. These four pillars help in providing support to the organization so that they can be profitable in the market. Nevertheless, there can be certain issues that may affect the growth of the organization within the market (Tseng & Hung, 2014).
The strategic issues that the company may face is with respect to the fluctuation in the economy on a constant manner that may prevent the customers in investing in the services of the company. This may cause a negative effect on the profit levels of the company. Additionally, the population of the country is not large, which may hamper in employing the best people within the company. Therefore, the issues that are present in Meriton may cause a greater impact with respect to the growth of the company (Abdel-Maksoud et al., 2015). However, it is necessary for the company to gain the trust of the stakeholders so that the business can be maintained in a proper manner and they can be dominant in the market.
It is important for the business to maintain a better position in the world, which can be done by managing the personnel in a better way. For the company, it can be noticed that proper care of the people are taken who are involved within the operation of the company on a daily manner. The company employs more than 4500 people and provides them with Worker’s Compensation Insurance so that they are secured while working in the company. Around 30 percent of the workers are provided this insurance policy by the company. Therefore it can be suggested that the employees are taken good care by the company, which allows them to be successful in the market (Soutschek, Sauter & Schubert, 2015).
The support that is provided to the staff helps the organization to grow within the market. The goal of the company is to provide support ion a constant manner so that the diversity among the employees can be maintained in a better way. This is due to the fact that the service of the company is available to different people so that a diverse work force can help the company to be successful in the market. The company hires a diverse work force and provides them proper services so that they can grow within the organization (Tseng & Hung, 2014). The table that has been created highlights the management of personnel by the company.
| Number of employees | 4500 |
| % of female workers | 49% |
| Salaried workforce | 96% |
| Full time equivalents | 95% |
| Managers | 15% |
| Part-time employees | 10% |
| Employees with permanent contract | 96% |
| Average age of the employees | 35.7 |
| Employee turnover rate | 9% |
The analysis of Meriton helps in understanding the bond that is shred with the employees, as the turnover rate of the employees is very less. The compensation that is provided to the employees allows them to be motivated within the work force so that they can work in an efficient manner for increasing the goodwill of the organization in the society. The employee effectiveness within the company can be understood in a better manner by reviewing the performance of the company in the previous years. The performance and growth of the employees can be mediated though proper analysis of the earnings made by the company (Calabretta, Genser & Wijnberg, 2017).
The financial statement of the company that was analysed showed that the annual turnover for the company has risen by 50 percent, which indicates that it has earned almost AU$2 billion. The assets of the company increased to AU$7.3 billion in 2014 from AU$6.1 billion at the end of 2013. This shows that there has been a rise of 21 percent. Thus, it can be stated that the increase in the margin of profit for the company was due to its ability of managing the assets in a proper manner. The annual revenue of the company increased to 29.5 percent than the previous year, which shows that the company is sustainable within the society. These evidences have shown that the organization has been making proper improvements in its line of businesses ("Meriton - 2014 In Review | Meriton", 2018).
The stakeholder analysis along with the analysis of the external environment and the issues that were present in the Meriton have shown that the company needs to develop specific areas so that it can help in its further development. These aspects can only be developed after a thorough evaluation of the external and the internal factors that affect the business of the organization. It will help the company to expand on a further scale and provide proper levels of satisfaction to the employees. The increase in the number of employees along with the motivation that is provided to them has helped the organization to be successful in the market. The present performance of the company can be acknowledged with the new strategies that has been implemented within its working system.
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