Respond to this post, do not critique it, please.

PwC, or PricewaterhouseCoopers, is a multinational accounting firm considered to be one of the “Big 4” firms in the accounting industry. They are headquartered in London, UK (Campbell, 2019).

Like many other accounting firms today, PwC is in the maturity stage of its life cycle. There is not much that sets them apart from the other B4 firms – they all offer tax, audit, legal, and consulting. All four firms have grown as big as they can, with the last major change being the introduction of consulting services in the 70s. Their market share doesn’t really change; the only thing that affects market share is government mandates, like how the US requires companies to change auditors every five years (Campbell, 2019). 

Due to the fact that the company and industry have stagnated, PwC’s strategic intent is… vague. They claim their purpose is to “build trust and solve important problems”. Just like the other Big 4 firms, PwC is simply fighting to stay afloat rather than growing and improving. Lack of new clients, lack of new services, and declining number of accounting college grads to hire are all challenges the firm faces (Campbell, 2019).

Guerrero-Villegas says that there are different ways to define stakeholders. I like the idea of core, strategic, and environmental stakeholders. Core stakeholders are employees, customers, shareholders, and other people who make the SW in SWOT. Strategic stakeholders are the Opportunities and Threats. PwC has governments that determine regulation around tax/auditing, the stock market (as accounting firms are responsible for proving businesses on the stock market are healthy), and media groups who rely on accurate financial data. Environmental stakeholders includes everyone else, such as individuals who could be affected by an unstable stock market (Guerrero-Villegas, 2019).

From what I can tell, core and strategic stakeholders are the ones who have the greatest opportunity to sway PwC’s operations. Employees or customers, if they grouped together, could completely change the direction of the company through strikes or boycotts. Strategic stakeholders could cause market disruptions that positively or negatively affect PwC. Market disruptions are probably the only thing that could help PwC overcome its current challenges (Campbell, 2019).

References

Campbell, J. (2019). PricewaterhouseCoopers (PwC). Salem Press Encyclopedia

Guerrero-Villegas, J. (2019) The Relevance of Stakeholders in an International Context. Managerial Competencies for Multinational Businesses, (10)1, 196-214


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