TASK1A

ORGANIZATIONAL STRUCTURE
An organizational structure outlines how tasks are assigned, coordinated, and overseen
in order to achieve organizational goals.
There are various types of organizational structure and they are as follows;
 Functional
 Matrix
 Divisional
 Network
 Teams
Due to the organization's several departments, Wheaton Precious Metals can be seen
to have a functional organizational structure from the structures above. For instance,
the marketing department focus solely on marketing activities like selling of gold, silver,
palladium, and cobalt. Only sales operations are conducted by the sales department,
whereas graders, high wall miners, dozers, and other facilities are made by the
engineering department.
Problem solving is entrusted to lower-level managers in the organization. As a result,
there is little centralization in problem solving.
There is little centralization in the company when it comes to delegation because lower-
level managers delegate their obligations to their subordinates.

PESTLE ANALYSIS OF WHEATON PRECIOUS METALS

POLITICAL FACTORS THAT IMPACT WHEATON PRECIOUS METALS
 The German government is under international pressure to comply with World
Trade Organization standards governing the gold and silver sector. (EMBPA,
2021)

 The present market policy is steady. Wheaton Precious Metals operates in

numerous countries and must design rules that address the demands of each
country's gold and silver markets. Given the recent spike in populism throughout
the world, I believe a similar trend might emerge in Germany, leading to even
greater market instability. (EMBPA, 2021)

 Regulatory Practices - Wheaton Precious Metals must comply with various

rules in each of the markets in which it operates. Germany and other developing
 nations have modified the regulations regulating market access and how
enterprises in the gold and silver sector can operate in their respective markets in
recent years. (EMBPA, 2021)

ECONOMIC FACTORS THAT IMPACT WHEATON PRECIOUS METALS

 Economic Performance of Germany - German economic production is

predicted to stay consistent over the next five to ten years, owing to government
expenditure, sustained demand based on disposable income, and growing
investment in new industries.

 Currency rate - Wheaton Precious Metals' investing objectives may be

influenced by the volatile German currency rate in the long and short term.
(EMBPA, 2021)

 Government action in the Gold & Silver industry, as well as the Basic Materials
sector, may have an impact on the performance of Wheaton Precious Metals in
Germany. (EMBPA, 2021)

 Wheaton Precious Metals may be able to invest more in previously untouched

areas as a result of Germany's increased trade liberalization. (EMBPA, 2021)

 Economic Cycles: Wheaton Precious Metals' performance in Germany is

directly related to the German economy's prosperity. Over the last two decades,
increased globalization and the exploitation of local resources to service
worldwide markets have been pillars of development. (EMBPA, 2021)

SOCIAL FACTORS THAT IMPACT WHEATON PRECIOUS METALS

 The media has a strong impact on German public opinion. In Germany, both
conventional and social media are quickly developing. This trend can help
Wheaton Precious Metals enhance product marketing and positioning. (EMBPA,
2021)
 Attitude towards health and safety – Health and safety attitudes are softening
as liberalization develops. Wheaton Precious Metals must avoid this approach
since the cost of failure in Germany is prohibitively high. (EMBPA, 2021)

 Attitude toward health and safety - The attitude toward security deteriorates as
liberalization proceeds. Wheaton Precious Metals cannot afford to fail in
Germany.. (EMBPA, 2021)

 Power structure -In Germany, income disparity is increasing. As a result, the

social power structure that has existed for 60 to 70 years has shifted. (EMBPA,
2021)

 The social hierarchy and conventions in Germany differ from those in the nation
where Wheaton Precious Metals is situated. Work must be done to develop a
local staff that is knowledgeable of cultural customs and attitudes in order to
better serve German clients. (EMBPA, 2021)

TECHNOLOGICAL FACTORS THAT IMPACT WHEATON PRECIOUS METALS

 The advent and use of mobile technologies is shifting consumer expectations for
raw materials. Wheaton Precious Metals must not only fulfill and control these
expectations, but also innovate to remain competitive. (EMBPA, 2021)

 Competitors of Wheaton Precious Metals use cutting-edge technology, offering

important insight into how competitors think and the future growth of gold and
silver business strategies. (EMBPA, 2021)

 R&D investment in Germany, both at the macro and micro levels. When there is
a creative dilemma, both public and commercial enterprises devote resources in
developing innovative solutions. (EMBPA, 2021)

 Supply Chain Partners Empowerment - Product lifecycles have been reduced by

technology, allowing vendors to produce new items more quickly. This puts
Wheaton Precious Metals' marketing staff under pressure to promote a wide
range of items in order to keep suppliers satisfied. Wheaton Precious Metals'
operational costs have risen. (EMBPA, 2021)
 Technology Maturity - The technology in the gold and silver industry is still in its
infancy, and most firms are working for new breakthroughs that will allow them to
acquire a greater market share in Germany. (EMBPA, 2021)

ENVIRONMENTAL FACTORS THAT IMPACT WHEATON PRECIOUS METALS

 Environmental rules also have an impact on product innovation objectives.
Rather than traditional value propositions, products are frequently built with
environmental norms and expectations in mind. (EMBPA, 2021)

 Extreme weather also raises Wheaton Precious Metals' operational expenses

since it necessitates expenditures to strengthen the flexibility of its supply
network. (EMBPA, 2021)

 Wheaton Precious Metals is also enthusiastic about sustainable energy. He can

benefit from current market trends. Germany offers financial assistance for
renewable energy initiatives. (EMBPA, 2021)

 The cost of running Wheaton Precious Metals is also rising as a result of ongoing
environmental agency inspections. (EMBPA, 2021)

LEGAL FACTORS THAT IMPACT WHEATON PRECIOUS METALS

 Germany's labor restrictions and their influence on Gold & Silver's business
strategy Can these circumstances be duplicated or improved on a larger scale?
(EMBPA, 2021)

 Although some nations follow international rules, business lawsuits might take
years to resolve in court. Wheaton Precious Metals should carefully consider the
normal duration of each case before joining the worldwide market. (EMBPA,
2021)
TASK2A
TECHNOLOGICAL CHANGE

 Using innovative technology, the company has been able to create an e-

commerce platform. These aid the company's online product sales. The
company was able to tie up with local customers due to online advertising,
which decreased the cost of reaching out to customers and entering new
market. (EBMPA, 2022)

 Technological change (TC) is the increase in achievable output for a given

level of input achieved via the processes of invention, innovation, and
dissemination. (EBMPA, 2022)

 Wheaton precious metal has made significant progress in the online sales
area of its company, improving client interfaces and delivering online-best
discounts to adequate segments of customers. (EBMPA, 2022)

 Wheaton posts videos or photographs of its products on social media and

does communicate with customers via messages or comments. The most
common social media platforms are Facebook, Instagram, Twitter, TikTok,
and others. This has given opportunities to customer to learn about the
company and has built brand faithful customers and promote customer
service. (EBMPA, 2022)

TASK 2B
REASONS WHY WHEATON IS RESISTANT TO THE CHANGE

 Lack of competence
Many businesses, including Wheaton Precious Metals, rarely acknowledge this
fear. However, there are situations when organizational transformation implies
skill adjustments, and the company worries that they won't be able to handle the
shift properly. (Rick, 2011)

 Change in the status quo

Resistance also results from how the organization perceives the change. For
instance, the organization believe the change will make them worse off are
unlikely to embrace it wholeheartedly. Similar to that, there could be
 (unspoken) animosity and resentment if the organization thinks the move
benefits another group, department, or person. (Rick, 2011)

 Fear of the unknown

Fear of the unknown is among the most prevalent causes of resistance.
Technological change (TC) is the increase in achievable output for a given
level of input achieved via the processes of invention, innovation, and
dissemination. (Rick, 2011)

 Not being consulted

There is less resistance to change if employees are allowed to participate in
it. This is because employees like to be informed, especially if their jobs
might be affected. Employees who are knowledgeable tend to be more
satisfied with their jobs than those who are not. (Rick, 2011)

TASK3A
Communication is the process of delivering and receiving information by written or
spoken language, textual or visual representations (infographics, maps, charts, etc.),
signs, signals, and actions. (Nordquist, 2021)

WAYS WHEATON PRECIOUS METALS HAS COMMUNICATED ITS CHANGE TO

THE INTERNAL STAKEHOLDERS
 Email and news letter
Wheaton Precious Metals relies heavily on email to interact with stakeholders
since it delivers information, material that can be rapidly tailored, and data on
open rates and commitment. Controlling communication with each stakeholder is
therefore highly effective. The corporation issues a weekly notice to stakeholders
to keep them up to speed on the most important news from the previous week.
Budget updates, images, weekly news, contact information, future milestones,
overall project timeline, and other information may be provided. (Tagabe, 2021)

 Presentation
The firm employs this strategy either offline or online. Going online offers the
particular advantage of allowing businesses to reach huge geographic areas
quickly and efficiently. When doing video presentations online, the corporation
may decide to employ software. The slides are saved when the online
presentation is finished and delivered to the stakeholders so they can refer to
them whenever they want. (Tagabe, 2021)
  Communication automation
One of the effective strategies the company employs to inform the stakeholders
of its transformation is sending out routine (e.g., daily) automated email updates
to each stakeholder. By automating BAU information distribution, Wheaton has
decreased administrative work and improved consistency. Using email
automation, organizations were able to customize their emails with dynamic
content and offer stakeholder information tailored to their requirements. When
information is presented in a visually appealing style, it is easier to comprehend.
(Tagabe, 2021)

WAYS WHEATON PRECIOUS METALS HAS COMMUNICATED ITS CHANGE TO

ITS EXTERNAL STAKEHOLDERS
Use several methods to communicate change, such as email, a website, or
social media platforms.
This recognizes the many ways in which people get information. The company
uses its Customer Community to inform customers about changes (such
technology change), but they also publish notices inside the product, leave
messages on the phone system, make email banners, and organize one-to-many
webinars — it all depends on the scope of the change for customers.
(Tagabe, 2021)

 Text Messaging
One of the ways the company connects with its suppliers and customers is
through text messaging. Since the business is a SME, text messaging is a
practical approach to swiftly inform customers about meetings, orders, delivery
dates, discussing the company’s change, etc. (Tagabe, 2021)

CONTENT AND TIME THESE COMMUNICATION TOOK PLACE

Content: Topics covered in within the business communication include ads,

customer relations, and consumer behavior.

Time: Communication took place in April, 2020, the first week of April but was
implemented on May,2021.

IMPACT OF THE CHANGE

This change has encouraged creativity, increased skill development, empowered
employees, resulted in greater business prospects, and enhanced employee morale .
TASK3B
HOW ORGANIZATION CAN COMMUNICATE WITH REMOTE WORKERS
 Email
Email is a great tool for interacting with remote workers. It also provides forums
for written document interaction. Because it is not interactive like SMS or video, it
allows people to reply to communications when they have time. (Teams, 2022)

 Video conferencing
There are several video chat and video conferencing options available to provide
employees with the face-to-face interaction they miss when working remotely.
Typing or emailing is inefficient compared to video communication. Video can
also provide managers with information on their employees' face expressions
and speech. (Teams, 2022)

 Recordings
Meetings, presentations, and video conferences should all be recorded so that
you can share them with absent team members and recall what was said. Most
video conferencing software choices allow for the recording and download of
meetings. Organize your recordings by subject and date in neatly labeled folders
for easy search and sharing. (Teams, 2022)
TASK 4A
The chart below shows the total assets and total equity of Wheaton precious metals
between the years of 2018 to 2021.
In 2018 their totals asset was $6.4million and decreased to $6.2million in 2019.
However, in 2020 their assets still decreased to $5.9million and increased dramatically,
reaching $6.2million in 2021. This means that the total asset of the company is unstable
throughout the years.
In 2018 their totals equity was $5.1million and increased to $5.3million in 2019. The
company’s total equity remained at $5.3million and the increase dramatically to
$6.3million in 2021. This means that the company has made progress in their total
equity over the years. (Yahoo, 2021)

TASK4B

WAYS WHEATON PRECIOUS METAL COULD HAVE BEEN FUNDED

 BUSINESS LOANS
For many enterprises and start-ups, traditional bank loans and overdrafts
continue to be a popular source of finance. When used appropriately, they offer a
quick and efficient method of financing the expansion of the company. However,
the company must conduct a thorough investigation of the different loan types,
their terms, and associated interest rates. If the organization already has a
business bank account, this option may be especially appropriate if the bank is a
good fit for the company and they can present a strong, well-supported business
 case. Before asking for a loan if the organization has not yet opened a business
bank account, it is wise to determine whether they are likely to be authorized
because being rejected might have negative effects credit score. (Nation, 2021)

 ANGEL INVESTORS
Rich people who donate money in exchange for a share of the company are
known as angel investors. While some investors work in teams, others work
alone. For companies that want to maintain complete control over their
operations, business angel investment is not a good option. (Nation, 2021)

 INCUBATORS AND ACCELERATORS

These initiatives are created to help ambitious startups scale and develop. For
equity in the new business, they offer coaching and a modest startup investment.
(Nation, 2021)

 VENTURE CAPITALISTS
These are investors who donate a significant amount of money - frequently more
than an angel investor - in return for a stake in the company. They frequently
seek to quicken the growth of the company in order to immediately see a positive
return on their investment. (Nation, 2021)

ADVANTAGES OF BUSINESS LOANS

 Flexibility
Once the small business loan has been obtained, the company has complete
discretion over how it is spent. When applying for the loan, you must provide a
business plan outlining how you intend to use the funds; however, once the loan
has been obtained, these plans may be altered and modified. (Cardless, 2022)

 Security
Taking out a small business loan with a well-known high street bank provides a
high level of security, owing to the long-standing reputation of lenders. This may
change as more online lenders enter the market and disrupters establish
themselves in the field of business finance. (Cardless, 2022)

DISADVANTAGES OF BUSINESS LOANS

 Amount
 A lender may approve the loan but not for the full amount in some cases. They
may decide that you do not require the entire loan amount to complete your
project, or that doing so would be too risky. It would be beneficial to plan ahead
of time for this possibility, devising ways to fund the planned expansion with a
lower lump sum. (Cardless, 2022)

 Application
A small business loan application is likely to be lengthy and time-consuming. In
addition to filling out the necessary forms for each lender, you must also provide
a business plan, a full history of your account (if any) with the lender, and
financial forecasts to establish your company's credibility. Traditional banks will
frequently take longer to make a decision than new lenders. (Cardless, 2022)

ADVANTAGES OF ANGEL INVESTORS

 Offer valuable knowledge

Since the majority of angel investors are experienced investors, they may offer
connections, advice, and guidance that will help your business expand quickly.
Their knowledge and assets might be of great help to the company's expansion.
(canals, 2019)

 Suitable source to get the business going

Angel investors are your greatest bet for startup capital. They often invest in the
hundreds of thousands of dollars, whereas he invests in the millions of dollars.
Venture capital allows entrepreneurs to raise extra funds. (canals, 2019)

DISADVANTAGES OF ANGEL INVESTORS

 Higher expectation
Higher expectations come with greater risk tolerance. Because they are in
business to make money, angel investors anticipate a return on their investment..
Most angels typically give between five and six years to distribute the reward.
There are times when there is a lot of pressure to produce outcomes. (canals,
2019)

 Lose control over own business

Angel investors typically participate actively in the decision-making process.
Furthermore, once they have the desired return, they will look for a way out.
(canals, 2019)
TASK 5A
WAYS THE COMPANY HAS BENEFIITED FROM USING SOCIAL MEDIA
CHANNELS

 Enhancing customer awareness and brand loyalty

Social networking technologies have made it simpler for Wheaton customers to
locate and engage with them quickly and easily. Organizations should engage
customers on social media platforms to boost customer retention and brand loyalty.
(Folio, 2021)

 Enhancing website traffic and ranking in searches

The rise in website traffic is one of the main advantages the organization has
experienced from using social media for business. Social media not only aids in
driving traffic to the company's website, but it also improves search engine rankings
as more people share the company's content there. The bulk of website traffic is
produced by sources other than search engines like Google, Bing, and Yahoo. The
company ought to be at the top of every statistic used by search engines to rank the
business. (Folio, 2021)

 Geotargeting content
The organization has found that using geo-targeting to deliver their message to a
particular audience depending on their location is an effective strategy.
Social media platforms like Facebook and Twitter offer features that have made it
possible for Wheaton to reach their audience with the appropriate content. (Folio,
2021)

WAYS THE COMPANY HAS BENEFIITED FROM FUTHER APPLICATION OF

TECHNOLOGY

 Greater Business Agility

Technology solutions enable Wheaton to stay adaptable and quick to react to
market change. The integration of different technologies promotes team
cooperation, which leads to improved product development. Faster product
launches, greater quality innovation, and broader product capabilities are
propelling the organization forward. (Group, 2021)
  Better Storage Systems
By updating its IT infrastructure, the firm was able to replace old, outmoded
systems with cloud storage choices. The cloud storage solution is dependable
and enables secure access to company data from anywhere in the globe. As a
result, their employees may operate remotely and obtain necessary data.
Furthermore, it reduces the need to run huge servers, which saves both space
and money. (Group, 2021)

 Data security Improvement

The company has been able to better protect its corporate information with the
use of improved data security technology solutions. Threats to network security
are at an all-time high, with the average small organization suffering damages of
$3.92 million. Tech assistance has assisted the business in developing firewalls
and encryptions that improve security. (Group, 2021)

References
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Available at: https://siliconcanals.com/news/startups/the-5-main-pros-and-cons-of-using-angel-
investors-to-fund-your-startup/
[Accessed 22 09 2022].

Cardless, 2022. Go Cardless. [Online]

Available at: https://gocardless.com/guides/posts/small-business-loans-advantages-and-disadvantages/
[Accessed 22 09 2021].

EMBPA, 2021. EMBPA PRO. [Online]

Available at: https://embapro.com/frontpage/pestelcoanalysis/7904-wheaton-precious-metals
[Accessed 10 09 2022].

Folio, 2021. Folio. [Online]

Available at: https://www.foliowebsites.com/blog/7-benefits-of-using-social-media-for-your-business
[Accessed 10 09 2022].

Group, 2021. The Ame Group. [Online]

Available at: https://www.theamegroup.com/8-benefits-of-technology-solutions-for-business/
[Accessed 22 09 2022].

Nation, 2021. Nationwide. [Online]

Available at: https://www.nationwide.com/lc/resources/small-business/articles/business-funding-
options
[Accessed 22 09 2022].

Rick, 2011. Torben Rick. [Online]

Available at: https://www.torbenrick.eu/blog/change-management/12-reasons-why-people-resist-
change/
[Accessed 22 09 2022].

Tagabe, P. M., 2021. INFRASTRUCTURE. [Online]

Available at: https://infrastructuremagazine.com.au/2021/08/13/7-ways-to-effectively-communicate-
with-your-stakeholders/
[Accessed 16 09 2022].

Teams, i., 2022. Indeed. [Online]

Available at: https://www.indeed.com/career-advice/career-development/remote-team-
communication
[Accessed 06 10 2022].

Yahoo, 2021. Yahoo Finance. [Online]

Available at: https://finance.yahoo.com/quote/WPM/balance-sheet?p=WPM
[Accessed 22 09 2022].