Responsible Business: Theory and Practice – Individual Essay1500 wordsNote: This assessment is subject to confirmation by the external examiner. Therefore, details may still change until final approval has been obtained.Task: Using the arena model analyse the ‘conflict around neonicotinoid based pesticides’ from the perspective of a agrochemical company – possible choices BASF, Bayer, Syngenta.Coursework Specification Guidance1. Familiarise yourself with the materials around ‘The Business of Bees’ and the arena model. The focus should be on the critical analysis, i.e. make sure you understand why the arena model was used in the paper for stakeholder conflicts, what the model is designed to achieve and how it can address the stakeholder conflict around pesticides and bee decline. You should look for material published by the different stakeholders that make up the arena.2. Identify the arena(s) in which the conflict takes place. This includes identifying the stakeholders and their motivations and interests. You should look for academic, industry or NGO sources that discuss the conflicts as well as the interests and motivations.3. Identify a company in the agrochemical industry that is involved in the conflict. In the process you should analyse company materials, as well as additional materials targeted at the company written by other stakeholders, e.g. NGOs or investors. You should look for academic, industry or NGO sources that discuss the role of the agrochemical company of your choosing.4. Based on the previous steps you should now create conflict arenas from the perspective of your chosen company, that will enable the company to manage its stakeholder conflicts. For your analysis pick two arenas that you determine as most relevant to the company. You should look into the two papers on your reading list for week 3 – regarding the Ash vs. BAT conflict and the Salmon farming conflict. The arena approach is applied to stakeholder management in these two papers. Use this as the basis for your modelling.5. Presentation of your case study. You should present your case study in a clear and coherent way. Your case should include an explanation of the issue at hand, a justification of why the company chosen is relevant, an analysis of the company’s stakeholder conflict arenas – focus on the two arenas that you picked in (4).