Customers of Sainsbury’s want high quality products, they want good customer service and they want reliability, safety and a range of products. This stakeholder could influence a business by not going to the business anymore as they may have had a bad experience and choose another business who they feel may be better at delivering a good overall customer service. A businesses objective for customers will be for the businesses too train staff to give great customer service and to make sure suppliers bring stock on time so the customers are pleases with the staff and the variety of stock and makes them more likely to be a lifetime loyalty customer. Also Sainsbury’s want to be the “most trusted retailer, offer great quality products at fair prices …show more content…
and be for the customers whenever they need us”. Employees of Sainsbury’s want Purpose for example they want to get money, they also want Goals for example they want to make 250 customer transactions per month and flexibility for example if they can’t do certain hours the business will let them arrange different hours for that week, competitive wage for example the employees want to be on similar wages to competitors so if they work at Sainsbury’s they want to be on a similar wage to Tesco and Asda, bonuses for example the employees want bonuses for working for Sainsbury’s so they may want money off their shopping or vouchers to theme parks etc., and job security for example they want a guarantee that in six months’ time there job won’t be gone.
This stakeholder may influence the business as if they give bad customer service they are going to turn away customers who will go to other competitors where as if there polite and well-mannered they are going to please the customers who are then more likely to come back. Businesses objectives for employees are for the business to train them so they please customers and to increase the customer loyalty. A business objective of Sainsbury’s for the employee is to “provide a great place to work” and they say there success is down to the hard working determined 161,000 staff that work in the 1200+ stores across the …show more content…
UK. Suppliers want business to pay on time; they want realistic bulk orders, regular orders and a good relationship with a partner store. Suppliers can have a massive influence the business as without the stock the business can’t sell anything and if the stock delivery is late then the store might not give out as much variety in the brands and items as they usually do which makes the store look bad. One of Sainsbury’s business objectives for suppliers is “to work closely” with them and an example of them doing this is Sainsbury’s are investing 1 million pounds to British farmers which will make Sainsbury’s able to adopt leading edge technologies and be at the forefront for new technologies. Also Sainsbury’s business objectives for suppliers is “at Sainsbury’s we expect strong social and environmental standards from suppliers and support those suppliers that need practical help and support in implementing more sustainable practices”. Owners want profit; they also want a reliable hard working workforce. Owners have a big influence also as without the investment and the time taken to overlook the business and make sure its meeting its weekly, monthly and yearly goals the business will go downhill as it won’t have the management organisation the business needs to keep pleasing customers and making profit making themselves richer. Also the owners need to invest in training the staff as without the training the staff cannot run efficiently and provide the good customer service the customers want. The owner’s business objectives are to be “The most trusted retailer where people love to work and shop, making customers’ lives easier, offering great quality and service at fair prices, serving our customers whenever and wherever they want and finally getting to know our customers better than anyone else as we will be there whenever and wherever they need us, offering great products and services at fair prices. Our colleagues make the difference, our values make us different.” Trade unions expect the business to give them access to the employees to make themselves known, more people to join and want good support and advice. Trade unions have an influence on the business as they try to protect their members for example they go into store to check health and safety conditions and to ensure the company treat their staff according to the law. Also they aim to improve their members pay and conditions as one worker goes up to their manager for increased pay their not going to get it but if your part of a trade union and 50-100 people request increased pay your more likely to get it. A business objective for trade unions is to “provide a safe and hygienic working environment, bearing in mind the prevailing knowledge of the industry and of any specific hazards. Adequate steps shall be taken to prevent accidents and injury to health arising out of, associated with, or occurring in the course of work by minimising, so far as is reasonably practicable, the causes of hazards inherent in the working environments”. Local and national communities want businesses not to be intrusive.
It also expects the business maybe to give something back to them for example in Cannock they pay for the park across the road to be maintained for the community. They also want workers to be friendly and when coming out of work late at night to try to be as quiet as possible to not disrupt them and expect fair prices so that they don’t feel like they are being exploited. These have a huge influence on the business as if the local and national community’s do not like the business then they are going to go to other competitors so the business need to give something back to the community as you want a business that isn’t just providing yourself a service, you want a business that will go that extra mile that entices people to come back to the store for example the asda store in Cannock was given the planning permission to build on the terms that they maintained and renewed the park opposite them for the community so then the community feels they’ve got something back for the fact that a massive ugly store has been built in front of them. Sainsbury’s objectives for local and national communities are Community
investment. “Donate over £400 million to charitable causes. Government want businesses to create jobs provide important supplies and pay their taxes. The government have an interest in businesses as they want the correct tax, they want their tax on time and finally they want to see an increase in job opportunities because this reduces unemployment. Sainsbury’s objectives for the government are “to understand issues more fully and make better decisions, we talk regularly with customers, colleagues, NGOs and the Government and its agencies”. The government have a big influence as they can change the rules for example the amount t of taxes they need to pay which changes there whole profit/loss margins and they will need to then increase product prices if the taxes go up which changes the whole set up of the business. I believe suppliers to be the most influential stakeholder as without the stock and the stock on time and at a fair price there isn’t going to be enough variety on the shelves in store and so customers won’t always be able to find what they want which means they become annoyed at Sainsbury’s being unreliable and go to another competitor. They are more important than any other stakeholder because without the stock they have nothing to sell so it doesn’t matter whether there are customers or not because there will be nothing to sell to them so they wouldn’t need the customers in the first place.
In this assignment I will discuss about key stakeholders who influence the purposes of two business, the business I have chosen are Tesco and Oxfam. Also, I will be talking about interest owners, customers, suppliers, employees, trade unions and employer associations have in the business. Another point I will be talking about is why business must consider local communities and pressure groups when operating their business.
When Waitrose build new stores they ensure they are in the heart it the local community. They do this to make sure they create local employment for that community. This may be paramount when a county, town or village has a low employment rate, thus Waitrose helps this by creating new employment. Another part to the local communities are the local charity and other organisations that they sponsor. In every Waitrose store they sponsor three local organisations, which the customers can choose to support, by voting green tokens given at the till. From their website they state that ‘Each month every Waitrose branch donates £1,000 (£500 in Convenience shops) between 3 local good causes that you choose.’ This local community scheme is called ‘Community
Stakeholders are individuals and constituencies that contribute, either voluntarily or involuntarily, to its wealth-creating capacity and activities, and who are therefore its potential beneficiaries and/or risk bearers1. There are several different types of stakeholders associated with a corporation, and those stakeholders can have different views and opinions on what corporation's goals should be and how they should be running. I have interviewed three different stakeholders of Staples Inc., an employee, a customer and a stock holder, to find their relationship between them and the firm. Then, I will use this information to suggest how the firm should proceed and continue to have a better and more beneficial relationship with its stakeholders.
to fill a book, they were able to exchange the book for cash or other
Hence, the stakeholders which are described as those who are affected by the organisation performance ,actions and duties and those actions includes employees, clients, local community and investors as well. The theory of stakeholders also suggests that it is the responsibility of firm to make sure no rights of stakeholders are dishonoured and make decisions in the interest of stakeholders which is also the purpose of stakeholder theory to make more profit and balancing it while considering its stakeholders (Freeman 2008 pp. 162-165). In the other words organisation must also operates in a more socially accountable approach by carrying out corporate social responsibility as (CSR) activities.
Stakeholders are those groups or individual in society that have a direct interest in the performance and activities of business. The main stakeholders are employees, shareholders, customers, suppliers, financiers and the local community. Stakeholders may not hold any formal authority over the organization, but theorists such as Professor Charles Handy believe that a firm’s best long-term interests are served by paying close attention to the needs of each of these stakeholders. The modern view is that a firm has responsibilities to all its stakeholders i.e. everyone with a legitimate interest in the company. These include shareholders, competitors, government, employees, directors, distributors, customers, sub-contractors, pressure groups and local community. Although a company’s directors owes a legal duty to the shareholders, they also have moral responsibilities to other stakeholder group’s objectives in their entirely. As a firm can’t meet all stakeholders’ objectives in their entirety, they have to compromise. A company should try to serve the needs of these groups or individuals, but whilst some needs are common, other needs conflict. By the development of this second runway, the public and stakeholders are affected in one or other way and it can be positive and negative.
Tesco has been particularly successful because of its powerful brand. It has a reputation for value, low prices and for being customer focused. Its brand and associations have helped the company to expand into new sectors and markets. Tesco has also been strong in public relations, advertising and building profile in catchment areas on a local level. This local approach to marketing appears to be a key driver for success. Tesco has a good range of products, including own label products. It seeks to provide excellent customer service, and ensure high levels of customer satisfaction.
The food and staples retailing is an increasingly competitive industry. The market giants (competitors) are Coles (owned by Wesfarmers) which has 741 stores across Australia and plans to add 70 m...
Regarding to organizational stakeholders, there are three main groups of stakeholders: customers, employees and investors. The company attempts to link stakeholders’ needs and expectations to the company’s goals. For customers, the company must treat them fairly and honestly. For employees, the company needs to treat them fairly, make them a part of the company and respect their needs. For investor, managers should comply with the accounting procedure, do not manip...
The manager will have to feel comfortable with their employees and have a good understanding of them and decisions that they are making so that he/she doesn't fall behind on what the business is doing. They will need contin... ... middle of paper ... ... communication within stores would make the employees feel more part of a team. If sainsburys were to relay less on post-it notes stuck on walls and actually speak to individuals about issues in the store I think employees would feel happier.
Stakeholder can be defined as “any group or individual who can affect or is affected by the achievement of the organization’s objectives”. This theory focuses on wider aspect rather than only focusing on just the shareholder. Stakeholder theory is a fundamental theory about how business works at its best and how it could work. It is concerning on the value creation and trade on how to manage a business effectively.
Stakeholders are interest of an individual or groups that directly or indirectly affected by the organisation’s activities, policies and objectives (Henry Frechette, 2010). Stakeholders can be divided as internal (managers and employees) and external (shareholders, customers, and suppliers) (BPP F9). Different stakeholders may have common interests or conflict interests with company. Company board members or management must take care about stakeholders’ interest. They can’t make the decision based on their own interest or their relation with others organisation. Conflict of interest will arise when interests of organisation act in concert with managers’ personal interests or interests of another person or organisations, (Anon, no date).
With the rise of the economy, consumers have become more and more knowledgeable on selecting their favourable product as a result the organization cannot focus on what it sells but on the side focus on what the customer wants to buy.
A good location can have a significant impact in attracting potential customers, thus improving sales. Especially in the case of a supermarket, location is more important than other business sector. Customers never drive long distances to only buy daily necessities. Moreover, favorable location gives efficiency to company’s logistics because unnecessary moving cost can be cut down. So, we can say that it is important factor for the successful operation of the supermarket.
Customer Relationships is about building a relationship of trust and convenience. A customer wants the company they are working with to be intuitive. To know their needs before they do. They want to feel respected, they need to believe you are honest and have integrity. This relationship breeds comfort and familiarity and causes the consumer to continue to do business with your company. This relationship that is built develops a personal relationship, like a friendship and it is one that the consumer cannot get from the store down the road and it is that personal touch of sincerity, of knowing their needs, of servitude that will turn them into lifelong branded customers.