Analysis of Tesco's Stakeholders
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Tesco is a shopping mart where we can purchase our essential things. It can also be define as a global grocery and general merchandising vendor headquartered in UK. sir Jack Cohen founded Tesco in 1919, when he began to sell extra food stuff from a stall in the East End of London. Tesco first appeared above a shop in Edgware in 1929 and since then the company has grown and developed.Tesco is the third largest retailer in the world measured by income Tesco private limited corporation (PLC) is the major super mart in UK wihich has 29% of shares in market copmapred to other companies like adsa which has 17% shares in market. PLC is private limited company which has limited millstone in UK and not allow to offer its shares to public.Private. A public company does not much care about profit as it is providing the goods or service for the public. Public companies will not have to worry whether making profit or not because they are providing a service to the public.
Purpose of tesco is to make money and invest and sale quality products.and provide reliable materials to consumers. Why do Tesco exist? Tesco exist to provide the goods and services to people earning money and profits from business .it provides jobs for workers Tesco provides daily need Products that customers demand like food, clothes, Home electircs,Sound and vision ,Bed and bath, Furniture and kitchen, Clothing and jewellery, Toys and gift, Baby and toddlers, Garden needs.products and services supplied at profit , at cost and below cost Tesco is getting profit by introducing new brands and also selling goods at lease.tehy are getting profit on products by supplying them to other countries and at whole sale. they can sell products by introducing off packages to customers at low prices for a specific duration which means to making them as a regular customers to gain profit in future. and also out of seasons sale which shows selling at low cost.
Objectives of TESCO As TESCO is one of UK leading food retailers, with 519 stores England, Scotland and Wales.105 stores in France operated by Catteau and 44 in Hungary.Tesco meets the need of customers by low prices, product quality, choice, facilities and services to avail from home.Tesco is developing the talents workers through sound management and training practices,. Tesco maintaining its relationships with supplier by quality and price criteria. Tesco is co operating on making of food in industry .Provides good environment and protection.
Ownership can be defined as Employee or executive who has the principle responsibility for a business, or projectThe public sector in this type of ownership only british people can get ownership in tesco to gain profit. Sole Traders controlled and financed by one person. least expensive form of ownership to organize. Sole proprietors receive all income generated by the business to keep or reinvest. Partnerships contains 2 -20 members who share their assets and profits from business. Public Limited Companies (PLCs) shares to the general public it contains Minimum of 2 but no maximum number of shareholders Private Limited Companies contains financed and controlled by between 2 and 50 shareholders. Franchises .A business which has bought the right to trade under established namein different cities.e.g mcdonalds,KFC. Co-operatives It contains Groups of people who enter business and share the benefits sustomers Co-operatives, Producer Co-operatives, Worker Co-operatives. Charitable trust for helping famines and collect funds from rich .and also receive funds from GOVT.
P2 The Stakeholders of each Organization
Stakeholder is a person, group or organization that has direct and indirect position in organization. it is affected by organization's rules, polices and decisions. internal stakeholders. They work inside the Tesco e.g employee, owners.
- pressure groups
- trades unions
- local and national communites
Stakeholders in business organisation:
Key stakeholders in a business organization
Customers. These are the people who buy products from shops ans to save lives of needy people. customers want reliable products and at low prices.
Employees includes directors, owners, managers
Directors: They have a direct financial 'stake' in the business because they have taken a risk by investing in the business
Managers: They are responsible for obtaining goals creating atmosphere of work among workers of Tesco, each managers has handles accounting, law marketing, sales production
Suppliers: they supply products to Tesco at commercial level. They supply goods to different branches. They always be in touch with tesco to supply products.
Owners: they are the business, assets holder, and pays the workers.pressure groups not put up candidates for election, but seeks to influence government policy rules.
Trade union's function is discuss pay and working conditions and creates discipline among workers Employee Associations they set up pay packages and employees for resolving argument.
- Board of Directors
- Finance department
- Marketing sales department
- Production department
- Finance manager
- Marketing manager
- Area sales manager
- Sales staff
- Production manager
- Production supervisor
- Production workers
- Human resource department
- Human resource manager
- Clerical assistant
- ICT department
Board of director is a group of people nominated by the owners of a business who have decision-making authority, voting authority specific responsibilities which in each case is separate and distinct from the authority and responsibilities of owners and managers of the business entity.Finance department is to keep control over the use of funds in the organisation i.e. the funds are using according to the planing and accord with the organisational objectives.Finance manager participates in preparation of financial reports, direct investment activities, and implement cash management strategies.Accountant helps managers to make reports, investments (savings), and tax implementations.handles profit loss details,cost production,financial statements.
Marketing sales department function is to understand user's requirments/needs and fulfil their needs exactly with high- quality goods and respond to a customer enquiry correctly. Sales managerSell products and services to the customer in order for the business to keep on running and become the number one retailer.they make products available for future customers and existing customers.Production Tesco is to make sure that the goods of Tesco are produced on time and is in a suitable quality for the customers.and maintain furniture.Production manager manages all kind of goods should ready at customers needs.and at given time and at exact time and standard.Production workers made goods according to the user demands and works exactly in uniform way.Human resources aim to make sure that businesses keep hold of good experienced staff and let go of poor staf they work internally in business Human resources aim to make sure that businesses good experienced staff and let go of poor staf They deal with the workforce, planning, recruitment, training and paying issues.ICT (International Computers and Tabulators) Its main function is to check that all data of Tesco is stored properly. all computer software are working, all business websites are accessing.(tescopls.com)
P4 Tesco Mission and values
Planning, calculating and the passing of information form rival is called mission. Tesco's mission is to earn profit and sale pure goods. and to sale goods online by using website tesco.com and public dealing in good manner to make regular customers And create significance for customers to earn their lifetime reliability.
Values of an organization defines it standards.they show Respect to each others
Try to give their best
Want to be energetic and fit.
Tesco strategies to become are successful international trader , To become famous business party. To be good food provider To put community at the heart of what we do.
Objectives Tesco increasing customers by offering buy 1 get 1 free.Tesco offers best reasonable prices. Tesco meets the need of customers opinions regarding advance, product quality, choice, store facilities and service Tesco is the main profitable investment with progressive return. Tesco is developing the talents of its people through sound management and training practices, while rewarding them fairly with equal opportunities for all. Tesco maintaining its relationships with supplier (product makers) on strict quality and price criteria. Tesco is co operating on making of food in industry. Provides good environment and protection
Strategic Planning Tesco is try to make shopping easy and comfortable.Seeking to low price to help people and so they spend less.Taking simplicity and importance to complicated markets.
Smart objectives of Tesco
Specific Tesco wants to make profit its sale
Measurable Tesco is leading in business by its major shares in market
Achievable tesco achieve its goal by increasing its customers and making profits
Tesco has achieved it by good quality products
Realistic tesco is third big company in world
M1 Point of Views of different stakeholders
Directors the business through meetings with top managers and managing stretegies for progress of tesco.Employees should work hard on making good quality products that will make profit and also increase pay and conditions of Employees and also helpful for safety, health and pension arrangements.
Customer's views are to getting latest brands and saving by low price products.
D1 Evaluate the influence different stakeholders exert in one organization
Stakeholders stand for great influence in organization. Developing countries employees make fashionable clothes and brands to exert little power over their employer's to give them jobs and getting new products.
Owners are the organization's main stakeholders and gain profit and pays all bills and wages to workers and remain profit shares with shareholders
directors pay attention to make strategy and decisions regarding organization Government influences by law rights to change behaviour of environmental or health and safety. Employees exert main role in business profit or loss. When the economy is active they work hard and make extra products.
Customers also create great influence within an organization. By purchasing products from store or online at low prices.
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