Ashaab Nurul
P2,M1,D1
Ashaab Nurul
P2/M1
For this task, I will be identifying the different stakeholders of my chosen
businesses and the influence they have on the purpose of the two businesses
which are Tesco and my local Off License. I will also explain the points of view
of the stakeholders themselves and how they’re looking to influence the
chosen businesses aims and objectives.
Tesco and Off License:
Customers:
Customers are an important stakeholder for the business Tesco and the Off
License. Their interest in the business revolves around their desire for general
products of good quality with reasonable prices to cater to their varying
budgets. This influences the purpose of Tesco as if customers aren’t satisfied
with the quality of products and service, there will be less purchases made
from their company, resulting in customer and profit loss. Also, if the local
community cannot rely on their local off license, it is unlikely the shop will
attract any non-local customers meaning it is highly likely to go into decline.
Owners:
The Owner of both businesses would ideally want their store/s to operate as
effectively as possible in order to maximise the profit acquired. This means
they would have to manage and oversee the business to ensure that
everything is functioning as it should to a good quality such as staff
performance, interest fluctuation etc. If this was to be neglected, the business
would gradually decline from arising issues and conflicts that have not been
overviewed by the owner. As a result, the owner prefers all aims and
objectives of the enterprise to be as realistically high as possible. This would be
an easier job for the Off license owner as the business is of a smaller scale but
the consequences remain the same.
Staff/Employees:
The staff of the businesses also have a significant impact as stakeholders. Their
interest also lies within the company operating successfully and this is due to
the fact that their wages depend on it, including other potential factors such as
promotions and bonuses if they perform efficiently and achieve the set
objectives. If they were not to do their jobs properly or the business was not to
P2,M1,D1
Ashaab Nurul
P2/M1
For this task, I will be identifying the different stakeholders of my chosen
businesses and the influence they have on the purpose of the two businesses
which are Tesco and my local Off License. I will also explain the points of view
of the stakeholders themselves and how they’re looking to influence the
chosen businesses aims and objectives.
Tesco and Off License:
Customers:
Customers are an important stakeholder for the business Tesco and the Off
License. Their interest in the business revolves around their desire for general
products of good quality with reasonable prices to cater to their varying
budgets. This influences the purpose of Tesco as if customers aren’t satisfied
with the quality of products and service, there will be less purchases made
from their company, resulting in customer and profit loss. Also, if the local
community cannot rely on their local off license, it is unlikely the shop will
attract any non-local customers meaning it is highly likely to go into decline.
Owners:
The Owner of both businesses would ideally want their store/s to operate as
effectively as possible in order to maximise the profit acquired. This means
they would have to manage and oversee the business to ensure that
everything is functioning as it should to a good quality such as staff
performance, interest fluctuation etc. If this was to be neglected, the business
would gradually decline from arising issues and conflicts that have not been
overviewed by the owner. As a result, the owner prefers all aims and
objectives of the enterprise to be as realistically high as possible. This would be
an easier job for the Off license owner as the business is of a smaller scale but
the consequences remain the same.
Staff/Employees:
The staff of the businesses also have a significant impact as stakeholders. Their
interest also lies within the company operating successfully and this is due to
the fact that their wages depend on it, including other potential factors such as
promotions and bonuses if they perform efficiently and achieve the set
objectives. If they were not to do their jobs properly or the business was not to
