Unit 1, exploring business, assignment 1
Full assignment, 8 pages -DISTINCTION grade achieved.
Assignment title- features contributing to the success of contrasting businesses.
INTRO
In this assignment I will be investigating two contrasting businesses and the features
contributing to these businesses. The businesses I will be discussing are Waitrose (private
sector) and UNICEF (public sector)
D.1- EVALUATE THE REASONS FOR THE SUCCESS OF TWO CONTRASTING
BUSINESSES, REFLECTING ON EVIDENCE GATHERED.
WAITROSE
Waitrose (originated as Waite, rose and Taylor) was brought to market in 1904 by its founders
Wallace Waite, Arthur rose and David Taylor. The business started off as a small growing business
and quickly rebranded to its household name Waitrose in 1908 after David Taylor left the business.
Waitrose quickly took to market and continued to grow its product range and expand. When the
First World War broke out in 1914 Waite began to sell as a wholesale and supplied to the army in
Catterick North Yorkshire. However, rose was injured and eventually stood down from ongoing
health issues in 1924. [1] In 1928 Waitrose received a royal warrant from King George 5 th. This meant
Waitrose directly sold groceries to the royal family. This created brand awareness as this influenced
potential customers to shop here as this was seen as a royal seal of improvement which encouraged
customers to shop here to gain a competitive advantage and an overall higher market share –which
Waitrose currently has 5.1% this allowed Waitrose to grow and expand. In 1937 John Lewis took
over Waitrose as Waite was looking to retire but wanted someone who would maintain the high
standards Waite strived for which lead to the takeover partnership. From this point on Waitrose
added the word partnership to its brand name making it Waitrose and partners symbolizing the
partnership with John Lewis. From the early 1970’s Waitrose currently maintained 50 chains and due
to the growing demand in its products Waitrose invested in a larger distribution center which still
exists today.
Waitrose ownership is a partnership with John Lewis & partners I introduced in the first paragraph.
This was formed in 1937. This is Britain’s largest business with the most partners (employees) with a
figure of 81,500 staff currently. The purpose of the business is to sell food goods such as bread. The
USP of Waitrose is that it has the royal warrant which in itself opens up doors for lots of possibilities
as this influences many people to change their shop from Mark’s and spencer’s to Waitrose. As well
as this Waitrose is known for its high quality and unique range of goods. This works as an advantage
because Waitrose sells many products that cannot be found at its competitors. However, this puts
pressure on Waitrose to keep being innovated and coming up with new products to sell as well as
competitors such as Mark’s and spencer’s might attempt to copy the ideas Waitrose has which takes
away their USP. Therefore, Waitrose needs to ensure that the quality of the product is perfect so
that will priorities for some people over price.
UNICEF
, UNICEF was founded in 1946 in New York. They rely on donations in order to carry out its aim of
protecting children’s rights. It was originally created to help children who were badly affected after
the First World War particularly in lower income countries. Through the donations received UNICEF
uses this for the education sector, other welfare services and health care services. In 1965, UNICEF
was awarded a Nobel peace prize for its work supporting and fighting for the rights of a child. Since
1996 UNICEF programs have been guided by the convention of the rights of the child (1989) [2]
The ownership type UNICEF possesses is they are owned by trustees’ as well as the government.
Currently UNICEF has 190 countries which it advocates for children’s rights. They are also supported
by voluntary funds although two thirds are supported by the government. The purpose of UNICEF is
to protect the rights of the child as well as providing emergency food etc. for children affected by
natural disasters and other emergencies.
M.1- ASSESS THE RELATIONSHIP AND COMMUNICATION WITH
STAKEHOLDERS OF TWO CONTRASTING BUSINESSES USING INDEPENDENT
RESEARCH.
Stakeholders are individuals who have an interest in the business these can be internal and external.
WAITROSE
Waitrose has many stakeholders and it is key Waitrose continue to engage with their stakeholders
and successfully feed them information in order to keep them interested in the business to benefit
the business itself. A way this can be done is through the use of social media. The advantages of this
are that social media secures currently over 3 billion active users. This means that it’s a faster and
easier way of communication which creates the opportunity for free advertisement as the business
message can be effectively spread with little costs worldwide. However, rival businesses for Waitrose
such as Marks and spencer can easily steal customers as businesses need to constantly be updating
their content to keep customers interested as this could lead to loss of repeat customers which will
give Mark’s and spencer’s a competitive advantage.
Internal stakeholders are people within the business who have an interest. In Waitrose’s case
include owners, managers, suppliers and employees. Employees are stakeholders within a business
as Since the John Lewis Partnership; Waitrose refers to its employees as partners and have a closer
relationship to the brand as it is seen as the partners own Waitrose. Therefore, at the end of every
year the profit which normally go to shareholders (Waitrose/John Lewis don’t have shareholders)
will be divided between its workers which give them an annual bonus. This keeps Workers motivated
to work harder and ultimately improve their service to Waitrose such as better customer service etc.
Another stakeholder is suppliers. For them it is key to maintain a long-lasting relationship as this is
an important factor contributing to the success of Waitrose. This is because without suppliers
Waitrose will not be able to deliver goods to its customers which will cause them to go to
competitors which will mean Waitrose will lose its customers potentially permanently which will
lead to the fall in profit. Therefore, one of the important factors in order to maintain this
communication is constantly updating each other with what happening, and suppliers must let the
business know if deliveries are going to be late etc.
Another stakeholder is the local community. They are of interest to Waitrose because they might be
interested in minimum environmental damage meaning they may be concerned about the excessive
plastic used on products. If unresolved could lead to boycotting the business which will affect
Full assignment, 8 pages -DISTINCTION grade achieved.
Assignment title- features contributing to the success of contrasting businesses.
INTRO
In this assignment I will be investigating two contrasting businesses and the features
contributing to these businesses. The businesses I will be discussing are Waitrose (private
sector) and UNICEF (public sector)
D.1- EVALUATE THE REASONS FOR THE SUCCESS OF TWO CONTRASTING
BUSINESSES, REFLECTING ON EVIDENCE GATHERED.
WAITROSE
Waitrose (originated as Waite, rose and Taylor) was brought to market in 1904 by its founders
Wallace Waite, Arthur rose and David Taylor. The business started off as a small growing business
and quickly rebranded to its household name Waitrose in 1908 after David Taylor left the business.
Waitrose quickly took to market and continued to grow its product range and expand. When the
First World War broke out in 1914 Waite began to sell as a wholesale and supplied to the army in
Catterick North Yorkshire. However, rose was injured and eventually stood down from ongoing
health issues in 1924. [1] In 1928 Waitrose received a royal warrant from King George 5 th. This meant
Waitrose directly sold groceries to the royal family. This created brand awareness as this influenced
potential customers to shop here as this was seen as a royal seal of improvement which encouraged
customers to shop here to gain a competitive advantage and an overall higher market share –which
Waitrose currently has 5.1% this allowed Waitrose to grow and expand. In 1937 John Lewis took
over Waitrose as Waite was looking to retire but wanted someone who would maintain the high
standards Waite strived for which lead to the takeover partnership. From this point on Waitrose
added the word partnership to its brand name making it Waitrose and partners symbolizing the
partnership with John Lewis. From the early 1970’s Waitrose currently maintained 50 chains and due
to the growing demand in its products Waitrose invested in a larger distribution center which still
exists today.
Waitrose ownership is a partnership with John Lewis & partners I introduced in the first paragraph.
This was formed in 1937. This is Britain’s largest business with the most partners (employees) with a
figure of 81,500 staff currently. The purpose of the business is to sell food goods such as bread. The
USP of Waitrose is that it has the royal warrant which in itself opens up doors for lots of possibilities
as this influences many people to change their shop from Mark’s and spencer’s to Waitrose. As well
as this Waitrose is known for its high quality and unique range of goods. This works as an advantage
because Waitrose sells many products that cannot be found at its competitors. However, this puts
pressure on Waitrose to keep being innovated and coming up with new products to sell as well as
competitors such as Mark’s and spencer’s might attempt to copy the ideas Waitrose has which takes
away their USP. Therefore, Waitrose needs to ensure that the quality of the product is perfect so
that will priorities for some people over price.
UNICEF
, UNICEF was founded in 1946 in New York. They rely on donations in order to carry out its aim of
protecting children’s rights. It was originally created to help children who were badly affected after
the First World War particularly in lower income countries. Through the donations received UNICEF
uses this for the education sector, other welfare services and health care services. In 1965, UNICEF
was awarded a Nobel peace prize for its work supporting and fighting for the rights of a child. Since
1996 UNICEF programs have been guided by the convention of the rights of the child (1989) [2]
The ownership type UNICEF possesses is they are owned by trustees’ as well as the government.
Currently UNICEF has 190 countries which it advocates for children’s rights. They are also supported
by voluntary funds although two thirds are supported by the government. The purpose of UNICEF is
to protect the rights of the child as well as providing emergency food etc. for children affected by
natural disasters and other emergencies.
M.1- ASSESS THE RELATIONSHIP AND COMMUNICATION WITH
STAKEHOLDERS OF TWO CONTRASTING BUSINESSES USING INDEPENDENT
RESEARCH.
Stakeholders are individuals who have an interest in the business these can be internal and external.
WAITROSE
Waitrose has many stakeholders and it is key Waitrose continue to engage with their stakeholders
and successfully feed them information in order to keep them interested in the business to benefit
the business itself. A way this can be done is through the use of social media. The advantages of this
are that social media secures currently over 3 billion active users. This means that it’s a faster and
easier way of communication which creates the opportunity for free advertisement as the business
message can be effectively spread with little costs worldwide. However, rival businesses for Waitrose
such as Marks and spencer can easily steal customers as businesses need to constantly be updating
their content to keep customers interested as this could lead to loss of repeat customers which will
give Mark’s and spencer’s a competitive advantage.
Internal stakeholders are people within the business who have an interest. In Waitrose’s case
include owners, managers, suppliers and employees. Employees are stakeholders within a business
as Since the John Lewis Partnership; Waitrose refers to its employees as partners and have a closer
relationship to the brand as it is seen as the partners own Waitrose. Therefore, at the end of every
year the profit which normally go to shareholders (Waitrose/John Lewis don’t have shareholders)
will be divided between its workers which give them an annual bonus. This keeps Workers motivated
to work harder and ultimately improve their service to Waitrose such as better customer service etc.
Another stakeholder is suppliers. For them it is key to maintain a long-lasting relationship as this is
an important factor contributing to the success of Waitrose. This is because without suppliers
Waitrose will not be able to deliver goods to its customers which will cause them to go to
competitors which will mean Waitrose will lose its customers potentially permanently which will
lead to the fall in profit. Therefore, one of the important factors in order to maintain this
communication is constantly updating each other with what happening, and suppliers must let the
business know if deliveries are going to be late etc.
Another stakeholder is the local community. They are of interest to Waitrose because they might be
interested in minimum environmental damage meaning they may be concerned about the excessive
plastic used on products. If unresolved could lead to boycotting the business which will affect
