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Business BTEC Level 3 Unit 1 D1
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Business BTEC Level 3 Unit 1 D1
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Jahed AhmedBMC000010360
I am going to evaluate the influence that stakeholders exert on Tesco. I will be
evaluating the following stakeholders: customers, employees, shareholders,
suppliers, the government and owners.
The first stakeholder I am going to evaluate is customers which are external
stakeholders. Customers contribute to profit levels and turnover through buying
products and services. People are stakeholders in a company for financial
reasons, customers do not want to have to spend an excessive amount of money
to purchase a product, so if the product is cheaper in one store, such as Tesco,
than in another store then customers will buy the cheaper one which then
attracts more customers.
An organisation survives through customer loyalty i.e. having regular customers.
Tesco ensures that they get regular customers by giving them loyalty cards,
promotions such as “buy one get one free”, discounts and other special offers.
Tesco are getting regular customers which bring in more profit which then can be
used to help expand the business. Tesco made customer loyalty marketing work
when so many other retailers failed. They give vivid insights into how Clubcard
benefits Tesco and more importantly its customers.
Customers demand cheaper products so local and national stores such as Tesco
will try to have the cheapest products for customers to buy which then
encourages competition between the stores, whichever store has the cheapest
price for a particular product then they would be attracting all the customers.
The second stakeholder I am going to evaluate is employees which are internal
stakeholders. An employee is any person hired by an employer to do a specific
job. Employees are important as any other stakeholder because they have first
contact with customers so if the customers want to ask a question about the
organisation or about a product then the employees can help with that and that
employees could also recommend products to customers which will bring in more
profit.
Employees must know about the customer service policy. If customers have a
problem or an issue with a product or service then employees must know how to
deal with it. Tesco have a customer service, the advantage to having a customer
service for the customers is that their complaints will be responded to.
The type of employees Tesco would want to employ are the qualities the person
has such as willingness, a positive attitude, excellent communication skills with
customers so customer service is superbly operated, the ability to relate to
customers, an employee should be able to project a good store image, to be
helpful, polite and knowledgeable. An employee should be a good team player
and have team work skills. The type of employees Tesco would not want to
employ is someone who is dishonest, has bad timekeeping and continues to have
high absence rates. Tesco have got 360,000 staff working right across the range
of Tesco's businesses: from Stores to Personnel, Property to Support Office.
Personnel managers try to influence positive morale among staff and managers
so they ensure that they select the best candidate to employ for positions in
Tesco stores all over the UK.
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