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Unit 1 - D1 - The Business Environment
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Essay of 3 pages for the course Unit 1 - The Business Environment at HSFC (Unit 1 D1)
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Xhuljan Vuthaj 44975Unit 1 D1
D1: Evaluate the influence different stakeholders exert in one
organisation.
Managers
I believe that the managers of Tesco have the largest influence on the business
as they are working for the success of the business but they are also working to
gain a substantial salary and status within the business. The managers will be
very influential towards everything related with the business as they will be the
ones controlling and managing the stores and business. They will have an
influence over employees the most as they will be allocating and organising staf
to carry out tasks. It’s important that the managers guide and motivate the
employees towards their task to ensure all work which is outstanding is
completed to a high standard. Managers will also be influential regarding
diferent departments, for example they will be evaluating the budget of each
department and how it is spent and what it is spent on, in order to improve each
department so the business can run efficiently as a whole.
Employees
Employees will have a reasonably high influence on a business like Tesco
because without them the business cannot run properly, from Tesco’s view point
the employees are seen as valuable assets. The employees have a great
influence because they are the ones dealing directly with the customers and they
are the ones who are representing Tesco as a business. Employees are working
towards their own personal goals, with the main one being a wage to provide
them a livelihood but they also would alongside that like job security and
satisfaction. Employees in return would try to work harder to achieve a better
position within the business which would lead to a higher salary. This is good for
Tesco because their employees are motivated to working harder to achieve a
better role which would lead to higher quality services and customer satisfaction
which is good for Tesco.
Customers
I believe that the customers have to be one of the most important stakeholders
within the business because they will have the largest impact on the business;
this is because they are the main reason why Tesco operates. If there were no
customers the business would not be too able to convert their stock and services
into cash, which will have a large impact on Tesco’s sales and profits. Customers
require both quality and value for money products and services from Tesco in
order for them to become loyal purchasers from Tesco. The disadvantage of
customers is that diferent firms are able to persuade them upon what
supermarket to shop at but it is solely down to the customer to choose what
supermarket to shop at. Another thing that customers ofer is feedback in areas
which they believe the organisation can improve in, which is then down to Tesco
on whether to take the advice from customers on board or not.
, Xhuljan Vuthaj 44975
Owners
I believe that the owners have the greatest influence on how a business will
perform and operate within its current environment, such as key decisions which
can result in improvements of the business or regressions on the business.
Owners will be the ones directing the business and navigating what pathway the
business will take and how the business can perform efficiently to succeed in
achieving their goals. Tesco’s owners will have an influence on the business as
they have invested money into the business to try and make it as successful as
possible. The owners expect to secure large financial rewards by remaining
committed to the firm; examples of these rewards are bonuses. Owners will have
the power to respond to any key decisions that need to be made. The owner
would evaluate the current positon of the frim and then decide whether to go
ahead with their decision or retract from their decision. These decisions can have
huge influences on the business, some can make the business successful and
some can send the business downhill and it is all down to the owners to make
the decisions in the best interest of the business. The owners will also be the
ones creating and influencing all goals and objectives that are set out, which
allows the owners to make their mark on the business.
Suppliers
Suppliers I think will have a reasonably high influence on a business like Tesco,
this is because suppliers will be supply the stock for which Tesco will be selling to
its customers. It is important that Tesco build a strong relationship with their
suppliers because if Tesco are using their suppliers regularly and paying them on
time then they will benefit from trade discounts as a reward from the suppliers
for Tesco’s loyalty. Tesco will also be assured that by using their suppliers that
they are receiving quality goods and that consistency is always present.
Suppliers will want regular orders so that they are kept busy and can generate
income; this can be achieved by being both reliant and efficient, by doing this
they can appeal to those who are in need of a supplier. Suppliers are influential
because they are providing the goods which Tesco will be selling to make a profit,
without these goods Tesco will not be able to run. Suppliers have certain powers
to influence how much Tesco will pay to purchase their supplies and by what date
Tesco will receive the supplies.
Local Community
I believe that the local community has relatively high influence on a business
such as Tesco, such as how the business operates and trades and also many
other aspects of business operations. Tesco must make sure that the local
community is not upset by any of their operations or actions and Tesco must try
and take the upmost care when dealing with issues regarding the local
community. A local community can influence a business like Tesco by choosing
what products and services they desire, this can be seen as an advantage which
provides the business with a means to introduce new goods and diferent
variants of goods which may appeal to the local community. This shows us how
the local community can afect Tesco’s operations; this is by demanding for new
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