Essay
Unit 1 Business Environment D1
- Institution
- Pearson (PEARSON)
Distinction 1 for Business Environment - Level 3 Extended Diploma in Business. - Evaluate the influence different stakeholders exert in one organisation
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Conor Cunningham D1Stakeholders
(b) As a written Report you are required to complete the following for D1:
The entrepreneurs are keen to understand which stakeholders can influence a business most.
You should evaluate in your report the influence different stakeholders exert in
one organisation.
Provide an overall conclusion in your report based on your discussion, the
stakeholders with the greatest and least influence. Explain and justify, using
evidence from different sources, why you have chosen these stakeholders. (D1)
The different Stakeholders which have an influence on Tesco
Customers
Customers have the biggest
influence because they are the
one stakeholder who can walk Community
away if they are not happy.
Tesco will lose their lifetime of The local community want to
loyalty. They will spread the see jobs go to local people to
word to friends and the media. reduce unemployment in
their area. They also want a
Sales would drop and this would minimum disruption to the
Suppliers anger shareholders. Tesco local economy and also the
responds quickest to customers. community they live in. For
Suppliers want to be treated example, they wouldn’t want
fairly. They want a fair price a Tesco store in the centre of
for their goods. Tesco need to the town which will cause
traffic disturbance and any
give them what they want as form of pollution.
they need to stock their
shelves with fresh goods. The community will try to
Tesco need good business The different Stakeholders ensure that Tesco's aims and
objectives are addressing and
relationships to get best which have an influence on complying with community
quotes from their suppliers. Tesco issues.
Government
The government tries to ensure that Tesco
employs as many people as possible, pays all of
Employees its taxes and follows its criteria in terms of
environmental issues. Tesco and the government
Without good quality, well educated, customer focused have worked together in the past to create
staff, Tesco would not be successful. Employees need to schemes for people who are unemployed. Tesco,
welcome customers in a friendly and professional way. along with the help of the government try their
Employees always need to be motivated and present
best to reduce the figure of unemployment on
Tesco in a positive light. This will positively influence the
both a local and international level. The
customer experience and in turn customers will return
government also have an influence on the waste
and give a lifetime of loyalty.
management of Tesco.
,Conor Cunningham D1
Introduction
This report will include an evaluation of the different stakeholders which have an influence
on Tesco. The following stakeholders will be evaluated: Customers, Employees, Suppliers,
Government and the Community. Different stakeholders have different influences on Tesco
as an organisation and these influences will be analysed and evaluated. The stakeholder
which has the least and most influence on Tesco will also be established.
Stakeholder Influence Justification
(1-10)
10 = Highly
influential
Customers 10 Tesco's customers are external stakeholders. However, they are
probably the most important. They have a strong influence over
the aims and objectives of the business. If customers are not
satisfied with the products and services Tesco has to offer, the
business will suffer as a consequence. The customers are really
important to Tesco as they provide the sales that enable the
business to make a profit and grow. Tesco do recognise the
importance of their customers. Their mission statement is “to
create value for customers to earn their lifetime loyalty”.
Tesco are constantly looking
at who their target audience
is and what the demands of
their target audience are.
Customers seek to influence
the aims and objectives of
Tesco as they want cheap
products for the whole family.
Tesco try their best to meet
this demand to ensure regular
customers. Tesco have different stores such as “Tesco Extra”
which opens 24/7 to accommodate customers who don’t have
time to shop during the day. Customers want high quality
products and reasonable prices. The customers of Tesco help
them survive and grow through repeated custom. Tesco reward
their customers by creating a lifetime of value.
https://secure.tesco.com/BrandGuarantee/HowItWorks
, Conor Cunningham D1
“Free delivery on all orders”
This is looking after the
customer and trying to
support families and people
on low income. It is evident
from the Tesco website that
they value their customers in
a number of ways. They
constantly compare
themselves to other large
retailers such as ASDA and Sainsbury’s. This is an attempt to
influence the customer base coming to them as opposed to
shopping with their competitors. They even mention “Morrison’s
does not have stores in Northern Ireland”, again this is an attempt
to make the customer feel like Tesco is the more convenient
option.
“Up to Half Price Toy Sale”.
This shows how Tesco are
influenced by its customers
to provide inexpensive
products and this is a
fantastic marketing strategy,
particularly at this time of
year coming up to Christmas
where customers – families
in particular – will be looking
for cheap gifts.
http://www.tesco.com/#w1
“Helping you save” shows
how the customers have
influenced Tesco in their
techniques to drive sales
forward. They want the
customer to feel like they
are saving money as they
shop and not actually
“spending”.
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 club card benefits Tesco and more importantly, its
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