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Assignment 1(P1-P2-M1-D1)
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This assignment includes information on two contrasting businesses. information such as the business purposes, stakeholders and also the influence of these stakeholders
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Fahad Khan Unit-1 Assignment 1P1
In this assignment I will be considering the purposes of different organisations as
well as the various types and ownerships of businesses. I will also look at who
the key shareholders are and what influence they have on these organisations.
The two organisations I have chosen to compare are Tesco and Oxfam. I have
chosen these as they are in two separate sectors, with Tesco being in the private
sector and Oxfam being in the public sector. Also, they are quite different in size
and have very different mission statements.
Tesco is a multinational general merchandise retailer. However its services do not
only stop there, Tesco is also a successful banking service provider, as well as an
insurance service provider. Not only this, Tesco also has many different types of
stores, such as; Tesco Express and Tesco Metro. Its reach spans across 12
countries in two different continents, Europe and Asia. Tesco have a very simple
mission statement; ‘to help everyone who shops with us enjoy a better quality of
life and an easier way of living’-(1) this means that they aim to provide the best
services and do so to gain customers and their loyalty. Tesco claim to have three
big ambitions. To reducing food waste, to improve health and to create
opportunities. Their main aim to maximise profits, much like many other
businesses. As a result of this, it is the market leader in the sales of groceries.
Tesco is a Public limited company (PLC), this means that it sells/trades its shares
with the public. It has around 500,000 colleagues that are connected to the
store. Tesco is owned by thousands of people (who are known as shareholders).
However its ownership and the running of the company consists of several
stakeholders. Tesco is a service provider, therefore it is in the tertiary sector.
Tertiary sector organisations provides services for the public and to businesses.
The shareholders have limited liability when it comes to their extent of liability
for debts. Limited liability means that the shareholders are only liable to the
extent of the nominal value of their shares. This is a very good advantage to this
type of ownership, however the original owners may end up losing control but
there are strict regulations placed in order to protect the interest of the owners.
Oxfam is an international charity/ confederation which consists of 17
organisations which operate in more than 90 countries worldwide. Oxfam has
many shops that sell fair-trade and donated items. Around the world, Oxfam has
1,200 shops, with 750 of them being in the United Kingdom. Oxfam Germany
has around 75 shops and Oxfam Australia has around 20 shops. Many of these
shops are specialised, such as books, music, and furniture and in some, bridal
wear. In the United Kingdom, there are around 100 specialised bookshops or
book and music shops. Because of these shops, Oxfam is the largest retailer of
second-hand books in Europe, selling around 12 million books per year-(2).
Oxfam is a not-for-profit limited liability company. It operates in the tertiary
sector as it offers a service. It is also in the public sector, however it works with
many private sector companies. Because they are a not-for-profit limited Liability
Company, all decisions are made by a board of trustees. These trustees are liable
only to the extent of their share value. These trustees are elected by donors,
while elected they have a duty to follow the wishes of the donors. Oxfam have a
very wide range of second hand products. This includes things like; clothing,
accessories, books, DVD and even gaming products. These products are donated
by the public to their local Oxfam shop. These products are then processed by
, Fahad Khan Unit-1 Assignment 1
the volunteers and are priced. If the products are too damaged to use, they are
sent to the recycling centre that Oxfam run. From here, the products are
reproduced to other more useful products. If a product cannot be made into a
more useful item, then it is remade to fill mattresses. ‘Oxfam’s vision is a just
world without poverty.’ Their purpose is, ‘The purpose of Oxfam is to help create
lasting solutions to the injustice of poverty.’(3)
This means that Oxfam are working to abolish poverty from this world. They plan
to achieve this by using a ‘combination of rights-based sustainable development
programmes, public education, and fair trade campaigns’-(3) and much more. By
doing this they wish to be portrayed as innovative and practical, also to learn
from others in ways which will cause more of an impact. Oxfam challenges
poverty at different levels, from global to household. This is done so they can be
thorough in identifying and extinguishing poverty fully. They also work with
partners at all levels to gain a strong, established following. Which can help them
fund their projects. Oxfam also work to remove the other issues of the work, such
as gender justice and diversity. Oxfam also have very strong beliefs. They believe
that everyone has a right to realize their own potential; also to have the
opportunity to live without poverty. They also believe that with the proper action,
a world without poverty is possible.
P2
In this section I will be providing a detailed description of the different types of
stakeholders that the organisations that I have picked have.
A stakeholder is anyone with an interest in a business. They may be individuals,
groups or even organisations, anyone who is affected by the activity of the
business. Some examples of stakeholders include; Owners, managers, workers
and the community. These stakeholders are categorised into two sections,
internal stakeholders (owners and workers) and external stakeholders (the
community).
Tesco
Tesco believes that engaging with different groups which influence their company
is fundamental to their values. Due to this they have many types of
shareholders. Their mission statement is to ‘to help everyone who shops with us,
enjoy a better quality of life and an easier way of living’-(1)
The Customer
The customer is the main objective for Tesco. Tesco aim to please the customer
and to provide quality products at a fair and honest price. A customer can be any
person that visits the store and purchases an item. The customer expects Tesco
to operate fairly and honestly, also to provide a choice of products, including
sustainable, healthy and affordable options.
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