Stakeholders: Co-operative Group Essay
Stakeholders: Co-operative Group
Employees are people that work for Tesco Plc in the exchange of a living wage/salary. In order to work at their best, these employees want security; they want promotions and rates of reward for their hard work. If the employees do not get what they want, their job efficiency and productivity will decrease as they think they are not motivated to do the job. Tesco’s employees are very important for the business as there are around 500,000 and they can influence the success of Tesco by their productivity and efficiency in the job. Employees express their point of view by doing anonymous surveys. Employees are the people that work for the organisation for a living wage. These employees want to feel safe at work and get paid well for their hard working. If they don’t get what they want they will leave the business. They express their point of view by doing surveys. The employees are very important for the business as they sell the products and help the customers meaning that they can influence the business as they can resort to industrial action if they disagree with working conditions. Customers
Customers are the people that shop at Tesco Plc. These stakeholders want good customers service so that they keep shopping at the organisation as they feel satisfied. However, if they don’t get this they will take their money to the competitors and the Tesco’s profits will decline and revenue raise. Customers express their point of view towards Tesco’s service by filling up surveys of how good the employees are and the quality of the product. As in every other business, Tesco’s stakeholders, the customers, are the most important for the business as they bring profits to the business. These customers influence the aims and objectives of this organisation because they can decide whether to keep purchasing at the organisation or not. Tesco engages very well with the customers as they have a club card which helps them identify what the customers prefers and make them a specific offer so that they keep buying from them. Customers are the people that shop at the organisation. They want fast orders and good quality products. If they don’t get this they might shop at the competitors meaning the profits of the business will decrease. Just like employees, they fill out anonymous surveys to rate the quality of the products and the service of the employees. Customers have a big impact on the business as they can chose where to shop, and if they don’t choose the co-operatives it means that they will have to change their aims and objectives in order to attract new customers. At this time, the customers are very pleased with the service provided by the co-operatives. Supplier
The supplier is an individual or a business that provides goods or services to an organisation. Suppliers want the business to keep buying goods for them. If they don’t get what they want, they might go to the competitors and sell goods. They express their point of view by doing anonymous suppliers survey. Over 90% said that Tesco is trustworthy, reliable, consistent, clear, helpful and fair. They can influence the business as they can decide whether to raise prices for orders which can affect the firm’s profits. Tesco engages with the suppliers by sharing their knowledge and helping them to grow in the same time as them. Suppliers are the people sell goods to the organisation. They want to have a loyal business and if they don’t get what they want next time the company buys from them they might raise the prices making it harder for the business to make a profit. For instance, the co-operatives have developed their Sound Sourcing Code of Conduct that identifies the standards they expect to be applied across all suppliers. Suppliers can make a huge difference when it comes at aims and objectives as they can change credit terms which may have cash flow issues for a company and they could decide whether or not to allow discounts for bulk orders or loyal customers. Shareholders
The owners are the people that own something. Owners want to find inexpensive ways to fund business growth and find new opportunities for the business. If they don’t get this it might mean that they will not make offers for the customers. The owners have a big influence on the business as they make decisions every day.
Shareholders are the people that own the business. These shareholders want to make money while keeping the costs low. If they don’t get what they want the business will have to suffer as they are not making profits by buying and not selling enough. They also have a big influence on the business as they can make good and bad decisions meaning they can raise revenue or make profits. Trade-Unions
Trade-Unions are associations of workers that protect their rights and interests. Trade-Unions want their members to have at least the minimum wage, not to work for too long and get holidays. If they don’t get what they want they can suit the business and protest which will bring a bad image to the business. As customers, trade-unions express their point of view towards the business by doing anonymous surveys. Their view of point right now is good as Tesco constantly engages with diverse groups such as out at Tesco which represents different sexual orientations and Stonewall which is a charity.
Trade-Unions are associations of workers that protect their rights and interests towards the business. The members that are part of the trade unions are usually the works so that means they want a good paid job and to be safe, if not they might go to strike or leave the business for a competitor. They can also express their point of view by contacting the business online from their website which is easily accessible for everyone. Like the other stakeholders, they can influence the business as they have many members. One example is NACO which is a co-operative trade union. This shows that the co-operatives are willing to work to advice, support and represent their members throughout the UK. Local communities
The local communities are the surrounding individuals. They want to live in a clean environment without pollution, If they don’t get this they can go to strike against the organisation. Like other stakeholders they can show their point of view by filling out surveys. Local communities can influence a business by petitioning against building or planning permissions for new developments. Tesco interacts with these stakeholders by supporting causes that are important to them. The local communities are the surrounding people. The co-operatives offer a £500 gift vouchers to members if you just tell them a good place for their food store. This can bring a lot a people as they attracted by the voucher meaning that people are happy with the business.