Tesco and stakeholders influence

Tesco is a PLC (Public Limited Company) and is one of the biggest grocery stores in the UK with a market share of 27.8%. This is a company whose securities are traded on a stock exchange and can be bought and sold by anyone. Public companies are strictly regulated, and are required by law to publish their complete and true financial position so that investors can determine the true worth of its stock (shares). The core purpose of Tesco is to be serving shoppers a little better every day.

It was founded at East End of London in 1919 by Jack Cohen.

Oxfam.org

Oxfam is a non-profitable international organisational that aid for LED countries across all continents. Working with 74 countries worldwide to raise funds and support other countries for a good use. It is a global movement of people who share the belief that, in a world rich in resources, poverty isn’t inevitable. It’s an injustice which can, and must, be overcome.

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Oxfam is an international organisation which consists of 14 organisation working over 100 countries. The main purpose of Oxfam is to help create lasting solutions to the injustice of poverty. They are part of a global movement for change, one that empowers people to create a future that is secure, just, and free from poverty. It was founded in 1942 by Cecil Jackson Cole.

Stakeholders influence

Tesco’s different stakeholders are: Employees internal, Local Community external, Government external, Suppliers external, Financiers internal, Shareholders Customers.

External influencers like customers want to be able to buy good quality goods and want to get them cheap.

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They want a variety of products to choose from and expect them to come from a clean, friendly environment. The customers want all these things and if Tesco provides them then they will gain more customers from word of mouth. They also need their customers as they are the source of income as they buy products and act as a pressure group to the business. They act as a pressure group because they put an awful amount of pressure on Tesco to meet their needs. These can be such things as improving their store and even expanding it. Tesco receive comments from the customers which make them improve their business and making themselves more competitive. The customers influence Tesco by these comments and Tesco are encouraged to improve their store for the sake of their customers.

Tesco has responded to their customers influence by making changes to their store to suit the customer’s needs. The customer’s opinions make the most impact because they are telling Tesco exactly what they think of the store and what changes are needed to be made to improve it further. The customers are very powerful as they can create these changes, by writing comments and posting them in the comment box which Tesco empties regularly to try and impress their customers more and more every day, these comments can be anything that bothers the customers and what impresses them that they can provide more of.

Another external stakeholder that influences Tesco’s performance is the suppliers Tesco core value is “treat people how we like to be treated”, and it’s something they apply firmly to their supplier to grip the relationship. Suppliers are able to change their prices which will also affect the profit Tesco makes. Furthermore if orders do not arrive on time finished goods may not be able to be put out in time for customers. They are able to change credit terms which can cause cash flow issues for Tesco’s and they could decide whether or not to allow discounts for bulk buys or loyal customers. Suppliers are as important as any other stake holder because without them there would be nothing to even sell to customers.

Internal stakeholders that influence Tesco’s are their employees. These are the people that are hired to work for them in specific areas of the business. They are just as important because they get to be in verbal contact with customers at all times. It’s vital that they give out the best customer service because this will either make or break the fact that they get a lot of customers or not due to their reputation.

Employees can also influence the success rate of Tesco’s by their work rate, productivity of the tasks they have to do every day. They can also choose to resort to industrial action if they stop agreeing with the company policy and working conditions. Treating employees as their most valued assets, promoting a non-discriminatory work environment and actively involving employees in important decisions are among the ways Tesco has been influenced by emphasis on employees as a stakeholder influence.

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Tesco and stakeholders influence. (2019, Nov 15). Retrieved from https://studymoose.com/tesco-and-stakeholders-influence-essay

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