Competitors – they will be only interested if the Business means “ASDA” is not doing so well as this will mean more business for them , because they are offering the same services within the same area. They can use the financial statement of “ASDA” as a “bench mark” for their own performance. Owners- they are the most important stakeholders, because they have established the business and they devoted a lot of their time for the company success. They are the stakeholders, who have the higher interest for the business to raise on profit and value. Employees and Managers- their interest is that the company provides them with decent live hood.
They have an interest in the business by prompting money and want the companies to make steady orders. They like to feel valued, by the company which they supply too. Owners have an interest in the business because they can either be sole traders or run the business in partnership. They are known for the most significant stakeholders which they are the ones who control the business. Their interest is to see the profit they make increasing and the value that the business has rising.
Sometimes, the staff exchanges the product with a different size that is suitable for them and whether it makes them happy. In addition, Primark is an outstanding retail company, so the customers would want their staff to have good product knowledge, someone who knows the idea of what they customers like and don’t like. So therefore, it benefits the customer to trust the staff and they would have a good understanding with negotiating with the offers such as ‘sales reduction, which is quite useful in a business. How effective customer service benefits the organisation Great customer service makes your customer feel that you care about developing in long term relationship that means you are not only make more sales, however it does benefit the business in different ways , such as : Repeat
Without customers, there is no business and this will hurt this large company in the long-term. Not only is it right for the company to give more consideration to their employee’s desires but it will also contribute to the bottom line. Their customer will know the value of their company and employees will be more productive in what they do and proud of who they work for. Wal-Mart makes an average of $245 billion in revenues; therefore they have the resources to treat employees fairly. It is important for their corporation to take care of their workers and have a reputation of treating them fairly, which is important to the customers.
The benefit of a successful Kaizen costing program is that the company operates more efficiently and with lower costs. When they do that, they should reward those who have helped to achieve the success. As a company succeeds with its Kaizen program it becomes more “lean” and able to be more competitive in the marketplace, and more profitable to its shareholders. The potential downside of Kaizen is that management uses it as a stick, rather than as a carrot to motivate managers and employees to lower costs. Also, if employees are not properly trained on the Kaizen philosophy, they will likely not be motivated to seek lasting ways to lower costs and improve processes, or they may pursue cost reductions that compromise
Employees in exchange do a good job but loyalty to the company is the most important thing. One mega giant is Microsoft as a company they boast of integrity, honesty, openness, and personal excellence. The company holds itself accountable to their customers and all of their employees by providing the best product at the most economical price possible. Microsoft is focused on employee training as well as employee promotion from within. These guidelines are the reason that Microsoft feels the employees will do noting to jeopardize the
The job of a salesperson ranges from order takers to order getters. Personal selling is the key to developing strong relationships because it is directed toward achieving mutually satisfying results between customer and seller, which will sustain and enhance future interactions this is very important because it is a lot cheaper to retain current customers than to attract new ones. However, “In a results-oriented environment, the foundation of many compensation systems, sales quotas can focus sellers and managers in a direction inconsistent with customer-oriented selling.”(“Evans”,
6 Social Responsibility within Company Q Social Responsibility within Company Q Daniel R. Beckerman Western Governors University WGU Student #000322976 For any given business, the greatest potential for revenue growth can be found through a mix of focusing on providing for the shareholders, as well as thinking of the stakeholders as a whole. This means focusing past short term profits and creating a plan that demonstrates a measure of social responsibility. Business reputation goes a long way towards creating how large a company’s customer base is going to be, and giving the appearance of not caring about the community can lead to a loss of customers and a loss of additional revenue in the long run.
This will ensure that employees feel accommodated and not overlooked by their place of work. Starbucks believes that their employees are a great asset to their organization and consider them the image of the brand and also their products ("Starbucks Ceo Howard Schultz: 'Profitability Is A Shallow Goal'", 2013). It is the employee’s role to ensure the company’s image is protected and to always follow the businesses ethical beliefs. One of Starbuck’s goal is to ensure that all employees feel appreciated for what they do. The company makes considerations based on what will make the most money, the first step in this process is to have employees that are motivated and happy in their
Brainstorming and group problem solving will help a business succeed. Teamwork also brings into play diversity, working in teams is being able to communicate and work with others of different backgrounds. Another business trend that is big in the workplace is ethical concerns. Treating employees fairly, showing concern of the environment, treating the community with respect and telling the truth are all ethical concerns that play a big part in business trends and are probably one of the most important