In this task I have been asked to state the aims and objectives of each business. I have also been asked to state each stakeholder’s point of view on the business. I have also been asked to explain how each stakeholder’s point of view influences the each businesses aims and objectives. Tesco P2 relates to Tesco’s Aims and Objectives, this is because Tesco plan to be highly valued by the customers they serve, the communities in which they operate in, and their colleagues and also their shareholders. Tesco also want to grow and maintain the number one retail company in the whole of UK.
A final area that we will look into is that of a decision made by company Q to dispose of old and expired food products, instead of agreeing to a request of local food banks to donate the items. The reason company Q made this decision, according to their spokesman, was that there was “a concern of lost revenues due to possible fraud, or theft of food by employees and claiming donation.” This is a poor excuse by a company with the resources to enable proper oversight of the donation process. So what can be done? Company Q has 3 examples where a lack of vision and
This has been a continual request from the customer base. It is in the company’s best interest to meet the demands of the customer’s as long as they align with the company’s ethical values and are not illegal. In the process of offering these products, the company will also have the opportunity to increase its revenues and margins since the health conscience organic foods are high-margin. The second recommendation is concerning the request for the food bank donations. This is another area where you can do your part to improve your company’s attitude towards social responsibility.
Stakeholders In this task I am going to be explaining the features of stakeholders within Tesco and the Walton Centre. A stakeholder is anyone who is affected by a company for example the employees, trade unions, the owners, the customers, neighbours etc. Stakeholders are identified in order to develop businesses sufficiently because they are the most important people within a business. Tesco’s aims and objectives: • To be the most highly valued business by the customers they serve, the communities in which they operate, their loyal and committed colleagues and the shareholders. • To be an outstanding retailer in stores and online.
Management also made the decision not to donate stale products to local charities, citing the potential for fraud and abuse should they do that. A third issue brought up was the decision to offer a limited inventory of health-conscious and organic products, after long-standing and repeated requests from their customer base. All three of the cited issues that Company Q is dealing with appear to have the decision process driven solely by the impact on the profitability of the company, without regard to anything else, which evidently is the perspective from which the company is operating. The stores were closed because of sustained losses, the day-old food is discarded rather than donated to a food bank because there may be some donated that does not meet the criteria for donation and the inventory of customer requested products is limited due to the high margin on those products and the potential to lose money if they don’t sell. Profitability is,
Human Capital: Wal-Mart could implement incentive programs. Also, it would be beneficial for Wal-Mart to expand their community outreach programs so that the company’s public image remains favorable. This alternative is feasible given production, marketing and managerial constraints. Incentive programs, however, would require a small cost (2). Pros: Wal-Mart will face more gentle public criticism.
The company has dedicated itself to the preservation of resources as well as conducting business worldwide using the highest ethical standards. The company makes a difference within communities around the globe due to its understanding of the cultural differences that exist in the various markets. McDonalds is dedicated to the long-term business goals of the company including such measures that will better serve the community. This paper will examine the dedication McDonalds has made to establishing themselves amongst the leaders as being Corporate Responsible in its business ventures worldwide. As mentioned in the Jacobs text, working together with natural principles of development, expansion, sustainability, and correction, people can create more prosperous economies that are more environmentally sensitive than before.
It is their core missions and values that differentiated them from their rivals and attracted many customers and it is rational to stick to those values and core differentiator as it has gained appreciation. I also believe in Michael Jensen’s theory of value maximization and that the “The real issue is what decisions will result in least social waste and not whether one stakeholder is or should be more privileged than the other”. My strategies are not biased towards any stakeholder and focus more on profit maximization and ethical and greener ways of doing business and thereby also sticking to company’s missions. My strategies also focus on low risk initiatives as I feel that taking a big risk by investing huge amounts could literally wash the company out of the market. Hence my strategies also highlight most feasible 15% solutions that would start yielding immediate results.
Dying and suffering from hunger and diseases caused by poverty is morally unjust. Preventable diseases and hunger can be prevented by donating money that otherwise would have been used purchase goods of less moral significance. To stop purchasing consumer goods is less morally significant than the people that are suffering from hunger and diseases. Thus, we should, morally,
As such, there should be more encouragement for consumers to buy environmentally friendly products.. Secondly, used products should not be treated as waste but as valuable resources. That is, a recycling system must be developed in which products and money flow in opposite directions in the post-product-use stages as well as the original production and marketing stages. Through reducing waste, societies can create efficiencies and reducing the costs of manufacture .Thus this could help to improve margins whilst reducing