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Asda - Company mission, philosophy, and goals. Overall purpose of the company, its stakeholders influence on the company.

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Introduction

01. Company mission, philosophy, and goals. Overall purpose of the company, its stakeholders influence on the company. * Introduction : - ASDA is the second largest UK retailer organisation selling A to Z consumer products with 321 stores in the UK and 148,000 colleagues. The process of ASDA marketing has identified what customers need when needed and supply them to the right place with right product on the proper time. Business now generally has decoded ''Customer loyalty is extremely important, especially in a highly competitive market such as supermarket retailing. Competing on price helps to retain customers, but so does non price competition such as having a good image in the community'' According to this we can decide how ASDA has developed so far. * Mission statements : - ASDA makes clear statements of its mission Purpose and values to help stakeholders see the direction which the business is taking. The mission statement sets out its long term aims and is ''To be Britain's best value retailer exceeding customer needs always.'' Its purpose is stated as ''To make goods and services more affordable for everyone''. Its values show what the company believes in including respect for the individual, excellence and customer service. New colleagues receive a detailed induction into all three elements. * In the beginning : - ASDA mainly was found in 1920 with two branches in Knottingley and West Yorkshire. This was a family business owned by the Asquith Family (W. R Asquith) and two sons of Mr. W. R Asquith, Peter and Fred were the co-founder of ASDA. In the same time 1920, a group of enterprising company called West Riding Dairy Farmers joined with this family business with their Hindell's Dairy Farmers LTD Banner and The Stockdale Family (Auther Stockdale) ...read more.

Middle

* Taxation If taxation increases there will be a fall in profits. Dividends to ASDA shareholders will decrease and there will be fall in investment but if there is a reduction in taxation or duty free goods can be imported then ASDA can make higher profits. � Inflation If the rate of inflation increases there will be an increase in the cost on and ASDA will be compelled to increase the selling price. Their will become less competitive in the market, consequently volume of sales will fall therefore inflation affect sales. From the above example, we can see that changes in economic factors may have favorable or adverse impact therefore it is necessary to constantly monitor changes in the economic factors. * S Social Factors: - According to Lan W, Chiris B (2006), social factors may have positive or negative impact on ASDAs' demand. It depends on where the store or factory is situated. So ASDA has to consider the area and what type of people are living, their living standards and life style as well as their religion. If ASDA wants to open up a new outlet in An Asian country like India, Pakistan it is not possible to sell all products which are being sold in UK market because Asian market is entirely different from UK market therefore ASDA must adopt local culture there If an ASDA Wal-Mart Super Store is located in poor country, it will not profitable to ASDA so they have to open a small store like ASDA Essentials * T Technological factors: - Changes in technology may have an impact on the business. Technology has changed according to how services are provided to customers. ...read more.

Conclusion

Because of Cap, ASDA is sure about continuous supply of farming products at a guaranteed price. Therefore ASDA's management can plan their future very easily because they are sure about continuous supply at a guaranteed price. The main principles of the CAP can be stated as follows, A single market means that it must be possible to exchange agricultural products between the EU countries freely and without barriers. Community preference according to this, agricultural products produced in the EU take priority from products imported into the EU from third countries and the EU's agricultural products must be protected from fluctuations on the world market and products imported at low prices from third countries. Financial solidarity means that all expenses on the common agricultural policy must be financed via the EU budget. So these types of policies are vital for ASDA. Why; ASDA now can import many agricultural products from Denmark less than other countries. * The Common Fisheries Policy (CFP) The Common Fisheries Policy (CFP) is the fisheries policy of the European Union. It sets quotas for which member states are allowed to catch what amounts of each type of fish, as well as encouraging the fishing industry by various market interventions. This policy allows fisher men to catch any amount of fish and any type of fish. So policy encourages fisher men and they are trying to catch more fish. So this is a rare chance to ASDA to sell fish at cheaper or they can import fish as no tax between E.U Countries. References Book References Jhon Black, (2001) Dictionary of Econ 1sted. Oxford:Oxford Press. Lan W & Chiris B (2006), business Environment 5th ed. London:Pearsone Education Ltd. Mullins, J (2001) Business Economics 2nd ed. London:Pearson Education Ltd. Roger L & Roger T, (2007) BTEC Business 2nd ed. London:Nelson Thones Ltd. ...read more.

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