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Business Stakeholders Marks and Spencers

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Introduction

Coursework theme A Level 1- Identify the stakeholders in the business. Describe how the stakeholders are affected by the business. Level 2- Explain the influence of the stakeholders on the business. Level 3- Analysis all the conflicts among the different stakeholders and suggest how they can be resolved. Introduction: Marks and Spencer's is a huge national business that has made millions. It has 42 stores throughout the UK and there is only 1 in Peterborough. There are 66,000 employees in the UK alone and millions worldwide. It is a PLC, which means that anyone can buy shares in the company, however if some brought a single share they would earn about 10p per year. Stakeholders: The main stakeholders are: The owners are the people at the top of the business; they are in control of all of M&S, they have an overall say in what happens with decisions regarding the business. They are interested in the business because they would be putting their own money into the business and if the business loses money then so do they. They will also get any profits that the business makes so if the business makes more money then so will the owners. ...read more.

Middle

They want value for their money as well as quality products at reasonable prices. Businesses have to conduct market research to see whether the customers that they are aiming for will buy their products or the products won't sell. If the business can successfully predict what the customers will do then it contributes hugely to success. The Suppliers sells the business raw materials, components or services. All businesses need suppliers so that they can produce their products, without supplies the business can't make any money leaving the business in free-fall. The suppliers want regular orders because that means that they are themselves succeeding in what they are doing. The suppliers are an influential part of the business because the costs of the business are mainly the raw materials; if the quality of the raw materials is bad then the end product will be bad thus losing customers. Business will buy the raw materials in bulk to get a bigger discount on them. The Government expect businesses to provide the right products and services that the economy needs to stay stable. The government also want the business to provide jobs for the public so that the economy stays stable again. ...read more.

Conclusion

Marks and Spencer's conflicts- Marks and Spencer's like any business will have conflicts of interest. M and S have measure to try and restrict these conflicts. The main way they try to do this is the Business Involvement Group (BIG), this is a group of people that are all employees voted for by fellow employees and this group tries to restrict the gap in communications between the owners and the employees via meetings. They have these groups for every store. Once the owners tried to change the breaks that the employees have form one 15min break in the morning, one 30min lunch and another 15min break in the afternoon to one 45min lunch and a 15min break in the afternoon. Every store except form the Peterborough store agreed with this proposal. So the Peterborough BIG had a meeting with the owners and they managed to keep the original break. There was also a time when the business wanted to change the Christmas bonuses but again the Peterborough employees didn't agree with the idea and once again the BIG managed to keep the old bonuses. Marks and Spencer's manage to manage their conflicts of interest quite well because of the Business Involvement Group. ?? ?? ?? ?? ...read more.

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