developing a product

* To recognise that money has been advanced in support of the operation.

Invest more money to make Beatties a better place to shop. To achieve this Beatties try to purchase the latest technology available in order to offer the highest quality training for its employees to meet their full potential. Beatties believes that when an employee achieves their full potential they will offer the highest customer satisfaction. Due to Beatties training scheme being well funded it has been proved that Beatties offer a high standard of training, which is created by successful performance. Furthermore Beatties give all trainees the chance to progress to senior positions within the company.

* To acknowledge therefore that shareholders are entitled to a fair interest in investment.

Beatties actively make sure that all its shareholders are making good returns on any investments made. Feedback from shareholders is given to the Board as and when it is received. The senior independent non Executive Director is available to the shareholder if there are concerns which cannot be dealt with through the usual channels. The Annual General Meeting is attended by all of the Directors and Shareholders are invited to ask question during the meeting and to meet with the directors after the formal proceedings have ended.

* To maintain the business in a good state of efficiency so that it can operate to the benefit of its customers, it's serving members and its owner members.

Invest more money into conditions of services such as I.T and Customer care.

Beatties seeks to achieve this by keeping the business clean so it is shown to the public in a respectable manner. It has store guides around the store and makes sure each department is well manned with helpers and other staff. Furthermore all staff are trained to the highest standard and are all ready to serve customers with care and respect.

* To make a profit.

Beatties needs to make a profit to satisfy its shareholders. It makes a profit by selling high quality products. Also selling a wider range of brand names makes helps it to attract a large number of customers and therefore make a profit. As one of Beatties selling standards 'promote Beatties visa card whenever possible' this will make a profit due to things like commission of the card itself and all money made on the card will go straight to Beatties due to the card being theirs. Furthermore Beatties offer out free samples on things like perfume and make up, this helps customer decide on what product they like best, which may then result in a future sale.

* A programme of Store expansion.

Over the next two years, Beatties will have increased its shopping space from 506,000 square feet, by over 50% by extending the stores at Wolverhampton, Solihull, Northampton, and Sutton Coldfield. The most recent new branch in the Beatties retail business is in Telford it was opened in January 2003.

* To provide, good working condition for all employees and shopping conditions for all customers.

Beatties offer good working conditions by offering hours of work, which are flexible. Working time is flexible, mobility of members is advanced in the way of wheel chair access for staff and its members. Also Beatties make sure access for all disabled customers is clear and is helped each staff on all departments. This logo shows Beatties care:

* To provide good leadership at all levels. To ensure that serving members benefit from any success to which they have contributed.

Provide fully qualified staff to lead other staff and if any members of staff contribute to any success offer promotion or pay rise. At Beatties all staff has the chance to be trained from manager level downwards. Some of the training which takes place in Beatties are:

- Retail Management Training.

- Modern Apprenticeships.

Beatties training schemes offer:

- Personal development

- Variety

- Business insight.

- Structured programme.

All training is approved by the Learning Skills beacon.

External factors.

The types of external factors are:

* Political and legal.

* Social

* Ethical.

* Economic.

Political and legal factors.

Businesses decisions are influenced by political, fiscal (taxation) and legal decisions. For example, although in recent years many people have been encouraged to become self employed, there has been a feeling among many of these people that they are over regulated. Influences might include:

* Changes in the tax structure.

* Privatisation.

* Trades unions.

* Changes in the availability.

* Duties and levies.

* Regulatory constraints, such as labelling quality, safety.

Social factors.

To understand the social environment involves a close analysis of society. Demographic changes, such as population growth, movements and age distribution, will be important as will changes in cultural values and social trends, such as family size and social behaviour. Factors might include:

* Consumer lifestyles.

* Environmental issues.

* Demographic issues.

* Education

* Immigration/emigration.

* Religion.

Ethical factors.

Ethics are moral principles or rules of conduct generally accepted by most menders of society. Most organisations today believe it is necessary to take up a stance that shows the public they operate in an ethical manner. Emphasis o the consumer is a key aspect many organisations. Some ethics are reinforced through the legal system and thus provide a mandatory constraint upon business activities, while other are the result of social pressure to conform to a particular standard. Factors might include:

* Genetically modified food.

* Contaminated food.

Economic Factors

Though the economic environment is influenced by domestic economic policies, it is also dependent upon world economic trends. Rates of economic

Some of the external factors that affect Beatties achievement:

* Community (unemployed).

* Seasonal holidays i.e. Christmas.

* Fashion trends changing.

* Energy prices.

* Natural Disasters.

* Economy.

Community (unemployed).

This will affect Beatties in the way that customers who are unemployed will not have the money to buy luxury products, because Beatties specialise in brand names they are blocking out a certain market so people will not but quality what they normally could afford, but seek out cheaper shops to subsidise their cash flow.

Seasonal holidays (Christmas).

This will affect Beatties due to money spent over religious and seasonal celebrations. For example before the Christmas period Beatties will make a lot more money than after Christmas because people spend most of their money and may struggle for money in months such as January and maybe February.

Fashion Trends.

Due to fashion changing Beatties have to develop their range with the speed of which fashion is changing. Beatties offer brand names but this may not suit customers due to new, cheaper stores opening with the same sort of quality, people who go to Beattiesdon't mind paying slightly higher prices because of the reputation Beatties has, people pay higher prices for the service they receive.

Energy prices.

Due to energy sources such as Gas and Electricity rising people will have to pay their bills rather than spend their earned capital on luxury items that Beatties sell, this will affect Beatties as they will be loosing money and custom.

Natural Disasters.

Natural Disasters will affect Beatties, due to the hurricane in America affecting petrol prices. Due to the rapid increase in petrol prices, Beatties will loose some customer form people who drive as they would rather spend their money on transportation methods rather than luxury items.

Economy.

Recession and booms !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Alex Smith