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Investigating two businesses, Richer Sounds and McDonalds.

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Introduction

Investigating Businesses Unit 1 Introduction: In this portfolio I will be investigating on two businesses, these businesses are Richer Sounds and McDonalds. These companies are both Tertiary. McDonalds is a Franchise and Richer Sounds is a Limited Company. The Ownership of Richer Sounds: Richer Sounds originally started off as a sole trader by Julian Richer and became a Limited Company in 1978; Richer Sounds became a Limited Company. It was incorporated on the 29th November. Since 1990 it has been an unlisted public company. Richer Sounds became a limited company to gain benefits of limited liability. Internal communications Within Richer Sounds, communications may be sent: - From directors or senior manager to colleagues - From one functional area to another - From colleagues at every level to senior managers, directors and the chairman. 1) From managers to colleagues. Communications between managers to colleagues may contain information or some instructions, 'Instructions' as an example, a fax alert colleagues to a safety issue is likely to be followed by a clear set of instructions about the correct actions to take (e.g. in case of a fire). Informative communications tell the colleagues that how well the business is doing, what their aims and objectives are, how they can make the business even better. Richer Sounds feel that it is important for everyone to understand what is going on and to make them feel more involved in this organisation. 2) Communication from directors or the senior managers. - Financial documents, such as the profit statements and the budgets. Every week each store of Richer Sounds receives a feedback on the performance during the past week. This includes outstanding repairs, customer service, and the information on their sales. Each and every Monday morning, the store manager receives a telephone call regarding the figures of the past week. In addition the chairman, Julian Richer phones the best performing stores and regards them a well-done message on the answering machine. ...read more.

Middle

You can read about the actions we take to monitor changes and respond to them in the sections below. Richer Sounds Business Competitors: Because we want to offer our customers the best value possible and the best customer service, we monitor our competitors in three ways. Each store has to check the prices of competitors in their area and fax a weekly competition checklist to Purchasing. From time to time, we carry out official 'benchmarking' exercises when we check the prices advertised by competitors and see how we compare. Our mystery shoppers also visit our competitor's stores, to check their customer service and compare it with ours. As you saw in Operations, our stores must take action if a competitor is offering the same product for a lower price - and undercut the competitor by �10. It must then inform Purchasing, in writing, that it has taken this action. Purchasing will compare this price against the information received by other stores in the weekly checklist and we will then reduce the price nationally if a number of competitors are offering the same item more cheaply. We also offer 'price beats' in our in-store catalogue. If any customer 'phones around and finds that the same product is sold in any competitor's store or on the web, then we will beat any lower price by up to �100 any time up to seven days after purchase. Many companies offer to beat local price competition in retail stores, but very few also offer to beat prices quoted on the Internet! Economic changes that affect them: In our business, we prefer interest rates to be as low as possible. This is because of the following reasons. The bank charges are cheaper for our overdraft. Customers usually have more money to spend on electronic goods, because they are paying less for their mortgages and other essential items Customers may be prepared to spend more to buy better quality goods and may use their credit card to do this, if the interest charged would be less. ...read more.

Conclusion

They believe in developing and maintaining a diverse workforce that will strengthen the McDonald's system and will try to maintain as the world's community restaurant. Objectives: * McDonalds will try to be in one of every 100 countries across the globe. * Social responsibility is an important part of McDonald's heritage. They have a long track record of industry leadership in community involvement, environment protection, and work with their suppliers to help improve their practices, they are committed to do still more to promote sustainable so that resources and the benefits they provide are available for current and future generations. Goals: * For McDonald's to achieve their goal(s) of being the worlds best quick service restaurant experience. McDonalds must have the best experience for all employees. So they formalized their beliefs into their People Vision and their promise. Environment McDonald's recognises it has a responsibility to protect and preserve the environment for future generations and will continue to work in partnership with suppliers who work towards mutually established waste minimisation goals and energy efficiencies. Litter Control/Patrol As part of our community and environmental policy, McDonald's was the first restaurant in Ireland to introduce and operate "Litter Patrols" in all restaurants around the country. Every day, often when everyone is still in bed McDonald's staff collects all rubbish (not just McDonald's packaging) dropped in the vicinity of their restaurant. This is continued throughout the day. Restaurants organise litter-related competitions with local schools and youth groups, litter clear ups in their local areas and part-take in the sponsorship of litterbins. Comparison of both Richer Sounds and McDonalds Environment Both companies do aim to become environmentally safe but both in different ways like Richer Sounds reuses products and has a warehouse that uses electronic equipment to prevent pollution and McDonalds uses people from their Franchise for a litter patrol My Opinion I think that both of these companies try hard to maintain their positions of greatness against their competitors and in their line of work as a Franchise and Limited Company. By Christopher Clark Cla0169 ...read more.

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