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People and business

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Introduction

1.0 Introduction The company I have chosen is Stead and Simpsons Plc. Stead and Simpsons has been involved in retail since 1834, this means that this year is their 170th year. Stead and Simpson was a leather merchant and curriers business but soon expanded to include the production of leather and ready-made boots and shoes nationwide. Stead and Simpson moved to the midlands during the late 1840's and established factories in Daventry and Leicester. In the early 1870's Stead and Simpson opened its first retail branches in Carlisle, Whitehaven, South Shields and Sunderland and by 1889 the company had approximately 100 branches, this means that Stead and Simpson grew at a very fast rate. The company stopped manufacturing its own products in 1973 and successfully continued growing the retail stores. It was originally a partnership between Mr Edmund Stead and Mr Edward Simpson. There was a management buyout in 1993. Stead and Simpson is a public limited company, this means you can buy shares on the stock market. The majority of the company is still owned by the ancestors of the original partnership, so is still in the family. ...read more.

Middle

The shareholders have the greatest influence as the directors are subject to re-election every year. The suppliers can stop giving the organisation credit. The employees can go on strike. Shareholders - these are the people that have a money investment (in the form of a share) in the business. They are interested in the performance of the firm so they can see a return on their investments otherwise known as a dividend. Suppliers - the suppliers also have an interest in the business as they generate revenue for them. In essence they are their customers. Customers - have a stake in the business have a stake since they buy their products from them. They need a stable supply of goods and this is where they get them from. Community - the community expect the company to be responsible and respect the local area and environment. By the local community we mean the community as a whole, including people living nearby, local businesses and community groups. * Positive effects: The business organisation will provide the community with jobs and prosperity. * Negative effects: The business organisation may generate pollution. ...read more.

Conclusion

This would mean lower sales and profits for Stead and Simpson. * Customers Local Shoppers and consumers are of the uppermost importance to Stead and Simpson because if prices go up, customers have to pay more and may switch to a competitor. Alternatively, if prices fall customers may buy more shoes. If the store relocated then this would affect the customer. It may have an adverse affect as it may cost more to travel to the new location, therefore people would continue shopping in the area the store used to be. Although, if they relocate to a better location with more shops nearby it may generate more customers, due to it being more convenient for consumers. If a new footwear retailer opened nearby to a branch of Stead and Simpson it may affect their business. Normally, when new businesses or a new branch of a business opens they promote their business quite a lot. They do this by running special offers, and place many advertisements to attract customers to their store therefore Stead and Simpson have to counteract this by running special offers of their own. This may result in a price war, this is an advantage to customers as they will get the lowest price possible. ?? ?? ?? ?? 2 ...read more.

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