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In this unit, I will identify Tescos stakeholders. I will explain how each of the stakeholders has an interest within the business. I will also look at each of the stakeholders influence on the business and see how it operates.

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Introduction

PEOPLE IN TESCO In this unit, I will identify Tesco's stakeholders. I will explain how each of the stakeholders has an interest within the business. I will also look at each of the stakeholder's influence on the business and see how it operates. A stakeholder is any individual or group with an interest in any business. The stakeholders are divided into two main types: * Internal and connected (for example employees, including managers and shareholders). * External (the local community and the government). Tesco's three most vital stakeholder groups are customers, employees and shareholders. Here, creating stakeholder satisfaction is mutually rewarding: This shows that Tesco has carried out research to count the factors that gives their customers satisfaction. For example the service that the customers receive is important to how satisfied they are. The circle of stakeholder shows that if all Tesco's main stakeholder groups are happy then Tesco's reputation will go up in the society. INTERNAL AND CONNECTED STAKEHOLDERS Internal stakeholders include normal employees and managers of a business. In Tesco, the shareholders, the customers and other groups or individuals are involved in the business. These people are called connected stakeholders. All these are very important to Tesco. 1. Employees: All the employees are important stakeholder to Tesco. ...read more.

Middle

This shows the achievements of Tesco's managers http://www.coursework.info/i/28879.html 3. Shareholders: This group of stakeholders are interested in the financial part of the Tesco. The expectations that the shareholders has on Tesco are: * shareholders of Tesco want to receive a large and increasing proportion if the company's profits * they also hope the companies share price will rise * some shareholders invest in Tesco for other reasons, not just for money. For example the shareholder might invest in Tesco because trade fairy and give money to charity. 'Investors welcomed the figures, pushing Tesco shares up 3.2% to 211.5p by the close of trade'. - This is what shareholders of Tesco want when the invest in the business. http://news.bbc.co.uk/1/hi/business/2986216.stm 4. Customers: Tesco are mainly focused on customers. This means that Tesco has to fill the expectations of their customers. These include: * good quality products delivered on time * fair prices * after sales service and support, especially for high- technology products. This shows how Tesco are influenced by their customers http://www.tesco.com/corporateinfo/ 'Tesco, the UK's largest retailer, buys enormous amounts of products from suppliers and so has great influence.' - This also shows that Tesco are influenced by their customers From the Collins book of Applied Business 'Ensuring our customers always get the products they came into Tesco for is key to our business," said Tesco divisional director, Joe Galloway. ...read more.

Conclusion

Tesco responds to pressure group because they want to have a good public image. They may produce environmentally friendly good and will not sell products that have been tested on animals. 'We take a very practical approach to environmental sustainability. We know that neglecting our responsibilities may jeopardise our sources of supply in the future. We also know that optimising our environmental performance often goes hand in hand with reducing our business costs and maximising our productivity'.- This also shows that Tesco are influenced the pressure groups. http://www.tesco.com/everylittlehelps/environmentdetail.htm 3. Local communities and society. Businesses are an important part of the society. Local communities expect Tesco to: * provide stable employment for the community * avoid causing environmentally pollution, noise or other problems that might offend the community. Tesco tries to maintain good relations with the community. They try to avoid cutting jobs, they also try to offer financial support for local charities and try to seek respect form members of the local community. Charitable giving 'Each year, we select a national charity with a strong community network to become our Charity of the Year. This becomes the main focus for staff fund raising and receives a 20% 'top up' from the Tesco Charity Trust. In 2004 we aimed to raise �3 million for Help the Hospices and local hospices'. - This also shows that Tesco are influenced by the local communities. http://www.tesco.com/everylittleHelps/charitiesdetail.htm ...read more.

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