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Stakeholders of Lex Transfleet

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Introduction

Stakeholders of Lex Transfleet A1 - Identify Key stakeholders of Lex Transfleet Stakeholders are people or group of people who have an interest in the business. They can also influence the business in some way. Because Lex Transfleet is a PLC (Public Limited company) so it is owned by shareholders and run by director. Here are the Stakeholders for Lex Transfleet and internal stakeholders are people who work for the business and external stakeholders for not work for the business. Shareholders - Internal stakeholders and they are the owners of Lex Transfleet because they invest money into the business and also be interested in the profits. Directors - They are also internal as they work for the business and they control and run the business by making the major decisions for the business. Directors also have a lot of responsibility and have a very skilled job and expect a high salary. Employees - They are internal as they work for the business. They are also internal stakeholders as they carry out the activities of the business. Employees will also know their job is secure if Lex makes profit. Customers - They don't work for the business so they are external they are external stakeholders of the business and they buy the goods and services from Lex Transfleet. Customers also want to know if their rights are being met so they are not being sold things which are not exactly what they want. The government - They make they laws and are external stakeholders. Lex Transfleet has to follow these laws and regulations. The government makes lots of laws e.g. health and safety law and employee rights and consumer rights. The local community - They live near the business and they are external stakeholders of the business. The local community want to know if there are any jobs available so they can work near to where they live instead of working somewhere far. ...read more.

Middle

Then it needs to find out about the persons specifications e.g. what type of person they want and there and qualifications, then the job is advertised to newspapers and the internet and some of the job centres. When people see the job advertisements and are interested then people ask for details and application forms. When the applications form have been sent they check and see which people are the ones that are suitable and reduce the number of applicants to those that are most suitable to be interviewed, the people who are suitable for the job are then interviewed and asked questions face to face. They then choose a person who is the most suitable person for the job and contact the successful person either by letter or telephone and let them know that they are suitable for the job and when they should start. In Lex Transfleet they recruit both internally and externally. Internal recruitment - It refers to the filling of job vacancies from within the business, where existing employees are selected rather than employing someone from outside Advantages of internal recruitment helps Lex meet staff needs because: - Gives existing employees greater opportunity to advance their careers in the business. - May help to retain staff who might otherwise leave. - Requires a short induction training period. Disadvantages of internal recruitment to Lex Transfleet: - Lex limits the number of potential applicants for a job - External candidates might be better suited / qualified for the job in Lex. - Another vacancy in Lex will be created that has to be filled - Existing staff in Lex may feel they have the automatic right to be promoted, whether or not they are competent. They recruit internally when someone in the business retires or is off sick. They advertise the job by using variety of sources of which depends on the type of job being advertised and the skills that are required. ...read more.

Conclusion

This could also be a good chance for Lex to employ new staff and while employing them it is also reducing the pressure on other staff members doing that job. It can also become more efficient but they may need help to increase their profits. * The communication skills at Lex are also very good. This is a key skill to success. Lex always tries to ensure that the communication with their customers is at its highest standard. Even though it is very good I think that they should have more meetings for the customers. I think this because then the customers would feel more involved and would like to come back to Lex as they also know what is going on within the business. If they have any questions or queries they can also bring it up in these meetings. This is a good way of communicating with their customers. Getting more customers to give idea can also improve Lex as a business itself, by doing this Lex can attain higher amount of profit and make their sales increase too. * Lex can improve their customer service is by giving regular updates on any new products using posters, leaflets and fliers. This ensures that the customers have the right knowledge of the new services available and if ever needed they could straight back to Lex Transfleet. This is effective for Lex because they do not need to compete with any other company, as they already have customers coming to them and this would also help to increase their revenue. * I think that Lex should improve their customer service by issuing the employees with regular health and safety check ups and also health and safety training. This will ensure that they are always aware of what is safe and what is unsafe. It meets the needs of a customer because the customer knows that they will receive good help and advice at all times. ?? ?? ?? ?? - 1 - Mariam Ali Unit 2 - People On Business - Lex Transfleet Ms Begum 22/09/06 ...read more.

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