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Stakeholders - review of Richer Sounds.

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Introduction This is my second coursework for my Business Studies, which is about stakeholders. For this I need to investigate on any 1 medium to large business. In this coursework I will include information like: A) The importance of the stakeholders B) Job roles and the contracts of employments within the business C) Employer/Employee rights and responsibilities, including how the business deals with disputes D) Employee recruitment E) Further development and training F) Customer Service and customer protection And so I have to divide my coursework into 6 parts. For this coursework I have to choose only 1 company and so I have chose "Richer Sounds" In this part of my coursework I will be identifying all the main stakeholders of Richer Sounds and then explaining their roles within the business The main stakeholders for Richer Sounds are as follow: - Their customers - Their colleagues - at every level - The owner Julian Richer - who is the sole shareholder - Their suppliers - The third-party distribution company - Their financier - which is the bank - The third-party distribution company The internal stakeholders are: - Their customers - Their colleagues - at every level - The owner Julian Richer - who is the sole shareholder - Their suppliers - The third-party distribution company - Their financier - which is the bank The external stakeholders are: - The third-party distribution company Internal stakeholders How does Richer Sounds communicate with their customers? This is the most essential stakeholder group, because without customers the company would go out of business. Richer Sounds communicate with their customers in many ways such as every day in stores, through the websites and through telephone. They also like to get as much as feedback as possible from their customers so that they can improve on the suggestions made. For this the company communicates with the customers through all the types of suggestion schemes for example when a customer purchases a product he/she will receive a questionnaire consulting on the company. ...read more.


Every year Richer Sounds give there 5% of their profits to a charitable foundation called Persula which is set-up by the company. The company set this charitable foundation up in 1994. In the current their project support charities concerned with animal welfare, the blind, cancer, deaf people, homelessness, criminal injustice, kidnapping, disabled and many more. Richer Sounds also like their colleagues to participate with the charitable foundation and suggest causes and initiatives. In this part of the coursework I will be describing the roles of three employees who have different roles and responsibilities and then explain the contract of employment other three people I describe. It will also include the terms and conditions of employment and arrangements. The three colleagues I have chosen to describe their roles are: 1) Lee Nelson - field sales director 2) Gemma Baker - personal assistant to managing director 3) Andrea Day Lee Nelson - field sales director Lee Nelson has been working richer Sounds for the past 15 years and started when he was 16 years old. He started as a full-time stockroom controller in the London bridge store. He had jobs like helping with deliveries, general work around he store and also keep the stock room clean and tidy. But today the company also has stock room controllers who help out in all the busiest hours like on the delivery days and on Saturdays After a year later he went to the central support for help on account department with filling and general duties. Then after six months he became a sales assistant in a store near London Bridge. After those six months he got promoted to deputy manager and most of the responsibilities were in his hands. A year later he became a manger as the previous manager went for a bigger position. In the 2001 lee became the field sales director who visits every store in the U.K for any problems or concerns. ...read more.


relationship between all colleagues and employers How Richer Sounds tries to enforce the rights and responsibilities Richer Sounds tries to enforce the rights and responsibilities in many various ways - Through company policies and procedures on equal opportunities - Company policies on Health and safety - Through their grievance procedure - this procedure helps colleagues to take any action if they feel that they have been treated unfairly Richer Sounds Grievance Procedure If any complaint or a problem for any colleague at richer Sounds relates with his/hers employment then they can use the following procedures: Firstly they can speak to their head of department/manager and tell everything that concerns them about employment Secondly - if they still don't fell satisfactory then now they should seek an advice from a director of the company or the colleague representative Working relationship at Richer Sounds Richer Sounds is very keen on promoting good relationship between colleagues and employers because if the colleague is upset due to bad relationship then he/she would not be able to give excellent customer service to the customers which is very essential for the company How Richer Sounds promote good working relationship Richer Sounds ties to promote good working relationship between all colleagues and employers in many different ways: - By offering wide range of benefits to their colleagues which includes holiday homes, social events as well as business - related benefits - By offering their colleagues an interesting and challenging type of work and also allowing them to join in with other projects such as the Charitable Foundation - Also by encouraging all colleagues to say the problems they have at many different times such as during question time session, during store visits, when talking to the manager and through annual colleague attitude survey - Taking immediate actions on colleague problems - By fulfilling their legal responsibilities which include: * Never breaking the contract of employment * Providing a safer working environment for colleagues * Giving all colleagues their wish of training ...read more.

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