• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month
  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  6. 6
  7. 7
  8. 8
  9. 9
  10. 10
  11. 11
  12. 12
  13. 13
  14. 14

Stakeholders - review of Richer Sounds.

Extracts from this document...


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.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE People in Business section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE People in Business essays

  1. Tesco's different stakeholders are:Employees

    The customers want enough parking and they want it to be appropriate parking, near to the store and spaces wide enough for prams or wheelchairs. The disabled spaces are available to everyone, you don't have to display a disabled badge like all other supermarkets across the UK.

  2. Report: Type of ownership of J-Sainsbury

    Different types of methods such as, Oral, J-Sainsbury's can talk to customer to find out what improvement they think may need to be done in J-Sainsbury's which if is fast, Written, because they can communicate with customers through surveys. J-Sainsbury believes in giving colleagues a voice in the business.

  1. This coursework is about the customer service at Argos. It covers the following:Responsibility of ...

    It could be through a qualitative or quantitative form of interview. This involves going into Argos and having discussions with its customers and manager and deriving using information from the conversation. The advantage of this method is that it gets accurate results because people's true opinions are expressed.

  2. The background of the Kettering Park Hotel and Spa

    The best thing about the dectophones though is that they also talk to fire panel and so anyone holding the phone can sound the alarm or turn it off in a false alarm. The phones also have a link to the fire brigade and if someone uses the phones to sound the alarm the fire service are automatically notified.

  1. Business at Work - ASDA

    to their ability and satisfaction to meet the criteria expected by management. An illustration of Asda's equal opportunity policy and employment records was provided when Asda opened a new branch in Hulme. Over eighty percent of the 400 colleagues employed at this branch were unemployed before they came to work with Asda.

  2. A Report on How Richer Sounds Functions

    the public and therefore do not lose any control over the business and also do not have added pressure from shareholders to improve their profits. Also Richer Sounds can benefit from the advantages of being a Limited Company. 4.1.4 Richer Sounds' Activities Richer Sounds' main activities are selling great value

  1. Communications in Health & Social Care.

    The best way is for the staff to use communication to encourage her not to threaten her self-esteem. To do this first talk to only a few children instead of the whole class. Also the staff should continue to ask open-ended questions and become enthusiastic by using interventions e.g. "Wow!"

  2. This is a report on Marks and Spencer a well known retail company in ...

    a variety of psychological factors, personality, perception, his willingness to accept risks. His or her behaviour is then referred to as a management or leadership style. At the moment Marks and Spencer leadership style is autocratic and this can be seen below as well as democratic.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work