Table of Contents
P1. Report on contrasting business.
P2. Stakeholder’s Presentation.
P3. Leaflet Preparation for WAITROSE and SCEA.
P4. How the style of organization helps them to fulfill their purposes.
P5. Impacts of Boom & Recession on WAITROSE.
P6. Political, Legal, and Social factors affect both organizations.
Waitrose is a chain of British supermarkets, which forms the food retail division of Britain’s largest employee-owned retailer, the John Lewis Partnership. Its head office is located in Bracknell, Berkshire, England. As of February 2015, Waitrose has 352 branches across the United Kingdom, including 30 “little Waitrose” convenience stores, and a 5.1% share of the market, making it the sixth-largest grocery retailer in the UK. They also export products to 58 countries and have stores in the Middle East (Waitrose, 2018).
Silicon Valley Chinese Engineers Association (SCEA) is a non-profit professional organization in China founded in 1989. Its mission is to promote collaboration, professionalism, and entrepreneurship among SCEA members and to serve as well as to protect the members’ professional and business interests (SCEA, 2018)
P1. Describe the type of business, purpose, and ownership of two contrasting businesses
In this section, a report on the contrasting business of Waitrose with the SCEA is described. Waitrose is a well-known retailer in the UK market and a profitable business organization. On the other, hand SCEA is a non-profitable charity organization.
Waitrose aims to maximize business and gain profits. The key objectives of Waitrose are to: a) to gain improved market share with high customer satisfaction; b) to gain improved employee satisfaction with high retention level; c) to develop strong relationships with the business stakeholders; and d) to gain improved revenue and profits. Waitrose’s main purpose is to provide the best quality products to the customers. They try to inspire their potential and desired customers. They are willing to provide outstanding services to influence the customers to buy repeatedly from their store.
Waitrose is a major British multinational retailer. It is a public limited company and is listed on the London Stock Exchange. It specializes in the selling of clothing, home products, and luxury food products. Waitrose is doing its business in the domestic market of the UK and global markets. Waitrose performs as a primary, secondary, and tertiary sector. As it produces and collects raw materials for manufacturing, it is the primary organization. Again it makes small components for some largest companies and so it performs the functions of secondary industry. And finally, it has production and distribution to the end-users that is why it performs in the tertiary sector.
The key aim of SCEA is to be a leading charitable organization in the UK. The main objectives of SCEA are a) to give the best support to the businesses and entrepreneurship; b) to work for the welfare of the community people, and c) to provide quality services by expert and experienced staff. SCEA’s business purpose is to promote collaboration, professionalism, and entrepreneurship among SCEA members and to serve as well as to protect the members’ professional and business interests. SCEA is a non-profit charitable company. SCEA performs as a tertiary organization. SCEA performs its activities in an oriented manner. SCEA mainly operates a service business. SCEA mainly provides services in the UK and also provides services in some other countries.
P2. Describe different stakeholders who influence the purpose of two contrasting businesses
Stakeholders are persons, groups, or institutions with interest in a project or program. The main stakeholders of Waitrose and SCEA are discussed follows:
Stakeholders of Waitrose
Managing stakeholders is one of the key challenges for businesses. This is not an exception for Waitrose. Stakeholder management generally involves considering the stakeholder’s values and interests and addressing them to make the stakeholders happy. The key stakeholders of Waitrose are owners, its shareholders, its employees, the government, its consumers, and its suppliers. The management and the pressure groups are also the stakeholders of Waitrose.
Owners are the main investors in Waitrose. Therefore, they have a high interest in the business of Waitrose. They contribute to all of the major business decisions. The owner has an objective behind the investment. Their objective is wealth maximization or profit maximization. Owners are often thought to be the most important stakeholders because they have set up the business and give a lot of time into the company to make it successful. Owners like to see their share of profit increasing, and the value of their business rising.
Customers want a business to produce high-quality value for money products. Customers like to see promotions and offer that give them better value for money; they also may like to see products that provide relief to the less fortunate or products that are environmentally friendly. Customers can influence Waitrose by deciding to continue to purchase goods and services from Waitrose. Customers can choose to take their custom elsewhere; therefore this influences the profits that Waitrose would make.
In the case of competitors, their power has grown because of Waitrose’s inability to position itself clearly in the market. By enforcing new strategies their potential power should decrease leading to a shift in box two. Competitors are the main challenges for Waitrose. It always looks for strategies to beat the competitors.
The government wants businesses to be successful to create jobs and pay taxes. They want to see a prosperous business that takes full responsibility in looking after the welfare of society. The government is interested in Waitrose for its tax and employment rates. They influence Waitrose if they increase VAT. Waitrose would have to increase product prices that may decrease sales. The government may pass a law that could change the wages of employees at Waitrose’s which can either increase or decrease the profits made………………….
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