Help Sheet: Ideas
Help Sheet – M1 Unit 1
Explain the points of view of different stakeholders seeking to influence the aims and objectives of two contrasting Organisations (M1)
You must explain the points of view of the different stakeholders and link the points of view with the aims and objectives of each business. You need to research all aspects and investigate external influences that affect your chosen businesses, for example, supply and demand, government legislation, economy and social factors. * Introduction – start the assignment by describing why stakeholders have different perspectives. They all want their own way, see examples below to help… * You need to look at TWO companies (Tesco and AKA) * Suppliers – want the best price for
their product (eg farmers and milk prices, Tesco want to give them 21p, farmers want 25p – how will this affect Tesco’s aims and objectives? (profit, being the best retailer, offering value for money) for AKA – the suppliers want to deliver a product at a certain time, AKA only open from 1pm – this affects suppliers as they have other deliveries and may waste time waiting for AKA to open, hence not worth the order. * Customers – they want the best quality for the best price, they constantly research competitors and only buy the best. They demand special offers, excellent customer service and for big companies to go the extra mile for them. How is this different to suppliers or employees point of view? AKA – the customers want more classes, more sessions, cheaper dance classes, - this goes against the owners as she wants to make a profit and have a minimum numbers of people attending classes otherwise she won’t cover costs. * Local community – they want clean environment, quiet peaceful living area, no rubbish – how will this influence aims and objectives? And how is this different to the other perspectives eg. managers who want to make a profit not pay for bins or plan for early morning deliveries). For AKA, local community want a place to go and visit but car park blocks a whole road when a show is on! * Shareholders and Directors – they want profit and high dividends – how does this compare to the other stakeholders? For AKA, this is not relevant. * Government – they want people to be employed in UK, they want to obtain taxes from large companies, they have initiatives to employ more young people or school leaving age – how does this affect Tesco’s aims? For AKA – Government offer grants to AKA – government want small business to engage segments of the community eg (autistic people) this may not be the pathway the owner wants to go – she may want to work with elderly people – how will the terms of a grant influence AKA’s objectives? * Trade Unions – they want fair, equal pay and terms and conditions for all employees, how does this differ from shareholders that want profit? For AKA, this is not relevant. * Employees – they want good working conditions, bonuses, good holidays – this contradicts against shareholders who want profit, or managers who want to spend money on products not employees staff rooms or lockers. AKA – employees may want better pay to compete with larger dance classes like Zumba franchises – owner cannot afford the higher wages so they have conflict. * Now conclude – this is where you summarise the different opinions of stakeholders and how important they are in making aims and objectives for EVERYONE not just owners or customers.
Remember – this is a MERIT task – grade C equivalent – detail and evaluation is the key!
Explain the points of view of different stakeholders seeking to influence the aims and objectives of two contrasting Organisations (M1)
You must explain the points of view of the different stakeholders and link the points of view with the aims and objectives of each business. You need to research all aspects and investigate external influences that affect your chosen businesses, for example, supply and demand, government legislation, economy and social factors. * Introduction – start the assignment by describing why stakeholders have different perspectives. They all want their own way, see examples below to help… * You need to look at TWO companies (Tesco and AKA) * Suppliers – want the best price for
their product (eg farmers and milk prices, Tesco want to give them 21p, farmers want 25p – how will this affect Tesco’s aims and objectives? (profit, being the best retailer, offering value for money) for AKA – the suppliers want to deliver a product at a certain time, AKA only open from 1pm – this affects suppliers as they have other deliveries and may waste time waiting for AKA to open, hence not worth the order. * Customers – they want the best quality for the best price, they constantly research competitors and only buy the best. They demand special offers, excellent customer service and for big companies to go the extra mile for them. How is this different to suppliers or employees point of view? AKA – the customers want more classes, more sessions, cheaper dance classes, - this goes against the owners as she wants to make a profit and have a minimum numbers of people attending classes otherwise she won’t cover costs. * Local community – they want clean environment, quiet peaceful living area, no rubbish – how will this influence aims and objectives? And how is this different to the other perspectives eg. managers who want to make a profit not pay for bins or plan for early morning deliveries). For AKA, local community want a place to go and visit but car park blocks a whole road when a show is on! * Shareholders and Directors – they want profit and high dividends – how does this compare to the other stakeholders? For AKA, this is not relevant. * Government – they want people to be employed in UK, they want to obtain taxes from large companies, they have initiatives to employ more young people or school leaving age – how does this affect Tesco’s aims? For AKA – Government offer grants to AKA – government want small business to engage segments of the community eg (autistic people) this may not be the pathway the owner wants to go – she may want to work with elderly people – how will the terms of a grant influence AKA’s objectives? * Trade Unions – they want fair, equal pay and terms and conditions for all employees, how does this differ from shareholders that want profit? For AKA, this is not relevant. * Employees – they want good working conditions, bonuses, good holidays – this contradicts against shareholders who want profit, or managers who want to spend money on products not employees staff rooms or lockers. AKA – employees may want better pay to compete with larger dance classes like Zumba franchises – owner cannot afford the higher wages so they have conflict. * Now conclude – this is where you summarise the different opinions of stakeholders and how important they are in making aims and objectives for EVERYONE not just owners or customers.
Remember – this is a MERIT task – grade C equivalent – detail and evaluation is the key!