P2- Describe the different stakeholders who influence the purpose of two contrasting businesses In this task I will be describing eight different stakeholders which are; customers, employees, suppliers, owners, trade unions, employer associations, local and national communities and the government. I will be stating what they are, who they are, why they useful, how they influence stake holders on organisation and why they are useful to business I have chosen which is Tesco and The British Heart Foundation. Firstly Stakeholder is an individual or a group who has an interest in the success of a business I delivering high results and maintaining the viability of the business’s products and services.There are internal and external stakeholders in every business. Tesco is a PLC and it is a global business, it is a supermarket which gives products and service. Tesco is the third largest retailer in world measured by revenues and second largest measured by profits. This is a British supermarket which started in 1919. Tesco is owned by shareholders and anyone could buy shares into the business, the share price is £341.41p. Tesco is divided in to five different formats, differentiated by size and what sort of products sold. Tesco is divided into Tesco extra, Tesco metro, Tesco express, Tesco petrol station and Tesco superstore. Tesco has 6351 stores in total.
Customers are also known as buyer, client or purchaser of a good, service or product. Customers usually buy products or a services form a supplier/business, it could also be the other way round. Customers could be male or females, they can be different age groups, different ethnic backgrounds or local or national all depending on where they are and the transport they use. Customers can purchase electronically and physically, electronic purchasing is when they purchase from ecommerce (online) businesses whereas physical purchase is when you physically go to a shop and purchase. Customers purchase to meet their needs and wants desires and requirements. According to Tesco’s customers they want good quality for cheap prices.
Tesco’s customers can do their shopping online as well as physical shopping therefore creates a chance for Tesco’s to gain more customers. Tesco is a global business therefore the customer number is very high. Tesco’s customers are driven by price. The higher the price the less customers it has. Tesco set prices of their products low because they face a lot of competition with other retailers such as Asda, Morrisons, Waitrose and Sainsburys. Tesco also have a club card system which attracts the customers because after purchasing for 3 months continually at an amount they get vouchers. Tesco’s also use another technique to gain customers which is “spend £50 or more and get £7 and 5p off petrol every litre”. This technique is very clever and useful as the petrol prices are going higher constantly. The influence is that if the customer is satisfied with the product then they will recommend it to their associates and vice versa. British Heart Foundation does not have a lot of customers because it’s not a retailer or a profit making business it’s a charity. However it’s connected to the health sector and NHS so it can easily gain a lot of customers. British Heart Foundation’s customers are usually heart patients, someone who has problems with the heart. Their customers could range from a new born baby to 80 years old because if a new born baby is born with heart conditions then they will be counted as their customers as their parents will purchase products from them. People that are interested in finding heart cures are also their customers. Their customers could also be local people because they sell toys, seasonal cards and gift sets. Customers are really important for British Heart Foundation because they help run the charity. British Heart Foundation customers are not driven by the price. This is because the prices are relatively low also people...
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