Aims are the long term goals that are planned by the company to be achieved within a period of time and objectives are the steps or guidelines that help with the achievement of the aims. Marks and Spencer Marks and Spencer is a major British retailer that specify in the selling of clothing, home products and luxury food. Marks and Spencer is a public limited company because they sell shares to the public. The main aim of marks and Spencer is to maximize profit and become the world’s most sustainable major retailer by 2015.
Some objectives that they have set are to: Develop new brand identities Become an international and a multi-channel retailer Maintain and attract customers To train more people to have the experience in retailing business. How the Stakeholders Influence the Aims and Objectives of Marks and Spencer Stakeholders are a group of people or a person that is affected by the activities of the organization. Marks and Spencer has various stakeholders such as those stated in the introduction and I will explain how they influence the purpose.
CUSTOMERS: A customer is a person who buys goods or services from a company. Due to the fact that they do the purchasing of products and services from Marks and Spencer, they make sure whether the reduces they are purchasing are of good quality and they have affordable prices. It is through their purchasing that Marks and Spencer gain their profits. There are ways marks and Spencer use to know and understand concerns of customers. Market research avails the company to get a conception of the requests or wants of the customers such as surveys, questionnaires and others.
When a customer visits Marks and Spencer online, there is a page for survey where the customer is asked a couple of questions with a multiple cull answer. If the customers decide to stop buying the product the company will be at loss. In order to retain and maintain the customers, Marks and Spencer has given 50% discount on all prices for a period of time. The customers have a great impact on the aims of Marks and Spencer. Customers also want good customer service. In spite Of the fact that they know what they want and purchase them; they want to be treated politely.
EMPLOYEES: Employees are classified as the valued assets in a company. Without their efficiency or skills, Marks and Spencer would not be successful. If they provide good customer services, it is possible for the company to maintain and attract more customers. The employees are interested in good salary or wage and a stable job. If Marks and Spencer understand and takes the employees opinion in to consideration, the efficiency and the productivity of the employees will be high and it can take a good influence on their aim. To evade the employees from going on strike, Marks and Spencer do their best to maintain them.
Marks and Spencer compare their salaries to other retailing company and they ascertain they are competitive. They additionally reward the employees according to the work they have consummated. They give 20% discount to all employees and their elites also. This persuades the employee to work harder and maintain them. GOVERNMENT: They create policies or tax strategy governing business. They are interested in the amount of tax Marks and Spencer pay. Recently, Marks and Spencer won its Meme ($53) European Union court case for their right to reduce the foreign losses from its British tax bill.
The government is not only interested in the tax. They also show interest in job employment. They want to be sure whether they provide enough jobs for people to be employed and the welfare of the employees is well taken of. Not only do they ass tax laws, they also make laws concerning groceries and the right to the consumers. SHAREHOLDERS: Shareholders are also part of the ownership of marks and Spencer. They have made investment in the company and they have a big impact on the profits and the revenue of the Marks and Spencer.
If Marks and Spencer continue to make losses, the shareholders can decide to sell their shares or maintain it. This is because when the profit is high, their dividend also increases. Now that they have gain Million, their dividend will also surge. They are also interested in the growth or performance of Marks and Spencer. It the company performs well, they can predict how much the company can achieve. Last year, the dividend amount per share was 6. Pence but this year it has increased to 10. Pence. This shows the increase in the profit of the company.
SUPPLIERS: They provide the stock the company needs. They expect Marks and Spencer to rely on them in terms of distribution of goods. They make sure they provide good or quality product to avoid losing trust from the company. In order to keep the trust, the suppliers check whether the goods are in good condition before they are being supplied. They also have influence on the aims and objectives. SOFAS Sofas is a charity organization that is availing to make poverty history. That is they are helping people who are in need with elementary things in life like water, victuals, medicines and others.
They commenced their work about 70 years ago. Sofas is now serving people who have been affected by war, disease and other situations. They seek to make poor people live a better life and help children peregrinate to school. Sofas is an international charity but they are making a global impact. CUSTOMER: A customer is person who purchases goods and services of a company. They give funds to support the activities of the charity and they also buy from the charity. They donate in a form of clothes, food and money. Without their support, the charity will be in a difficult situation.
Because of the donations, the charity can supply goods to the other countries. Sofas has a shop that sells books, music, clothes and other stuff and when items are bought from shop, part of the profit gain goes into donation. VOLUNTEERS: People have volunteered to work with Sofas whiles others have been employed as working staff. The volunteers have different activities: They educate people on how to protect their selves from diseases. They help provide the supplies to people that need them. They attract more people to volunteer.
Because they want work for the compassion and to be experienced, the charity provides training for them and the charity also saves a lot of money instead of paying them. Their work helps the charity to get more funds from people and it has a good impact on Sofas. Sofas has over three thousand volunteers around the world that has been trained to develop incipient skills and that is the concerns Of most volunteers. EMPLOYEES: The working staff of Sofas has different activities contrary to the volunteers’ activities. Although Sofas is nonprofit organization, they pay their employees.