Types of Business Assignment - (NHS)

Added on - Nov 2020

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REFLECT ON HOW THE VARIOUS TYPES OFBUSINESSES MEET THE OBJECTIVES OF THEIRSTAKEHOLDERS
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1PRIVATE ORGANISATION- ICELAND (SUPERMARKET)................................................1PUBLIC ORGANISATION- NATIONAL HEALTH SERVICES (NHS)................................3VOLUNTARY ORGANISATION- OXFAM............................................................................5GIBB's MODEL OF REFLECTION...............................................................................................6CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
INTRODUCTIONBusiness is the activity of making one's living or making money producing or buying andselling products such as goods and services. The purpose of the business is to earn high profitand sales. Stakeholders are the key people to achieve success within organisation as they caninfluence or be influenced by the actions, objectives as well as policies of the company.Stakeholders are suppliers, employees, creditors, directors, shareholders, unions, government andthe community form which the business draws its resources (Grayson and Hodges, 2017). Thispresent report will reflect on how the various types of business such as private, public andvoluntary organisation can meet the objectives of there stakeholders. Iceland Supermarket isbeing chosen for private organisation, National Health Services England (NHS) is being chosenfor public organisation and Oxfam is being chosen for Voluntary organisation.MAIN BODYPRIVATE ORGANISATION- ICELAND (SUPERMARKET)Overview of the companyIceland Foods Ltd is a British Retail Supermarket chain bases in Wales which wasfounded in 1970 by Sir Malcolm Walker. The products of company are Frozen foods andGroceries. There are 23000 employees are working in the organisation and the net income is£160 million. Iceland company has an approximately 2.2% share of the UK food market (Carrolland Buchholtz, 2014).PurposeIceland is a private limited company. The main purpose of Iceland company is to survivein the market by high profit. They want to raise the satisfaction of their stakeholders byproviding effective products and services.ScopeShares are non-transferable.At least 2 directors are needed.Limited liability.Separate Legal entity.Porter's Five Forces Model1
This is one of the best model that defined the competitive advantages of company as wellas how they meet the objectives in the market.Competition-Iceland company is operating in the retail industry and the competitiveforce is very intense in this industry. Iceland supermarket is also facing intense competition inthe market from Walmart and many other companies (Bendell, 2017). The threat of competitionis very high in United States in retail industry.Power of Suppliers-This is the pressure which is exerted by the suppliers on thecompany in order to raise the prices of raw material. The power of suppliers in Iceland companyis very high because of quality of raw material but in order to control the bargaining power ofsuppliers Iceland supermarket has maintained contract and relationship with more suppliers.Power of Buyers-This is the pressure exerted by the buyers of the Iceland company toreduce the price of the products. The bargaining power of buyers is high in the Iceland companybecause customers have high scope of switching to others. The products which Icelandsupermarket is selling is easily available in the market, thus the power of buyers tends to high.Threat of Substitutes-The existence of substitutes will definitely affect the attractivenessof the Iceland company as well as lower the profitability. It is because the substitutes straightlyaffect the prices of the gods as well as the demand for the good from the customers too(Posavac,2015).In retail sector, the threat of substitutes is very high because easy availability of theproducts.Threat of New entrants-The new entrant's means how it is easy for a company to enter inthe market. In retail industry, it is not easy that company can easily enter in the market becausecapital investment, infrastructure setup is very high in opening a retail supermarket. Thus, it islow in retail industry and in Iceland company.Stakeholders MappingStakeholders analysis is the key part for the management of stakeholders. It involves theidentifying, analysing as well as prioritising the company along with people with a stake in thecompany. Stakeholder mapping helps to manage and communicate with the stakeholders of theorganisation effectively (Dees, 2017). Here are four steps which is used by the Iceland companywhich are as follows-2
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