One commercial business which will be Primary and one business not for profit which will be the INS. In this newspaper article will describe the type of business, purpose and ownership of contrasting businesses. Finally will describe the different stakeholders who influence the purpose of the two contrasting businesses.
The first Primary store was opened by Arthur Ryan in Dublin in 1969 under the name Penne’s. Primary is an Irish clothing retailer who today operates in ever 270 stores. Primary operates in nine European countries, opened its first store in France in Paris in spring 2014 and will open the first US store in Boston in 2015. Primary tries to achieve the sell of diverse range of products from new born, kids, fashionable clothing for women, men, homeward, accessories, shoes, beauty products at the low cost of the market.
Primary operates globally this has a certain number of stores in many countries, including about 1 64 in England also has the largest Primary store in the world located on Market Street in Manchester with a retail space of 155 000 sq Ft bread over three floors, the extension of 50 000 sq Ft spread over the ground and the first floor makes us think that the purpose of Primary is always to show us the bigger picture by making immense stores, the stores are very spacious. One of the shops on Oxford Circus with an area of 82 400 sq Ft. Primary is involved in the secondary sector which is the sector of the economy that manufactures finished goods.
The secondary sector of the economy produces all of manufacturing, processing, and construction. The activities connected with the secondary sector comprise metalworking, automobile creation, textile production, chemical and engineering industries. Primary is also involved in the tertiary sector which is the segment of the economy that provides services to its consumers. The tertiary sector is also involved in the provision of services to other businesses as well as final consumers. Services may involve the transport, distribution and sale of goods from producer to a consumer.
The owners of Primary are Galen Weston who is the CEO and George, associated to British Foods. Primary is a private business, they are owned by private individuals or shareholders. Primary has hardliners with limited liability and its shares are not offered to the general public, it’s therefore a private limited company. A private limited company is a type of company that offers limited liability, or legal protection for its shareholders, the shares of the company cannot be traded on the stock exchange but that places certain restrictions on its ownership.
These restrictions are defined in the company’s by laws or regulations and are meant to prevent any hostile takeover attempt. The aims and objectives of Primary business are : To treat everybody the same ; To provide good quality products for the public ; To sell goods at reasonable prices ; To be friendly and helpful towards customers and staff ; The Primary mission statement is ‘to supply quality clothing at prices perceived to offer real value” and the purpose of Primary : it is to buy descent fashionable clothes and paying a low or reasonable price for the items.
The INS which is a not for profit business which started in 1 948, the INS has grown to become the world’s largest publicly funded health service. One of the most efficient, egalitarian and comprehensive, the INS generates a service with the main aim to improve the health outcomes for English citizens. The most common services provided by the INS in England are mental health services, emergency and urgent care, hospital services, dental services, GAP services, career services, pharmacy services, sexual health services, pathology services and social care services.
The services provided by the INS are free for UK resident with the exception of some charges, such as prescriptions and optical and dental services. The purpose of INS is to provide good healthcare to all, regardless of wealth. The National Health Service which is not for profit is one of the largest public sector organizations n the world. Not all businesses are set up to make a profit. Some just seek to cover the cost of running, the INS run on business lines by having paid workers.
The INS is a public sector businesses which is owned, financed and controlled by the state through government. They operate for benefit of wider public rather than to make profit. The English INS is controlled by the UK government through the Department of Health (DO), which takes political responsibility for the service. The UK Parliament sets the overall budget available to the INS in England. The INS is largely funded from general action with a small amount being contributed by National Insurance payments.
The aims and objectives of the National Health Service are : Provide a comprehensive range of services ; Shape its services around the needs and preferences of individual patients, their families and their careers ; Respond to the different needs Of different populations , Work continuously to improve the quality of services and to minimize errors ; Support and value its staff ; Use public funds for healthcare devoted solely to INS patients ; Work with others to ensure a seamless service for patients ;
Help to keep people healthy ND work to reduce health inequalities ; Respect the confidentiality of individual patients and provide open access to information about services, treatment and performance The mission statement of the National Health Service is ‘to provide patients high quality care for all and easy and convenient access to a GAP or nurse when they need it. The purpose of the National Health Service : it is to create the culture and conditions for health and care services and staff to deliver the highest standard of care and ensure that valuable public resources are used effectively to get the best outcomes for individuals, communities and society or now and for future generations.
Here we have two businesses which operate globally but with a different purpose, One is a business profit-making while the Other is a business not for profit. Primary which making profit provides a product while INS which not for profit provides a service. This businesses are involved in different sector, Primary is involved in the secondary sector although INS is a voluntary sector. Finally Primary is a private sector which is owned by shareholders contrary to INS which is a public sector which is owned, financed and controlled by the state through government.
This two businesses try to achieve different aims, operate in different locations, are involved in different sector and are also different by the stakeholders who influence the purpose of this two contrasting businesses. The stakeholders are a person, groups of people or organization who have an interest in a business organization. Stakeholders is anyone who can influence or is affected by changes within business. For example the key stakeholders are owners, shareholders, managers, staff or employees, customers, suppliers, community, government. However not all stakeholders are equal. A company’s customers are entitled to fair trading practices but they are not entitled to the same consideration as the company’s employees. Finally, some groups can be both internal and external stakeholders.
I will be describe the different stakeholders who influence the purpose of two contrasting businesses which are Primary and the INS. Shareholders Any person, company or other institution that owns at least one share Of a company’s stock. Shareholders are a company’s owners. They have the potential to profit if the company does well, but that comes with the potential to lose if the company does poorly. Owners : The number of owners and the roles they carry out differ according to the size of the firm. It’s a party that possesses the exclusive right to hold, use, benefit-from, enjoy, convey, transfer, and otherwise dispose of an asset or property.
In small businesses there may be only one owner (sole trader) or perhaps a small number of partners (partnership) while in large firms there are often thousands of shareholders, who each owns a small part of the business. Managers : An individual who is in charge of a certain group of tasks, or a certain subset of a company. A manager often has a staff of people who report to him or her. The managers organism, make decisions, plan, control, are accountable to the owner(s). The managers influences are the day to day running of the business, security and management of business assets, maintain their status and pay and control working conditions for employees. Employees or Staff A person who works for another person or business firm in return for a wage or salary and a business needs staff or employees to carry out its activities.
The employees agree to work a certain number Of hours in return for a Wage or salary and the pay vary with skills, qualifications, age, location, types of work and industry and other factors. Customers : The customers buy the goods or services produced by firms, they may be individuals or other businesses. The firms must understand and meet the needs of their customers, otherwise they will fail to make a profit or, indeed, survive. The customers can often have an influence on the product range, echo-friendly and ethical products but also on what the product looks like. Suppliers A party that supplies goods or services, the firms get the resources they need to produce goods and services from suppliers. Businesses should have effective relationships with their suppliers in order to get quality resources at reasonable prices.
A supplier may be distinguished from a contractor or abstractor, who commonly adds specialized input to deliverables. The suppliers can have an influence on when they will get pay and how, the regular supply of raw materials to make the product but also how much the raw materials cost and their quality. Community : The firms and the communities they exist are in a two-way relationship, the local community may often provide many of the firm’s staff and customers. The business often supplies goods and services vital to the local area but at times the community can feel aggrieved by some aspects of what a firm does. Government : A group of people that governs a community or unit.
It sets and administers public policy and exercises executive, political and sovereign power through customs, institutions, and laws within a state. A government can be classified into many types-democracy, republic, monarchy, aristocracy, and dictatorship are just a few. The economic policies affect firms’ costs (through taxation and interest rates), the legislation regulates what business can do in areas such as the environment and occupational safety and health. The successful firms are good for governments as they create wealth and employment The consumers’ expectations are higher today than ever before, they expect seasonable clothing at affordable prices.
Primary is at profit, profit is the difference between the revenue raised from sales minus the costs involved with making and or supplying the good or service. This profit can then be reinvested into the business. The main three stakeholders in the organization are customers, suppliers and employees. Every stakeholder has their own rights in the organization. The customers are necessary, without customers a business would not exist. All businesses must understand and respond to the needs of their customers, customer is king. The main objective of Primary is o providing good product and service with good value in terms of cost. Primary doesn’t do a lot of advertising and marketing however it relies on Customers to talk about its products and its business.
The Customers are stakeholders external to the business. Primary employs over 70,000 people across the globe. It also include the senior management with managers specializing in finance, marketing, sales, and production and other aspects of the business. The employees of primary are influenced but also affect how primary treat their employees. Primary which is ethical companies provide fair working conditions for its employees. Then Primary sources its products from countries like China and India, the workers in these countries are often be the most vulnerable part of the supply chain. But engages with workers and the communities in these countries is a crucial part of Primary’s ethical practice.
More, Primary’s work with workers and the communities often involves working with local non-government organizations who have the local knowledge to support Primaries initiatives. Primary engages with workers and the communities in which they operate through listening to the needs of workers and the challenges they face Primary has launched a number of aerogramme and initiatives to address those needs. Staff or employees are stakeholders internal to the business while community are external to the business. Primary provide training to the suppliers, manufacturing plant and they also provide training to their own buyers so that they can understand their rights.
Nowadays some suppliers wants the information about the demand of product, tastes of customer, and supplies. Some suppliers also give responsibilities to the organization to collect some data and give them all information about what they want then it is easier for the supplier to make ewe product and launch them in the market. But the main suppliers’ customer needs are payment on time as if the organization didn’t pay at time then the cycle of marketing can be blocked. The suppliers are stakeholders external to the business. To achieve their objectives, they need to develop effective relationships with all stakeholders. The INS has many internal stakeholders such as the doctors of the different services, nurses, managers.
To summarize all internal stakeholders are the people working inside the organization. Patients and the public are stakeholders external to the business, they maintain confidence in coal INS, develop understanding of issues, they contribute to the smooth running of the INS by paying taxes. The suppliers who are pharmaceutical industry, the bank (financial institution), local businesses have for predisposition to keep informed and for objectives to maintain confidence in local INS, develop mutual understanding, opportunities to reach local people. The suppliers are stakeholders external to the business. The community stakeholders group is disability partnership, voluntary and community organizations.
The predisposition of this stakeholders is involved in maintaining confidence in local INS, work jointly on involvement opportunities INS. The partners is also stakeholders to the business like the director of public health for Caldera, PH England, Health ; Wellbeing Board, local authority officers. This stakeholders are key player with for objectives of develop effective relationships, work together to achieve objectives, understand common interests, develop constructive relationships and understanding of issues, effective commissioning of services. Both organizations are completely different in terms of purpose, objectives, of activity sector. Every organization have different stakeholders and also have different values of them.