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Stakeholders and their role in(selected organisation) - Essay Example

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Founded in 1924, Tesco is the largest retailer in the UK market as well as the largest UK based international supermarket chain with 1,780 stores in the UK and 586 outlets internationally. Tesco’s organisational mission is to work hard to create value for customers to earn…
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Stakeholders and their role in(selected organisation)
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Download file to see previous pages Tesco is highly performance driven company and this is reflected in their outstanding financial performance with a reported growth of over 15% growth in its revenue reaching £ 34 billion in year 2005 and a widely publicised operating profit of £ 2 billion.
Organisations differ in their key aims and this can be noted by contrasting the key aims of Tesco Plc. with another organisation. Hilton Group Plc is a widely diversified UK based multinational. Its operations include Hilton & Scandic Hotels, LivingWell Fitness Centers and the Landbrokes & Vernon betting & gaming operations. In contrast to Tesco Plc., the Hilton Group Plc. is a widely diversified operation with several core operations instead of the single core operation of Tesco, which is retailing. Hilton Group Plc.’s key aims are split across its three core business areas and includes:
Comparing the two company’s key aims, it can be seen that depending on different industry conditions as well as company structures and operations, their key objectives will vary. If the industry outlook is bright and offer high potential for growth as in the case of retailing, then the firm may have key aims of aggressive expansion and market share increasing. However if market outlook is dull with sluggish growth conditions as in the current case of hotel and leisure industry, then key aim will be to consolidate and sustain while divesting some of the unprofitable operations.
In conducting its operations, companies cater to the needs of many stakeholder groups. An organisation’s Stakeholders are persons, groups or institutions with an interest on the company’s operations and are affected by its operations. These key stakeholders include company, suppliers, competitors, marketing intermediaries and the Publics (Armstrong & Kotler 2000).
The company comprises of its shareholders, employees as well as the top management. Objectives of these stakeholders ...Download file to see next pagesRead More
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