M1 Unit 1 Business Essay

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In this assignment I am going to discuss the stakeholders of two contrasting business’. Sainsbury’s: One important stakeholder is owners. The owners of Sainsbury’s they have it in their best interest to make the business as successful as possible by setting aims and objectives for themselves and their employees. They want to make the most profit they possibly can whilst keeping their customers and suppliers happy. If they do not meet their aims and objectives then this will mean that the business does not succeed. For the business to run how the owners want it to which will be efficiently and successfully they may be by keeping prices down so that all products match the customers price range. They will want their team to be reliable and to have a good quality and amount of stock for the customers. They would also want the store to be safe for the customers so that they have a good experience while inside the store. The influence that the owners have on the business is that they are able to control prices to stop customers going to rival stores meaning that with more customers coming to the store for low prices the profit will go up however if they do not do this then customers will…show more content…
The trade union is an important stakeholder because they fight for better opportunities for the members of staff in the business. They have it in their best interest to make the workers feel as happy as possible alongside the business meaning that they all work well and make the business as successful as possible. The main interest of the trade union of Sainsbury’s (Usdaw) is to make sure that the staff of Sainsbury’s are happy and willing to work at their best. If the staff are not working to their potential and they are upset about the way in which they are asked to work then they trade union will help them and may cause a strike. This then means that sainsbury’s objective of ‘keeping staff happy’ would be
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