Pre-release by Kornelija Valadkaite https://padlet.com/6055631_1/mgmmpvmtz9dcc6q0 en-us 2024-10-09 21:33:24 UTC 2024-11-27 10:10:48 UTC hello@padlet.com Meeting the objectives of external stakeholders (McDonald’s) 6055631_1 https://padlet.com/6055631_1/mgmmpvmtz9dcc6q0/wish/3161821265 NEED TO KNOW:

What is it?

An external stakeholder is someone who is outside of the company who are indirectly affected by its decisions and outcomes

For example

-customers

-shareholders

-pressure groups

Why is it useful to a business?

helps with understand customers needs and preferences,get information to improve the business products/services

]]> 2024-10-09 21:37:01 UTC https://padlet.com/6055631_1/mgmmpvmtz9dcc6q0/wish/3161821265 How business comply with the Consumer Rights Act (Waitrose) 6055631_1 https://padlet.com/6055631_1/mgmmpvmtz9dcc6q0/wish/3161824443 NEED TO KNOW:

What is it?

The Act gives customers a clear right to the repair or replacement of faulty products

Why is it useful to a business?

Avoids legal problems and assures customers about the quality of the products sold by a business


]]> 2024-10-09 21:41:52 UTC https://padlet.com/6055631_1/mgmmpvmtz9dcc6q0/wish/3161824443 SWOT analysis in action (IKEA) 6055631_1 https://padlet.com/6055631_1/mgmmpvmtz9dcc6q0/wish/3161826550 NEED TO KNOW:

What is it?

SWOT stands for Strengths,Weaknesses,Opportunities and Threats

SWOT analysis means assessing these 4 aspects of a business

Why is it useful to a business?

Helps assess internal and external factors that might affect the business

]]> 2024-10-09 21:44:49 UTC https://padlet.com/6055631_1/mgmmpvmtz9dcc6q0/wish/3161826550 external stakeholders (CUSTOMERS) 6055631_1 https://padlet.com/6055631_1/mgmmpvmtz9dcc6q0/wish/3171983239 what are their priorities?

-to get cheap food

-to get fast service

-to get vegan or more options for food

what are MC to meet their priorities?

-they do meal deals where they have drinks,chips and a burger or something different

-they also have an app where customers collect points to get free food

-MC have made a vegan burger and some other smaller items that are good for vegans (the McPlant)

]]> 2024-10-16 09:15:15 UTC https://padlet.com/6055631_1/mgmmpvmtz9dcc6q0/wish/3171983239 external stakeholders(SHAREHOLDERS) 6055631_1 https://padlet.com/6055631_1/mgmmpvmtz9dcc6q0/wish/3172013172 what are their priorities?

-to get a big return on their investment which they put on the business

-to have a voice in the business/share their ideas

-they want high sales to get better profit

what are MC doing to meet their priorities?


]]> 2024-10-16 09:37:11 UTC https://padlet.com/6055631_1/mgmmpvmtz9dcc6q0/wish/3172013172 external stakeholders(PRESSURE GROUPS) 6055631_1 https://padlet.com/6055631_1/mgmmpvmtz9dcc6q0/wish/3172034360 what are their priorities?

-to support their cause or take action on an issue by trying to influence a business to change

]]> 2024-10-16 09:54:21 UTC https://padlet.com/6055631_1/mgmmpvmtz9dcc6q0/wish/3172034360 SWOT(strength) 6055631_1 https://padlet.com/6055631_1/mgmmpvmtz9dcc6q0/wish/3177926464 One strength of IKEA is that they have created a new plant dog which is a vegan hotdog which helps include all of their vegan eating customers. As some customers comes for the food its good that IKEA has made a vegan food option. By having more inclusive options it will lead to more customers coming in for their food leading to a more higher profit.


Another strength is


]]> 2024-10-20 14:57:00 UTC https://padlet.com/6055631_1/mgmmpvmtz9dcc6q0/wish/3177926464 SWOT(weakness) 6055631_1 https://padlet.com/6055631_1/mgmmpvmtz9dcc6q0/wish/3177926899 One weakness that IKEA has is their high cost low quality items. Many customers say that their furniture is made with cheap materials and lead to the items breaking easily. Customers say that some items are very uncomfortable, easy to break and feel like it’s made from low quality materials. If IKEA doesn’t get better quality materials then more of their customers will go shop somewhere else.


Another weakness that IKEA has is their scandal regarding their wood consumption. IKEA is responsible for 1% of global wood consumption annually. Which many people are not happy about leading to IKEA having a bad brand image.


]]> 2024-10-20 14:57:27 UTC https://padlet.com/6055631_1/mgmmpvmtz9dcc6q0/wish/3177926899 SWOT(opportunities) 6055631_1 https://padlet.com/6055631_1/mgmmpvmtz9dcc6q0/wish/3177927570 One opportunity for IKEA is having a collaboration with Tesco’s. They have a click and collect point with tescos where people can buy items from IKEA and get them for a Tesco van near a Tesco shop. This is a great opportunity as it means people wont have to go far to get their IKEA furniture.


Another opportunity that IKEA can have is by expanding their bussines to places such as Asia. Most of IKEAs shops are in the UK and America. If they expand they would make more money and have a bigger brand knowledge around the world.

]]> 2024-10-20 14:58:21 UTC https://padlet.com/6055631_1/mgmmpvmtz9dcc6q0/wish/3177927570 SWOT(threats) 6055631_1 https://padlet.com/6055631_1/mgmmpvmtz9dcc6q0/wish/3177927845 A threat the IKEA face is that they have a particular aesthetic regarding their products and people nowadays have many different aesthetics that they want in their furniture. As customer preference change IKEAs stays the same which can be bad as less customers may want what IKEA is offering.


Another threat that IKEA face is their legal battles. In recent years IKEA were facing with poor working conditions allegations and many more different ones. By having these legal battles it means that money is lost but also it leads to IKEA having a negative brand association.

]]> 2024-10-20 14:58:46 UTC https://padlet.com/6055631_1/mgmmpvmtz9dcc6q0/wish/3177927845 Operational responses to rising levels of disposable income (Louis Vuitton) 6055631_1 https://padlet.com/6055631_1/mgmmpvmtz9dcc6q0/wish/3204362149 what are LV doing for the rich

-product portfolio-change-new direction

-beige/browns-now bright colours

the company had to change (in style)

people want different types of products

younger people-young celebs

very different


]]> 2024-11-06 12:19:17 UTC https://padlet.com/6055631_1/mgmmpvmtz9dcc6q0/wish/3204362149 The use of short-term sources of finance (Window Warehouse) 6055631_1 https://padlet.com/6055631_1/mgmmpvmtz9dcc6q0/wish/3204377971 Short-term sources are needed to get businesses out of trouble.

Examples:

-trade credit

-overdraft

-hiring and leasing

]]> 2024-11-06 12:31:57 UTC https://padlet.com/6055631_1/mgmmpvmtz9dcc6q0/wish/3204377971 Waitrose 6055631_1 https://padlet.com/6055631_1/mgmmpvmtz9dcc6q0/wish/3236517362 2024-11-27 10:10:47 UTC https://padlet.com/6055631_1/mgmmpvmtz9dcc6q0/wish/3236517362