GCSE Applied Business Studies
For my investigation I have chosen two contrasting businesses, one is Richer Sounds who specialise in electronics such as Televisions, Videos, cameras etc. They are a unlisted public limited company (plc), which means their not listed in the stock exchange, it also means that they have no shareholders. They are located within the UK, but their stores are based in busy areas so that they have a good trade pass, such as the store which is located in central London, which is the first store that Richer Sounds opened.
Their activities are carried out through the internet, by mail order or direct form their stores. Their annual turn over is i?? 100 million. “They think that their customers are so important that they give coffee for free. ” My second business is Sainsbury who specialise in mainly food products. Sainsbury’s do sell non food related products as well. They are a plc company that also carries out their activities through the internet, telephone and their saver centres. Sainsbury are located internationally which means they have a really good trade pass. RICHER SOUNDS AIMS ; OBJECTIVES
Richer Sounds aims are to provide not just outstanding service or value for money, but both at the same time. They don’t want customers accepting poor service just because the product their purchasing is outstanding in anyway. They want to be a profitable company to ensure a long term growth and survival. At Richer Sounds they ensure to keep their staff hardworking they do this by paying staff good money and by paying them on time. Staff that make extra effort are rewarded by many different benefits and bonus schemes that Richer Sounds have on offer.
At Richer Sounds they have codes of practice to ensure that there is no harassment or discrimination in any way, this will make staff feel more safe and secure. Richer sounds use their profit wisely so that they don’t end up losing any of their stores which will make the staff redundant. Colleagues also benefit a share of the profit, due to they have been working for Richer Sounds for more than 3 months. Everyone who works at Richer Sounds has a say for future improvements in the company, this is done by every member of staff having a suggestion pad, and all the suggestions are read by the company chairman, Julian Richer.
Richer Sounds profits are also used towards financing future improvements and developments to the company, which ensures secure, well paid employment for the staff working at Richer Sounds. Richer Sound’s main objectives are to open between four to six stores in the current year. Develop the audiovisual home cinema range, by selling two to three plasma TVs each week. Their activities are carried out through the internet, telephone and deliveries are made vans. They want to continue to keep the business fun; this is done by a yearly colleague attitude survey.
To keep the level of excellence of their customer service above 90%, this is for the company as a whole, this is done through their customer till receipt questionnaires, and to control costs by keeping it in the budget levels. RICHER SOUNDS MAIN ACTIVITIES Richer Sounds are in the retailing business sector. They operate only in the tertiary sector which means that they only sell products; they don’t manufacture the products themselves or make it from the raw materials, they sell electrical related goods such as hi-fis, home cinema systems and plasma screen TV’s etc.
They have competitors such as comet & Dixon who also sell electronic equipments. Richer Sounds are different because they specialise in specific types of equipments, they don’t just any ordinary equipment. Richer Sounds employ people who are keen and have knowledge on specific electrical related products and they train their colleagues so that they understand everything about the products that Richer Sounds sell.
SAINSBURY’S AIMS AND OBJECTIVES Sainsbury’s aims are to be the UK’s first choice for food & grocery shopping. They do this by offering quality food & products, and best value for money. Providing quality food is something they were always best at, customers gave positive responses to Sainsbury’s renewed focus. Their mission statement is “to be the consumer’s first choice for food, delivering products of outstanding quality and great customer service at a competitive cost through working faster, simpler and together”.
Employees at Sainsbury are being trained to give outstanding service and their quality of food is always being checked to ensure the customers are not just satisfied with their products but are so impressed that it makes them return for more. This is one of the ways they meet their mission statement. Another way is that they have introduced a new way of providing great service that’s called “scan and pack”. This idea whereby the checkout operator scans and packs, this helps the customers get through checkout quickly and efficiently causing less hassle.