Primark is one of the largest retailer in the Europe with more than 200 store across Ireland, the UK, Netherlands, Spain, Germany, Belgium and Portugal. Primark is also the part of Associated British Food. The significant proportion of Primark annual turnover is for ABF's revenue and profit. The main target of Primark's is that customer who are very conscious about fashion and also those who wants value for their money. Stakeholders are those who has direct or indirect their stake in the organisation. In the organisation there are so many different stakeholders like creditors, customers, directors, employees, government, suppliers, union and community. In the organisation considerations of every stakeholder are different.
Stakeholders of Primark:
Every stakeholder has their own rights in the organisation. In my point of view the main three stakeholder in the organisation are customer, supplier and employee. The needs and expectations of every stakeholder of organisation are different and the organisation have to full fill these needs and expectation for making the relationship fruitful. Customers: In the present world without customers a business would not exist. The main objective of primark is to achieve and hold the customer by providing good product and service and also offering them good value in terms of cost, choice, safety and environmental impact. In providing these services it can be supported by expertise of environmental, technological and commercial. Primark knows that every customers want value for money which they are going to spend the on the product and service. The key ingredients are Safety and environmental which have major impact on the research and development process. Increasingly customers, concerned about brand and cloth , require fashion and more efficient about the alternatives.
Employee: In the Primark stakeholder group the other important stakeholder is employees. In the three continents Primark provide employment to more than 7,00,000 . In It also include the senior management with managers specializing in finance, marketing, sales, and production and other aspects of the business. In the stores with the employees include branch ,manager sales assistant and team leaders. As employees are important stakeholders. Employees of primark are influenced but also affect how primark treat their employees. With the employees Primark commitment is good standard of work, clean and working environment and health and safety. Primark,s main priority is to respect the customer. With the positive influence on employees it keeps them safe and motivated.
Suppliers: As a Primark is very popular organisation and it is very famous for selling fashionable things in cheaper price. Primark deals with their suppliers very closely and also works very closely with their all factories staff that produce its goods. In the other countries where they have their factories and manufacturer they provide training to the suppliers, manufacturing plant and they also providing the training to their own buyers so then they can understand their rights e.g. primark always shows concern on issues like child labour and working through home in Asia. Primark also provide guidance to such kind of issue such as immigration and also in UK with the right of work. On the other side if Primark start working new suppliers then primark go through a process which is choose by primark for the new suppliers. In this process Primark go through the conditions of working are suitable and then they check if they need any improvements which is necessary they have to clarifies before they approved the supplier. In my point of view these three stakeholders needs and expectation are to be fulfilled. For fulfilling these needs and expectation organisation have to take some steps from which all these three stakeholders are satisfied and organisation are also satisfied.
Customers: Now a days customers plays an instrumental role for an organisation. In these days customers wants to deal them with friendliness. For example if any customer comes in the shop or store they greeted them graciously and warmly because it is good for customer and also good for organisation because customer would like to come again. Other thing which customer expect these days are understanding because if we understand what customer actually wants or looking for then we can provide them good customer satisfaction. In the other sense customer also like if we give also give them advice or information of product. Every organisation have to treated their customer fairly because no one wants to be treated as fall into certain category. In these days alternatives have to be their for customers if we provide good alternative then like to do buy the product or service from the organisation.
In these days company have to make sure they always try to happy these two stakeholders for run the business smoothly.
Employees: In the organisation employee is the other important stakeholder which provide labor and their services to the organisation. In these days if company or organisation is growing each year then every organisation is always worried about how employee think about their job and what they wants and their expectation because if the employees are happy with their jobs and everything then organisation is always in lead. In these days the expectation of employees are little bit change because what they want now is job security, good pay, clean work environment and good leadership with understanding. Now the new expectation of employees are also looking for pension and benefits after retirement. Every organisation have to do some survey within employees to know about the services and things which they provide them are enough good or not for the employees.
Suppliers: In the organisation supplier plays an important role because suppliers supplies the goods and then company sell them so organisation always have to look after the suppliers needs and expectation. In these days some suppliers wants the information about the demand of product, taste of customer, and supplies. Some suppliers also give responsibilities to the organisation to some survey or collect some data and give them information all what they want then it is easier for supplier to make new product and launch them in the market. On the other side the main suppliers customer needs are payment at time and order at new time. But if the organisation didn’t pay at time then the cycle of marketing can be stuck. Overall Every organisation have different stakeholders and also have different values of them In Primark has different stakeholders in the full fill their needs and expectation they are doing their best to make them happy.
Stakeholders of Primark:
- Suppliers: (third party and Factory producing goods)
- Customers: (want to know that the product they purchased are made ethically)
- Governments: (countries in which factories and stores are located)
- Trade Unions: (these are the bodies who representing the workers)
- Non-governmental Organisations: (provide help and solutions to worker's issues)
- Shareholders: (Investors of company or organisations)
- Employee: ( manufacturer of clothes)
- Communities: (Providing support and help) In the organisation every stakeholder is important.
Every stakeholder has their own rights in the organisation. In my point of view the main three stakeholder in the organisation are customer, supplier and employee. The needs and expectations of every stakeholder of organisation are different and the organisation have to full fill these needs and expectation for making the relationship fruitful. Customers: In the present world without customers a business would not exist. The main objective of primark is to achieve and hold the customer by providing good product and service and also offering them good value in terms of cost, choice, safety and environmental impact. In providing these services it can be supported by expertise of environmental, technological and commercial. Primark knows that every customers want value for money which they are going to spend the on the product and service. The key ingredients are Safety and environmental which have major impact on the research and development process. Increasingly customers, concerned about brand and cloth , require fashion and more efficient about the alternatives.
Employee: In the Primark stakeholder group the other important stakeholder is employees. In the three continents Primark provide employment to more than 7,00,000 . In It also include the senior management with managers specializing in finance, marketing, sales, and production and other aspects of the business. In the stores with the employees include branch ,manager sales assistant and team leaders. As employees are important stakeholders. Employees of primark are influenced but also affect how primark treat their employees. With the employees Primark commitment is good standard of work, clean and working environment and health and safety. Primark,s main priority is to respect the customer. With the positive influence on employees it keeps them safe and motivated.
Suppliers: As a Primark is very popular organisation and it is very famous for selling fashionable things in cheaper price. Primark deals with their suppliers very closely and also works very closely with their all factories staff that produce its goods. In the other countries where they have their factories and manufacturer they provide training to the suppliers, manufacturing plant and they also providing the training to their own buyers so then they can understand their rights e.g. primark always shows concern on issues like child labour and working through home in Asia. Primark also provide guidance to such kind of issue such as immigration and also in UK with the right of work. On the other side if Primark start working new suppliers then primark go through a process which is choose by primark for the new suppliers. In this process Primark go through the conditions of working are suitable and then they check if they need any improvements which is necessary they have to clarifies before they approved the supplier. In my point of view these three stakeholders needs and expectation are to be fulfilled. For fulfilling these needs and expectation organisation have to take some steps from which all these three stakeholders are satisfied and organisation are also satisfied.
Customers: Now a days customers plays an instrumental role for an organisation. In these days customers wants to deal them with friendliness. For example if any customer comes in the shop or store they greeted them graciously and warmly because it is good for customer and also good for organisation because customer would like to come again. Other thing which customer expect these days are understanding because if we understand what customer actually wants or looking for then we can provide them good customer satisfaction. In the other sense customer also like if we give also give them advice or information of product. Every organisation have to treated their customer fairly because no one wants to be treated as fall into certain category. In these days alternatives have to be their for customers if we provide good alternative then like to do buy the product or service from the organisation.
In these days company have to make sure they always try to happy these two stakeholders for run the business smoothly.
Employees: In the organisation employee is the other important stakeholder which provide labor and their services to the organisation. In these days if company or organisation is growing each year then every organisation is always worried about how employee think about their job and what they wants and their expectation because if the employees are happy with their jobs and everything then organisation is always in lead. In these days the expectation of employees are little bit change because what they want now is job security, good pay, clean work environment and good leadership with understanding. Now the new expectation of employees are also looking for pension and benefits after retirement. Every organisation have to do some survey within employees to know about the services and things which they provide them are enough good or not for the employees.
Suppliers: In the organisation supplier plays an important role because suppliers supplies the goods and then company sell them so organisation always have to look after the suppliers needs and expectation. In these days some suppliers wants the information about the demand of product, taste of customer, and supplies. Some suppliers also give responsibilities to the organisation to some survey or collect some data and give them information all what they want then it is easier for supplier to make new product and launch them in the market. On the other side the main suppliers customer needs are payment at time and order at new time. But if the organisation didn’t pay at time then the cycle of marketing can be stuck. Overall Every organisation have different stakeholders and also have different values of them In Primark has different stakeholders in the full fill their needs and expectation they are doing their best to make them happy.