Greggs Introduction History on Greggs Greggs plc is a bakery retailer in the United Kingdom; the Company has approximately 2,000 shops, supplied by approximately 10 regional bakeries. Greggs is owned by John Gregg, who set up the business in 1951, when he opened a small bakery on Gosforth High Street. Ian Gregg then took over the family business in 1964, where the business developed a reputation for good quality and great value. The business had expanded to over 260 shops by 1984, and today they have nearly 1,600 shops and are planning to open 600 shops over the next few years. There is a range of fresh bakery goods that Greggs offers to their customers, such as sandwiches and drinks in its shops. In addition to this it also provides frozen bakery products to its wholesale customers. The Company's operations are managed through an integrated supply chain, with over seven retail regions. Greggs are passionately about making great quality, delicious tasting food that customers can enjoy as part of a healthy and balanced diet. a) Examine the business practices of your chosen organisation and consider whether these activities demonstrate responsible corporate behaviour. When discussing responsible practices within businesses it is important that these are carried out throughout each of the business sectors, these include the Marketing sector, Operations, Human Resources and the Finance sector. I will be investigating the practices that Greggs have put in to place for each of these sectors and how they affect the business. Marketing Some of the practices that Greggs have implemented throughout the marketing sector, in order to be responsible business is how they price their products. Greggs have many different products, whic... ... middle of paper ... ... about making profit, but they are also legal and obey the law, but they are also ethical and operate ethically. Meaning that they do more than is asked for them as a business and what they legal objective to. From this CRS pyramid Greggs would be at the top. The one change that could be made is that is raising the prices of the products then Greggs should not reduce the size and keep them the same. This is because the customers do not expect this standard from the company as the consumers are paying more money for less product. It is also easy to monitor the performance of the company because targets are set out each year and are out online for anyone to see and at the end of the year, Greggs put what they have done online and whether this target has been meet. If the target has not been met then other plans are set in motion for this target to then be met.
Ben & Jerry’s Homemade Holding Inc., commonly known just as Ben & Jerry’s, produces ice cream, frozen yogurt, and sorbet. Founded in Burlington, Vermont in 1978, the company is a subunit of the Unilever mega-company. Founders Ben Cohen and Jerry Greenfield created the company after completing an ice cream making course at Pennsylvania State University’s Creamery. In May of 1978, with a small investment totaling a little over ten grand, the two business partners opened an ice cream store in Virginia. Two years later, the two took their talents and started packing their ice cream into pints. In 1981, the company became a franchise, opening their second store in Shelburne, Virginia. Today, Ben and Jerry’s locations have expanded across the globe.
Lantos, GP, 2001, ‘The boundaries of strategic corporate social responsibility’, The Journal of Consumer Marketing, vol. 18, no. 7, pp. 595-639.
There are many different factors which affect the way companies operate and the policies they adopt. This essay will investigate and outline some of the different social, cultural and ethical issues which are relevant to Tesco Plc’s operation. This essay will begin by investigating into social attitudes of the customers and also the social trends of customers which affect the company’s social policies. It will explain why there was or is a problem, how it could be solved by adopting a particular policy. It will then investigate into cultural tastes and preferences of the customers, as well as the low unemployment of UK culture which affect the company’s cultural policies. It will explain why these cause cultural issues and suggest polices which provide a solution. Finally it will analyse the waste creation and disposal of the company and also their farming supplies which are two ethical problems the company has faced and explain the policies that were used to solve the problems.
However, because of its demographic it was losing a high customer base because of its prices. The text book Chapter 10 emphasized the importance of pricing and creating profit. The investor Marcus Lemonis showed the owners how to evaluate demand and the price sensitivity of their products. He introduce product that could be brought in with lower price points that would compete with their competitor and still crate the high-end prestige the company wish to create. Taking advantage of the income statues of the company’s customer with in their demographic. One major problem the company had was the price point of a bag of dog food was around $100 per bag that was a high price for the consumers within the area. By bring in a brand that had high quality and prestige at a price point of $20 allowed for a greater customer
So before we go in greater detail on the different perspectives related to social responsibility, one might question the meaning of social responsibility. It is generally agreed that social responsibility is defined as the business obligation to make decisions that benefit societ...
Introduction The purpose of this report is to undertake financial analysis of the position of the three major supermarket chains (Tesco plc, Morrison plc and Sainsbury plc) in the UK, using the financial tools such as Horizontal and Vertical Analysis and Ratio Analysis. The calculations done are considering the figures from the income statement and balance sheet of these three companies for the last 2 years (2008 & 2007). Doing these calculations is an effort to find out the current position and if any forecast on their performance. Tesco Plc *Interpreting the Horizontal and Vertical *Analysis The balance sheet’s horizontal analysis reveals the first worrying statistics about the company- the fact that stock level has increased by 25.84% in the year, even though net assets have increased by only 12.59%. The vertical analysis of the balance sheet again highlights the increase in amount of stock held by the company at the end of 2008 and increase in current assets. Interpreting the Ratio Analysis By looking at the ROCE* ratio it is clear that the business has not generated any higher return in the period 2007-2008. Though there is a marginal decrease in the returns (0.14% from 0.16%), however when compared with returns of other competitors Tesco plc has performed much better. Drop in asset utilisation ratio in the year 2008 indicates that the company did not use its assets efficiently to generate sales. As a result profit margin dropped down to 5.91% in 2008 from 6.21% in the year 2007. The Acid test ratio also doesn’t meet the ‘ideal’ ratio of 1:1. In other words Tesco had only 38p of quickly realisable assets to meet each £1 of current liabilities. Stock turn shows the effect of increased stock at the end of 2008 as it s...
Success of the plan In Kraft’s Food Corporation the planning analyst and the other business departments work together in close communication. This aids in the development of a system that allows business activities to align with the corporate goals and targets. The company is also building its performance around successful people by assuring that the plan is tied with the system that involves the use of practically tested strategies. Shared decisions of all the departments including finance and production departments help adding value to the business by improving its competitive place in the market.
Since going public in 2000, Krispy Kreme Doughnuts has posted strong growth in same-store sales each quarter, with a consistency that would make most competitors envious. According to the Krispy Kreme’s most recent quarter, which ended August 3, 2003, it posted an 11.3 percents rise in system wide same-store sales, including 15.6 percents growth at company operated units (Peters, 2003). From the financial report of second quarter in 2003, it could foretell there would be more earnings growth in the future as long as Krispy Kreme finds more new markets in which to launch doughnut shops. Its average weekly sales are in large determined by newly opened stores. This also demonstrates that the doughnuts specialist’s soaring results and rise to the top echelon of industry performers can be attributed to successful expansion.
McDonalds is one of the largest food chains globally and in the U.S. It has one of the most recognized symbols with the golden arches. There are more than 34,000 local McDonalds around the world and they serve approximately 69 million people in 118 countries every single day. They also spend about two billion dollars on advertisements each year. The ethical issue that I want to address in this essay is whether or not McDonalds is ethical for advertising and selling obese and unhealthy foods to its customers. I believe it is important to explore this organization because McDonalds is one of the largest and most well-known food chains around the world. It is important to know that an organization as successful and large as them is also ethical with their approach. If a corporation as successful and profitable as McDonalds can be ethical with their selling and advertising schemes then just about any other organization or corporation striving towards that same goal can be too.
Sainsbury’s (2014) states they put their “customers at the heart of everything we do and have invested in our stores, our colleagues and our channels to deliver the best possible shopping experience. Our strong culture and values are part of our identity and integral to our success.” Sainsbury’s brand is established upon providing quality at fair prices, the importance of fresh, healthy, safe and tasty food is put very high at Sainsbury’s. Sainsbury’s also offer a range of up to 30,000 products such as household products, food, grocery, and even its own products.
The food and staples retailing is an increasingly competitive industry. The market giants (competitors) are Coles (owned by Wesfarmers) which has 741 stores across Australia and plans to add 70 m...
The Baked Potato Restaurant will be a moderately priced 75 seat fast-food restaurant located in the beautiful city of London, offering family style menu and other different baked potato menus. The Baked Potato Restaurant new to the London area and have diversification opportunities by offering new food products in the new market. A major challenge facing baked potato is how to attract new customers, increase profits and make better use of its resources during the initial stage. As a new restaurant we face competition from the giants in the fast food industry.
UK’s exit from the European Union following the Referendum on 23rd June 2016 has exerted tremendous and profound impact on UK grocery industry. Many experts warn that devalued sterling will force the prices to go up and bring a tough time for the industry. However, Lidl, a German no-frills supermarket, has emerged to be the fastest growing supermarket with a 12.2 percent increase on sales from June to August (Denton, 2016). In the early 90’s, Lidl opened its first UK store. Insisting on providing qualified products with low prices, it has expanded rapidly in UK and owns more than 640 stores now. It also won the 2016 Good Housekeeping Awards as the Best Supermarket (Lidl, 2016). With no doubt, Brexit greatly changes the business
The organisation should also display ethical behaviour towards its stakeholders which is important for building long-term relationships with its customers.
1. This report seeks to prepare an explanation of what is meant by responsible business. It will be focused on a responsible business topic and also the nature and the importance of it will be discussed as well. The first responsibility of a business is how to gain and increase its profits. This is essential for a business in order to be healthy. So this report will show and explain what a Responsible Business is really in nowadays and how they operate under some circumstances. Then will follow an explanation and evaluation of the role of the government as an influence on responsible business behaviour. After that it continues with a review and evaluation of influences of ethical businesses approaching to responsible business.