E1 – The classification of Safeway as a business according to its ownership explaining the benefits and constraints of this type of ownership Being the fourth biggest food retailer in the UK and being one of the leading grocery retailers in the UK, Safeway’s intent as a business is to ensure that it has the best retail shopping experience. Safeway has 19 Regional Distribution Centres, which employ around 7,100 staff, including third party managed depots, managing the physical product flow of some 42,000 products to our stores, 11 million cases per week, representing 98% of retail sales.
Safeway is also known as a public limited company (PLC’s), this is described as company’s that can give share information to customers given in the daily press. Most companies start as private limited companies (Ltd) and become public; before this can be obtained a minimum of 50,000 in share capital needs to be obtained. Below looks at some of the beneficial steps (advantages) Safeway might have took in to the introduction as their brand name in the food retailer industry, and or including the process taken into the transformation as Safeway as a limited company: steps that would have been commandeered before becoming a Plc. “At Safeway, we intend to ensure that we consistently provide excellent value, stock the freshest food, provide you with the best customer care and have the best availability in terms of range and products”
Using Backup Information from the internet. I found this to be a good indication into a mission statement, including objectives and missions for Safeway. Giving a clear written description and analysis: At Safeway, we intend to Description and Conclusion “We intend to ensure that we consistently provide excellent value” Giving the customer it’s provided service at low prices compared to customer needs of their own and other food retailers. This sentence looks into the values of the products provided and stating customer satisfaction.
“Stock the freshest food” Shows the customer that the stock provided is crisp and served at the right level. As a sentence it indulges into the customers needs allowing them to realise that the company provides a fresh and clean service. “Provide you with the best customer care” Looks into the needs of what and how a customer thinks offering them with a higher standard of possible care and customer services. Gives a clear indication that the Customer always comes first. A good sentence values the use of the customer and there needs.
“Have the best availability in terms of range and products” State’s to the customer that the products and materials on offer have a best available range on the market at any allocated time. As an objective there would be proof needed to back this accusation or statement (best). If backed and compared with common and other retail outlets then this as a sentence could be the most valuable source a customer looks at. Aim: To create the best retail shopping experience for their customers. As previously mentioned a good sentence values the use of the customer and there needs. This is a good aim as it shows their first thought is their customer, giving the impression they are trying to create an environment In which their retail shopping becomes a more pleasurable experience.
A dictionary definition of an objective is a goal or a purpose. A business objective does very much the same thing as a Company or business sets out its goals to its customer hoping to increase sales with factual information and future prospects affecting the way the company operates. Business objectives flow from its mission and are the criteria against which its performance needs to be judged. They act as standard management targets against which performance can be measured and help to bring staff together – can be linked to pay/rewards. There are two types of objectives Short-Run and long-Run objectives, shown in the analysis below.
Objectives change over time depending on conditions in the external environment and on internal policies. There are 5 keys to a successful business objective: using an acronym SMART; Specific, Measurable, Attainable or Achievable, Relevant or Realistic and Time constrained. There are two types of objectives/targets that Management set; Quantitative and Qualitative objectives. Quantative objectives; are targets which can be aimed at. Every business is suggested and should have Quantative objectives/goals.
There are certain categories of these objectives fall in to, these categories are listed below: Production, Stock, Sales, Market Share, Profits, Growth, and Survival Qualitative objectives; provide a service to either the community or its staff. There are four main goals concerning these types of objectives: They provide a service to the community, Tend to develop a more skilled workforce, usually consist of charitable or non-profit-making objectives, and provide a high quality of products and/or services.
Below are many examples of long-term business objectives included and detained on the Safeway website giving descriptions and analysis of each: 1. The best promotional deals on those products which most of our customers regularly buy: A clear example of a Qualitative objective as it provides a service to the community at a shown non-profit making goal. People would consider this to be the case but under clever management I would see this to be a highly profited scheme. I give this reason because these products would increase in Sales due to the cut cost of their products. This is a very good sentence as it lures a customer in to thinking that such products as bread and milk will be cheaper conjuring them into trying Safeway’s out as their local retailer. On a larger scale the amount of customers lured into the realisation of this fact would amount to a huge increase in Sales, meaning more money into management’s pockets.
2. The best and most innovative fresh food offer: always seen as a highlight or main objective in a customer’s conclusion as the stock and food on offer is served fresh. As a sentence it indulges into the customers needs classifying this to be a Qualitative objective as it provides a high quality of products and/or services. 3. The best product availability, keeping our shelves full every hour of every trading day. Gives and provides customers with products and materials on offer at all times containing the best available range on the market at that or any allocated time. In my considerations I would state this to be a Quantative Objective distinguished or based under Stock. Most store/stock managers have a morbid fear of running out of either the components and raw materials, or the finished goods. This sentence does exactly the opposite bringing a clear and good reputation of there production/stock dept.
4. And the best customer service, in a warm, friendly store environment. As previously written in the mission statement this sentence is very much a like as it offers them with a higher standard of possible care and a customer service. As it provides a service to the community it is a Qualitative objective, but using differentiation on other sentences this targets the customer rather than the community as a whole.