Candidate Name: Ryan RobinsonCandidate Number: 2136TitleMETHODOLOGY

Information NeededTASK 3 Legislations & Stakeholders

Where from?How will I use this information?Gather research by?Completed further notes?

Choose business to focus onI will need to decide which businesses I want to study for my assignment

My own choicesI will use this information so that I know what businesses I will know to conduct research onYES

Relevant stakeholders of chosen businessI will need to know the different stakeholders that my chosen business has

Questionnaire I will use this information to write about and research the stakeholders of my businessYES

Role and responsibility of stakeholdersI will need to find out about the role that the different stakeholders play in the business and also what their responsibilities are

QuestionnaireInternetNotes from lessonsTeacherI will use this information in order to explain the role and responsibility of each stakeholderYES

Ranking of stakeholders in order of importanceI will need to rank the stakeholders in my business in order of importance.

My own decisionsI will use this information in order to rank the stakeholders of my businessYES

Stakeholder conflict

I will need to know an example of a time when the interest of different stakeholders in my chosen business have conflictedQuestionnaireInternetI will use this information to give an example of a time when the interests of stakeholders has conflicted.YES

How does the business attract new customers?I will need to know what my business does in order to attract new customers and be able to give examples of these.

QuestionnaireInternetI will use this information in order to explain and give examples of what my chosen business does in order to attract new customers.YES

How does the business retain existing customers?I will need to know what my business does in order to retain existing customers and also be able to give examples of this

QuestionnaireInternetI will use this information in order to explain how my chosen business retains customers and give examples of thisYES

Select two pieces of legislation to studyI will need to choose two pieces of legislation to research for my assessment.QuestionnaireInternetNotes from lessonsI will use this information in order to decide what research I need to do on legislation.YES

Describe how these laws affect the businessI will need to be able to describe how the business is affected by the legislations which I have chosen to study.QuestionnaireVisit to businessI will use this information in order to describe how the legislations I have chosen affect my chosen businessesYES

Explain the extent to which the business is affectedI will need to be able to explain the extent to which the business is affected by the legislations I have chosenQuestionnaireVisit to businessI will explain the extent to the legislation I have chosen affect my business.YES

TASK 3 Legislations & StakeholdersSTAKEHOLDERS A stakeholder is a person or group that is interested in a business or organisation. There are loads of stakeholders such as employees, owners, government, customers, financiers, social community and suppliers.Stakeholders are very important and the business needs to consider the needs of their stakeholders needs to be considered by the business because they do a lot of jobs to keep the business up and running. For an example, employees help the customer make a right decision whether to buy a certain product in the shop. Another example is that the owner of the Westfield shopping centre has to go through the government before making any changes towards the company or changing any critical rules that would apply towards the whole stakeholders.STAKEHOLDERS ROLES AND RESPONSIBILITIESOwners The role of the owner in the Westfield shopping centre is to make decisions about how the business is going to run and how it is going to operate on a day to day basis. They are responsible for making the business run efficiently by sorting out all the paperwork and making sure nothing that is non-confidential or confidential is not passed its due date for confirmation.Customers The role for the customers in Westfield is to buy the products that the owner has ordered from the suppliers. They have an optional role and that is to sign up to deals and promos. E.G I would sign up to Tesco points to get extra points when I shop online. They have a responsibility of keeping the shopping centre tidy and dispose of litter in the right manor. Employees Employees have a role at the Westfield shopping centre to take on the role of replenishing stock, complete certain paperwork and help customers look for a certain and specific product and also educate them about the product so that their customers would have a good understanding of what they are spending their money on. They are responsible for making sure that customers do not cause any trouble in the shopping centre and also make sure that they follow all the security procedures.Financiers The role of a financier or financiers at Westfield shopping centre is to lend out money to the firm when they are close to going under. Their critical role is to make sure that the company has substantial amount of money to run the business smoothly. Their responsibility is to try their hardest for Westfield not to go bust and lose all their merchandise.Suppliers What a supplier does is that it supplies Westfield with the goods needed to sell to the customers to get a big sales turnover at the end of a certain year. What they do is that the owner of Westfield organises dates in which specific items gets delivered to the service floor then the owner organises a schedule date for them to come. If the suppliers and the owners get friendly, the suppliers could do a little discount enabling the reduction of price to the customers. The responsibility of the suppliers is to arrive on time with the goods and try their hardest to make sure that products that are ordered are not damaged.Government If Westfield gets on the wrong hands of the law, the government will come down hard on them and they could potentially get fined a hefty bill! The role of the government is to make sure that Westfields knows all the rules and regulations of the law and make sure that all the Westfield branches that are spreading around the world pays their share of tax and other expenses that could contribute towards the tax. The responsibilities they have to take on are to not increase certain taxes and expenses that the company Westfield is paying without long notice.Local Community - The local community has a basic role and that is to spread the word about Westfield and how much good quality merchandise and cheap goods are there. Their responsibility is not to spread rumours about poor customer service or something like that. Something that its not true.Each stakeholder needs to know what their role is and it is very important to know what the stakeholder is meant to be doing otherwise things can get really messy. If each stakeholder does not know that they are doing then Westfield would not run efficiently and will effectively lose out on their profits. It is important that they are aware of what their roles are because each stakeholder has its own responsibilities and if they dont know their own role then the Westfield shopping centre would start to get complicated and things such as the whole job of maintaining the popularity would become a mess.STAKEHOLDER RANKINGSGovernment This stake holder is the most important because the government has more authority than all the other stakeholders and they control all the laws and general rules such as the regulations and other stuff.Financiers - This stakeholder comes 2nd because this stakeholder manages all the money for the business such as the sales turnover for the 2 years or 1 year and they also control the amount of loan they give out.Owner This stakeholder comes 3rd because this stakeholder controls the whole company which is Westfield. The owner runs things in the business. The owner is the highest in the hierarchy pyramid meaning that the owner can promote and demote staff that are lower that the owner.Suppliers This stakeholder makes sure that goods come into the business so that the customers can buy it of Westfield and Westfield would make a profit of it. If there were no suppliers in the company, the firm would not survive.Employees This stakeholder makes sure that the customers are happy. They provide a service to the customers by selling the customers the goods and also helping them around the shopping centre.Customer This stakeholder buys all the goods that the suppliers supply to the business. The customer is the reason why Westfield is still alive. The customers bring in the money by buying goods of the employees and other services that Westfield runs.Social This stakeholder is not as important as all the rest of the stakeholders but its still important. The social stakeholder creates more customers to visit Westfield and spend money in there.All the decisions happens in chronological order. It would go through the high priority to low priority. Lets say from the government to social. All information that has been set by the government will go down the pyramid hierarchy.I disagree. I think that all stakeholders are important to the business because all of the stakeholders has a certain role in the job. If one stakeholder is affected then the whole company would feel pain .STAKEHOLDER CONFLICT Stakeholder conflict is when a disagreement occurs between two stakeholders that are involved in the business. This is because they have different interests that can clash.One example of conflict between stakeholders in Westfield would be between the owners and the suppliers. The owner of Westfield will want to know what the suppliers have done to result in the horse meat getting into the beef burger. There would be a loss in revenue and profit as Westfield would stop buying from that stakeholder and lose money. This would have an impact on the social stakeholder and Westfield shopping centre because the word would spread around and then lose reputation and popularity.Another conflict between stakeholders for Westfield would be customer and employees. The customer might want to thief something from the shop and the employee that caught them might want them to put it down but they dont so it causes a stand-off. As a result, it would cause a scene and people might get hurt.It is important to resolve conflict between stakeholders because if you dont, they would not do any deals for the company; affecting the customer meaning that the company would lose money.ATTRACTING CUSTOMERSThe term attracting customers means persuading new customers to use the businessOne method is advertising. This method is advertising. This attracts customers by showing them on a television what new goods is in store and the latest offers they have to give to the customers and also promotion deals on specific items. Another method would be to move to a more populated location so that more money would come in for the business. This would attract rich people to the shopping centre and more money would go in the company. Also, new shops would be available. One last method would be to build more shops inside the Westfield shopping centre. This will attract new and existing customers towards the business. The new shops would make sure that customers would get more and new stuff. It is important for a business to always be looking for ways to attract new customers is because they want more and more customers. The more customers, the more more money will come into the company. Its also important because they want it to the word that Westfield is located in a popular location and that there is loads of things that are interesting there.MONITORING BUSINESS COMPETITIONThe reason why its important to monitor the businesses competition is because another competitor might be selling something the same as what Westfield is selling but for cheaper and their competition is selling more that Westfield. If Westfield was keeping track of all the things their competitors sell and the services they do, The Westfield shopping centre would have a better chance of getting more sales that their competition. They can also attract customers by adding a new design to their shopping centre that their competitors dont have. Westfield can also look at what services their competitors are running and compare it to their own and moderate it to make it better than their competitor to make it better and earn more money.RETAINING CUSTOMERSThe term retaining customers is when you keep a customer in the business by doing promotions and other stuff. One method of doing this is getting a parking reward card so that you either get a reduction of the price of you get a couple of hours free in the shopping centre. This retains customers by making customers that buy their goods and products at Westfield get a free parking space or a 50% reduction. Another thing that would keep customers is if you park 10 times in Westfield, you get 2 days free. Another method that would retain customers is to have a high level of customer service. This method would make sure that the customers at Westfield are heard and are always being talked to. They are also not left on the phone on hold. The customers would have a chance to express his feelings and the people that are in the customer service department would take it into consideration and make a decision.One final method that Westfield should use to retain customers is to build more shopping stores in the shopping centre. This will keep customers by adding something new to the mix of shops. The customers of Westfield would be eager to visit that new shop and see whats in store especially designer shops and technology shops. Its important to retain customers because the old customers would be willing to spend their money on goods because they would know that it is good quality. Its also good to retain customers is because the customers can keep track of what new products there and the customer will know that the service is reliable and would buy a service. Its also good to retain customer because the business can earn a better reputation and earn even more money.The extent that the customer service takes to retain customer is by making sure that they are polite on the phone and make sure that they approach the customer with reasonable news and also make sure that they resolve issues that customers might have with a service or product of Westfield. The customer service department also tries to get back to the customer if they have cut off. This would ensure that the customer is happy.

Legislation 1: Employment rightThe laws relating to employment rights have given all employees the right to receive a written contract, the right to have maternity leave and paternity leave, the right to have parental and family leave and also the ability to opt out to work on a Sunday. You will also have the rights to work flexible hours; hours that suits you.LEGISLATIONThe working time regulations restrict the number of hours employers can be asked to work per week sure that no staff in the firm or business can work in ling hours with a poor condition. E.g. go ventilation, uncomfortable places and health and safety violations.EMPLOYMENTThe legislation that I have chosen is employment rights because staff that are employment rights because the staff that are employed in the Westfield shopping centre needs to have rights and responsibility so that the business can run efficiently. This legislation will effect Westfield because they would have to make sure that every contract that a employee signs is legitimate and that has rights that are good to the staff and that also comply with the health and safety policy with all staff and also make sure that if you are made redundant, you will get paid off. If Westfield do not comply with this legislation, Westfield will have trouble with the government and also staff would leave the job and as a result of that, Westfield will loose money. The government will also come down hard on them and let them pay a fine and the company will also loose reputation. This legislation will have a huge impact on Westfield if they do not follow it as the government will shut down Westfield.WORKING HOURSAnother legislation that I have chosen is working hours because I think that this is the most important to the business. This legislation will affect Westfield because they would have to comply with the staff about the working hours. They will also have to work out how much money a staff would get paid on a sick day and also on a holiday. The working hours legislation also makes sure that they start work and finish work at a reasonable time. If Westfield does not comply with this legislation, the government will come down hard on them and they will give them a warning but if they do it repeatedly, they could be exposed to the local community and that would lower the reputation of Westfield meaning that they would lose customers and not retain customers as well. That would eventually lead to the decrease of sales turnover at the end of the year. KEEPING UPTO DATE WITH LEGISLATIONSIt is very important for Westfield to keep up to date with the latest legislation because this will ensure that they are not breaking any rules by not following a new legislation. If Westfield keeps up to date, they would not accidentally break rules and get into any trouble unless they do it purposefully. BIBLIOGRAPHYhttp://ico.org.uk/what_we_cover/legislationhttp://en.wikipedia.org/wiki/Legislationhttp://www.cqc.org.uk/organisations-we-regulate/registered-services/legislationhttp://www.bgateway.com/grow-improve/benchmark-business-performance/retain-and-grow-your-customer-base/https://www.gov.uk/growing-your-business/attract-new-customershttp://www.bbc.co.uk/schools/gcsebitesize/business/environment/stakeholders1.shtmlhttp://uk.westfield.com/stratfordcity/centre-information/shopping-hourshttp://www.westfieldcareers.com/why-work-for-us/https://econsultancy.com/blog/63311-analysing-your-competitors-through-social-media-monitoringhttp://www.bbc.co.uk/schools/gcsebitesize/business/environment/stakeholders4.shtml