LAW Level 3 Essay

LAW Level 3 Essay LAW Level 3 Essay The Business Environment 6667517589500 First type of business that I have chosen is a private business which is the Apple Company. The Apple Company is a massive, very popular and rich business. It was founded in 1976 by three men named Steve Jobs, Steve Wozniak and Ronald Wayne. Many people would think that Apple is the largest information technology company in the world due to how successful and famous they are, but in fact they are second in the world, just after Samsung Electronics. Every big company have people called as the stakeholders, these are people that are involved in the business for example the main 8 stakeholders for Apple would be the customers, employees, suppliers, owners, trade unions, employer associations, local and nation communities and the government. These stakeholders can affect or be affected by the actions of the business. Every stakeholder has their own concerns; Customers; The value and the quality so if the product made by Apple is worth buying and if it is at its best quality. Customers ar e very important to the business as without them the company can’t succeed and become better due to no buyers. Employees; rates of pay, job security, respect and truthful communication, this is to make sure all customers are happy with the way they are treated in the business and to make sure the company is more successful. Suppliers; providers of products and services that are then sold to the customer, these people make sure the supply the products to all customers with the best ability to make them happy. Owners; their biggest concerns are market share, market standing, succession planning and growth. This is to make sure the company is running smoothly and the business is making profit to be successful and provide the customers new products. Trade Unions; quality, worker protection and jobs. Trade Union is an organisation that employees can join where their rights and interests are discussed and protected. Employer Associations; organisation of employers generally from the same industry working together for the interests of all member companies. Community; jobs, involvement, shares, truthful communication.Government; employment, truthful reporting, VAT, legislation and taxation. So in the Apple brand they will look at how much it costs apple to make their products and how much they are selling them for. Many people mistake stakeholders with shareholders. Stakeholders as stated above are people that have an interest in the business whereas shareholder owns a part of the business. 17780326390000The owners of Apple are the individuals who have invested the finance required to set it up, keep it running and allow it to grow. The owner has a great influence on the amount of profit an organisation as this is the main source of an organisations income and the owner has a great deal of influence over the business. Apple is a very important that the owner keeps the costs down and increase the profits made because they may nor risk making nothing and even losing their money if the business does badly. The aim and objectives that the owner has influence on the over the amount of profit made by the business and their performance of their business. If Apple does not satisfy their customers then the business will suffer. Suppliers are the people that provide the materials required by a firm’s operations. The