Unit 1 P1

In: Business and Management

Submitted By jasonss
Words 1419
Pages 6
Unit 1
H&M P1
Is an international company in 53 different countries, in the hands of private owners It is for profit, and active in the tertiary sector because they also sell those clothes.
Their purpose is to sell fast fashion to a wide variety of customers and satisfy their needs for clothes.
The owners are the shareholders, so it is public limited liability.
Stakeholders P2
Customers
H&M is a customer-focused company. Understanding and meeting their needs is at the core of everything they do they engage them by: * In-store customer interactions * Customer service organization * Social media (for example, 18 million facebook fans) * Market research Consumer media * Consumer organisations
They simply influence H&M by buying their products without they the company simply cannot exist the company’s products are also influenced by the customer’s needs and wishes.
Colleagues
We want our employees to be advocates for H&M brands. Motivated and satisfied employees means better customer interactions and a better and more productive workplace. They engage them by: * We have an open-door policy,encouraging constant feedback * Store or union representation in many markets * European Works Council (EWC) * Meetings facilitated through our global framework agreement with Union Network International (UNI) * Regular individual performance reviews * Employee surveys in some markets
Good and motivated employees get more sales and in the end all every profit companies want is to sell as much as possible and make the highest profit possible.

Suppliers and their employees
Their suppliers are their valued business partners. Stable and term relations are key to mutual growth. Strengthening the supplier’s ownership over their sustainability issues and involving their employees is important in enabling long-term…...

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