Aims and Influences
"Their choice to continue purchasing goods"
The consumers have control also have control on whether Boohoo succeeds as if there are no consumers then the company isn’t making any profit. Like the employees they too have control over the reputation of Boohoo, if consumers give bad reviews or are always returning clothes they won’t recommend them to their friends/family and Boohoo will lose customers; this will mean that their profit will decrease. Consumers can influence boohoo by deciding to continue purchasing the products; this means Boohoo need to make sure they’re meeting the consumers needs and always providing excellent customer service so they keep loyal consumers.
The government have control over VAT which is added to the products that Boohoo sells. This influences boohoo as they have to think carefully about the prices of their product considering the VAT they have to add on; boohoo are known for being fairly cheap so they have to keep this in mind when pricing. The government also have, to an extent, control over how much employees are paid. This influences boohoo as they have to make sure they are paying their staff at least minimum wage and if the government was to change minimum wage they would have at adhere or the brand could be shut down. .
The government also has control over how much corporate tax boohoo has to pay; this could influence boohoo as if the government raise the amount of tax they have to pay it might go into their profits; boohoo would have to drive sales and make as much profit as possible so as if this was to happen they wouldn’t lose any of their profit.
Owners/stakeholders have quite a big say in how the aims of a business are decided.
Employees can influence the success of a business by their productivity and efficientcy to do their job, the necessary taks and duties they have to fulfil every day. The can also take action if they disagree with, company policies, pay or woking conditions. His could take the form of work to rule, a banning of overtime and in some very extreme cases withdrawl of labour, also known as a strike.
If you operate a service-based business, your employees are the ones who provide a consistent service that helps you attract and retain customers. An employee’s job depends on the companies success, and being an internet retailer boohoo is at a disadvantage. It is harder to provide customer service at the same standard as it would be in a bricks and mortar store face to face. Employee’s at Boohoo will want to give good customer service to the best of their ability as it means that the more successful the business is the more secure their jobs are but also in a company the amount of work you give out can be recognised and the company can give back to you with a bonus, pay rise or promotion etc.