You have been assigned a specific business for your Report. you will be analysing Words with Heart. For more details, see the company website: wordswithheart.com
You are required to undertake research on your business and then prepare a report which covers the requirements outlined below. Information on how to present your report is contained at the end of this document.
As a starting point to your research, you should access your business’s website wordswithheart.com
Use the information from your research to provide a description of your business. In your description include the following;
(a) The type of organisation it is (for-profit/not-for-profit; merchandiser/manufacturer; partnership/company etc.)
(b) An outline of your business’s main products/services and activities;
(c) It’s approach to corporate social responsibility and sustainability (within your discussion you must explain the meaning of ‘corporate social responsibility’ and ‘sustainability’);
Requirement 2 (4 + 8 = 12 marks)
Your business’s focus on corporate social responsibility and/or sustainability has the potential to create value/benefits for several stakeholder groups. Use the information from your research to do the following:
(a) Identify four (4) specific stakeholder groups that are likely to benefit from your business’s corporate social responsibility focus. In your response, you must identify whether each specific stakeholder group is internal or external.
(b) For each stakeholder group identified in part a),
i. Describe in detail one (1) corporate social responsibility activity your business is undertaking to manage the impact their operations have on that group.
ii. Explain how these activities are likely to create value for /benefit those stakeholders.
Requirement 3: (3 + 3 + 3 + 3 = 12 marks)
In Requirement 2 (b) you have identified four corporate social responsibility activities your business undertakes. To fulfil its corporate social responsibility, your business will also need to determine if these activities do in fact provide benefits as intended.
For each of the four (4) corporate social responsibility activities you identified in Requirement 2 (b);
(a) Identify two (2) items of management accounting information that would help your business decide whether stakeholder groups actually benefited from those activities then;
(b) Explain how these items of information would help your business make this decision.
Apple uses secondary research such as previous marketing research to improve on their products. They use old information and old data to come up with new ideas for their new launching products. By looking at previous research they’re able to see what their consumers prefers In terms of their products and what areas needs improvements. Apple looks at previous market research as they still want to continue their bond that they have between their customers, so if they are not paying attention or reading their customer feedback while launching new products then they may lose customers as they won’t be pleasing them and keeping them satisfied. Customers like to be heard and they feel happy when brands launch a product up to their standards as they are meeting customer needs. If apple doesn’t do this then they will be losing customers and also losing the relationship between them. This is why it’s important to look back at previous researches as it can help brands like Apple improve their products and become more successful and well-known. By looking at this type of research it helps the company understand their customers better as the research may include different source of data and information and it may also mention reviews of the products and what is lacking in the product or what people might expect in the next launching products. This research also helps understand their competitors because they can read the previous market research from other companies and brands such as Samsung. By reading market research from other companies it can give Apple ideas and a heads up of what they are should be and are going expecting from other brands and companies. This type of research is quantitative research as it includes numbers and figures from previous research. Apple would be looking at the figures of the market research and look for rooms for improvements for the upcoming years. Apple also uses reports from sales when they need to see how well they are doing in terms of making sales and profits and then comparing themselves with their competitors such as Samsung. By looking at report sales it gives the Apple Company a realistic amount that they are making and how much more or less they are making than other companies and brands. By looking at reports from sales it allows Apple to continue making more sales as we already know that Apple is one of the well-known brand and they are a very successful company so by seeing their own sale figures it may boost their confidence and may make them want to continue what they are currently doing. Moreover by looking at sales Apple will be able to see where they are losing out in money and they’d also be able to see which product is making them successful and which product is most popular. This type of research can help Apple understand their customers as they can see how many people are purchasing their products and how many are purchasing within a day, month or year. This type of research can also help Apple understand their competitors as they can see the amount of sales they’ve produced which can help Apple plan ahead. Reports are a type of quantitative research as it again may include figures and statistics from previous years which gives a realistic overview of the brand and other companies. Apple also uses websites where they read and catch up on how their competitors are doing. They can also see how they themselves are doing as a business as there are a lot of websites where people compare Apple and Samsung products and prices together. Apple may read up on the comments on what people think of different products, this may give Apple an idea of what improvement that should be made in terms of product features or price ran>GET ANSWER