The word “nationalisation”
is defined as the procedure that a government carries out to take control of a
specific company or industry that usually occurs without reimbursement for the
deficit of the net worth of captured possessions and probable revenue
(Wollmann, 2014). The act might be the outcome of a nation’s effort to unite
power, the bitterness of foreign tenure of industries signifying considerable
position to native economies or to pop up deteriorating industries. In the
United Kingdom, the concept of nationalisation reached its peak between the
years of 1946 and the early 1950s. In the year 1946, the Bank of England became
nationalised by the new Labour government of Clement Atlee (Rhodes, 2011). The
bank was also the first organisation to become nationalised in the country. In
the year 1947, the coal industry was nationalised when around 800 coalmines
were shifted to the public ownership and a National Coal Board (NCB) was
created to handle the industry on the commercial aspects. However, later the
industry was privatised again in the year 1997.
In the year 1984, the railways were nationalised so that the
network infrastructure was rebuilt, and the rolling stock was re-equipped. The
latter was done to deal with the destructive effects of the World War II. Steel
was nationalised in the year 1949, but it became privatised later on by the new
Conservative government (Wollmann, 2011). In the year 1967, it was renationalised
when around 90% of steel capacity was taken under control by the British Steel
Corporation (BSC). However, it again became privatised in the year 1988. The
term “renationalisation” here signifies an asset that was nationalised but was privatised
and again returned to become nationalised (Barjot, 2011). The assets become renationalised.
When the financial crisis and banking collapse started
taking place in the year 2008-2009, numerous banks in the UK started to become
full or part-nationalised (Florio, 2014). From these, the first bank that was nationalised
was the Northern Rock in 2008. This was followed by the UK Treasury taking a
65% stake in the Lloyds Banking Group and around 68% stake in the Royal Bank of
Scotland in the year 2009.
The company chosen for this task is Tesco. The 6
stakeholders identified for this company are customers, suppliers, investors,
human resources, government, and employees. The role of customers in the
company is that it is the end user that is getting the products and services of
the company. The role of suppliers is to provide resources on time to the
corporation. The role of investors is to invest money into the corporation and
get profit on their investment (Horton, and Pilkington, 2014). The role of
human resource is to ensure all employees are satisfied with their job and any
issues they face are resolved immediately. The role of employees to help
customers with any issue they face and ensure that they are doing their work
regularly. The government implements the taxes and laws on the organisation
informing the management how they need to operate the corporation in the country
(Horton, and Pilkington, 2014).
The 6 stakeholders will be planned out on a power interest
matrix which comprises of four section of keep satisfied, manage closely,
monitor (minimum effort), and keep informed. Each of the 6 stakeholders will be
positioned in the matrix as per the priority of the Tesco management.
It can be seen from the above figure that customers’ needs
to be kept satisfied at all cost. The investors come close second on the power
level. The government and suppliers have high interest at the same time having
high power, so they need to be managed closely (Horton, and Pilkington, 2014).
The employees will be monitored closely, and the human resources will be kept
informed of the developments taking place in the organisation.
The voluntary groups are groups that are set by the people
who have the intention of helping others in their local community (Kythreotis,
and Jonas, 2012). The funding for such groups is done through other organisation
or through charity programmes that are part of the criteria in which the group
is working. The two voluntary groups in the UK that have been chosen for this
task are the Wellcome Trust and the British Heart Foundation. The Wellcome
Trust is basically a biomedical research charity that is located in London, UK.
The research charity was founded in 1936 by the pharmaceutical magnate Sir
Henry Wellcome. The purpose of the charity was to fund research so that they
could help in improving the human and animal health. The aim of the Trust is to
be able to attain extraordinary improvements
in health by supporting the brightest minds. The trust gets its funds from
the Wellcome Foundations Ltd. There are numerous organisations that support the
trust through charity aspects or through the corporate social responsibility
The second voluntary group chosen is the British Heart
Foundation (BHF). BHF is a charity organisation that is located in London, UK.
The foundation is the biggest funder of cardiovascular research in the country.
The foundation was established in 1961 by a group of medical professionals.
These medical professionals were concerned about the rising death rate that was
taking place due to the cardiovascular disease. The intention of this group was
to fund extra research into their causes, diagnosis, treatment, and the
prevention of heart and circulatory disease. The aim of the foundation is to
fund cardiovascular research by spending around £100 million per year on
funding scientist all over the country. The foundation is funded by legacies
and wills which is around 40% of the income, 31% is the voluntary income, 23%
is the profit attained from the retail division, and 5% is attained from the