This is Adams value and belief seeing as developing a strong relationship with save the children provides Adams with a strong vehicle to motivate and mobilise its workforce whilst raising money for a very good cause. By incorporating fundraising activity within the new stores environment it has also proved to be an effective way of involving their customers.
Adams gets it customers involved by selling badges based on popular hanna-barbera cartoon characters introduced, which generated huge support. For the second year running, a calendar drawing competition has drawn a tremendous response from local schools; winning entrants were included in a special Save the Children 2003 calendar.
Such front-line fundraising generates huge funds and develops strong relationships with Adams' customer base and encourages loyalty. Since 1988 Adams has raised 1.3 million for save the children charity. This has given Adams seamless brand identity and for this Adams was given an award for Excellence in Corporate Community Investment.
Adams also supports a our lady's hospital for sick children with cancer cystic fibrosis and every year has 100,000 child patients its was nominated by Adams stores in southern Ireland and has raised over ï¿½40,000 since 1999. Support of this kind is vital to provide the facilities and resources to combat the serious disorders, which can threaten all children.
"No brightness shines like the light of hope in the wide clear eyes of a child". Voluntary- An organisation that would be a voluntary would be like a charity for example Oxfam, cancer research these are all voluntary so they work not to make a profit but to help the needy this might be regionally or abroad in third world countries
Public Sector- The public sector is owned by the government the money is collected by tax it includes things like schools, hospitals, etc. the amount invested back will depend on the government nobody can own shares in the public sector Sole Trader- This is somebody who sets up there own business for example a newsagents the owner makes all the decisions for that business. It first objective is to survive and from there to expand gradually or just to keep making high profits.
Partnership- This is were a family or two friends might decide to set-up a business were they all equally share out the responsibilities and decisions the amount to set up a partner ship might range from 2-20 people, this might be Galpin and Solicitors or an electrical company between father and son.
Private Limited Company- A private limited company is one that only sells its shares to friends, families and workers for the company this might be electrical company linnells or engineering people. There must be at least two shareholders, but there is no maximum number. Shares can only be brought by the permission of the board of directors
Private sector- This is were private individuals own their own business which could be a public limited company under this category Adams would fall everything that is not owned by the government would fall under this category. The private sector is mostly all the shops in the city centre.
Public Limited Company public limited companies tend to be bigger than private limited companies its shares can be brought and sold over the stock exchange. The main advantage of selling shares on the stock exchange is that large amount of money can be made very quickly. One disadvantage is that the original shareholders can lose the control of the business if large amounts are purchased as part of a take over bid.
Public Sector This is government owned such as NHS, schools, hospitals it runs these by using tax on working people. None Profitable or a charity. These are companies that are set up to help people and not to make profit for themselves example of this can be Oxfam or barnardos. Another way which they make money is by sending leaflets and posters asking for donations.
Franchise. Franchise basically means to hire out or licensing of the good ideas to other companies. A franchise grants permission to sell and trade under a certain name in a particular area. The person taking takes the franchise puts down a sum of money which is issued by the franchising company.
Operating. Some business is ran locally like a corner shop, which are not nationally spread. The type of business that do spread internationally are those plc such as McDonalds, Marks and Spencer and Adams etc. Adams offers its clothes worldwide ranging from different countries.
Adams started off by a lady named Amy Adams making baby clothes from her home in 1933 then made 3 stores Adams then joined with the foster brothers in 1973 and formed a partnership where 30 other stores opened then in the 1980s another 215 stores opened in the country in 1985 Adams became a subsidiary with the sears group. In 1997 Adams first franchise opened in Saudi Arabia.
Adams had to go through all the procedures that I have mentioned above from a sole trader like Amy Adams to being a partnership with the foster brothers to being a hugely successful PLC like Adams. Adams has a franchise in Saudi Arabia and many other countries across the world also Adams does participate in helping young children as part of its voluntary work Adams is a profit motivated company where they keep the profits for themselves whereas a non profit company will give its profits to help the needy people and example of this can be Oxfam or Red Cross.
The advantages of Adams being a public limited company is that it has its shares brought and sold on the stock exchange, the main advantage of this is that capital can be raised quickly for the business, one disadvantage is that control of a business can be lost by the original shareholders if large quantities of shares are purchased as part of a take overbid. Selling new shares is quite a risky
Adams being a PLC is Appropriate seeing as it operates on an international level if it was a LTD it wouldn't be able to survive seeing as it wouldn't be able to raise the right amount of shares just from family and friends, whereas it is a PLC anybody can buy shares from the stock exchange from any part of the world which will be very sufficient for Adams for operate on an international level.