Essay Example on The word nationalisation is defined as the Procedure









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 coal mines 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 2 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 3 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 aspect 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 investment income

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