Network between the two locations, it can also

Network
Rail is the company that owns and operates UK’s entire railway infrastructure.
They are also the biggest stakeholder of the infrastructure. Network Rail’s
operation include the maintenance mainly the track, electrification and
signalling also the support and renewal of the railway. Though they have
multiple partners and stakeholders, Network Rail is the primary stakeholder.
But this also means the additional partners and companies associated with
Network Rail also have obligations to support and maintain the railway
infrastructure.

 

An
example of another stakeholder is the Department of Transport. This stakeholder
has control over the funding and the price of train fairs. This ultimately
changes how much Network Rail receives in revenue to maintain the railway. This
is vital to the operations of Network Rail, as the funding helps pay for any
repairs and renewals in the infrastructure. It can also help the company assess
ways of improving the efficiency and reduce costs. Also, the ability to control
rail fairs whether increasing or decreasing can affect the income for Network
Rail from the Train Operating Companies. An increase in fairs can create more
income that in turns funds projects to renew the infrastructure. However,
consumers may be less likely to purchase tickets due to the price raise and can
have a negative impact on Network Rail, as consumers believe they have control
over the fairs.

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Another
stakeholder is the Government, their purpose is the implement the law,
regulations and procedures to control the railway. This also helps provide
requirements to train operators (like Greater Anglia) to achieve and a set time
frame for this to be achieved. The requirements can seem simple, for example a
requirement would be to run 10 trains from Norwich to London within a 3-hour
frame. Though this would help increase services between the two locations, it
can also negatively impact the train operator. If a train is to arrive a minute
late or leave later than stated, the operator would be charged a fine. This can
vary, but roughly £120/Minute is fined. This also applied to Network Rail, if
any works cause delay to the train operator, the company is also fined a lot
more per minute and must give that money for every operator on that line who is
delayed. Fines can eventually add up very quickly and become a major issue for
both train operators and Network Rail.

 

Third
parties are also stakeholders within the rail industry. These include private
investors who have large shares of Network Rail. The money invested by private
shares help fund the railway infrastructure. Not only does this benefit the
company, but also the stakeholders make money on their shares. This makes it
profitable to both Network Rail and the investor/shareholder. Other parties
like suppliers are also responsible for the maintenance, support and renewal as
they either provide the materials needed, expertise and labour. Though Network
Rail has over 35,000 employees, so of the work is contracted out to other
external companies. They all must comply with Network Rail policies, ensuring
everyone is working to the same standards and both parties are complying with
the correct legislations.

 

Network
Rail must also comply with Data Protection which forces the company to ensure
the data held on an individual is secure and only accessed by authorised
personnel. This provides the confidentiality required by law. This ensures that
the information stored on someone is not used unlawfully (ie fraud) and that
only the people who need to know certain information can access that. There may
be information stored about an individual that they may not want others to view
freely. This may include their gender, sexuality and any mental illnesses. This
also applies to any company related information like trade secrets, projects
and other company information. Before any information is
stored/accessed/shared, the individual whose information it is must be notified
and agree to any of the above actions before processed.

 

A
contract is a legal document between two parties, and both parties have the
obligation to fulfil everything within the document. Otherwise, legal action
can be taken and could create heavy fines. Network Rail has many contracts with
third parties including suppliers and contractors as well as employees.
Everyone must comply with the contracts. As briefly mentioned, breaching a
contract can cause severe damage to the party causing the break and potentially
the innocent party in legal fees. There are three main ways to deal with a
breach, the other party is entitled to a remedy under the lawref. The first
method is for the failing party to pay the other party any damage whether
monetary or not. Common kinds damage are; compensatory, punitive damages,
nominal damages and liquidated damages. Each have different forms of
reimbursement, though they can become expensive for the offending party. Second
remedy is specific performance, this is used if the non-offending party is not
in a good position despite paid damages. It is used if the case is rare or
unique. The last remedy is cancellation and restitution, allowing the
non-offending to cancel the contract freely and sue for restitution.
Restitution is where the party is put back into a place where the contract was
not breached, and the contract is cancelled, leaving both parties without any
obligations under that agreement. All these are good ways for Network Rail to
continue providing services and that individuals/businesses are all in
agreement, causing no issues. 1

 

In
conclusion, Network Rail as a company works well. They have support from the
government and provided grants to help improvement of the railway and the
support by private investors. They also have very good relations with
suppliers, allowing for better deals and higher quality materials.

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