...Unit 4 D1: Evaluate the appropriateness of business information used to make strategic decisions. Strategic decisions are major decisions that can affect the direction of the business over future months and years. These decisions can be tactical decisions such as factory layout, factory processes or operational decisions such as increasing staff on projects/lay off. This is Tesco’s Profit and Loss account. As you can see the profit and turnover has increased from the previous year of 2013. The turnover represents how much of the stock is sold. This information can then be used by the people at the top of the business such as Chief Executive or directors or board directors to make strategic decisions. Since Tesco has made a profit and their profit has increased from the previous year. This then allows Tesco to have more money to spend. The directors may want the business to expand by creating more stores or improve their current stores with new equipment. They also may use this information to make investments in departments within the business to improve the business overall. Since they have more money to spend they may also want to increase their Tesco product range or diversify in another market or even increase the amount they pay their employees. If they had a loss then Tesco directors may want to close down stores to hopefully break even in the future. They may even make tactical decisions to help save money by buying cheaper equipment or recycling old equipment. The...
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...Unit 1 Business Environment Type, sector, purpose and ownership of businesses There are different types, purposes and ownership of businesses such as; Charity or not for profit organisations, private limited company and international/global. Organisations operating in the public sector i.e. for benefit of everyone and not making a profit. Organisations operating in private sector are trying to make a profit such as Tesco, M&S, ALDI etc. even if they are called a public limited company. Charity does not make a profit. Their ownership is by a ‘board of trustees’. I have chosen Marks and Spencer’s for an international/ global organisation. This organisation is an international organisation as their products are sold through our international stores across Europe, the Middle East and Asia. Marks and Spencer’s operate in a private sector and the work they do and the products they sell is to make a profit for themselves. The industrial sector for Marks and Spencer’s is tertiary as this group is involved in the delivery and sale of goods. They take the products from the factories after the products are manufactured and sell them at a price that they will get profit off of. The purpose of this organisation is the supply of products. This is selling products at a certain price to gain profit. The ownership of Marks and Spencer’s is public limited company as it is a large well-known business. It is a chain of retailers with branches in most city centres. Shares...
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...Hi there Bye!s\gn\.mwmobile networks, affected a fifth of the UK, leaving people unable to make calls or send texts, it said. One possible solution would see people transferred to rival networks when they lose signal. But experts are not convinced this would work. Culture Secretary Sajid Javid said he was determined to sort out the issue of mobile notspots. A series of talks held with mobile operators has so far failed to find a solution. "It can't be right that in a fifth of the UK, people cannot use their phones to make a call. The government isn't prepared to let that situation continue," he said. The proposals to end the frustration - currently only aimed at improving 2G services - are as follows: * National roaming - phones would use another network when theirs was unavailable, similar to how roaming works when abroad * Infrastructure sharing - mobile networks would be able to put transmitters on each other's masts * Reforming virtual networks - agreements that companies such as Tesco and Virgin currently have with single operators would be extended to all four networks * Coverage obligation - obliging the networks to cover a certain percentage of the UK - and leaving them to decide how to do it The government has given the industry, businesses and the public until 26 November to respond to the proposals. Leaked letter Mr Javid may face opposition to the move from within his own party. The Times newspaper has reported that a leaked Whitehall letter...
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...| Business Communications: Unit 4 | Explain the different types of business information, their sources and purposes. | Phillips.Kieran | TYPE OF INFORMATION | Definition | SOURCE | PURPOSE | VERBAL | Usually is face to face or via the telephone. | A meeting between the board members talking about the company’s products and whether they need any improvements for the future and for the possibility of increasing sales. | This can be used by both companies to be able to go through their products and see if any products need to stop being sold. Example: Cadbury would stop selling Easter eggs now due to it not being Easter anymore while Tesco would add new items like new released DVDs and phones to be sold in there shop. | WRITTEN | A letter, memo, email and any information that is written down. | Emailing staff about changes to products, within the company in terms of recruiting staff and firing, etc. | This can be used to be able to contact a list of employees within the company to organise meetings regarding the development of products and the current products sales figures for the past year. Example: If Cadbury had dropped in sales around the Easter period due to less people buying their Crème Eggs or Easter Eggs, then they will consider changing the design to be more appealing to their audience, while if lost profits at Christmas time due to their product range not having increased sales then, they will have to look at the profits from what happened previous...
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...Unit 4 Business Communication P5 Explain the legal and ethical issues in relation to the use of business information In this P5 I’m going to explain the legal and ethical issues of tesco. Legal issues • Data Protection Act 1998 • Freedom of Information Act 2000 • The Computer Misuse Act 1990 Data Protection Act 1998 The Data Protection Act 1998 regulates the processing of information relating to individuals, including the obtaining, holding, use or disclosure of such information. The Act gives individuals rights of access in relation to personal data which is about them, which means that participants’ can ask for copies of personal data collected by a researcher. It requires that anyone who processes personal data must comply with eight principles, which make sure that personal data are: • fairly and lawfully processed; • processed for limited purposes; • adequate, relevant and not excessive; • accurate and up to date; • not kept for longer than is necessary; • processed in line with your rights; • secure • not transferred to other countries without adequate protection. Freedom of Information Act 2000 The Freedom of Information Act 2000 came into force on January 1st 2005. It provides a general right of access to information held by public authorities, and is intended to increase openness and transparency. Anybody, anywhere in the world can make a request under the Freedom of Information Act. The Computer...
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...Business communication Communication in Business * Produce and evaluate two or more pieces of external communication based on your chosen business. BY MILLIE FISHER Introduction Throughout the report I shall be evaluating two pieces of external communication for the company Mulberry. One of the pieces in which I have created myself and the other a real piece used by Mulberry. I will be evaluating these adverts whilst considering audience, purpose and effectiveness once establishing the type, medium and method for each communication. I will also need to evaluate these two pieces of external communication as key contributors to review the success of the organization. Examples to demonstrate these points will also be included. Along side this I will also discuss if the external communication works and compare both pieces, stating improvements. Included in this report is also a bibliography which will include a list of references that I have used as research to find my information. Methodology When creating my advertisement, I considered key criteria. My key criteria aimed for my poster to include a hook, a piece of information, a call for action and a purpose which targeted my audience. In class we brainstormed the key criteria before making our own advert to assess how we could include these elements into the external communication. As a class we all made rough drafts of our posters and jotted down a range of different ideas as a rough draft. I decided to also evaluate...
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...Business LS311: Quiz unit 4 Unit 4 : Unit 4: Contracts: Part I - Quiz Time Remaining: | Question 1.1. Food is the only thing that courts have been willing to define as “necessary.” (Points : 1) True False Question 2.2. If the subject matter of an offer is destroyed, the offer will continue to exist for a reasonable time to permit the seller to acquire replacement goods. (Points : 1) True False Question 3.3. Under most circumstances, an exculpatory clause is not enforceable by: (Points : 1) First National Bank and Regional Power Utility Corporation Regional Power Utility Corporation only First National Bank only none of the above Question 4.4. Mona asserts that a contract she entered into with Nate is unenforceable. Defenses to the enforcement of a contract include (Points : 1) a desire not to perform. adverse economic consequences. results that do not match expectations. the lack of a party’s genuine assent. Question 5.5. Edie obtains a consumer loan from First State Bank at an interest rate that exceeds the state’s maximum. First State has (Points : 1) calculated the optimum rate that the market will bear. engaged in a restraint of trade. underestimated the risk of the loan’s nonpayment. violated the usury laws. Question 6.6. No offer can be accepted by silence. (Points : 1) True False Question 7.7. Parties...
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...Unit 4 Assignment 4 Non- electronic communication involves the distribution of a message usually in the form of: Reports, Letters, Flow Charts, Invoices and even Verbal Communication amongst employees. This form of communicating is not as popular as it once was, but it provides businesses with other avenues to communicate instead of electronic communication. Furthermore, different types of communication suit contrasting businesses in addition to, the preference of people involved within a business. What Is Non- Electronic Communication? Electronic and Non- Electronic Sources of Business Information Sources of business information can come in a variety of different forms which include: Newspapers, Websites, Books, Posters, Directories, Databases, Government Statistics and so forth. Business information is basically information gathered of relevance to a business and its environment. Businesses use different sources of information as a way of understanding the markets they entering into, their competitors and how the company can grow. Moreover, different sources of business information serve contrasting purposes. Firstly, electronic communication involves the use of technology to distribute a particular message across. Examples of electronic communication include: the use of Mobile Devices, Video conferencing, Twitter, Facebook and other Social Media Websites, as well as, Electronic Mail. This is an effective way of communicating in a business environment as it is cost effective...
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...Unit 4 – Business Communication Introduction: In this assignment I am going to explain different types of business information, their sources and purposes and analyse different types of business information and their sources. Verbal information: Verbal information is given from one person to another by speaking; this can be done in interviews face to face and interviews over the phone. Tesco will have an internal human resource department where they would hire new staff to work for the business, or train staff that are new and need to know what they have to do. Also disciplining staff and dealing with health and safety and policy making such as sickness policy. The advantages of verbal information is that when the person comes in for the interview you can see if he will be capable for the job and also when you are talking to someone face to face you can understand them properly. The disadvantages of verbal information is that the person getting interviewed wont be confident and things may go wrong, also another disadvantage is that the interview can go on for a long time depending on the interviewee and his background. You can pass over verbal information through internal sources such as face to face interviews and can pass over verbal information through external sources such as focus groups. The purpose of verbal information is that when employing new employees they can expand as a business. Also there will be more jobs available for other people that want to work...
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...Khademi Task 1: Know the range of different businesses and their ownership Unit 1: The Business Environment Extended Diploma in Business Jamal Assiamah Small and Medium Enterprises in the United Kingdom by Ahsan Khademi In this assignment, I have just found employment as a junior business advisor for Newham Borough council. Over the next few weeks, the council is planning to run a series of exhibitions on small and medium enterprises in the United Kingdom. The idea is to raise the profile of Small and Medium Enterprises (SMEs) in the UK, especially in England and, where appropriate, highlight their success. The exhibition will be known as ‘SMEs in the United Kingdom’. Overview of Argos Argos is a British retailer store operating in only in United Kingdom and Ireland. With over 750 stores and 800 million websites, the company trades both through physical stores and online, are making it one of the largest high street retailers online in England. Argos was brought up in 1973 by Richard Tompkins, who happened to be the founder of the Green Shield Stamps scheme. Argos has huge varieties of products that are; DIY, phones, jewelleries, home furniture, kids and video games. It was assessed that around 96% of the population of England was within 10 miles an Argos branch, in August 2013. The number of employees working in every Argos retailer is 51,000, and has the slogan ‘Get set, Go Argos’. Size of business Argos, which contains a PLC in their name, has a chain of over 750 stores...
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...Evaluation As part of this coursework it is important to evaluate the activities and research we have done so that we can assess whether we have met our targets and reflect back on work we have done. Also to evaluate what we would change about it if there was going to be a next time. Enterprise activity In my opinion I think that our enterprise event was a success in many ways, firstly the sales turnover was a success, as we achieved a higher level of sales then predicted on an excellent day in our sales forecast. When we worked out how much money we were going to earn and how many products we were going to sell, we had a predicted sales turnover of 60 but we achieved a sales turnover of 90, this is excellent and i believe this is down to the location we picked for the stall and it was a reasonably warm day so many people would enjoy a refreshing ice cream. Secondly profit, again we earned more profit than we were predicted and after taking away all the expenses our profit was higher than most groups in our class. Our estimated profit on an excellent day was £24.95 but we reached £64.36, this is £30.41 over what we were expected to make. We had accurate stock in terms of the ice cream and cones as the last scoop of ice cream went to the last person in the queue at the very end of lunch. However the toppings did run out about half way through lunch which I think was down to George as he purchased the flakes and sauces. To overcome this, he should have bought double the...
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...Communication Verbal Information – The sharing of information between two or more individuals by using speech. It is important for a business to use verbal communication in their work place as they would need to communicate with customers etc. Verbal communication is important throughout a business as it is used in all businesses and all sectors of a business. Workers using verbal communication must ensure that they are using the correct tone of voice and talking in a professional manor while in the work place. People using verbal communication could also ensure they have the correct body language and could also include eye contact. The purpose of verbal communication is so the people visiting the work place are able to interact with the employees if they need help with something. Another purpose of verbal communication is so the person on the receiving end of the conversation is able to understand and hear the tone of voice and the emotion throughout the words. Written Information – Written communication involves any type of interaction that makes use of the written word. Written communication is communication through email, texts, letters etc. This is the type can be between two or more individuals. Communicating through written information is becoming more essential as the years go on. Written communication however need to be wrote in a professional manor and include good sentence structures, a correct order of sentences. Written communication is more reliable than verbal...
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...Business and Support Systems Unit 4 IP Patricia Van Dorst American InterContinental University MGMT305-1230B-02 Instructor, Dr Anne Nelson August 12, 2012 Abstract This purpose of this body of work is to inform the reader as well as answer the chapter questions as assigned for Chapters 11 and 12 in our text; Management Information Systems: Managing the Digital Firm, (12th Edition), by Kenneth C. Laudon and Jane P. Laudon. The case studies are varied and entitled, “Reality Gets Better”, Chap. 11, p, 429; “The Flash Crash: Machines Gone Wild?”, Chap. 11, p. 439; and “Piloting Valero with Real-Time Management”, Chap. 12., p. 476. Business and Support Systems Case Studies Reality Gets Better 1.1. The differences between virtual and augmented realities are very distinctive. With virtual reality the person experiencing the alteration often wears some type of head gear or device to facilitate the change in realities from normal to virtual. With augmented reality (AR) they have a cognitive presence in the real world while experiencing and enhanced perception of reality so the view of the surrounding “reality” is augmented, to become interactive with and improving it (Laudon & Laudon, 2012). 1.2. Marketers actively embracing AR as an “icing on the cake” as it were, to their media advertisements and articles by attaching interactive print and designs to magazines Laudon & Laudon, 2012). For example, such...
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...Unit 4 Business Communication (P1/M1) by Renee Baafi-Owusu To: Paul Barker From: Renee Baafi-Owusu RE: OO/PJB/Unit 4/P1/M1 Date: 25/09/15 Explain different types of business information, their source and purpose (P1) What is communication? It is transferring information from one part of a business to another which leads to some outcome, change of behaviour. Formal communication is an agreed procedure, whereas informal communication is a causal way of sharing information to each other. There are 5 different types of communication which are: Verbal communication: It is sharing information with individuals by talking. There is non-verbal communication which is not communicating by talking which includes: facial expression, eye contact, appearance and many more. Written communication: Written communication is a type of communication which is a type of interaction that involves written words, such as: email, poster, flyers, brochures and letters. On-Screen communication: This is a type of communication which produces information on screen such as: TV advertisements or on YouTube where advertisements are played before a video starts to play. Multi-Media communication: Multimedia communication is a type of communication which shows information in various media formats such as: Images, videos and audio broadcast/podcast. Web-based communication: It is a type of communication which shares information, words or ideas over the Internet. The information can be shared on: webpages...
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...what is Strategic Business Unit? What are conditions required for creating an SBU? How is performance of SBU measured? What are the advantages and disadvantages of creating SBUs? Ans. Strategic business units are self-contained divisions formed within an organization for dealing with specific business concerns. These units pull together the diverse parts of the concerned organization while cutting across the geographical and diverse lines for serving a specific market in a more efficient manner. These strategic business units are also referred to as independent business units or strategic planning units. The main philosophical concept behind the formation of strategic business units is to serve a clear and defined market segment along with a clear and defined strategy. These business units have to contain all the needs and corporate capabilities of the respective organization. The entire portfolio of the concerned business has to be managed by allocation of managerial and capital resources for serving the overall interest of the entire organization. This helps in developing a balance in the earnings, sales and the assets at a level which is controlled and acceptable for taking the right amount of risks. The strategic business unit (SBU) is created with the application of set criteria which consist of the competitors, price models, customer groups and the overall experience of the company. It is also sometimes seen that a number of different verticals present in the same organization...
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