...Evaluate how external factors, over a specified future period, may impact on the business activities, strategy, internal structures, functional activities and stakeholders of a specified organisation (D2) External factors could affect the business through a number of ways. With the upcoming events both businesses will be affected through one way or another. The businesses will need to change how they work in order to survive these changes. During the next 5 to 10 years there will be big changes that both businesses will need to make in order to survive, business activities including ownership is one of the external factors which can change the business in a big way. Over the next 10 years a number of things can affect the business activities such as Economical factor, Political factor, social factor, Legal factor and environmental factor. The recession is a major factor that could affect the business ownership over the next 5 to 10 years. The economy has not been as strong as what it was before because of the recession, this has impacted on the consumers on how much they would normally spend outside, because of losing jobs and businesses becoming insolvent. The recession impacted CostCutter with profits lower than previous years, lower levels of investments and an increase on unemployment, it puts a pressure on them to create more jobs and lower prices just to keep up and boost the economy, by helping families keeping in their budgets and more promotional offers. Environmental...
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...department. In the purpose of accounting, there are many reasons why accounting is necessary to a business. Recording Transactions - Appropriate records are vital: if reports or documents are lost the Next store may forget to demand payment for some jobs that have been done or forget to pay bills that become due. It must be avoided at all costs because not paying your debts promptly or quickly is technically an act of bankruptcy or ruin. Monitoring activity and controlling the business - The recording of day to day accounts activities allows the Next managers of the organisation to keep track of orders, the sales and bills that means they must have a good idea of how business is doing well. The management of the business - Accounting records also helps the management of business and assist the board to make better decisions in dealing with investment. It is important to prepare accounting statements for Next managers to monitor the progress of the company and to endure day to day activities runs smoothly and proceed over activities. Measuring the financial performance of the business - Profit is the aim of the Next Store business and enjoyable accounting records will enable managers to assess accurately the levels of profit that are being achieved. Account records will also give clues about strategies that will be able to improve the profitability of the business. The accounting documents that they will consider and reveal a number of key figures: * Gross profit...
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...Maisy Marsh Assignment Three Corporate communications is how a business keeps their message, with everybody. It isn't just how the company speaks to the marketplace, which is known as branding, or how the company deals with the media, which is called public relations. Corporate communications involves, the market, media, communities and the staff itself, through training sessions and messaging that always reinforces the mission and vision of the company. The worker in the department of corporate communication will often report directly to a company’s chief executive and serve as advisers in managing the company’s reputation. They help leaders prepare for media interviews, develop messages to deliver to investors and employees and suggest new initiatives to keep the company on cutting edge with the communication to their stakeholders. MEDIA RELATIONS This may be the function for which corporate communication managers will be best known for. Media relations work includes many things such as writing and distributing new releases and responding to media inquiries. Corporate communications will be in charge of various news conferences, which may include selecting the site for an event, or preparing packets of information to distribute to the media and prepare executives to speak at these news conferences. Media relations also involves arranging for spokespersons to appear on local television and radio programs. Corporate communicators monitor newspapers, television...
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...Assignment brief – QCF BTEC (Level 3)Assignment front sheet | Qualification | Unit number and title | BTEC Level 3 90 Credit Diploma in Business | Unit 2 Business Resources | Learner name | Assessor name | | Rasheed Adedokun, Michael Boadu | Date issued | Hand in deadline | Submitted on | 8.12.14 | 18.12.14 | | | | Assignment title | Business Resources ;- Assignment 2 | In this assessment you will have opportunities to provide evidence against the following criteria. Indicate the page numbers where the evidence can be found. | Criteria reference | To achieve the criteria the evidence must show that the learner is able to: | | Task no. | | Evidence | P5 | Interpret the contents of a trading and profit and loss account and balance sheet for a selected organisation | | 1 | | | P6 | Illustrate the use of budgets as a means of exercising financial control of a selected company | | 1 | | | P7 | Illustrate the financial state of a given business | | 2 | | | M3 | Interpret the contents of a trading and profit and loss account and balance sheet for a selected company explaining how accounting ratios can be used to monitor the financial performance of an organisation | | 2 | | | M4 | Analyse the reasons why costs need to be controlled to budget | | 1 | | | D2 | Evaluate the adequacy of accounting ratios as a means of monitoring the state of the business in a selected organisation. | | 2 | | | D3 | Evaluate the problems...
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...don’t summit work until I am sure that I have achieved the standard required 3. Why should we hire you? Highlight records of achievements and strengths evidenced in your resume and how state that you would like to repeat those successes with the prospective employer. 4. Why do you want to work here? I feel this role as a marketing officer will suit me brilliantly because I have also gained previous experience in the college as I was a student here when I was doing business studies 5. Tell me about your goals My current goal is to progress into a higher rank and I hope to achieve this here within the next 5 years. 6. Why are you leaving (or left) your job? The reason behind me leaving my current job is because I don’t feel there are enough opportunities for me to progress up through the ranks and that is something I would like to hopefully achieve. 7. What can you offer this organization that other candidates can't? I feel I can offer this organisation a wide range of fresh ideas to help the business progress further and also I feel I am able to motivate my team members. I am also able to solve problems by breaking them down. 8. What would your boss say are your strengths? My boss would say my main strengths are I am able to work well within a team by putting 100% into tasks which will help towards the completion; I think he would also say that I am good at meeting set deadlines which I feel is a good strength to have. 10. Where do you see yourself in 3 years’ time...
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...discussing Distributions methods, include the following information: * Movement of goods from the manufacturer to the consumer and all the intermediaries in between. * Transport and Storage (type of transport, and type of storage locations) * After-Sales service * Distribution Process (Supply Chain) * Moving goods in Europe and internationally * Distribution of e-retail product and services * Any non-conventional channels of distribution. Distribution Channels Once a business has produced a product or service, organisations must consider how they are going to distribute them and sell them to their customers. Distribution is linked to getting a product or service to the correct people and pretty much the right time, however another factor that must be taken into consideration is the profit that they must make after paying for distribution and the efficiency. When a customer purchases a product of service, they may have purchased it directly from the business or through a retailer selling the product. Movement of goods from the manufacturer to the Retailer to the consumer. There are a variety of possible distribution channels with varying characteristics. For most products it is sensible to use more than one of them. Organisations between the manufacture and the consumers are called intermediaries. The most common intermediaries are as follows; * Retailers – These maybe owned by the manufacturer (e.g Boots) or independent manufacuter (e.g...
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...Unit 3 Introduction to Marketing – P1 - describe how marketing techniques are used to Market products in two organisations [IE] In this unit, I will be exploring the aspect of marketing in the business world. I will explore the techniques used by two contrasting businesses to be able to identify the differences between their techniques with a high degree of clarity. The 4 P’s: Product- A product is seen as an item that satisfies what a consumer demands. It is a tangible good or an intangible service. Tangible products are those that have an independent physical existence. Typical examples of mass-produced, tangible objects would be the common razor blade and a motor. Price- the price of a product is essential if any development in the market is to be made. This is because a decent price is the only thing at the end of the day that attracts a customer. Price comparisons to competitors must be considered as obviously, if the product is the same but the price is higher, not many if any customers will choose to buy the available product. A variation within the prices within a calendar year is good to do as during times such as Christmas, sales tend to rise as people are desperate to buy gifts even as late as a day before. This causes sales to rocket. If discounts are made, it is possible that a huge amount of sales in just one day. Place- the area in which a business’s deploys its service is hugely important. This is because if its area is filled with competitors trying...
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...1.2 1998 launch 1.3 HD 2 Digibox 3 EPG 4 Transmission 5 See also 6 References 7 External links History[edit] Origins[edit] The present service can trace its heritage back to 1990 when BSkyB's predecessors Sky Television plc and British Satellite Broadcasting encrypted their respective film channels – Sky Movies and The Movie Channel which required viewers to get decoding equipment and a subscription to watch the channels. After the two companies merged, subscribers could get access to both channels, and later the sports channel Sky Sports also became encrypted. In September 1993, BSkyB launched Sky Multichannels which was the present digital platform's analogue predecessor. Sky Multichannels was a subscription package that gave access not only to Sky's own channels but also those of third party broadcasters. 1998 launch[edit] Sky's digital service was officially launched on 1 October 1998 under the name Sky Digital, although small-scale tests were carried out before then. At this time the use of the Sky Digital brand made an important distinction between the new service and Sky's analogue services. Key selling points were the improvement in picture and sound quality, increased number of channels and an interactive service branded Open.... now called Sky Active, Sky competed with the ONdigital (later ITV Digital) terrestrial offering and cable services. The new service used the Astra 2A satellite which was located at the 28.5°E orbital position,...
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...P1 Aspects of employment Law Introduction In the report for this task I will explain what the different types of employment contract's are. Definition of a contract A contract of employment is a category of contract used in labour law to attribute the right and responsibilities between parties. On the one end stands an "employee" who is "employed" by an "employer". It has arisen out of the old master-servant law, used before the 20th century. Put generally, the contract of employment denotes a relationship of economic dependence and social subordination Part time job description Part-time workers in the United Kingdom are protected by legislation that states they should be treated no less favourably than full-time equivalent colleagues. Also they must be at least 13. A part-time job is a form of employment that carries fewer hours per week than a full-time job. Workers are considered to be part-time if they commonly work fewer than 30 or 35 hours per week. In some cases the nature of the work itself may require that the employees be classified part as part-time workers. For example, some amusement parks are closed during winter months and keep only a skeleton crew on hand for maintenance and office work. As a result of this cutback in staffing during the off season employees who operate rides, run gaming stands, or staff concession stands may be classified as part-time workers owing to the months long down time during which they may be technically employed...
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...http://www.sonicscoop.com/site/wp-content/uploads/2011/09/interscope_records__logo_.jpg Interscope Records was founded in 1989[2] by Jimmy Iovine and Interscope Communications' Ted Field with financial support from Atlantic Records, which owned a 53% stock in the label. Initially, it was distributed by the Atlantic Records subsidiary EastWest Records America. They have famous rappers such as 50 Cent, Kendrick Lamar, Yelawolf and K Camp. http://www.sonicscoop.com/site/wp-content/uploads/2011/09/interscope_records__logo_.jpg Interscope Records was founded in 1989[2] by Jimmy Iovine and Interscope Communications' Ted Field with financial support from Atlantic Records, which owned a 53% stock in the label. Initially, it was distributed by the Atlantic Records subsidiary EastWest Records America. They have famous rappers such as 50 Cent, Kendrick Lamar, Yelawolf and K Camp. http://static.tumblr.com/c8ossbw/kzcmcip9g/ymcmb11.jpg 1. Young Money Cash Money Records, Inc. is an American record label founded by brothers Bryan "Birdman" Williams and Ronald "Slim" Williams, who currently act as CEO’s. They were founded in 2005 and have famous rappers to represent them such as Lil Wayne, Drake, Nicki Minaj and Lil Chuckee http://static.tumblr.com/c8ossbw/kzcmcip9g/ymcmb11.jpg 2. Young Money Cash Money Records, Inc. is an American record label founded by brothers Bryan "Birdman" Williams and Ronald "Slim" Williams, who currently act as CEO’s. They were founded in 2005 and have...
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...Introduction Unit 4 Effective people communication and information P2 P2 ? Describe the main employability, personal and communication skills required when applying for a specific job role. Job Role: Cooperative Sales Assistant Job Description: * Liaising with clients in all areas of sales - client interaction is vital and sales assistants working with higher priced goods will need to provide a highly personalised approach; * Meeting set sales targets - this aspect of the work can be demanding, often carried out in a busy and pressured environment, with sales teams frequently expected to hit their targets; * Stocking, replenishing and cleaning sales areas; * Assisting with product selection; * Processing payments of various kinds; * Offering advice to customers; * Arranging delivery dates for larger items; * Dealing with customer complaints; * Utilising specialist product knowledge; * Monitoring and updating sales display areas. What is the job about? Being a sales assistant for the Cooperative means that you have to be on the shop floor and help customers in any queries, stocking shelves, rotating stock and updating sales display areas. What skills are required? Working as a sales assistant for the Cooperative requires a variety of skills. All employees that work for the Cooperative will have to meet these following skills in order to qualify for the job. ...read more. Middle Effectiveness in meeting personal and team targets is a good skill to have. If you can meet personal...
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...P1- task1 In this task I will describe the role of sales staff and how significant it is in the workforce. Describe the features of excellent customer service. Good customer service is the success to any business. You can offer promotions and slash prices to bring in as many new customers as you want, but unless you can get some of those customers to come back the business won’t be profitable for long. Good customer service is all about bringing customers back. And about sending them away happy - happy enough to pass positive feedback about the business to others who may then try the product or service you offer for themselves and in their turn become repeat customers. If you’re a good salesperson, you can sell anything to anyone once. But it will be your approach to customer service that determines whether or not you’ll ever be able to sell that person anything else. a good customer service is forming a relationship with customers a relationship that that individual customer feels that he would like to pursue. Listen to your customers. Deal with complaints When a customer seeks for help but realizes the sales person hasn’t been paying attention it will leave them disappointed so the sale staff should let the customers talk and show that you are listening by making appropriate responses such as suggesting how to solve the problem and what could be done to make the customer happy. This means giving complaints attention also. Do something nice. Whether it's a coupon for...
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...money on the wholesalers. However Tesco will not get the food products packaged like it would be if Tesco went to the wholesalers so Tesco must make sure that the producers are reliable and have good quality so the money is not wasted on liabilities like bad producers. In order to make profit Tesco use fresh foods like fruits, vegetables and meat, Tesco put the price up when the foods are fresh, knowing that customers always want fresh food so Tesco took advantage and made the foods expensive that way Tesco make more money than usual. In my opinion I think this strategy from Tesco is very smart and useful for the company because the company is getting foods from farmers at a reasonable price and then selling the foods for more benefits the business. Tesco makes good profit from this operation....
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...Explain the legal and ethical issues in relation to the use of business information Legal Data Protection Act 1998 Many businesses store and use information about people. The Data Protection Act protects the information being held about people from being misused. The information stored by businesses on databases must be: * Obtained fairly and lawfully * Used only for the purposes stated during collection * Adequate, relevant and not excessive in relation to intended use * Accurate and up to date * Not kept for longer than necessary * Proceeded in line with your rights * Subject to procedures to prevent unlawful processing, accidental loss, destruction and damage to personal data * Protected from transfer to an area outside the European Economic Area (EEA) unless adequate protection exists for that data in the area. This Act restricts Toyota Malawi from using the information of their customers illegally and without permission. This also means that Toyota Malawi has to ask for permission when they want to collect information from their customers and the general public. In addition Toyota Malawi has to make sure at all times that the information never falls into the wrong hands or get lost when processing or while in storage. Freedom of Information Act 2000 The Freedom of Information Act came into effect in 2005. It provides individuals or organisations with the right to request information held by a public authority. The public...
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...Apple Inc. Task 2: Assignment 2: Part A Definition of motivation and what is it? Motivation is a theoretical construct used to explain behaviour. It represents the reasons for people's actions, desires, and needs. Motivation can also be defined as one's direction to behaviour, or what causes a person to want to repeat a behaviour and vice versa. A motive is what prompts the person to act in a certain way, or at least develop an inclination for specific behaviour. According to Maehr and Meyer, "Motivation is a word that is part of the popular culture as few other psychological concepts are. What usually motivates employees? 1. Individual attention matters: While teamwork is an important element of company success, and grouping your employees together has advantages in building that "team" mentality, nothing beats individual attention when it comes to individual motivation. In large corporations, this is especially true, since employees can feel isolated or unrecognized in a vast sea of workers. Taking a moment to speak to an individual alone and personally can make him or her feel truly appreciated 2. Advancement opportunities: People tend to feel stifled when their job becomes repetitive or stagnant. Going too long in the same position, with no changes or hope for change, will eventually demotivate even the most ambitious employees. 3. Leaders setting the examples: As a leader within your organization, people are going to look to you to set an example for the...
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