...businesses, the business I have chosen are Tesco and Asda. Also I will be talking about the interest of owners, customers, suppliers, employees, trade unions and shareholders have in the businesses. Another point I will be talking about is why business have to consider local communities and pressure groups when operating their business. Tesco and Asda key Stakeholders are; Customers: Customers want good quality products and services for affordable prices, customer want to shop at Tesco and Asda and receive well experience whenever they shop there. Also Tesco must always understand that meeting customers needs and expectations are very important, otherwise they will lose customers are profits. Suppliers Tesco would buy resources that they have needed of to produce goods and services from suppliers, so Tesco and Asda needs to have an effective relationships with their suppliers in order to get quality resources at reasonable prices which intern will help Tesco and Asda to sell products cheaper if they get it cheaper this means Tesco and Asda will then make their customers more happy because they are getting good quality products and services for affordable prices, but this is a two way process as suppliers depend on the business they supply to earn money. Owners Owners would want the business to run smoothly and earn from it so the interest they would have in the operations of the business would be that they will like to earn as much money as possible from the business. However...
Words: 319 - Pages: 2
...I am going to use the research from class to explain the types of business ownership and the sector which it operates in, the size, the scale, the size of the industry, the liabilities it has and the advantages and disadvantages of the business ownership. Type of Business Ownership and Business Sector | Snac Attack | Cameron Blake Chartered Accountants | Sole Trader- A sole trader is a business which is owned by one person. The owner can employ others but they are their responsibility.A sole trader operates in the private sector. | Business Purpose and Activity – Snac Attack provides a food and drink service to consumers and customers to people in the local area. This business aims to make a profit. | Business Purpose and ActivityCameron Blake Chartered Accountants provides a service to the North East area. They provide customers with a service which can take care of their Financial Accounts. | | Size and scaleThis business operates on a small scale in the local area, Felling. | Size and ScaleThis business operates on a small regional scale. | | SectorSnac Attack operates in the tertiary sector as they provide a service to the customer. | SectorCameron Blake Chartered Accountants operate in the tertiary sector as they provide a service to customers. | | Liabilities This business has unlimited liability. This means that the owner is liable for all the debts of the business meaning that if the business fails the owner’s personal possessions may be taken. | LiabilitiesCameron...
Words: 2488 - Pages: 10
...The Business Environment In this assignment I am going to be explaining how the style of organisation fulfil their purposes, I am going to do this by defining the different business terms and how this affects the Business. Business environment Gross profit is the difference between revenue and the cost of making a product or providing a service, before deducting overhead, payroll, taxation, and interest payments.Net profit is the sales and revenue made over the net on the online database on how much sales the company had made also the taxes and profit they make from net profit. Dixons gross profit is increasing. As its annual report suggests they had made a lot of net sales and generated a lot of profit from it. Recession/Survival Recession is when the economy is at a low and most companies are at a crisis. This is when the company cannot always pay their taxes or stock on time and they will have to increase their profits above targets in order to stay stable during the recession period. The recession can impact Dixons Objectives by making them struggle in generating profit and customer satisfaction as Dixons will have to increase their prices on the products and force to make more sales which can bring unhappy customers to them in doing so. This affects their objectives by a lot. Growth/Market share Market share is the total purchases of a customer of a product or service from Dixons, what percentage goes to a company defines its market share. In other words, if consumers...
Words: 1174 - Pages: 5
...Pass 1 Tesco Information from Tesco’s website suggests that Tesco PLC is the largest retailer in the UK and the fourth largest in the world. Tesco is an international company as their stores are scattered around twelve different countries around the world. The company employs 500,000+ people across the countries that work for and supply Tesco supermarkets. Out of the 500,000+ people working for the company internationally, over 310,000 work in the 3,378 UK stores. Their profit gain before tax is £2.3 billion. Internationally, there are exactly 6,784 stores, with the business making £70.9 billion group sale. Tesco compete against a wide range of supermarkets such as, Morrison’s, Sainsbury, Co-Operative, Aldi, Lidl and Waitrose, ASDA. They compete with them for customers to purchase their product for a fair price however, Tesco still need to make a profit on it. Tesco is a retailer and is therefore part of the tertiary sector, as it provides a service and sells goods for the publics’ needs. Its main intention is to make a profit for its shareholders. Tesco believe that success depends of people. “The people who shop with us and the people who work with us.” More evidence to suggest that Tesco is a retailer is that the company makes profits on their products. Tesco is a Public Limited Company (PLC) which is a business that is owned by its shareholders, run by directors, and more importantly, whose liability is limited. Limited liability means tat the investors can only lose...
Words: 359 - Pages: 2
...Assignment 1 – P1 The job that I have chosen for my assignment is the position for Temporary Business Manager in South Morningside Primary School. Job Advert – A job advert is the advertisement of recruitment for a job to attract suitable candidates/applicants for a job. The purpose of a job advert is to try and locate the perfect candidate or applicant for the job that has been advertised. An example of a job advert is shown below; the business I have chosen from the two adverts shown is the Temporary Business Manager – South Morningside Primary School Job description – A job description is a list of rules and conditions of the chosen job that the applicant selected. The purpose of a job description is for it to include a summary of job analysis recordings that helps the employer determine what the applicant going for the position should do if he is accepted. example of a job description is shown below. The job description gives me a brief description of the job and what the applicant would have to do. Job Specification – A job specification is a detailed description of the role that has been advertised; it also includes responsibilities, objectives and requirements. The purpose of a job specification is to introduce the applicant to the employer; it is like a first impression. It is crucial because it portrays an image of the applicant. An example of a job specification is shown below. The applicant should look at this and remember what he/she has to do if accepted...
Words: 1516 - Pages: 7
...grown from a single market stall to become an international multi-channel retailer. (M&S, 2013) Marks and Spencer is a major British retailer which was founded in 1884 and operates 766 owned and franchised stores in the United Kingdom; and 418 owned and franchised stores in 51 territories in Europe, the Middle East, North Africa, and Asia. Type of business M&S is an international business because it is located in various other countries with the United Kingdom and 418 owned and franchised stores in 51 territories in Europe, the Middle East, North Africa, and Asia. M&S is in the private sector organisation because it is part of the national economy made up of private enterprises. It includes the personal sector (households) and corporate sector (companies), and is responsible for allocating most of the resources within an economy. See also public sector (business dictionary, 2013) M&s is a large size business because there are more than 250 employees, M&S has up to 82,000 employees and the majority of the people are in the UK. M&s is in the tertiary sector because they are providing services to individuals and business an example of the type of service M&S would provide is they could provide fresh lingerie this would include: • Transporting the lingerie • Selling the lingerie in the stores • Advertising the lingerie (they could use manikins to advertise) (John Bevan et al 2010) Purpose M&S is main purpose is to make as much profit as possible, and to make sure...
Words: 1149 - Pages: 5
...Name: Arsalan Anwar Business level 3 Unit 1: P1 Introduction: In this assignment I will be selecting two contrasting business which are going to be Tesco and Oxfam. I will be writing a written report describing their purposes and ownership, to do this I’ll talk about what goods and services they offer and to whom they offer these to. Finally I’ll talk about where they operate and which industrial sector of the economy they operate in. Introduction of Tesco Tesco is a massive company with high revenues, it is also a public limited company (PLC) that means it has limited liability, the meaning of limited liability is that the investor cannot lose more than the amount he has invested within the company intern this means that the investor is not personally responsible for the debts of the company so linking this to Tesco it will mean that if Tesco goes into debt the investors are not responsible to pay it off. The main aim of Tesco is to make profit and the reason it will make profit is because it is a well know and established company which has been trading for many years. It has over 2000 stores around the world and it is employing nearly up to 300,000 people which proves that it is a global organisation. Sector of the economy Tesco operate Tesco operates in the tertiary sector which is also know as the service sector and is one of the three main economy sectors, the tertiary...
Words: 1175 - Pages: 5
...P1: Describe the main reason of accounting within an organization The purpose of accounting in Sainsbury’s it to record financial transactions, actual or planned. By using the figures given you can produce financial information. Here are some reasons why accounting in a business is important. Recording transactions is important for Sainsbury’s because by keeping up to date records this will allow them to have a smooth running business. Monitoring activity is important for Sainsbury’s because there records will be updated on a daily basis and by using monitor activity it will provide good information on how Sainsbury’s is doing in paying expenses, sales and receiving payment. Another reason why accounting is important for Sainsbury’s because it provides managers important information for decision making. Also it is important for accounting in Sainsbury’s because Sainsbury’s need to provide up to date information to the stakeholders about financial information. P2: Difference between Revenue Income, Revenue Expenditure, Capital Income and Capital Expenditure. Capital income: Capital income is when money is invested by other investors or by the owner to buy equipment and start up a business. The equipment brought will stay in a business long and medium periods of time for example equipment, premises and vehicles and they are called fixed assets. When you buy opining stock the money will come out of the capital income and after a month or so your stock will...
Words: 409 - Pages: 2
...Unit 1 - P1 Table 1 Types Of Ownership: | Definition: | Example: | Sole Traders | A sole trader business is owned and controlled by one person and the most common type of business. | Window CleaningPlumbing Electrical Work | Partnerships | A partnership is usually formed by signing a Deed of Partnership (which sets out how profits will be shared and the different responsibilities and payments to partners) with the paperwork being supervised by a solicitor. | Medical PracticeDental PracticeAccountantsSolicitors | Private Limited Company | Private limited companies tend to be smaller than public ones. Often family businesses. There must be at least two shareholders. Shares in private limited companies cannot be traded on the stock exchange. | Green EnergyJohn Lewis PartnershipVirgin Atlantic | Public Limited Company | Public Limited Companies have their shares bought and sold on the stock exchange. This allows the company to raise large amounts of capital very quickly. | ASDAMicrosoftBlackberryMcDonald’s | Government Departments and Agencies | They operate on behalf of the government and are staffed by civil servants, known in this department as customs and revenue officers. Civil servants are people who work directly for the government. Their job is to collect income tax & other taxes on behalf of the government, to collect repayments on student loans and make payments such as tax credits. | Child Protection AgencyCabinet OfficeDepartment For TransportNHS England...
Words: 1553 - Pages: 7
...P1 - Describe the Potential Prompts that Initiate the Installation of New or Upgraded Software In this work I will describe the potential prompts that initiate the installation of new or upgraded software. I will write about three main prompts and explain the problems with existing systems, additional functionality required and external prompts for software bug fixes. • Problems with existing systems Overtime if you use a lot your laptop or PC it starts becoming really slow and popping up faults which need to repaired or improved. This happens only when there’s something wrong with your existing system. Sometimes it crashes, because of new installed updates or because it can’t run on your operating system. One of the reasons might be if you browse a lot on in internet and download a lot of illegal this might slow your PC. For example, if you download regular music, games or movies all these files take a lot of memory. To avoid these problems you need to regularly defrag your computer and run couple antivirus scans to fix it....
Words: 596 - Pages: 3
...P1 – Explain the effects of changes in the economic environment on a selected business. D1 – Evaluate the impact of changes in the economic environment on a selected business In this part of the assignment I am going to be researching the economic factors of Barclays as a business. The Business cycle All of these factors have an enormous impact on my selected business (Barclays) as the economy goes from growth and decline. As well as many others, Barclays is majorly affected as it is in the financial industry. These different factors appear throughout what is called the ‘Business Cycle’. The cycle shows the fluctuation of the activity within the economy over a period of time and consists of 4 main stages; as well as many others, Barclays as a business is majorly affected as it operates in the financial industry. These different factors appear throughout what is called the ‘Business Cycle’ and also known as the ‘Economic Cycle.’ The cycle shows the fluctuation of the activity within the economy over a period of time and consists of 4 main stages; Growth, slowdown, Recession and Recovery as shown below: Supply and demand and GDP (gross domestic product) 'Gross Domestic Product - GDP' the monetary value of all the finished goods and services produced within a country's borders in a specific time period, though GDP is usually calculated on an annual basis. Forces of demand and supply interact to create a market place. This is for many different reasons, for example: Factors...
Words: 4004 - Pages: 17
...Business Ownership P1 Organisation 1 – NHS The NHS is a national public sector health service maintained and paid for by the UK. The NHS was founded in 1948 in an attempt by the then heath secretary, Aneurin Bevan, to bring good healthcare to all. It was founded to provide affordable healthcare to the citizens of the UK who need it. Today the NHS has a very good reputation as it continues to provide good healthcare to those in need, they currently employ over 1.6 million government people to achieve this endeavour. The NHS is a national business as it only operates in the UK and only provides its services to those living in the UK. It only operates in the tertiary sector as they provide a service for the public but do not manufacture, sell or harvest raw materials. Because it is a public business it doesn’t make a profit instead it uses it’s funding to help with the financial burden of medical procedures. There are down sides to this for example the NHS don’t always have the most up to date equipment. Because the service is maintained and paid for by the government they are the ones that will be held liable for any problems with the way the NHS runs or if it overspends. The NHS is limited by their annual budget for the year 2015 their budget was £115 Billion. Organisation 2 - Starbucks Starbucks Coffee is a privately owned American global coffee company and coffeehouse chain. Public limited companies become a legal entity whose assets and liability are separate from their...
Words: 3765 - Pages: 16
...The aim is to describe the different types of business organisation that operate in the UK. This will include a comparison between a Limited Company and a Charity in terms of their ownership, aims, economic sector and main stakeholders. For the report, I have chosen to investigate Sainsbury’s and RSPCA. Sainsbury’s Background information Sainsbury’s Supermarkets is the UK’s longest-standing major food retailing chain, having opened its first store in 1869. The Sainsbury’s brand is built upon a heritage of providing customers with healthy, safe, fresh and tasty food. It differentiates itself by offering a range of great quality products at fair prices with a particular emphasis on fresh food, an ethical approach to business and continuous leadership. Size of business J Sainsbury plc consists of Sainsbury’s – a chain of 504 supermarkets and 319 convenience stores. A large Sainsbury’s store offers around 30,000 products and an increasing number of stores also offer complementary non-food products and services. Business sector Sainsbury’s is currently in the Tertiary and Secondary Sector this is because Sainsbury’s provide services (they have banks), sell Food and also they have their own farm. Main goals and purpose At Sainsbury’s they will deliver an ever-improving quality shopping experience for their customers with great products at fair prices. Their aim is to exceed customer expectations for healthy, safe, fresh and tasty food, making their lives easier every...
Words: 788 - Pages: 4
...of Nottingham: | Consumer: | A consumer is an individual/organisation who buys a good/service for their personal use. They are a key stakeholder in some business’ as they are the primary source of their revenue. | A consumer would be interested in DFS, as they want them to produce high-quality, value-for-money products and the after-sales service in order to make any future sales. As they are the purchaser of the good, the business is essentially interested in the needs of the consumer. They can have a huge impact on the business as if they receive a poor quality product it would lead to any future sales being lost. This is vital as like every business, they need to sell in order to survive. In this instance the consumer could be pivotal to the survival if decline occurs. | A consumer would have an interest in The University of Nottingham as they want them to produce high quality service education. As the consumer are the students, they are market the business need to survive. If the educational system failed, then private businesses would fail to survive. This means that the business has to tailor the consumer’s needs for service. | Employee: | An employee is an individual who is hired under a contract of employment to work for a business. This could be Part-time, Full-time. Employees are key stakeholders in the business as they have that particular interest to work there, which should give reason to the companies to work ethically and look after the staff. | The employees...
Words: 3937 - Pages: 16
...P1 Describe the type of business, purpose and ownership of two contrasting organisations. RSPCA http://www.rspca.org.uk/home http://www.media.rspca.org.uk/media The RSPCA is a charity. The RSPCA (Royal Society for the Prevention of Cruelty to Animals) is an organisation that prevents cruelty to animals. It was founded in a London coffee shop 1824. It was originally called the SPCA (Society for the Prevention of Cruelty to Animals) until in 1837, when Queen Victoria allowed permission for the organisation to add the ‘R’ for the symbol of Royal patronage to be displayed in 1840. The RSPCA is a PLC (Public Limited Company). Two years before the RSPCA was founded, the ‘Martin’s Act’ was created in 1822; this was the first animal welfare law that forbade ‘the cruel and improper treatment of cattle’. In 1835, the ‘Pease’s Act’ was created; this allowed the prohibition of cruelty to cattle to be extended to dogs and other domestic animals. This act also saw that ‘Bear-Baiting’ and ‘Cock-fighting’ were forbidden and also insisted on better standards for slaughter houses. Since being founded the RSPCA has made sure that; laws have been made for lab animals, fur farming in the UK has been abolished and the ban of fox hunting with dogs as well as the Animal Welfare Act. The RSPCA is a founded company that is improving the welfare of animals. ‘It’s our vision to work for a world in which all humans respect and live in harmony with all other members of the animal kingdom.’- RSPCA...
Words: 890 - Pages: 4
