Premium Essay

Business Unit 2 Money Managment

In: Business and Management

Submitted By bridgetb29
Words 1129
Pages 5
Abstract As you are reaching a decision you have to center it on the essential goal of your business, while subsidizing your business. To assistance you in deciding there are numerous resources and there are countless aspects to be deliberated in the development of the business. When attempting to start a business the smallest amount of my difficulties are going to be a low net worth and the limited management experience. When you are developing your business you need to keep in consideration the risk factors in opening a business at all times.

Funding a Business Venture
For my specific condition, I have made the decision, that the finest legal type of business as an originator would be a corporation. I must now make the decision as to what method would be the best for financing of my business. Borrowing money from the bank, selling the supply, or licensing my product; are all selection I that are essential to be taken into to deliberate and examine prior to reaching the finalized conclusion. For the subsidy of my business, the best legal form of business I have decided upon, marketing stocks would be the finest for the corporation. In corporation stock is a minor portion of proprietorship. The proprietorship is divided into small portions are identified as shares. To establish how much of the business each individually shareholder maintains, shares are purchased and retailed to any person that wants it. If a company is doing well with the stock market, the cost of the share would be raised. If the business was not doing well, with their stock market, the cost of the share would drop significantly. Fundamentally, when shareholders possess more shares, clearly their profits will be increased as well as the quantity of significant administration judgments that would have to be constructed. With the absence of management understanding that I have,…...

Similar Documents

Premium Essay

P2 Unit 2 Business

...any part of the business. British Red Cross Donors Staff/volunteers Benefactors Government British Red Cross Donors Staff/volunteers Benefactors Government British Red Cross is a voluntary business set up to help UK and overseas people in crisis. It is also an international business. Stakeholders for the business include: STAKEHODLERS STAKEHODLERS * Employees /Voluntary workers (internal) – these are the people that work for the business to help them raise the money they need to carry out what their aim is to do. The employees aim to get a wage from working from the business, whereas the voluntary workers aim to help raise money for the charity. These are one of the most important stakeholders of the business because without them the business will not be able to run. * Government (external) – this is another major stakeholder for the business because they fund what the business needs to do to raise the money. Without the government funding the charity they wouldn’t have the shops and events that go on to make the business/ charity work. * Benefactors (external) – these are another stakeholder in the business because they rely on the business raising money for them to help with the needs the business raise money. The benefactors are the main reason in which the business is running, without them needing the help, the business would have nothing to run for. * Donors (external) – these are one of the major stakeholders within the business because......

Words: 648 - Pages: 3

Premium Essay

Business & Admin Level 2 Unit 2

...Unit two: Principles of providing administrative services Assessment You should use this file to complete your Assessment. • The first thing you need to do is save a copy of this document, either onto your computer or a disk • Then work through your Assessment, remembering to save your work regularly • When you’ve finished, print out a copy to keep for reference • Then, go to www.vision2learn.com and send your completed Assessment to your tutor via your My Study area – make sure it is clearly marked with your name, the course title and the Unit and Assessment number. Please note that this Assessment document has 9 pages and is made up of 9 Sections. Name: Victoria Jayne Edwards Section 1 – Understand how to make and receive telephone calls 1. Complete the table below with descriptions of at least two different features of a telephone system and how / when they would be used. |Feature |How / when used | |1. Answerphone |This is usually accessed by pressing the number 1. It enables you to| | |access and listen to messages that have been left by others, such as| | |colleagues or potential customers. | | ...

Words: 7077 - Pages: 29

Premium Essay

Business Managment Unit 9 Assigment

...Unit 9 Assignment Unit 9 Assignment Edmon Manguda March 4, 2014 AB140: Introduction to Management The most concerning issue that Dalman and Lei face is the feeling of criticalness with respect to their innovative headway. Dalman and Lei are under a great deal of weight to embrace this new innovation and execute it in an exceptionally constrained measure of time. The expansion in clients has left Sandwich Blitz just about injured. Their representatives are unable to legitimately satisfy the greater part of the requests coming in which thus is reflecting contrarily upon their business. The greater part of the slips that are continuously made will in the long run their business into the ground. Clients now need a quality item and an extraordinary administration experience. Without these two things, clients will no more decide to visit Sandwich Blitz. The other territory of concern is the measure of help Dalman and Lei need from the directors. Correspondence is going to have gigantic impact in this accomplishment of this new e-client request framework. Without compelling correspondence between Upper-Management, Middle-Management, Front-Line Workers, and the innovation group this new program will come up short beyond any doubt. Dear Management Team, We here at Sandwich Blitz, Inc. are confronted with various issues. We have observed the negative input we have been appropriating. We are completely attentive to the expanding measure of requests being set and......

Words: 451 - Pages: 2

Premium Essay

M2 Unit 2 Business

...dealing with customers. Asda are looking for this skill because you will be dealing with customers constantly throughout the day and may have to deal with customer complaints and queries, it is also cost effective for the company if you already have experience rather than them spending money to put you into training which may not be the best thing for them this is because if they keep putting people into training and they don’t enjoy the job and leave or get fired then Asda will have wasted their money, where as if they find people that already have the experience of dealing with customers they can work straight away and Asda will not have to pay for their training which would save them time and money. Only those suitable for the job will get through to interviews. Asda need to ensure that their staff has a minimum C grade in maths and English at GCSE level. The employer can find this in the application form within the personal statement. From this stage, when accepted, suitable applicants make it to the interview stage where they are assessed on their interview skills, in the interview the interviewer may ask you about the grades you entered on the application form. Asda don’t want to be wasting any money in this process so it is vital that recruit the people with the key skills, the person would need to have English to write a report if any incident happened so you would need to write formally and professionally and For example if an employee did not have any GCSE’s in......

Words: 717 - Pages: 3

Premium Essay

Business Btec: Unit 2

...Bilborough College College Way Nottingham NG8 4DQ Riverside Café Canal Street Nottingham NG2 1CB 17th November 2014 Dear Adam and Josh, Having looked at the predicted and actual budgets for the business, I am going to give you some advice on how to manage your money more effectively which could start to help you and the business make a profit again. It is very important that you look after your cost and your budgets because you will be able to manage your finances; if you manage your costs you will be able to save more on your expenses which can then lead to increasing your revenue, for example if you controlled your costs you will be able to save money and then by having the correct amount of stock which can then be sold for money which will then bring extra money in so that you can spend that money on improving your business. If you didn’t look after your costs the amount that you spent on your expenses could impact on the amount of profit that you make. If you control your budget then you will be able to increase you income, you’ll be making sure that you have working capital and you will be able to set aside extra money when it is needed. You are over spending on the following things: stock, wages, administration, insurance, interest and loans, bank charges and repairs and maintenance. There are ways that you can adopt to make sure that the overspending stops. You could hire an accountant to help you structure you budgets, you could do research on what......

Words: 2403 - Pages: 10

Premium Essay

Business Unit 2

...Annabelle Linney Unit 2: People in business 20970 9047 Introduction In this portfolio I am going to produce work investigating a local business. This will include me describing the roles and responsibilities of a supervisor, manager and employee within this business. I shall also make plans and take part in recruitment and the selection process, this will explain the self-regulatory, legal, social and ethical responsibilities considered in the recruitment process. I will then show this through a practical exercise and participation in a mock interview which is part of the interview panel. This will also include the vacant position, the development of the key recruitment documentations. During this I will analyse how the following contributed to the effectiveness of the recruitment process. Lastly I will judge the effectiveness of the recruitment exercise’s processes and will recommend ways in the recruitment documentation, the interview process and the training and motivational methods used and the relevant which it could be improved. In AO1 I will write a detailed and comprehensive description for a manager, supervisor and employee. This will include their roles and responsibilities, the qualities they should have and their training and development opportunities. The realistic and detailed examples are used to illustrate the methods of motivation used by the business to retain staff and to have relevant PEST factors in the workplace plan. For AO2 I will......

Words: 21728 - Pages: 87

Free Essay

Business L2 Unit 2 P1

...Unit 2 P1 Aims are broad statements of desired outcomes, or the general intentions of the research, which 'paint a picture' of your research project. They emphasize what is to be accomplished (not how it is to be accomplished). They address the long-term project outcomes, i.e. they should reflect the aspirations and expectations of the research topic. Once aims have been established, the next task is to formulate the objectives. Generally, a project should have no more than two or three aims statements, while it may include a number of objectives consistent with them. Objectives are subsidiary to aims and are the steps you are going to take to answer your research questions or a specific list of tasks needed to accomplish the goals of the project. They emphasize how aims are to be accomplished and must be highly focused and feasible. They must address the more immediate project outcomes and make accurate use of concepts. They must be sensible and precisely described and should read as an 'individual' statement to convey your intentions Private owned companies such as Tesco focus on customers, employees, the cost of their products and whether they are offering value for money. Tesco’s mission statement is ‘we create value for customers to earn their lifetime loyalty.’ Publicly owned organisations such as the Department of Transport may mention the service they provide, the work they do and include statements about quality, efficiency and customer service. The Department of......

Words: 406 - Pages: 2

Premium Essay

P5 Unit 2 Business Resources

...P5 Interpret the contents of a trading and profit and loss account and balance sheet for a selected business’s annotated final accounts. The trading account shows the business has made a gross profit before taking into account other expenses associated with the business such as overheads. The purpose of a profit and loss account is to: Show whether a business had made a profit or a loss over a given time period (e.g.financial year). Describe how the profit or loss arose (e.g. categorising costs between most of sales and operating costs). Sales/Revenue is an income earned by the business from the sales of its products/services over a period of time, including discounts and deductions for returned merchandise. Sales/Revenue is known as the “top line” because it is displayed first on a company's statement. Expenses are deducted from revenue in order to obtain net income— the “bottom line”. Sales is calculated by multiplying the price at which goods or services are sold by the number or units or amount sold. Gross Profit it is a company’s total revenue, only those expenses directly related to the production of goods for sale, called the cost of goods sold (COGS). These include expenses for raw materials and the labour to assemble a product but exclude other: debts, taxes, interest or operating expenses. Gross profit can be calculated with formula: Gross profit = revenue — costs of goods sold. Cost of Goods Sold (COGS) are the direct costs......

Words: 968 - Pages: 4

Premium Essay

Business Unit 2 Assignment 1

...Recruiting and retaining the right people Edexcel BTEC L3 Business Studies Unit 2 Business Resources I have gained an internship at my school, and I will spend 6 weeks supporting the human resources department. Currently the most experienced member of the human resources department, is away on long term sick leave. The school is looking to make sure I can help maintain its ability to recruit the right staff and control their financial and non-financial resources. Task 1 Describe the recruitment documentation used in your selected organisation. Specific Job- Teaching Job Job Description Once it has been decided that a vacancy exists the first document that would be needed is the job description. The job description would be needed just in case it need to be changed. The description is the document that gives you a detailed description of the job, what the job entails and any other information that you would need to know about the job. The job description is an important document because tells you specifically what you will be doing, for instance the first thing you would see on the job description would be the job title so you know exactly what you are going to be doing if you get the job, so for the teaching vacancy it would say Science Teacher. The document also tells you who you will be accountable to and who you will be accountable for so applying for a job such as a teacher you would be accountable to the head teacher but you would be accountable for the students......

Words: 4430 - Pages: 18

Premium Essay

Business Unit 2 Assignment 1

...Recruiting and retaining the right people Edexcel BTEC L3 Business Studies Unit 2 Business Resources I have gained an internship at my school, and I will spend 6 weeks supporting the human resources department. Currently the most experienced member of the human resources department, is away on long term sick leave. The school is looking to make sure I can help maintain its ability to recruit the right staff and control their financial and non-financial resources. Task 1 Describe the recruitment documentation used in your selected organisation. Specific Job- Teaching Job Job Description Once it has been decided that a vacancy exists the first document that would be needed is the job description. The job description would be needed just in case it need to be changed. The description is the document that gives you a detailed description of the job, what the job entails and any other information that you would need to know about the job. The job description is an important document because tells you specifically what you will be doing, for instance the first thing you would see on the job description would be the job title so you know exactly what you are going to be doing if you get the job, so for the teaching vacancy it would say Science Teacher. The document also tells you who you will be accountable to and who you will be accountable for so applying for a job such as a teacher you would be accountable to the head teacher but you would be accountable for the students......

Words: 4430 - Pages: 18

Premium Essay

Business Unit 2 P6

...Unit 2: Business Resources P6 Introduction In this task I will illustrate the use of budgets as a means of exercising financial control of east ham shipping. Fixed cost Fixed costs are the expenses that do not change regardless of the activity of a business. For example Eastham shipping has to pay rent and utility bills and all of their overheads regardless of sales or profit. Variable cost Variable costs are costs that can change depending on the activity of the business such as production volume and sales. An example for east ham shipping may be the cost of their fuel. Since fuel prices change due to supply and demand this can be a variable cost. Fuel usage can increase or decrease due to the amount times East ham shipping has to ship Items. Semi variable cost Semi-variable costs are made up of different fixed and variable components. Semi-variable costs are fixed for a certain limit of production or consumption once this limit has been exceeded the cost then becomes a variable. Step cost A step cost is a fixed cost within certain limits. Step costs are expenses that stay the same until a level of activity has been reached. For example if in East Ham shipping employee receives between zero and a certain amount of orders to process then the company will only need one employee. However if this limit is exceeded then East ham shipping will need to hire an extra employee A budget is a plan of expenditure usually tied to a fixed period of time as well as......

Words: 271 - Pages: 2

Free Essay

Unit 2 P2 Business

...are getting value for money. Quite often, people associate themselves with certain brands they buy. Organisations and businesses are dependent upon their customers. Customers want good quality products and services for affordable prices. They like to see improvements constantly being made so that they feel they are getting value for money. Quite often, people associate themselves with certain brands they buy. Organisations and businesses are dependent upon their customers. Tesco’s customers have a huge influence over the business. They use their customer insight to make any appropriate and needed changes to their business. If Tesco don’t offer the right services, products and promotions, then their customers will end up shopping in alternative stores. This will reduce any profit being made. Tesco’s customers have a huge influence over the business. They use their customer insight to make any appropriate and needed changes to their business. If Tesco don’t offer the right services, products and promotions, then their customers will end up shopping in alternative stores. This will reduce any profit being made. Shareholders are often the most important type of stakeholders. This is because, without them, businesses lose their value which will affect its overall business standing and performance. Shareholders are often the most important type of stakeholders. This is because, without them, businesses lose their value which will affect its overall business standing and......

Words: 2217 - Pages: 9

Premium Essay

Business Btec Unit 2 P1

...Unit 2 P1 & P2 For this assignment I will be describing the recruitment documentation used in ASDA. I will be talking about the employability, personal and communication skills required when applying for a specific role. Every organisation has different recruitment documentations and I will outline which documentations will be cost effective for a business. And I will also explain the different skills needed for different jobs. Job Description I have searched online for a job suitable for my demographic in a well-known supermarket; ASDA. I have chosen the job role of being a checkout operator. The first recruitment documentation I will be explaining would be the job description. The purpose of this section is to allow the candidates to be aware of what they need to do for the role. The description covers the job title and explains what duties the candidates are responsible for. It is also a document stating the initial role of the job that is being advertised and allows candidates to know what they are applying for and allows them to be prepared for the interview. Job descriptions are used through all stages of the recruitment process and is often used in the advertisement, be reminded of this again in the interview stage and being a successful employee by revisiting this document that the job requires and the hours that they are expected to work. Person Specification Each job role will have a different person specification because each one will need different skills...

Words: 1255 - Pages: 6

Premium Essay

Unit 2 - Starting a Business

..."We're Moving On Up" Mike and Earl Moore, owners of College Men's Unlimited, have just signed a 5-year lease in the new College Town Mall. The new mall is ideally located for their business—a short walk from campus and only two blocks from downtown. The far side of the mall is bounded by the most prestigious homes in the city. It will be opening in 5 weeks, and Mike and Earl are lucky to have such a prime spot. Ray Thomas, their banker, called them last Wednesday with word that the store, which had agreed to take the space they just leased, had canceled. Eighteen months ago when the mall had put this location up for lease, they were not in financial condition to make a commitment. In the last 18 months, however, business has been exceptional. The city has grown, and the college has experienced expanded enrollments. By next Monday morning, Mike and Earl must provide the mall developer with a complete layout for their new store so the developer can assign an emergency work crew to complete the store for the grand opening. College Men's Unlimited is a full-line men's store offering middle- to upper-quality traditional men's wearing apparel. The present location is an old two-story house that Mike and Earl converted into their combination business and living area. The house has 4,000 square feet of area, 3,600 being used for the store, and the rest for a 3-room apartment. The new store has a 40-foot front and is 70 feet deep. The mall developer is willing to put up walls......

Words: 460 - Pages: 2

Premium Essay

Business Law - Unit 2

...Unit Two Assignment – Why is Strategy Important to Business? Your Name Kaplan University School of Business and Management MT460-02 Management Policy and Strategy Dr. Daniel K. Dayton Date Unit Two Assignment – Why is Strategy Important to Business? This assignment will address why strategy is important to business. One will address the primary components of strategic management in the process of discussing the significance of strategy for business. Strategy is defined as the best practice of figuring out the best way to get from here to there (Arauz, 2012). According to Pearce and Robinson (2010), strategic management is defined as the set of decisions and activities that lead to the formulation and implementation of plans that have the purpose to achieve a company’s goals. Strategic management has nine important components to help an organization do a better hob. The first component is to devise the business mission, including statements about the reasoning for the mission, the philosophy, and also the goals. The second component is to perform an analysis that exposes a corporation’s internal conditions and capabilities. This component is known as the SWOT analysis, where the strengths, weaknesses, opportunities, and threats, are evaluated. The next task in a strategic management process would be assessing the company’s external environment, considering both the competition and the general contextual factors. Consequently, this task may be part of...

Words: 755 - Pages: 4