...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...
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...P1- Describe the type of ownership, purpose and ownership of two contrasting Businesses |Key Content: | |Range of different businesses: local; national; international; global; public; private; not-for-profit/voluntary; sectors of business activity (primary, | |secondary and tertiary) | |Business purposes: supply of products or services; difference between profit and not-for profit organisations | | | |Ownership: public, private and voluntary sectors; types of ownership (sole trader, partnerships, private and public limited companies, government | |departments, government agencies, worker cooperatives, charitable trusts); main implications of different types of ownership on businesses (extent of | |liability, limitations to operation for public and charitable organisations) | Note: Complete the writing frame describing your knowledge of each aspect, you must also provide examples to demonstrate your understanding. Part 1: Range...
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...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...
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...Unit 19 Developing Teams in Business Assignment 1: P1 & P3 Different types of teams What is a Team? A team is individuals whom are moulded into a group who work together to achieve an objective or task. Team Recruitment Recruiting the right team members is the key to the success of your team. When the leaders of any group recruit new members, there are a number of skills, qualities needed as well as a process that each member has to go through in order for them to be an successful addition to the team. This process is called job analysis from where a person specification is drawn up and following all the qualifications and qualities that a new team member would be expected to have. The process of recruitment for a successful new team member’s selection. Recruitment> selection> -training •coaching •mentoring •motivation the first steps to a successful recruitment > recruiting and selecting people who will be good team players > training them, providing mentoring and coaching to help them to perform better in the teams > creating your high-performance team. R (Reference: Business BTEC national book1 level 3, page 363) Benefits of a team * Working in a team as part of a company is good as every individual has their own contribution to the team they all share their ideas to help better the company * Team work empowers creativity within the members * Each individual grows as they have other team members to support them There are different...
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...P1 – Define Aims and Objectives Introduction: Businesses set aims and objectives which they would like to achieve. For this task I will define what is meant by the aims and objectives of businesses in different sectors. Mission Statement: • Many organisations have a mission statement. A mission statement is… • The wording may be different depending on the sector. For example in the private sector… • In the public sector… • In the not-for-profit sector… (Use examples of mission statements from the three organisations you are using) Aims and Objectives: • Aims are… (definition, time to achieve, examples are profit maximisation, break-even, survival, service provision, sales, growth, market share, relationships with other businesses) • Objectives are…(definition, time to achieve, how do they relate to aims) • Objectives have to be SMART because… This means…(explain each element) Private Sector Aims and Objectives: • The organisation that I will write about is…(identify main products/services provided) • The aims of the organisation are… • To achieve these aims, the organisation can set objectives such as… Public Sector Aims and Objectives: • The organisation that I will write about is…(identify main products/services provided) • The aims of the organisation are… • To achieve these aims, the organisation can set objectives such as… Not-for-Profit Sector Aims and Objectives: ...
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...P1- Describe the internal and external factors to consider when planning the human resource requirements of an organisation M1 explain why human resource planning is important to an organisation Internal planning factors: The internal planning factors are what influences the organisation in what is already happening inside the organisation which include the skill requirements, organisational needs and workforce planning. Organisational needs: This is having all the correct roles filled within the tall structure with the suitable people in the business that can do the job right. All businesses will need change their organisational needs once in a while in the business this is due to the demand can influence the number of people needed in certain roles. Oxford spires Academy will need to consider the following the work force plan this is to make sure that they have a good support of staff with the correct skills in order to cater for OSA needs and students. Therefore they may need new staff for a particular subject to make the subject grow and to provide students with the right learning of that particular subject. This can be essential in OSA as without the right amount of staff it can mean they will lack the ability to provide all the students with the right teaching and it can take time to work with everyone. If they were to have a big group due to less teachers for the business lessons it can meet not every students needs will be met and this have an effect on their overall...
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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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...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...
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...Personal specification – The personal specification provides details of the ideal candidate; allowing a previous ‘perfect’ employee image for the interviewee. It provides details of the ideal characteristics of which the company is looking for within a candidate. It narrows down candidates to show which ones are more suitable for the position. This is a good way as a short listing process. Allows an idea of the skills, qualifications, experience and knowledge needed before the interview, and can be cross-referenced during the interview stage, as well as browsing over the application. It’s a good way to check off the key requirements that are needed so the emich is employing. Most employers tend to use this in the recruitment stage of interviews and personal meetings, it’s a key item because you can detach yourself from personal attachments, and tick them off via the criteria that the company has set. Job description – Allows the employee to gain an insight of to what the applicants role will be, including the job title, location, reference number, reporting relationships, job purpose, job dimensions, organisational chart, main responsibilities, communication and working relationships, most challenging part of the job, health and safety, equal opportunities, job description agreement. The job description is a perfect tool for employers to use as the information that it gives to candidates is really helpful, candidates also sign off the agreement; this protects...
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...same principle of separation might work on a vacuum cleaner. I rigged up a quick prototype, and it did.” It took five years and a further five thousand one hundred and twenty-six prototypes to perfect his design, and almost another decade of failed licensing deals and countless fruitless meetings with distributors before Dyson’s Dual Cyclone vacuum cleaner finally went on sale in the UK in 1993. Having failed to interest any manufacturers in the design, Dyson had mortgaged his house to set up his own manufacturing plant. “I liked living on the edge,” he says. “All those years that my house was in hock to the bank… I liked the danger, the idea that everything depended on getting that next product right in every way.” By 1996 the business was growing rapidly and he needed to consider new management strategies. “I had to bring in outside talent in a major way,” he says. “I didn’t enjoy being CEO that much. At an operational level, that became an enormous job, too big for me. I’ve never really been a businessman. I...
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...dentify how two organisations plan recruitment using internal and external sources? My first organisation is Tesco because I think there internal and external is very basic to explain and I have a lot of knowledge. Internal recruitment: means that the person recruiting from the job will be taken from the organisation. In Tesco it will give current employee to get a promotion because it will be cheaper to advertise and all the candidates know the organisation well. External recruitment: for external recruitment, Tesco advertises via the Tesco website www.tesco-careers.com or though vacancy board in stores, applications are made online for managerial positions. The chosen applicants have an interview followed by attendance at an assessment centre for the final stage of the selection process .people interested in store-based jobs with Tesco can approach stores with their CV or register though jobcentre plus the store prepares a waiting list of people applying in this way and calls them if there are jobs available . My second organisation is JDSPORTS Internal recruitment: organisations like JDSPORTS will sometimes decide to advertise a vacancy internally first if nobody meets the job description there will advertise it on the web, in stores you will have to hand your CV to the manager and JDSPORT hands out questionnaires to people there think will meet the job role . External recruitment: The external recruitment and campaign increase the popularity the organisation on the...
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...My Task – P1 Scenario –I Barry Andrews work as a junior journalist for the local newspaper which is planning to run a feature article on businesses. Tesco: Jack Cohen was reluctant to go back to tailoring after the First World War. This is when he started selling stuff on market stalls. In 1919, Jack Cohen started selling surplus groceries from a market stall in the east end of London. He then owned a number of stalls which at first were ran by his family but after time he gradually employed non-family members. By now he had also had a wholesale business. In 1924 Jack sold his own-brand product which was tea. This tea had come from a firm of tea suppliers of whom T.E Stockwell was a partner. Jack then came up with the name of Tesco by using the initials from T.E Stockwell and the first to letters of his surname. After a while the market trading business became difficult as partners became unreliable so he eventually turned to high street shops without doors. The first two Tesco stores were opened in London in a large estate in the Borough of Barking and Dagenham. This area was called Becontree. The other was in Burnt Oak. These were opened in 1931. By 1939 Jack Cohen had opened up over 100 Tesco Stores. Tesco showed its expansionary zeal early on by buying up rival shops. In the 1950s the retailer bought 70 Williams stores and 200 Harrow stores, followed by 97 Charles Philips stores and the Victor Value chain in the early 1960s. In 1961 Tesco Leicester entered the Guinness...
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...Business Organisations Public Limited Company * A public limited company is the largest type of business. These companies end their names with plc, the shares are usually traded on the stock exchange and can be owned by members of the public and institutional investors such as large banks and insurance companies. This type of business can raise a large amount of money by selling shares and use this to expand or develop the enterprise. All shareholders have limited liability. Limited liability is when the shareholders (owners of the company) are legally responsible for the debts of a company, only the value to their shares. Advantages: * Shares can be advertised * Shares can be sold through the stock exchange * Cheaper borrowing and bulk purchasing * The companies name is protected * The company continues despite the death, resignation or bankruptcy of management and members * Employees can acquire shares Disadvantages: * Going public can be expensive * Some plc's so large that they become difficult to manage effectively * Risk of takeover by rival companies who have bought shares into the company. * Market goes up and down so it’s a gamble * Extra work involved with dealing with investors. * Public limited companies become plc’s because they can sell shares on the stock exchange which will bring in a lot of income. This can be used to expand the business. The bad thing of becoming a plc is you could lose ownership...
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...organisational meeting setting departments different aims and objectives. Partnerships- Some of Iceland’s food are supplied to ShopRite, which have 11 stores. Aims and objectives of Iceland- The aims and objectives of Iceland are, to improve popularity over the next 5 years, to improve on minimising waste and to get more involved in helping communities. Social and political factors- Over the last couple of years, it emerged that Iceland; along with other supermarkets, were selling horse meet in some of their meat products. Another factor is tax and in the last seven years, Iceland has paid over £500 million in tax which Malcom Walker says is a good return but Walker said that the government still try and ‘snuff the fun’ out of business by taxing as a benefit. Another social factor was the customers and who might be more likely to buy the frozen food products. With this in mind, they advertised the products at Iceland to be good value to mums with children and they used the slogan ‘that’s why mums go to Iceland’. National health service-...
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...both organisation influence their businesses I will do this by including their aims and objectives. Stake holders are people who are interested in the business and use the goods or services, for example the stake holders such as customers use the services of the Metropolitan police and the customers that are interested in apples inc products are the people who purchases it and use it for their own personal use. Metropolitan Police Stake holders Descriptions (what it is) How they affect the business (influence) Government Metropolitan police work under the government services. The government sets and administers public policy, and exercises executive, political, and sovereign power through customs, institution and laws within state. This is known as the body which everyone follows and applies. This is known as the ultimate power. Is owned by the government, decision making affects the Metropolitan police because the government influence the Metropolitan because the government tells the Metropolitan police to follow through with the issue or rule. Local communities Local communities bring up local issues within in the economy the main issues that come up within the business is the action of government and set of laws they pass through this can have dramatic effect on communities. The Local Community can influence the business by doing petitions, lobbying, strike, campaigns against a particular issue, for example tuition fees on university. The aim for metropolitan police...
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