...Ownership Ownership is having control over a business/organisation and being able to dictate its functioning and operations. These businesses or organisations can be split into two main sectors either the public or the private sector. The public sector consists of non-profitable businesses/organisations such as charities. However, the private sector consists of profitable business/organisations in various forms such as sole traders, partnerships, franchises, private limited and public limited. Types of business in the Public sector Charitable Organisation Charitable organizations are a kind of business that fit within the nonprofit category meaning all profits are re-used in order to re-invest back into the business. In general, this type of entity is sometimes referred to as a charity or foundation, which can be run publicly or privately and has unlimited liability or in other words has full responsibility for the entire amount of debt and other liabilities combined by the organisation. Depending on the location of the charity, the legal definition of what creates a charitable organization may depend on its country of origin. Therefore, the tax which also applies to a charity will also depend upon the region or country in which the charitable organization is based or operates from. Being a business/organisation there are many advantages and disadvantages. The advantages of being a charitable organisation are that there are certain tax exemptions and tax reliefs for taxpayers...
Words: 2026 - Pages: 9
...Contrasting Business Types by Purpose, Ownership and Stakeholder Impact Introduction For this assignment I have decided to use two separate and contrasting companies both having separate business purposes. The two businesses I have chosen to write about are UNICEF and John Lewis partnership. UNICEF is a non- profitable international organisation whose main purpose is to address the needs of struggling children around the world to ensure that all children can at least get their basic needs that they deserve and have the human right to. UNICEF was created on December the 11th 1946 and was original called the United Nations international children’s emergency fund which then became UNICEF for short. However in 1953 UNICEF changed the name slightly by removing the “international” and the “emergency” nonetheless they still kept the short name the same. Due to UNICEF being the leading charitable organisation for the development of children, they have won awards like the noble peace prize. Due to UNICEF being a charity it is governed by a board of trustees that the company picks. These trustees meet frequently to discuss the direction and the aims of the charity. There is no ownership however there is a president that oversees everything the charity does and creates the aims that the trustees have to try and accomplish. UNICEF is in the tertiary sector as they are providing a service to the people in need and also do not hold any liability. John Lewis partnership is a company which...
Words: 1901 - Pages: 8
...P1 I will be relating the type of business, purpose and ownership of the two contrasting organisations. The two organisations that I will be choosing are: Oxfam and Sainsbury’s. Sainsbury’s Purpose/aims of Sainsbury’s The purpose of Sainsbury’s is that they are trying to make as much profit as possible, as they are competing with other supermarkets and be the number one UK’s supermarket, and this will allow them to expand on their business. Sainsbury’s have a long term goal to deliver their products and keep their customers happy. One of their objectives is to make life easier for their customers by offering products with good quality and service with a fair price. This also makes the customers happy and makes them want to shop there more. This helps Sainsbury’s to increase their profit rate. The fact that they have a clear, long-term strategy shows that they are informing future developments, and that they are thinking deeply and clearly on how to adapt, develop and grow quickly before they get left behind in the competition with competing against other businesses. Business activity Sainsbury’s is a national company as it has stores throughout the UK, and this shows that they are making profit day in a day out. Improvement within the business Sainsbury’s are doing many things to improve their business of their five values, so that they are improving the business and still staying in the market. By staying committed to their values, they are making their customer’s...
Words: 718 - Pages: 3
...1) Describe the type of business, purpose and ownership of two contrasting organizations Sainsbury’s Sainsbury’s is the UK’s most long standing major food retailer, having opened its first shop in 1869. Sainsbury’s brand is built around providing fresh and tasty food for its customers. It differentiates itself from other supermarkets by offering a broad range of products at a great price, a strong ethical approach to business and continuous leadership. The size of Sainsbury’s consists of 504 supermarkets and 309 convenience stores. A large Sainsbury’s produces over 30,000 products. Sainsbury’s is currently in the tertiary and secondary sector, this is because Sainsbury’s provides services (through banks), sell goods and own their own farm. Their purpose is to exceed customer’s expectations for fresh and healthy food, making their lives easier every day. Sainsbury’s ownership is the public limited sector because it sells its goods on the stock exchange. Sainsbury’s key stakeholders are: Customers: They want a company to produce products that meet or exceed their needs, they would like to see improvements Employees: They want the company to provide them a source of revenue; they seek security for employment, promotional opportunities and good rates of reward Suppliers: Want stable instructions and punctual payments. They want to be valued by the company they work for. RSPCA RSPCA stands for Royal Society of Prevention of Cruelty to Animals. The vision of RSPCA is...
Words: 525 - Pages: 3
...Unit 1: The business environment Help sheet 1.1.1 P1 Describe the type of business, purpose and ownership of two contrasting businesses To achieve P1, you must complete Task sheet 1.1.1, a case study, as well as Worksheets 1.1.1 to 1.1.4. You must also write a detailed presentation about two organisations. • You must ensure that the two organisations chosen are very different. For example, a large plc, such as Tesco, and a charity, such as Save the Children. This will make it easier to compare the environments. • It is a good idea to choose organisations that you are interested in, but that also have a large amount of information available. Therefore, spend some time researching a few organisations that might be of interest to see which one will make this task the easiest. • The same organisations will be used for tasks other than P1 so look ahead in the assignment to make sure the information you will need is available. • Once you have chosen your organisations, you need to research them in order to be able to identify the type of businesses they are. You must identify which scale they operate at and what sector they operate in. Make sure you give evidence and reasoning to back up your decisions. • The purpose and ownership of a business can often be seen on its website. However, you may find a phone interview very useful for collecting all the information you need. This can then be used as evidence. Remember to reference your work when necessary. ...
Words: 2464 - Pages: 10
...1) Describe the type of business, purpose and ownership of two contrasting organizations Sainsbury’s Sainsbury’s is the UK’s most long standing major food retailer, having opened its first shop in 1869. Sainsbury’s brand is built around providing fresh and tasty food for its customers. It differentiates itself from other supermarkets by offering a broad range of products at a great price, a strong ethical approach to business and continuous leadership. The size of Sainsbury’s consists of 504 supermarkets and 309 convenience stores. A large Sainsbury’s produces over 30,000 products. Sainsbury’s is currently in the tertiary and secondary sector, this is because Sainsbury’s provides services (through banks), sell goods and own their own farm. Their purpose is to exceed customer’s expectations for fresh and healthy food, making their lives easier every day. Sainsbury’s ownership is the public limited sector because it sells its goods on the stock exchange. Sainsbury’s key stakeholders are: Customers: They want a company to produce products that meet or exceed their needs, they would like to see improvements Employees: They want the company to provide them a source of revenue; they seek security for employment, promotional opportunities and good rates of reward Suppliers: Want stable instructions and punctual payments. They want to be valued by the company they work for. RSPCA RSPCA stands for Royal Society of Prevention of Cruelty to Animals. The vision of RSPCA is...
Words: 525 - Pages: 3
...Business purpose and ownership To: The Chief Executives of Nike and Trafford Council From: Tom. Jackson, Management Consultant Date: 21st October As a consultant management you (Nike/Trafford Council) have given me the task of issuing a report about your company and how they are set up. Within this report I shall be reviewing both business set ups. Nike is a Global business as the business is known all over the world with Nike clothing and accessories being sold world wide. In terms of the type of business that Nike operates in they are a Public business as anyone can invest into Nike on the New York stock exchange. Nike belong to the secondary industrial sector as Nike’s largest aspect of their business is manufacturing their goods such as shoe wear and general sports equipment. Trafford Council is a regional business as it only serves the people of the Trafford Metropolitan Borough of Greater Manchester. Trafford Council as a business is not for profit as it serves to fund trafford residents with local needed necessities such as: local schools, parks, street lights etc. Trafford Council belongs to the tertiary sector of business as Trafford Council is a service thus it is within the service sector which goes under the tertiary sector. As a globally recognised organisation Nike’s main business purpose is for profit maximisation, by helping to meet profit maximisation Nike have vast global advertising to help them sell as many Nike accessories as possible...
Words: 416 - Pages: 2
...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
...BTEC Business Unit 1: Business Purposes Learner Name: | Centre Number: 23168 | BTEC Business | | Learner No: | | UNIT NUMBER AND TITLE: | Unit 1: Business Purposes | ISSUE DATE: | | HAND IN DATE: | | RESUBMISSION DATE: | | ASSESSOR: | | Aims The aim of this unit is to enable you to understand the nature of business organisations and the business environment in which they operate. You will do this by looking at the range of organisations that exist locally, regionally and nationally and by considering the business framework in which they operate Work covered You will: * Understand the purpose and ownership of business * Understand the business context in which organisations operate Understand the purpose and ownership of business Purpose: supply of goods and services e.g. at a profit, free, at cost, for sale below cost Ownership: sole trader; partnership; limited companies (private [ltd], public [plc]); charity; voluntary organisations; co-operatives; government Size: small; medium; large Scale: local; regional; national; European and global organisations Classification: primary (e.g. farming, forestry, fishing, extraction/mining); secondary (e.g. manufacturing, engineering, construction); tertiary (e.g. private service industries, local and national public services, voluntary/not-for-profit services) Understand the business context in which organisations operate Role of government: European; national;...
Words: 786 - Pages: 4
... | Assessor name | | | | |Date issued | Hand in deadline |Submitted on | |23 June 2014 |22 September | | | | | |Assignment title |Assignment 1: Type, purpose, ownership and stakeholders | |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 |To achieve the criteria the evidence must show that the learner is able to: | |Task no. | |Evidence | |reference |...
Words: 894 - Pages: 4
...ASSIGNMENT 1 – Two Businesses on our Doorstep Learner Outcomes: 1. Know the range of different businesses and their ownership 2. Understand how businesses are organised to achieve their purposes Scenario: You work as a junior journalist for the local newspaper which is planning to run a feature article on local businesses Task: 1. Learners must describe (P1) the type of business, purpose and ownership of two contrasting businesses 2. Learners must describe (P2), explain (M1) the different stakeholders who influence the purpose of two contrasting businesses 3. Learners must describe (P3) how two businesses are organised 4. Learners must explain (P4) how their style of organisation helps them to fulfil their purpose 5. Learners evaluate (D1) the influence different stakeholders exert in one organisation TIP – Include the following: Range of different businesses Local, National, International, Global, Public, Private Not for profit/voluntary Sectors of business activity (primary, secondary, tertiary) Business purposes Supply of products or services, Difference between profit and not-for profit organisations Ownership Public, private & voluntary sectors Types of ownership (sole trader, partnerships, private and public limited companies, 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) Key stakeholders...
Words: 964 - Pages: 4
...Learning Outcome 1 - Know the range of different businesses and their ownership Assessment Criteria P1 Describe the type of business, purpose and ownership of two contrasting organisations Activities or scenario: You work as a business liaison officer with a local government council. This is an important role as it is involved with promoting the area as a good place to do business. The council is keen to encourage new businesses to relocate to, or start up in the local area, thus creating more jobs for local people. Your task is to investigate some organisations already operating in the area, to find out about how successful they are and how they operate, so that this information can be used at future planning meetings. Your research should be written up in the form of a well-structured report about them. You are to focus your work on ‘two contrasting organisations’. This task assesses P1 Describe the type of business, purpose and ownership of two contrasting organisations Your task is to investigate some organisations already operating in the area, to find out about how successful they are and how they operate, so that this information can be used at future planning meetings. Task 1 |Introduce the range of different businesses and their ownership. Include a summary of the following; | |Range of different businesses: local;...
Words: 523 - Pages: 3
...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...
Words: 530 - Pages: 3
...For this task 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...
Words: 2488 - Pages: 10
...bureaucracy of the country) to start an undertaking. Similarly, the big business houses were unable to start new enterprises because the Monopolies and Restrictive Trade Practices (MRTP) Act had prescribed a ceiling on asset ownership to the extent of Rs. 90 crores. In case a business house had assets of more than Rs.90 crores, its application after scrutiny by the MRTP Commission was rejected. It was believed that on account of the rise in prices this limit had become outdated and needed a review. The major purpose of liberalisation was to free the large private corporate sector form bureaucratic controls. It, therefore, started dismantling the regime of industrial licensing and controls. On April 14, 1993, the Cabinet Committee on Economic Affairs decided to remove three more items form the list of 18 industries reserved for compulsory licencing. The three items were: motor cars, white goods (which include refrigerators, washing machines, air-conditioners, microwave ovens etc.) and raw hides and skins and patent leather. In the case of cars and white goods (which include refr4igerators, washing machines, air-conditioners, microwave ovens etc.) and raw hides and skins and patent leather. In the case of cars and white goods, the basic purpose of de-reservation was to increase investment in industries in procuring cars and white goods so that the demand of the large middle class...
Words: 2341 - Pages: 10
