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AO2 business

Extracts from this document...

Introduction

AO2 How the Enterprising Business is organising. It is important for all entrepreneurs to run their businesses smoothly and successful to satisfy their costumers and make a profits. There is a number of characteristic that enterprising business should present. An enterprising business should be able to spot a good opportunity and to have the vision and drive to make the business succeed. The management on an enterprising business is receptive to new ideas and follows these through if appropriate, but also is not afraid to take a risk in some decision that might be beneficial on growth their company. An enterprising business brings together the resources available to it, land labour, and capital and uses these in the most effective and innovative way to generate profit. A business employs a variety of resources when it produces goods or services. These resources are normally divided into categories and are known as 'factors of production'. Every successful business has factors of production. Land Land includes everything on or under the earth's surface such as coal and other mineral deposits. It also includes rivers, lakes, seas and all other natural resources. Land represents all natural resources, but also is relate to the location of the businesses. It is important for all entrepreneurs to choose the location of their business carefully that they will consider every advantages and disadvantages of place and how can they efficiently use the natural resources of the land that might help to run the business or sell better products. Entrepreneur should also consider of how easy is access to their business and is it comfortable to their customers. The owners of the Canal Court Hotel use their land in a very efficient way. The thing that makes this company successful is location of the hotel in city centre between two capitals cities: Dublin and Belfast. It also makes the Canal Court the most using place for meetings, because it is situated in the middle of the way so it encourage more people (especially business people) ...read more.

Middle

An organisational chart shows the way in which the chain of command works within the organisation. The way in which a company is organised can be illustrated for a packaging company. The company will be owned by shareholders that choose directors to look after their interests. The directors then appoint managers to run the business on a day-to-day basis. In the company structure outlined above: The Managing Director has the major responsibility for running of the company, including setting company targets and keeping an eye on all departments. The Distribution Manager is responsible for controlling the movement of goods in and out of the warehouse, supervising drivers and overseeing the transport of goods to and from the firm. The Production Manager is responsible for keeping a continuous supply of work flowing to all production staff and also for organising manpower to meet the customers' orders. The Sales Manager is responsible for making contact with customers and obtaining orders from those contacts. The Company Accountant controls all the financial dealings of the company and is responsible for producing management accounts and financial reports. Every business should have a well going organisational structure, because it is very important and beneficial for the company. One of the reason why it is so important is because it aware the employees of who their supervision or manager is, they should know who they will ask and report any problems at workplace. It let also employees as well as employers feel familiar with the route by which communication passes. It also highlights the composition of all the departments and lines of communication within the organisation and enables a business to meet its aims and objectives. The beneficial thing for the company is that it organisational structure helps to implement effective organisational skills and makes it easier to communicate. There are two main types of Organisational Structure: Tall (hierarchical) Structure and Flat Structure. ...read more.

Conclusion

Hotel is situated in centre of Newry between two capital cities Dublin and Belfast, its provide also easy access to local attractions like two the biggest shopping centre and local transport. All those things are made that the popularity of the Hotel had extremely increased. Marketing Mix The marketing mix is the combination of factors that affect a customer's decision to buy. The price has to be right, the product has to be right, the product must be distributed to the right places and its has to be promoted in the right way. The factors in the marketing mix have to work together. Businesses may have to compromise on some elements - the budget for a product might not allow top dollar spending on all elements of the mix. The marketing mix puts the marketing strategy into practice. Product The products are whatever's being sol like goods and service and it is the most important thing in the Marketing Mix. Marketing folk usually see the product as the most important ingredient of the marketing mix. A lousy product isn't likely to meet the needs of customers, even if the price, distribution and promotion are great. Products give tangible benefits that can be measured. Products also give intangible benefits that can't be measure like reputation or corporate image. The features of a product are important but so are things like reliability, customer service, money back guarantees and how easy it is to get hold of spare parts. Price Price is the part of the mix. Price determines the revenue that businesses get. Price is balance between being competitive and being profitable. Too high and people won't buy. Too low and you won't make enough profit. In a competitive market, customers have lots of choice, so price is an important factor. In a monopoly, there's only seller in the market, and customers have no choice. A monopoly seller can charge high prices. The price must fit in with the other aspects of the marketing mix e.g. the quality and desirability of the product. ...read more.

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