• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

applied business studies unit 2

Extracts from this document...

Introduction

The wildest milkshake flavours around My business is a milkshake bar called Shakey's which is located in Hayes School. We sell a variety of milkshakes to students and teachers of Hayes School. The milkshakes we sell have a wide range of unusual but nice flavours like chocolate fudge brownie or galaxy chocolate instead of a plain normal chocolate milkshake. Mission Statement "At Shakey's we aim to produce milkshakes of the best quality and taste to give pleasure to our customers. We want to become well known for excellence in Hayes School" Smart objectives * To have broken even before Christmas. * Shakey's should have at least sold products (milkshakes) to at least 10% of the students at Hayes School within the first two weeks. * To have 90% positive customer feedback on hygiene. * To achieve a 20% return on capital employed by December 2007 * To make Shakey's milkshakes the preferred drink of students and teachers in Hayes School by February 2008 Ownership and Legal issues Sole trader - A person who trades by himself/herself without the use of a company structure or partners and bears alone full responsibility for the actions of the business. Partnership - A legal business relationship of two up until twenty people who share responsibilities, resources, profits, and liabilities. ...read more.

Middle

Advantages of a Partnership Setting up a partnership is relatively easy. All that is required is for the people concerned to agree to share the decisions within a business, or start to work together as joint owners of a business. If this happens, they are automatically considered to be partners and will share both the responsibility and profit. As there is more than one owner, there will be more money available to help set up the business. New partners can bring in new skills and experience that may help the business to make more profit. You can share out the responsibilities between the partners. This means that no single person is responsible for running all of the business. If the business experiences financial difficulties there will be other people to share the costs with you. This reduces the risk of losing money. Expanding the business can be made easier as new partners can be introduced. They may put money into the partnership which could be used for buying new, or updating existing, machinery. Some financial details can be kept private from others, as you don't have to publish your accounts - many people do not like others to know how much they earn. Disadvantages of a Partnership The profits have to be shared among all the partners so there will be less money for you. ...read more.

Conclusion

The type of ownership Shakey's will be is a private limited company. It will be run be one person (a sole trader). I choose to be a sole trader as all the decisions in the business will be made by me, all the profits will go to me and it's easier and cheaper to set up. I would have chosen to be a partnership but I cannot risk relying on another/other person/people. I think being a sole trader is the best option for Shakey's as it is going to start up as a small business, I may consider becoming in a partnership as my business grows. Stakeholders Stakeholders are those groups and organizations having an interest or stake in a organization, Business, company etc. (e.g. regulators, shareholders, customers, suppliers, special interest groups, residents, competitors, investors, bankers, media, lawyers, geologists, insurance companies, trade groups, unions, ecosystems and cultural heritage). Stakeholders are important because everyone to do with the business is a stakeholder, so without a stakeholder there is no business. Each stakeholder has an important role in a business. Suppliers are important to a business as they supply a business with their goods or services, but say if a business upsets their suppliers (for instance if the business doesn't pay remaining debts) this would not be good for the business as they will need to get their supplies to run the business. ?? ?? ?? ?? Christopher Creech Unit 2; the school shop 1 ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level People & Operations Management section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level People & Operations Management essays

  1. Marked by a teacher

    Roles and Responsibilities of Staff Members at McDonalds.

    5 star(s)

    insurance when using RAC, holiday and theme parks discounts, discounted electrical goods and certain stores and online websites. When an employee has been working for McDonalds for 5 years they gain �125 worth of vouchers, 10 years �250 worth in vouchers, shift managers also gain the same bonus's as the restaurant manager which can be worth quite-a-bit.

  2. Private and Public Limited Company

    competitors also include Wendy's is McDonald's also largest rival, which is also in the fast food business, where Wendy's operates 6776 restaurants in 32 countries, and Hardee's, McDonald's largest rival is also in the fast food business and is the only direct competitor apart from Juicy Burger in the Lebanese market.

  1. Presenting Business Information

    Summarising: In Tesco, the sender of the information makes sure that the information they are sending to the recipient or employees is making sense in order to avoid any confusion. In most cases the information, which senders might be sending, might have irrelevant information, which might be of no use to the receiver.

  2. The main aim of this research is to evaluate the information on the human ...

    Between department member and manager, they should have good knowledge about organization and job. Below one system design is mentioned which is used every organization to evaluate all jobs. 3.8.3 Designing system In job profile assessment three criteria are used.

  1. Unit 13 Applied Business

    We used primary research to conduct our support on why we thought our idea would be good, and why it may not be. This gave us the means to choose the best event. We then created a questionnaire after choosing an event to find out what the public wanted for the day.

  2. Unit 2: Recruitment in the Workplace

    can just temporarily fill a vacancy and once that person returns to their job, the temporary employee will have to leave the job. The job description will also have a large variety of candidates all after the same job with different skills and traits.

  1. Motivation within a workplace - examples from Asda.

    self esteem, but they will also feel that they do not have a well recognised status within the job, all of these combined will highly de motivate staff. However ASDA prefer this method as it minimises any chances of unprofessional acts to take place which could potentially lead to confrontational situations.

  2. Describe the Different Forms of Ownership of Businesses

    http://www.simply-docs.co.uk/CustomPage.aspx?customPageID=78 http://blog.thecompanywarehouse.co.uk/2010/02/03/advantages-and-disadvantages-of-a-limited-company/ Business Ownership Public Limited Companies (PLC) Public Limited Company is usually a large and common Business. This could be a manufacture of retailer with branches in most city centres. Key Features of Public Limited Company: The Good 1.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work