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

Greenway's Estate Agents

Extracts from this document...

Introduction

Greenway's Estate Agents- Coursework 1 Tom greenway is 52 and runs a small estate agency on the outskirts of Hornchurch near Romford in Essex. Tom has owned the business for the past 25 years as a sole trader. He lives with his wife, Sally who teaches in a local primary school. She has no involvement with the business at all. Tom is a sole trader and is therefore part of the private sector where individuals wanting to make a profit privately own all businesses. Greenways estate agency is an unincorporated business so if anything goes wrong within the business, Tom will be held responsible. Tom and the business have the same legal identity. Toms business has unlimited liability which lays a lot of pressure and responsibility on him. This means the owner of the business is liable for all of its debts i.e. if the business goes bankrupt then the owner would have to pay all of the debts. Usually sole traders and partnerships have unlimited liability. Being a sole trader means there are no shareholders in the business and he doesn't have to sign any real legal documents. Advantages of Tom being a sole trader are that he can make all decisions by himself and he receives all the profits made within the company. ...read more.

Middle

In the early 1980's he was successful with this and earned a good ideal profit, but as most businesses do he lost a lot of money, which threatened the survival, and expansion of the business. Each of the objectives affects one another. For example if competitors, which are in the survival aim, threaten the company then the company cannot possibly make a profit or expand. Greenway's is part of the tertiary industry because they are providing a service to the public and local community. The people want to buy and sell homes because they have a disposable income and the numbers of people being able to do this is increasing, providing business and profit for the company. To ensure his service is of the highest standard and to ensure his customers are totally satisfied, Tom visits every potential seller personally and shows clients around properties himself. His job involves giving potential customers a quote based on the value of their home. He will receive a commission on each sale he makes. In the U.K there are other sectors that are not as popular as the tertiary industry. These are secondary and primary industries. In the primary industry people work extracting natural resources and raw materials. These are jobs such as mining and farming. ...read more.

Conclusion

Having easy access requires it to be located on a main road, near a train station and it need to have a privately owned car park or a car park nearby for staff and customers. The estate agency would need a road that at least links to a main road so they can receive deliveries from suppliers and send out important documents potential customers. The business need to be located where people can walk past and can see properties in the shop window, somewhere like a shopping mall or a high street. The property will need to be away from competition of well-known estate agents. The company will need to advertise in local newspapers, with bright, eye-catching advertisements. All businesses have two types of stakeholders. A stakeholder is and individual or a group who affects or is affected by the business activity. Internal stakeholders are people or groups involved with the business, whereas external stakeholders are people or groups outside of the business. The internal stakeholders of Greenway's are the business employees, and the business owner. The external stakeholders are the local community, business suppliers (stationary/computer supplies), competitors (Bairstow Eves/ Glenny's) and the customers. Between the stakeholders there is a conflict of the fact that each of them all expect different things from the business. For example the customers expect a high quality service and the business owners expect profit, survival and expansion. Michelle Lee Greenways Estate Agents 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 ICT in Business 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 ICT in Business essays

  1. I have selected a nursery because there is high demand in the UK as ...

    PRIMARY RESEARCH E1 Questionnaires-For my Primary Research I got the questionnaires filled, as they are an effective method and allow the business to ask specific questions from the customers. It can then see what the response of the customer was before making any judgement.

  2. Business Aims and Objectives.

    * Setting up network services and liaising with users to develop new services that would be useful. This is likely to include maintenance of a company intranet which provides information internally to staff. Tesco's administration and IT support Tesco's mail is delivered to the sorting office in the head office.

  1. Mc Donalds stakeholders

    good manner without vandalising, treat staff with courtesy and visit regularly in order to buy their products. This means that the local community have a big influence on the business if they do not buy McDonalds food, then the company can go bankrupt.

  2. Human resources

    This is somewhat surprising as profit and profitability are the key measures of business success. However, as over two-thirds of owner-managed companies with a turnover of �10 million do not have a plan at all, it should come as no surprise that few entrepreneurs are strategists.

  1. In this coursework I need to produce a detailed business report on one medium-sized ...

    Centralised structure Organisations are centralised when the majority of decisions are taken by a few people at the top of the organisation and little decision making is delegated to those further down the organisational structure. Even if many important decisions are delegated to subordinates, some aspects of the business are always likely to remain totally under central control.

  2. An I.T. System for Estate Agents

    Lots of papers are easily lost or misplaced. A copy of everything can easily be made and put onto disk so that nothing is ever lost. Only one person can use the documents at any one time. Everyone can have all information stored onto their own computer so everyone can use the information whenever they need to.

  1. An Evaluation of Performance Related Pay and its Viability Within Public Sector Education

    There is a wide gap between the desire to implement and performance related pay system and the ability to make it work. 3.2.4.1 Ease of measurement (especially public sector) The inability to produce fair and comparable performance measures has always been a problem in introducing PRP.

  2. Will a Cyber Café in Wakefield be successful?

    The equation is: Average amount of money spent on eating out per week * no. of customers per week. �5.98 * 300 = �1794 per week This therefore is my potential sales revenue. 2.3 In conclusion the estimated income for my Cyber caf� is �1794 per week.

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