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

Investigating Business resources

Extracts from this document...


Now continuing on from P4 im going to be lookin in at the different aspects as i did then with more detail to see why budgets need to be controlled. Its important for budgets to be controlled against the actual costs so the company doesn't make any losses. Before a company starts up they have a budget and set targets now in any companies things are bound to go wrong so the best thing to do is to always keep an eye out to make sure things are always in check and this is done by always checking the actual costs this is to make sure that if the business is going over the budget it can be resolved very quickly. The department manager is the main person who checks the budget as they are the one that have the budget given directly to them, now this will vary in different business but most department managers will check the budget as many times as ...read more.


take a few risks such as increasing a few prices especially if they have very low costs to pay which would result in high profits however companies that have high costs and are not quite sure that they can generate enough income to keep in touch with the costs they have fixed/variable would use the break-even point chart to analyse what they should be spending and making it a high priority to keep within the budget. For a company that is struggling to meet the budget a number of options must be taken so that they meet it, a mobile phone company for example rely on sales to meet the budget! The thing about a sales company is sometimes it varys on what kind of season it is for successful sales, one month could be good and another month could be bad. For the bad months things have to change so a sudden twist of prices would be seen as they would shoot high to ...read more.


them to do is to keep the profits always keeping in mind for when the market might fall or when sales generally don't go too well. A lot of problems may arise if budgets are not controlled and monitored such as loss of staff, this can be done to balance things out, another thing that can be done is the staff could stop valuing valuable items and an increase off waste would occur which would result in heavy losses for the company, Prices would have to be increased so the damaged goods are essentially covered for in the sales but this could also result in a loss of customers due to prices they are not too happy with. In other cases if the budget is not monitored it could result in the company ultimately closing down as they cant keep up with the costs (fixed/variable) or they can end up getting bought out by a different company. ?? ?? ?? ?? Investigating Business resources M2 ...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 Marketing & Research 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 Marketing & Research essays


    20 days of holidays per annum then they need to ensure that they get that holiday. Within the contract the employer signs that they will ensure that the worker stays safe and healthy during the time they are in the workplace.

  2. Business Studies Company Profile

    Laissez-faire Management Style. This is where the managers try to interfere as little as possible in the jobs of the workers, except where necessary. It believes strongly that there should be no interference between the workers job and the manager's job. It's self regulated by the workers.

  1. Mcdonalds. For this unit I will need to produce a portfolio of work investigating ...

    Communication can only be effectively done if the right communication methods are used. Technology is also needed in order to have good communication. McDonalds has to have the right ordering system, staff that can appropriately use the computer system, and facilities for people that have certain disabilities, these all come under having the right technological communication methods.

  2. Applied Business Studies

    I have set down a few aims that I want to reach in my business, these are: - Offer the highest quality service to all customers - the reason why I have chosen this as one of my main aims is because without good products, customers will not want to be shopping at your business.

  1. Unit 2 Investigating business

    My operations I have chosen a location to base the main office and also an area in there where all of the chilled and frozen food will be permanently kept. The location I have chosen is just the back of a shop as we are working with some other people

  2. Unit:3 Investigating Marketing

    In planning my business I working on my primary/secondary research on my business and competition on how to compete my main competitors in my business - this is important part of running a business because this is one of the major problems why the one business is being down.

  1. Business Enterprise unit 5

    Bank loan: The business can borrow money from the bank at an interest rate. However banks are reluctant to lend money to sole traders as sole trader business has unlimited liability. Bank overdraft: The business can agree an overdraft limited with the bank, so they can spend a bit more then they have in the bank.

  2. Research into Business Plans

    different from other businesses, making it attractive to new people to take interest in your business. This separates you from the other businesses which use regular tactics to gain customers and stakeholders. ensuring the monitoring and reviewing of progress is made more straightforward; Making sure that the things above and

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