• 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...


Introduction In this report I'm going to be describing the reasons why costs and budgets need to be controlled. Then also analyse the reasons why costs and budgets need to be controlled and explain in detail problems that can arise if they're left unmonitored and also evaluate how managing resources and controlling budgets can improve the performance of a business. For any company the money that comes in must be more than what goes out, It's very important for costs to be controlled against budgets so that you don't overspend and make a loss. The costs that have to be managed are fixed costs & variable costs. A fixed cost is something that cannot be changed for example renting, salaries, loan payments etc, these cannot be changed so what ever a business is doing they've got to make sure the money they make meets up with the fixed costs other wise they would be making losses that would end up giving them a bad reputation and even worse end up having to close down. ...read more.


Now the story for phone networks when it comes to that very same phone is very different as they have to package out the right deal to make the money they paid out back and not to forget they have fixed costs such as salaries, rent and then also have the variable costs as in your wages and bills, the actual costs is basically the money paid to nokia for the mobile phones so it's a costs that doesn't have any interest towards it as it's a one off payment. The way they make the money is done by controlling the actual costs against their budget, this is done by making sure that the money they spent on actual costs is made back, a good way to make sure that actual costs are kept to a reasonable standard is to keep receipts on items spent on the store and also make sure that the money made by the company is going to meet the budget through the phone deals they give out. Most phone contracts the phone networks give out are 24 months long now the way they make the money depends on how many ...read more.


the company will have money given to them by the budget holders who basically bid for funding sufficient to meet the needs of the company and also makes sure the money thats getting provided is being used appropriately. Budget holders are provided with monthly reports of all expenditure so they are constantly monitoring the company., things such as orders actual costs are always looked at and as long as the company stays within the limit the budget holders will be able to bid for more money for resources e.g computers, software, demo facilities etc. When Preparing a budget from the start you need to have short term reachable goals so money aint spent unnecessarilly, as long as the company is meeting the targets set & stays within the limit the cash flow will be in good health. In any company especially companies that are large the best thing to do is to keep reserve cash as it could be needed for emergencies such as a fire, systems crash and needing replacement or maybe an economic meltdown occurs, if there's no reserves kept it could end up in job losses. ?? ?? ?? ?? Unit 2 ...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


    If they cannot or it means that profits would be too low, then they could offer more for the price so that the customers have a choice of either having to pay a bit more but getting a bit some extras or paying less and getting less.

  2. Business Studies Company Profile

    * There are 242 suppliers for BMW located around the world, and the sorts of parts they supply are: From Mexico they are supplied engine mounting brackets. From Japan they are supplied air conditioning compressors. From Portugal they are supplied management trim and water.

  1. Marketing Research

    5) Layout of questionnaire: a) Quality of paper and reproduction: It is very important that the questionnaire is perceived as friendly. The quality of paper used, the type of printing and reproduction substantiate the authenticity , seriousness and clear mindedness of the researcher.. A cluttered questionnaire with bad reproduction would leave a bad impression and result in a poor or incomplete response.

  2. I am going to be writing about the concepts of marketing distinctiveness of the ...

    Also because McDonalds is such a big company it uses franchises to get restaurants all round the place and in some corners or near petrol stations in high streets where there isn't any other place to eat so they give a sign to McDonalds from the petrol station.

  1. Unit 2 Investigating business

    Management team and personnel In my management team there is me and my two silent partners James and Jasmine. I will need to hire staff to help me to keep the business going, I will need a van driver, 2 chefs and a secretary.

  2. Unit:3 Investigating Marketing

    So I will be realistic on my decision oh how to compete my competitors. Primary Research - Primary research is research used to collect data for a specific task. In primary research I will explain my target market of my business and questionnaires which means to gathering more information about the customers wants and needs.

  1. Applied Business Unit 2 Coursework

    the internet because Warwick University can advertise free on its own website and people can view most jobs nationally. Newspapers can also be a very cheap method of advertising. I will probably only advertise in the telegraph and the Birmingham mail.

  2. This is a report on the international dimension of Costa Coffee and Coffee Aroma.

    to determine. Sometimes, though, one can use primary research to estimate the total market size and a company's market share. Market share often is associated with profitability and thus many firms seek to increase their sales relative to competitors. Here are some specific reasons that a firm may seek to increase its market share: 1.

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