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Perkins Diesel engines and Morrisons supermarket, Company organisation

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GCSE Applied Business (double award) Unit 1 - investigating business Aims and objectives (A1) The difference between an aim and an objective is that an aim is vague e.g. "we aim to make a profit" and an objective is more specific and says how much and when by e.g. "we aim to make �5 million by next month". Perkins aims and objectives; Perkins have a vision to be a $100 billion company by 2020. Perkins aims * To maximise profit. This aim means that they want to get the highest profit possible. This is important to Perkins because they want to be THE manufacturer of diesel engines and they do not want to just be a bit better than their competition, they want to be the dominant brand. * To empower and train employees. Having trained staff will be more efficient and the quality of the product will be as well. Staff having more responsibility will give the employees more job satisfaction. * To be ethical This aim means that they want to be honest to their customers and employees about the progress of the business and they want to be honest about how the company works and not to hold any secrets if the company if it is failing. Perkins objectives; * To reach 30% profit each year Perkins measures this objective by the profit and loss statement and break-even chart the "profit and loss" statement is a chart that shows how much the company has made or how much the company has lost and the "break-even chart" shows how many engines the company needs to make to start making profit. * Every employee has their own training and development programme. Perkins measures this objective by evaluating courses, measuring employee performance and meeting with managers. * Throughout the year key stakeholders are kept informed about the company's progress. it tell the important people exactly what Perkins is doing, has done, is going to do, and how well, these important are; shareholders, employees, ...read more.


to make the products (OUTPUTS). The process of this is called "Production". In the case of Perkins: Engines. Perkins uses TQM (Total Quality Management): This is used to focus attention to deliver high quality products and services, this means that all employees must take responsibility for the quality of their work. Employees must have training and commitment from everyone involved Perkins uses Just-In-Time for stock control: this means that stock must arrive just before they are needed. This method cuts costs but this means that Perkins has to rely on their suppliers to deliver stocks quickly and regularly The Finance department handles the money needed to run the business on a day to day basis. In the case of Perkins, the department monitors department budgets and handles the financial accounts (e.g. balance sheet, profit and loss, break-even charts). The finance department manages financial documents. For example, when Perkins buys goods from its suppliers they use many different documents including; order forms, delivery note, goods received notes, invoices, credit notes, statements, remittance advice slips, and receipts. These documents are also used as proof of purchase. The order form is used by the buyer (Perkins or a company buying from Perkins) to place an order for certain goods they might need. The delivery note is sent with the goods to tell the buyer what is in the container and if the delivery note says that the wrong goods are in the container the buyer can send it back and get a credit note for money off The marketing department is mostly concerned about customer needs. They must, find out what customers want in products, sell products in the right places, create various advertisements so the customers know that the products is available. In the case of Perkins, engines. Web sites are used as part of advertising and telling others around the world how the company works. ...read more.


D2 Impact of Change Morrisons When something changes in the market that Morrisons belongs to there is always an impact on each of the businesses, you could call it a ripple effect. E.g. Change; There is a new entrant into the market Impact; Sales start to fall because customers may go to this new place and so to counter this, Morrisons will have to start dropping prices or finding new products to sell. Change; Competition starts to sell new products Impact; Morrisons would start to loose customers to this business selling the new product, to counter this Morrisons would have to try to get a hold on this new product, a similar product or a better product to try to draw their customers back _________________________________________________ Change; Interest rates rise Impact; Customers with loans do not buy as many Morrisons products because they do not have enough money, this causes profits to decline, this then causes customers to shop elsewhere because Morrisons have a less disposable income and would have to start to dropping products because they are either not being sold or they do not have enough money to keep them. _________________________________________________ Change; Taxes on fuel rise Impact; This starts to eat into their profits because it costs money for the fuel they use to transport their goods from the factories to the warehouses D2 Impact of change (Perkins) Change; Exchange rates rise. Impact; This eats into their profits because it would cost more money to change their money from one currency to the currency of the other company. Change; Volvo Penta release a new and better product Impact; Perkins would be forced to release a similar new product and if they didn't they could loose some of their current customers to Volvo Penta. Change; The Government increase landfill taxes Impact; Because this payment rises it means that Perkins would not be able to keep all of their profits as they would have to pay some of the profits to the government. Simon Stahly ...read more.

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