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AS and A Level: Structures, Objectives & External Influences

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  1. The aims of firms( THE PRINCIPLE OF PROFIT MAX AS A GOAL)Most firms want to make a profit, however, this is not the primary aim of all firms. The aim of firms are as follows:

    Long Run profit maximization: In this case, firms work out what money they need to make in the long run ( 1 to 5 yrs) if they are to make a profit. They then divide this by the period of time to get a price they need to change if they are to make a profit over 5 years. The price may not be high enough in the short run for them to make a profit, but it will give them a profit over the long term.

    • Word count: 2976
  2. Cadbury Schweppes

    They also want to make a profit on sales and to beat other competitors such as Nestle. Cadbury's also want to continue making good quality products so they survive and maximise sales. They also need to make sure that they are environmentally friendly and make sure that quality is kept at a very high standard. Objectives 1. To continue to lead in the area of community interest 2. To introduce new products successfully to customers 3. To continue to help fund education in a number of ways 4.

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  3. This paper examines the type of corporation which meets James's best interest.

    Finally, the cases in Salomon v. Salomon Co. (1897) and Marcaura v Northern Assurance Co. Ltd help to evaluate the principle of personal succession which is the unique feature of being a company. Across the paper, James is given recommendations to the type of company which best suits his needs. a) Advantages of Incorporation Incorporating a company offers James many advantages, even if he is doing one-person business. Some of these advantages are: * Separate legal personality. A corporation is by law recognized as a separate legal person.

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  4. "Discuss the assumption that the firm's main motivation is to maximise profits?"

    Since this assumption is based on two assumptions, therefore if these two premises don't hold is it understandable to believe that firms goals is not to maximize profits. Well, this will depend on the motivation of individual firms. If a firm's ownership and control are in the hands of a single person or small groups of people, then it's reasonable to assume that the firm's owners' goal is to maximize profits. But most of today's firms are owned by shareholders and other large cooperation, but day-to-day control of the firm is under management.

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  5. Identify the independence factors, that you will need to consider in order to determine whether your firm can put itself forward to act as the first auditors of Gadget limited and the measure that may be taken to resolve any perceived conflicts.

    > -Investigative independence - this requires that no legitimate source of information to be closed to the auditor. This involves that the auditor has the freedom to examine information that the auditor thinks relevant. > Reporting independence - this means that the context of the report are related to the scope of the examination. Profession independence like the individual practitioner, the profession as a whole must avoid any appearance of lacking independence. Objectivity The Case Study By looking at the given scenario the following independence issues have arisen. 'Michelle Bond is the sister of Basil Bond, one of your co- partners in Earnest Peat & Co' Michelle Bond is a substantial shareholder in Gadget Limited, however she is not a director.

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  6. Company law - Advise critically Alice Lau and Benson Cheung, with strategic proposal, how to structure the company and to accommodate the wishes of Alice's parents, Mark and themselves

    Therefore, it is not necessary to mention the sole proprietorship and partnership in this case as they are not applicable to issue shares. Limited Companies A limited company is a separate legal entity and should be registered under the Companies Ordinance. The liabilities of shareholders are limited to the registered share capital. According to the Companies Ordinance, a limited company is required to prepare audited accounts. There is no statutory minimum capital requirement in Hong Kong. In practice, the authorized capital would be HK$10,000 and the issued share capital could be as low as HK$2.

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  7. Describe opportunities that is present in nonprofits, outline advantages and disadvantages of working in the nonprofit sector, and explain how you can determine if this is an area for you to consider as a career.

    Nonprofits usually work to advance a cause or interest or to accomplish some good work. Some job seekers overlook nonprofit organizations, assuming that opportunities are limited and salaries are uniformly low. This is not true. Respectable salaries, a wide range of opportunities and satisfying work abound in the nonprofit sector. Nonprofit organizations play significant roles at the local, state, regional and national levels. They represent well-defined interests, conduct research, provide direct services and lobby for legislation. Nonprofits especially appeal to individuals who are passionately committed to a cause, enjoy pursing public issues and love their work.

    • Word count: 2441
  8. Value the Galen Holdings PLC

    Unfortunately, as Crockett (2002) said 'It's not obviously clear'. Theoretically, the fundamental value of a share is estimable. Generally agreed there are three main methods can be used to valuing a share (Pike & Neale 2003), that are dividend-discount model (DDM), price/earning ratio (PE ratio), and the net assets value model (NAV). In the following parts, each of these three methods will be used to test the value of Galen PLC, comparing with the competitors, and the methods employed will be estimated. The dividend discount model approach: First of all, the dividend-discount model will be employed to value the company.

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  9. Evaluate the effectiveness of the business activities in both Sainsbury's and GE Lighting.

    The business activities that Sainsbury's provide will help them fulfil their desired aims and objectives because they are offering their consumers with a wide range of services and products. Sainsbury's core service may be to offer groceries but the key element to remember is that Sainsbury's are always looking to improve and diversify their existing product portfolio. The way in which they ensure that their business activities help them accomplish their aims is through a number of performance associated techniques.

    • Word count: 2790
  10. The central themes that emerge out of David Ricardo's On the Principles of Political Economy, and Taxation.

    This notion is not supported by evidence, but is rather stated in a definitive manner, leading the reader to trust its validity without actually being given substantial evidence to support it. Its roots lie in Ricardo's 'labour theory of value' which maintains that the value of commodities is determined by the quantity of labour used in their production, and that any increases in the amount of labour would result in increases in the value of these commodities (Ricardo 1817-1821, 24).

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  11. Structure of the Leisure & Recreation Industry.

    Private sector operators can locate wherever they want. In areas where there is a small market there will be a lack of operators, while in areas where there are large markets there is a good deal of competition and firms will compete to win customers. There are two types of private sector organisations; non-limited businesses and limited companies, they generate in different ways and have slightly different products to offer. Non-limited Businesses Sole Traders: These are people who set up and run a business which they own themselves.

    • Word count: 2088
  12. A Systems Model of a Process.

    Given below is perhaps the most basic view of processes -- the well-known input-process-output model. Albert Einstein once advised that "things should be made as simple as possible - but not too simple." This model is too simple. It masks important details by treating a process as a "black box." The Basic I-P-O Model This is only a little more complex than the figure above but gives us much more useful information. A Systems Model of a Process In the diagram above that "process" is really a label for the interactions between the Processor and the Inputs to be processed.

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  13. GCSE Business Studies Coursework - Balance sheet, Profit/Loss Account.

    Fixed Assets are assets to a business that is central to its operation and not traded. Current Assets are available cash and other assets that can be converted into cash within a year. Current Liabilities are business liabilities that are due to be cleared before the end of the financial year. Long Term Liabilities are business liabilities that can be cleared at any time. Usually longer than one year. Capital is material wealth in the form of money or property. Drawings are money taken out by the owner for his own personal use. Task five: A Profit & Loss Account (also known as a P&L) is one of the most commonly produced forms of financial statement.

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  14. Stakeholders and there role within a business.

    The shareholders are mainly interested that Tate & Lyle make profit in order to earn more money. The success of the business decides if the share price is high or low which makes shareholders know from their shares if they are making a profit or not. The shareholders decide who stays or goes basically. They elect directors and if the company is performing badly they can sell their shares and this makes it easier for someone else to take over because the share price has dropped. b) Customers Customers want to be sure that the products that are being sold to them are of good quality and do not become useless after a certain period of time.

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  15. D&D 1 Maths Coursework - Apple Pie Investigation.

    The fruity pies tend to create larger pies than the sweet pies, therefore at most only three fruity pies will be able to fit into the car as stated previously. Ingredients: Sweet Pie: 200g Apples 100g Honey 40g Pastry Fruity Pie: 300g Apples 20g Honey 30g Pastry It is hoped that the sweet pie will make a profit of �1 and that the fruity pie will make a profit of �2. This difference in price will be acceptable to the public as the fruity pie is larger than the sweet pie.

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  16. Financial Information Analyse Report.

    Morrisons has a 5.9% share in the UK's grocery market and is Britain's fastest growing supermarket chain. The statement of Profit & Loss Account and balance sheet below for the 52 weeks ended 2 February 2003 show a substantial increase in both turnover and profits - the 36th successive rise since the company went public in 1967. Consolidated Profit & Loss Account For the period ended 2nd February 2003 52 weeks ended 2 February 2003 52 weeks ended 3 February 2002 � Millions � Millions Change Turnover 4,288.5 3,918.3 + 9.4 ------- ------- Operating profit 262.5 229.8 +14.2 Profit on property disposals 1.2 0.4 Net interest receivable 12.9 12.8 ------- ------- Profit before taxation 276.6 243.0 +13.8 Taxation (94.4)

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  17. Mission statements - I am focusing on two types of companies; they are Sainsbury's and Mirfield Free Grammar.

    Another aim for Sainsbury is that they should maximize sales because then they would get more profit. The objective would be to sell more products. The most important aim of all is to provide quality food for the customers because if they don't, they'll wouldn't get much profit because the customers would go somewhere else. Another very important aim would be building more stores somewhere else because if they only have one store, some customers from further places might want to shop there but if its too far they might not come and might even go somewhere else.

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  18. Choose a business and idenyify the stakeholders. Investigate their rights and responsibilities.

    Without shareholders it'd be hard for a company to function because cash flow would be poorer. Within the company, a shareholder does little, with only major decisions being voted on by shareholders. The board carries out the daily running. Even if the company makes losses and can't pay a dividend, shareholders are allowed a copy of the annual report, including financial documentation. Naturally, companies want to offer high dividends to maintain good relationships with shareholders. Employees are important assets to a company; employees require good relationships and wages. Different employees have responsibilities, which is why they have varying salaries.

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  19. The aim of this study is to find out the purpose of this local manufacturing company, which has been in existence for over fifty (50) years and how the economy and the community benefited from this company.

    I collected a number of supporting information used as appendices from the Secretary of Quality Assurance and Research & Development department. INTRODUCTION The Coconut Growers' Association (C.G.A.) was formed in 1936. It was formed out of the foresight of a group of coconut estate owners/planters called the "Coconut and Copra Planters Association", in order to provide a united front in selling their basic raw product copra to overseas markets. Realizing the difficulties of exporting a basic raw material to overseas market, a decision was taken to begin making a finished product locally.

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  20. Sony P.L.C.

    If they can't pay their debts not only will they lose the business but they could lose their personal possessions such as homes and cars. This is called unlimited liability. Some examples of sole traders are mobile hairdressers, a gardener, a plumber or an electrician. Sony P.L.C. might have to deal with sole trader and partnership organisations. Smaller businesses that might supply a small part of a product to Sony P.L.C. are likely to be sole traders and partnerships. They are likely to be operated in countries like China and Taiwan.

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  21. Management in Context - Share Portfolio.

    London's FTSE 100 also closed down 185.4 points, or 4.7%. The losses, made September one of the worst months in recent stock market history. With US shares plunging and dragging major European markets down with them President George W Bush reached a deal with the leaders of the House of Representatives which paved the way for the use of force against Iraq. The FTSE 100 fell further after Tony Blair's backing of President Bush and the idea of imminent war.

    • Word count: 2869
  22. The words "social responsibility" may be famous among some companies but may be unimportant to others.

    Milton Friedman also explains that if higher prices are set, total sales will plummet and businesses will lose as well, as the company will lose its competitiveness in the market (Robbins, et al., 2003: pp. 136). Therefore, organizations proposed that if being socially responsible adds to the cost of the business, the cost should be passed to either the consumers in terms of higher prices or bind by the government. The shareholders will also need to be compensated by the low returns.

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  23. Corporate Governance - Shareholder's duty of care.

    Hence, good -minority- shareholder protection is necessary in every corporation, but is essential in corporations with a controlling shareholder. This paper is written during, and is part of, the course 'Corporate Governance' thought in the first part of 2003 at the University of Amsterdam. The paper will discuss the duty of care that large shareholders hold to their (publicly held) corporation and its other shareholders, under United States law. Can this be a lesson for the Netherlands? Corporate Governance At a general level corporate governance can be described as a problem involving an agent -the CEO of the corporation, and

    • Word count: 2174
  24. Explain why managerial theories of the firm have developed, and how the predictions from these models differ from those of the profit maximising approach?

    And although there is little doubt that profits play a central or near central role in influencing firm behaviour, since the 1930's, some people have become aware that profit maximisation may not be the sole objective of many modern firms. The development of managerial theories of the firm began with pioneering work by Berle & Means (1932) on the separation of ownership and control resulting from the large-scale growth of many U.S firms. The period between the wars saw the emergence of the multinational, and a change in the manner that organisations were run.

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  25. How can Sainsbury's increase its market share?

    Quality food is a priority for our customers and a key component of the Sainsbury's brand. Sainsbury's have invested in their food ranges and, during the year, have improved or developed over 3,200 products. Which of their own-label sub brands are again amongst the best in the UK. Sainsbury's rigorously monitor 10,000 lines weekly to ensure that they remain competitive. They have reinvested in some of their cost savings in price adjustments. Alongside this we continue to run a highly attractive, sustainable promotional programme.

    • Word count: 2269

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