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AS and A Level: Structures, Objectives & External Influences
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The stakeholders would flourish if the business's performance is positive in an ethical manner. For instance, shareholders of McDonalds would get good long lasting returns in the form of dividends if the business is ethically friendly as the business will benefit from long term business relationship with its customers and suppliers, hence allowing long term profits for the business. Implications of operating ethically 1. Adapting business behaviour We live in a world which is inter-linked and the availability of state-of-the-art communication systems have made the act of instantaneous interaction possible. The rumour of an incident spreads so fast that if McDonalds do something unethical in its London restaurant, the whole world would know about it within minutes.
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The balance sheet is split into two parts: (1) A statement of fixed assets, current assets and the liabilities ( sometimes referred as a "Net Assets") (2) A statement showing how the Net assets have been financed, for example through share capital and retained profits. Balance Sheet - Accounting for Fixed Assets.
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The Recruitment and Selection for Tesco's must ensure that their recruiting team is the properly qualified as a good team will lead to good recruits. Tesco must ensure that they use the best and fair methods suited to their environment to select the right candidates. This will ensure the best people are working for them to create the top company. Training and Development is a general definition of 'training. Training can be divided into two main categories, 'on the job' training or 'off the job training.
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Continuously improve, allowing martin to maintain there position as world leaders in intelligent lighting systems (light systems controlled via a control panel), and to help them work towards their objective of becoming world leaders in architectural lighting and smoke machines. 3. Consistently provide high quality 100% defeat free products and services. This is important to martin because if they don't provide consistently high quality products there customers will not come back to them. 4. Develop 3 or 4 new products a year, this is important to Martin, as they need to try and stay ahead of the competition.
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Discuss the likely impact on the success of UK businesses of UK membership of the eurozone (adopting the Euro currency). (40 marks)
The increase in price transparency and the reduction in exchange rate costs have encourage trading as well, as it might bring specialization and gains. There has also been a wave of cross border mergers leading to bigger firms with more economies of scale. As the UK businesses are using the common currency and the increased ease of money transfer, this gives UK businesses the competitive advantage compared to those who are outside the eurozone. The UK has been the major beneficiary of FDI in recent years, so this brought a lot of inward investment to improve on different businesses.
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Globalization creates more opportunities for UK business than threats. To what extent do you agree with this agreement?
Mothercare is one of them, they signed a joint venture with DF Brands and opened store in India and China. Through the sign with joint venture, or joining a partnership, the risk of globalization will reduce, for any impacts on stores or firms, it will be split and solve between them. By expanding themselves through either China or India, firms might benefit from the reduction in cost too. As the labour cost will be lower due to the lower wage rate, cost of production, e.g.
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Provide the best possible accommodation for students (now here you can start talking about why you chose this aim and how it is going to help you overall, so for example... 'I think that this aim will help me receive a high percentage of customer satisfaction from the students and it can help me set a good reputation if all my customers are satisfied with the accommodation.') Now here are my 3 objectives for this aim: * To provide half an hour lunch break at a cafe or restaurant/city centre etc 1:30pm to 2:00pm.
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Some applicants may not understand the questions being asked, making some unsuitable for a job role. Cost to the Organisation The process of recruitment and selection is expensive, involving many different costs, starting with labour. Personnel need to discuss the job analysis, construct a job description in order to make it clear to an applicant what is expected of them under working conditions. Also, a person specification is needed to be clear of what is required of an applicant as well as an advertisement so that the job is known to possible applicants.
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Evaluate the recruitment methods used by a McDonald's- Unit 17 Task 3 OCR National Level 3 Business Studies
They must also be told why this information has been gathered and whom it will be disclosed to. To make sure that business complies with the Data Protection act the information is handled in the following way: - Data will only be used for a valid reason. - Providing the identification of an employee is not disclosed, aggregate or statistical information may be used to respond to any legitimate internal or external requests for Data. - Personal data must not be disclosed either within or outside the business to any unauthorised recipient. Equal Opportunities Equal opportunities are supported by separate acts ensuring that everyone has equal opportunities when applying for a job.
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This is an aid to help the Airport make sure they are not exceeding pollutant levels and are continually achieving their objective. In addition to this they made a commitment in their environment plan that they would purchase a PM2.6 monitoring station for Manchester South, by 2010, however, this target was completed during 2008 as it was purchased and is now up and running. The have also tried to reduce emissions the Airport gives off by introducing a 'Smart' electric car on a 3-year lease.
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A guarantee company doesn't have a share capital, but has members who are guarantors instead of shareholders. The purpose of Oxfam GB is defined as: "To help to overcome poverty by enabling poor producers or workers to access markets on terms which enable them to obtain a fair return from the product they grow or make. "You don't need superhero to save someone's life, donate and save someone's life, be a hero..." Oxfam Operation radius Oxfam Oxfam's program has three main points of focus: * Development work, which tries to lift communities out of poverty with long-term, sustainable solutions based on their needs.
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This will also lead to competition within the airports if the monopoly breaks. (Mintel's Report - No-frills/Low Cost Airlines - UK, 2005) Travel sector benefited from increased Economic activities and its positive impact on disposable income. Increase in air travel had been at a faster rate then other transportation modes in UK since 2001. Economic Growth Rate (2005) indicates, * Increase in passengers by 8% * Number of seat kilometres by 8.8% * Revenue reached 15bn.
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When the US sub prime mortgage scandal was made public, a downturn was on its way. US banks and mortgage companies were lending money to the American "sub-prime market". These banks had sold a lot of the debt around the world to get the risk off their shoulders, and many British and European banks bought it. These 'bad debts' could not be paid and so the British banks lost money too. British banks lost money, so their share prices fell, others noticed the share price falling and sold too, thus fuelling the downward spiral. If one bank is falling in value, whatever caused this might affect other banks, so their share prices fall also - even if they were financially sound.
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External influences on business. At ASDA we have to follow the following employment legislations and data protection legislations.
Consumers are willing to take businesses into court for damages which can be quite large. This is why businesses need to be very careful indeed, and take out insurance against this danger. The price of this insurance is rising sharply, which all adds to business costs Consumer Legislation At ASDA we have to comply with many consumer legislations for each department and some of these legislations are: Data Protection Legislation This act states that the customer's information should be kept secure. It is very important in protecting individuals' personal data. Individuals or organisations have to comply with eight principles of good practice.
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Moreover Premises insurance protects objects and consumers within the premises from any damages; this again helps Muath Trust against claims etc... Moving on, the organisation I work for, will need to consider several laws as they will be liable and if laws are not abided then Muath Trust will face penalty in response. One of the laws are the consumer protection act, this protects us as employees and customers who are registered for the youth club from their information being passed on to a third party organisation as Muath Trust will be held liable for this.
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Balancing risk and profitability, while attempting to maximize an entity's wealth and the value of its stock. Security Responsibilities Aims Personal Security, Physical Security (preventing unauthorized access to building), Information Security, Corporate Governance (enforcing laws a business must abide by), Compliance and Ethics Programs, Crime Prevention and Detection, Fraud deterrence, Investigations, Risk Management (assessing risks of activities), Environment, Safety and Health * Risk - a risk is a possible event which could cause a loss * Threat - a threat is a method of triggering a risk event that is dangerous * Vulnerability - a weakness in a target that can potentially be exploited by a threat * Exploit - a vulnerability that has been triggered by a threat - a risk of 1.0 (100%)
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Deliveries to BBA of aeroplane food and other good for subcontractors of BAA will be more expensive due to the increase in charges to the delivery companies they will be forced to increases their charges to BAA. The increase in charges to subcontractors may result in their inability to pay rent to BAA. Overall Assessment of Affect: I believe overall the introduction of road charging for driving in congested areas would have marginally negative affect on BAA, as due to their airports positioning their vehicles (delivery and employee)
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Taylor believed that the main motivator for workers was money. To this end Taylor propose a piece-rate pay system. This is where workers were paid according to the amount that they produced. Taylor thought that this would mean that workers would be encouraged to work hard and increase productivity. Taylor's methods became the adopted norm for businesses. These businesses saw the benefits in the form of higher productivity and lower unit costs and wastage. One of the main proponents of this theory was Henry Ford (Slattery 2003)
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I will evaluate the distribution systems in delivering goods and services for a selected organisation. The business I will use for this task will be Tesco plc.
Tesco has become such a popular retailer that it is now the largest food retailer in the UK, holding roughly 15% share of the total market. Tesco believe there success is based on the principle of innovation, high standards and customer service with a firm policy of making sure they listen to their customers and then act upon on what they say. Sales techniques are also vital, which is the reason the business offers club cards http://www.tesco.com/clubcard/clubcard/spend/ Distribution Channels This channel can simply be the networks of organisation which work together and make necessary actions to link with one example for example link producers with customers.
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* Economic - The economy is different worldwide and fluctuates constantly, which makes this factor so complex for large multi-nationals like Tesco to tackle. To maintain maximum profitability overall, Tesco needs to raise its prices in accordance with inflation rates. If however prices are raised higher than the rate of inflation, customers may be urged to go somewhere else or spend less, and if the prices aren't raised high enough, they may not compensate with the rate of inflation and decrease the products profit margin.
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> Five-a-side football tournament for year 9. This is another event that our group was fond of. This event would also be easy to organise but can take longer to organise as a lot more paper work is required and needed. For example we would need permission from teachers to watch over the game and parents consent that there child is staying behind after school to play football. Choice of event The group I am working with has decided to organise a eleven-a-side football match for 6th form students only.
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Employees This theory can be linked to the management of Alton Towers. As Maslow's theory stated that the basic needs may be required before employees can be motivated to work, management are able to offer work to their employees to make sure that these basic needs are covered. Also, the managers at Alton Towers ensure that their employees are paid above the national minimum wage so usually; the basic costs that will help motivate their staff will be efficient. As Maslow explained in his theory, employees are not motivated by being offered higher wages or financial rewards but are more concerned with the factors that are stated on Maslow's hierarchy of needs, such as psychological needs.
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For task 3 I have been asked to identify for each organisation (Olympos Leisure Centre in Haywards Heath and Puma) their aims and objectives, explain how they are decided and also how can their aims and objectives link to the purpose of the organisations.
Also to implant their aims and objectives' plan they need to do a quantitative and qualitative analysis. Quantitative analysis is focused on numbers and figures and qualitative analysis is about sentiments and senses. They are both important to the plan of creation. 2.0 Olympos's aims and objectives To reach the success in their activity Olympos needs to meet some targets to help achieve what they are expecting. To meet these targets this business as the others need to create a business plan which include's setting up aims and objectives.
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Olympos's Stakeholders Customers External Customers in this organisation live in Haywards Heath or around that zone like Lindfield and Cuckfield. In Olympos their main customers consist of adults and also a small fraction of younger people. Customers that go to Olympos have a good lifestyle with time to spend on their activities. Also people that go to Olympos are people with a medium and high income that can afford an activity that it is not a first necessity. Olympos's customers' expectations are: * Good value of money, this means they are happy to pay a certain price if the conditions are good.
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Hilton is a profit making organisation, we know this as they operate like any other privately owned business. Their main aim is not to provide a service but to provide a service which will in turn generate a profit and good customer clientele. Through research I have found the financial details of profit generated in 2004: Full year Turnover: �2.9b (2004: �2.7b) Pre-tax profit: �187.5m (2004: �159m) Half year Turnover: �887.6m (2004: �845.9m) Pre-tax profit: �72.6m (2004: �65.6m ) Financial year end: 31 December 2005 Half-year end: 30 June 2005 Ownership- A private limited company is one where liability is limited; this means the company has a limit on how big it can grow, on how many shareholders it can maintain.
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