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The classification of the business according to its ownership, and explanation of the benefits and constraints of the type of ownership - Boots Plc.

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Introduction

AVCE Business Studies UNIT 1 Business At Work By Sumayyah Islam The classification of the business according to its ownership, and explanation of the benefits and constraints of the type of ownership Boots Plc are very large companies and are quoted on the stock exchange. The owners of the Boots companies are the shareholders. If the business wanted to, the company shares can be freely brought or sold on the stock market. This means that Boots PLC companies are able to raise large amounts of capital quickly and easily, and this gives them a large financial power. For a company to become a PLC the business must raise a minimum of �50,000 in share capital and obtain a certificate of incorporation and a certificate of trading. The benefits for Boots Plc are: > The major benefit is increased capital as many Boots PLCs may buy shares in the company. This makes expansion much easier. > Being quoted on the stock exchange and being able to offer shares for sales publicly this enables Boots Plc's to have capital for further development if they are making more profit. > Limited liability for shareholders. > Easier to raise large amounts of capital and expand. > Continuity of existence. > Benefits from economies of scale. > Shares freely transferable on the stock exchange. > Easier to borrow money from banks. A Clear description and explanation of the objectives of the objectives of the business. The main purpose of Boots plc is stated in the mission statement. Boots aim is to be the best, respected and honoured company throughout Uk. In Boots the aims are concerned with following: > Making a profit: In Boots they need to make a profit in order to make more of the product and continue their business. Profit is extremely important for Boots Company as no business can survive for very long if it is not profitable. ...read more.

Middle

The structure also helps the new staff and by doing this they quickly or easily learn. The important thing that they will learn is about the businesses aims and objectives. The reason is because the organisational structure is to help people working within the company to do there work effectively and efficiently. There are a lot of organisations that the functional areas interact just to achieve the aims and objectives of their company. This makes life a lot easier because of this it makes more of a chance for the department's aims and objectives to be fulfilled. For Boots Company to function effectively, there must be close links with the people who work in the different functional areas. Also the communication with one another is very important because they need to communicate to achieve the businesses aims and objectives. When a business may want to restructure or reorganise the structure to meet the aims and objectives by doing this aims can also change. A description of the management style and culture of the business 'Boots' business structure ('tall' hierarchical structure) A hierarchical is a serious of levels of people, each level by the level above it. The Hierarchical structure. A hierarchy structure has many employees. They are likely to have a more elaborate and tall organisational structure, which has: > More division into the functional areas such as sales and finance > More levels of hierarchy. Each horizontal level represents a step in the level of importance and responsibility of the staff > The managing director is responsible for communicating company policy and making sure it is carried out > The other directors are responsible for making decisions affecting their function areas (e.g. sales, finance, production) and communicating those decisions to the people working in the function areas. > Managers are in charge of the departments and answer to the directors; there may be different layers of managers in the hierarchy; they are responsible for carrying out or delegating the directors decisions > Supervisors ...read more.

Conclusion

Any faulty items will be rejected and it will be investigated on how it became faulty. Quality control is very important and involves monitoring of the service and feedback from the customers received by the marketing department. Quality control is applicable in every process and system within the business. This is known as quality assurance. Here are the points what quality control does: > Quality control makes sure that the faulty items are removed before products are delivered to customers. > Quality assurance wants to make sure that the faulty items are never produced in the first place > Quality control has all the features and characteristics of a product or service, which affects its ability to satisfy the needs of customers. Judgements about how successfully the business is meeting its objectives Boots Company has a strong commitment to growth. The company has a record of being successful. Because of this they listen and respond to the needs of their customers. Because of this customer service is their prime objective. Boots Company has a lot of competitors. The Companys commitment to give their customers the best possible services. They will retain the highest level of service, and will continually improve on their quality of the products, store environment, and will recruit the best people to suit the job.they are constantly striving to achieve and maintain the highest standards of service to their customers Boots Company remains to delivering good quality products at affordable prices. However they will continue to explore new product areas where they believe they can add real value. With other Boots stores they enable them to increase the number of products that they offer and improve the way in which they display their ranges. Since the year 2000 they have increased their floor space to over 328,000 square feet and have significant number of stores in excess of 20,000 square feet. Analysis of how the organisational structure, culture and management style of the business affects its performance and help it to meet its objectives. Boots company are well organised in a way that enables them to meet their objectives. ...read more.

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