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This portfolio is based on two contrasting businesses. The first would be a sole trader while the second would be a public limited company.

Extracts from this document...

Introduction

INTRODUCTION This portfolio is based on two contrasting businesses. The first would be a sole trader while the second would be a public limited company. I would be investigating the development of both these businesses. My means of research would be based on face-to-face interviews (i.e. primary research) and the use of the Internet, textbooks, etc (secondary research). TYPES OF OWNERSHIP The types of business ownerships are broadly divided into two sectors, which include private sector and public sectors, which include private sector and public sector. The private sector includes businesses that are owned by private owners. The public sector includes businesses that are owned by the government for example, post offices, local authorities such as police stations, ambulance, fire stations, central government office such as the Home Office and public cooperation businesses e.g. bank of England. Private sector businesses include the following; 1. Sole trader: This is when a business is owned by one person only, this person is likely to have unlimited liabilities e.g. mini cab drivers, newsagents, barber, etc. 2. Partnership: This consists of two more people who come together to form a business in which the main aim is to make profit. They are also likely to have unlimited liabilities e.g. accountants, dentists, solicitors, etc. 3. Private limited company: This ends in with "LTD". It is usually a business owned by a small group or family. The liability of this kind of business is likely to be limited e.g. local shops, small manufacturers and traders. 4. Public limited company: These are large organisations, which are quoted on the Stock Exchange, they all end with "PLC" and they have limited liabilities. Examples can be supermarkets, other large retailers. Banks and large manufacturing companies. 5. Co-operatives: Where a group of people operate a business and share the profit. They have unlimited liabilities. 6. Franchises: when a large organisation allows an entrepreneur to sell their goods in exchange for a certain fee and a share of the profits being made. ...read more.

Middle

Sainsbury supermarket offers over 34,000 products - 50% of this is Sainsbury own brand including fresh product. In addition t o a wide range of quality food and grocery product, many stores offer baked bread in the premises delicacy, meat and fish counters, pharmacies, coffee shops, restaurant, petrol station and car wash services. INDUSTRIAL SECTORS. Almost all Industries can be said to belong in a particular industrial sector. These sectors relate to the stages of production of a particular item. The three industrial sectors in the UK are: * Primary sector: The primary sector of industry generally involves the conversion of natural resources into primary products. Most products from this sector are considered commodities or raw materials for other industries. Major businesses in this sector include agriculture, agribusiness, fishing, forestry and all mining and quarrying industries. * Secondary sector: The Secondary sector of industry is the manufacturing sector of industry. This sector of industry generally takes the output of the primary sector and manufactures finished goods or products to a point where they are suitable for use by other businesses, for export, or sale to customers. This sector is often divided into light industry and heavy industry. Many of these industries consume large quantities of energy and require factories and machinery to convert the raw materials into goods and products. * Tertiary sector: The tertiary sector of industry is also known as the service industry. It involves the provision of services to other businesses or people. Services may involve the transport, distribution and sale of goods from producer to a customer or consumer as may happen in wholesale and retailing, or may involve the provision of a service, such as in tourism or entertainment. The goods may be transformed in the process of providing the service, as happens in the restaurant industry. There may not even be any goods involved. The sole trader I have chosen belongs to the category of tertiary sector. ...read more.

Conclusion

The business could respond to the local community by doing good deeds for the community like giving away free haircuts to little children. M2 In this section I would explain the differences of stakeholders between both Sainsburys and Talent Barbering Salon. The stakeholders in each business are of much importance to the business. * Customers: The ways Sainsburys look at their customers are different from how Talent looks at theirs. For example, if a customer stops coming into Talent for hair service, this would be recognised by John and would have him thinking why that customer has left. But I a customer or 2 stop coming to Sainsburys, it wouldn't really have an effect on them or they wont even notice it because they are such a large organisation that one or few customers would not have and effect on them as much as it would on the sole trader. * Employees and managers: The influence employees and managers have on Sainsburys are also different from that of Talent. I think the employees and managers for Talent influence the business more than it does in Sainsburys because, if an employee decides not to show up for work for Talent, it would affect them because they would have less service space for customers which would result to customers waiting which would also result to customers leaving because they have to wait. If an employee or manager decides not to show up for Sainsburys, it wouldn't really have an effect on them because they would have the bounce-back ability to have an extra employee to cover for the missing employee or manager. * The local community: There's not really much difference in the influence the local community has on both businesses because without the local community around, there's basically no use of both businesses starting up a business in the first place. BIBLIOGRAOPHY The sources used in this investigation are: * the ONS website ( www.statistics.gov.uk) * HEINEMANN GNVQ intermediate business textbook * www.sainsburys.co.uk * the search engine which is www.google.co.uk * HABIA website ?? ?? ?? ?? Ben fasina ...read more.

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