• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

To what extent does profit motivate the owners of small shops?

Extracts from this document...

Introduction

To what extent does profit motivate the owners of small shops? Why people set up their own business? The answer to this question will have a priority word, which is profit. A person who carries out a business, wants the highest profit possible as their main objective, in addition to having freedom to make decisions. Having profits, makes them survive and feel secure, as well as completing other objectives such as personal satisfaction, income, funds for retirement, personal wealth or children's inheritance. However, there is another factor which makes owners feel even more motivated, which is the shop having a good reputation. All these factors are linked, as if there is a good reputation, then is likely to be higher sales, and as a result big profits, which will help the owner complete their objectives. These risk takers, will feel well motivated if there are high profits and a good reputation, always depending in the type of business and its situation. ...read more.

Middle

This makes Mr. Hidalgo feel more motivated, he feels that his carry out his job very well, and giving people very well their demands. His next objective is growth as a way to feel more motivated, and this can be done thanks to its high profits and good reputation. Base was opened 4 years ago, and I usually buy my sport clothes from here. It can be said that the reason for having profits and being able to survive is because they meet very well customer's demands, they are always updated to the latest sport things. Profit figures satisfy Mr. Martin, but what makes him feel fully motivated is knowing that the shop's reputation is good. He likes to see that customers are happy with what they have purchased, and they will come back again. This means that Mr. Martin cares a lot about profit, but what makes him fully motivated is to see a smile in the customers face, which increases the shop's prestige. ...read more.

Conclusion

If this task is well carried out, then prestige will increase alone, although isn't a big motivation factor for him because what he really wants is the highest profit possible. After doing my primary research on the 4 small shops, and doing secondary researches on book, I come to the conclusion of that profit is the key motivation for owners of small shops. The rest of the factor, are a subsidiary, without profit the rest of the factors cannot be achieved, such as reputation, growth., personal satisfaction... However, once a shop is well stabled, reputation becomes a major factor for motivation, as important as profit. High profits and prestige, motivates the owner of small shops, because they feel they are carrying out well their job. In conclusion, Profit and reputation are the major motivation factors for small shop owners, without them, they cannot achieve other objectives such as growth, survival, personal satisfaction, income, personal wealth... 1 See Appendix 1 ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level Structures, Objectives & External Influences section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level Structures, Objectives & External Influences essays

  1. Job roles, recruitment, motivation and legislation.

    a brief description of what the job involves > a list of duties and responsibilities > hours of work > Working conditions and pay. A job description is important to the business because it clearly defines what the job is about and what can be expected from the job.

  2. To what extent is profit a good indicator of the success of an organisation?

    The more profit a company gains, the more capital can be reinvested, then by consequences, the larger scale and more output they can receive, and the more share capital are attracted into the business. Those aspects have all helped to develop a successful organisation.

  1. Free essay

    Market Research

    records over the past 12 months AGREED/ACHIEVEABLE: Yes with hardly any competition this objective is achievable REALISTIC: Yes TIME: 1 year 4. SPECFIC: To expand into a different range of products within 7 years MEASURABLE: look at financial records AGREED/ACHIEVEABLE: Yes REALISTIC: maybe, but with an objective like this one,

  2. To what extent are trade unions a force for good in secondary education?

    This union offers Health & Safety courses and seminars that educate those who take it in the many different aspects of protection from first aid to sun-exposure. This not only in turn creates an environment that is safer for students to work in but also increases confidence and well being

  1. Analysis and own opinion on:Chapter 3 "The Externalizing Machine" of "The Corporation, the pathological ...

    As the title of the chapter says the most important issue in it is externalities, the effect that corporations have on third parties. The author explains the concept of externalities and gives some examples; this chapter also focuses on the process of how corporations make decisions regarding the products' safety,

  2. Coursework: Making a Profit

    Costs (�) Sales from cars - �100 000 Advertising - �1000 Buying the cars - �20 000 Bank Loan - �15 000 Labour - �10 000 Other Expenses - �10 000 Revenue - �100 000 Costs - �56 000 Profit - �44 000 Task 2 Fixed And Variable Costs Fixed

  1. Investigating Business. Tesco PLC. I will be describing the aims and objectives of ...

    Ability to innovate is an important factor in Tesco?s achieving success because for Tesco?s to have the ability to innovate new products or services, they are able to be successful in coming up with new ideas of products/ services that may be essential/ non-essential to customers.

  2. Applied Business. Investigating a business Preston Manor High School

    you must be earning an average of at least £102 a week (before tax)[3] These maternity/paternity leave affects the performance of the school results because the staff who are on the leave they may have a very important role in the school and they may be hard to replace.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work