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

Unit one: business at work

Extracts from this document...


Unit one: business at work 1. Terms of reference I have been employed by Hangloose, a small business in Middlesbrough, as a management consultant to assess and evaluate their company's performance in their period of growth and to produce a report to identify problem areas. My analysis will be produced in report form and will highlight the problems ready for feedback to the company. 2. Procedure The information I am going to focus on in the report will be obtained from the business scenario I have been presented with. However I will introduce other knowledge from the use of text books, internet, and notes made in class. 3. Analysis 3.1 Ownership & Classification Hangloose t-shirts started off as a small partnership with two owners directly responsible for all the decisions made within the business. A partnership consists of between 2 and 20 owners, which could have been advantageous to this business if one partner desired to have less responsibility than the other. ...read more.


A business becomes limited when it has been incorporated and in the eyes of the law gains a separate legal identity from its owners. Documents have to be signed such as the articles and memorandum of association that determine the agreements shareholders have to abide by whilst they remain owners for their part of the business. When a company becomes limited, one advantage to the owners is that they gain limited liability; meaning if the business fails to break even they will only lose the amount of capital that they originally invested in the business. Another advantage to becoming a limited company could be that now Hangloose can sell its shares to upto 20 of the original owners' family and friends. They may want to do this to raise extra capital for the business to buy new premises or machinery to expand the business into a new customer base, or to employ more staff to fill vacancy situations that have arisen through the expansion of the company. ...read more.


Hangloose is meeting its objectives well. It is consulting the customer as much as possible and can still tailor make products for customers due to its small friendly way of being run. This causes a strong customer relation base that the business can rely on because customers will return time after time. We can see from their long-term aim however that at the moment they do not have a very wide target audience, this could be very restricting for the business because it could prevent them reaching their potential quite so quickly. Hangloose realise that in order to achieve growth in the future they will need to re-invest a large proportion of profits. This is a large risk to take in business because if it fails - the owners lose profit that they have already constructed. Nevertheless if the re-investment goes to plan it will allow Hangloose to supply a more varied range of stock appealing to a wider audience, resulting in an increase in profits for the owners. ...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 ICT in Business 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 ICT in Business essays

  1. For my business report I am investigating the Co-op erative society supermarket.

    With employees doing what he/she has told to do? Researcher's definitions of organizational culture This is defined as" The collective programming of the mind that distinguishes members of one his me This is the institutionalized power of dominant interest groups of an organisation By (Wilson and Rosenfeld, managing organisation)

  2. Apple Incorporation - Case Analysis

    Businesses are not expanding and employment reductions in force have provided less disposable income reducing sales. Failure to improve could continue to affect the company and its suppliers negatively. The entire tech market has been weakened by the economic and political uncertainty as well as other constraints.

  1. In this assignment I am going to produce a detailed business report on a ...

    Tesco aim is to ensure that their company is a satisfying place to work by giving their staff the opportunity to be themselves, actively encouraging their health and well- being and supporting their work/life balance needs. The staffs are entitled to various kinds of leaves such as; maternity leave, career breaks, parental leave etc.

  2. Business Aims and Objectives.

    It also gives a brief description of all the different Tesco stores. If the customer is interested in the Tesco job, they could get an application form from the customer services and also they will need to attach their CV.

  1. Business report on Marks and Spencer.

    ICT can be used in Marks and Spencer Business by teams of people from different functions, working together to achieve the aim of the process. In a transformed business, people involved in particular processes are given more freedom to make decisions and have more information at their finger-tips by virtue of information and communication technology.

  2. The business I am going to set up is a snooker club,

    In June, July and August the sales are predicted to fall because consumers will go to holidays abroad in this period, therefore snooker and pool sales will rise, also students have summer holidays, this means they will go to holidays with there families and friends.

  1. The Classification of Sainsburys

    14.32p A Sainsburys aim was to provide shareholders with good financial returns by focusing on customer needs adding value through their expertise and innovation, and investing for future growth. Using the table above taken from the Sainsbury's annual report of year 2000 I have concluded that Sainsbury's is not meeting the above objective.

  2. Buisness at work

    Asda aims to increase food sales while developing its non-food business, offering the convenience of one stop shopping to its customers. Asda's main objective is to make profit and have continuous sales growth. They do this by beating the competition around them.

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