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Wheatfield’s Ltd

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Introduction

Wheatfield's Ltd Wheatfield's Limited is a private Limited company. This means that it is in the private sector of the economy owned by individuals (shareholders) who want to make a profit, therefore the business is not owned by the government. The main aims of the business will include making a profit, survival and possibly expanding. Limited companies are more expensive to set up but they do carry less of a financial risk. The business is owned by shareholders, these are people who have invested their money into the business. They could be ordinary shareholders and have a vote in how the company is run at the Annual General Meeting or preference share holders who have no vote in the AGM but are paid their dividend before other shareholders. In this case the shareholders must be members of the family. The business has an Articles and memorandum of Association. These are legal documents required with setting up a company and they must be registered with the Registrar of Companies. They contain details of the company's planned activities and internal organisation. It has a certificate of incorporation which is a legal document that allows the business to trade legally. ...read more.

Middle

The U.K have been importing goods from other countries, making the demand lower for these natural resources in our country. Wheatfield's is involved in arable farming and the production of powdered milk. In the U.K there are other sectors that are more popular than the primary industry. These are secondary and tertiary industries. In the secondary industry people work manufacturing, building and providing components. These are jobs such as construction and engineering. These jobs are not as popular as they used to be because of automation. Machines are replacing a lot of people; also the demand for foreign goods is often higher than that of U.K goods. People tend to go for more pleasant jobs, in the tertiary sector, working in places like cinemas, hospitals etc. these jobs tend to pay a higher salary and work in better environments. More people are working in this sector and they are receiving a higher disposable income and can afford to spend their money in shops, cinemas and restaurants. The primary industries have declined because many natural resources have become scarce. Natural resources are often imported into the U.K from overseas. ...read more.

Conclusion

They acquire accommodation and financial support for house purchase. The local community have an interest in the business because the new farm would be a source of employment. The suppliers have an interest in the farm for it to expand, so that they can make more money from their customer. Customers have an interest in the farm. They need to be able to trust the Munro family to meet deadlines for deliveries. Meeting the customer's expectations will keep them in business. Within most businesses, there is conflict between internal and external stakeholders. In this case there would be several conflicts, some of which are; The Munro family and the business employees. They will want to make as much profit for themselves as possible, but the employees will want higher salaries, if there is more money coming into the business. Also the Munro family will want to buy the cheapest stock for his business, the business suppliers will be losing money. If Wheatfield's was to go bankrupt then the suppliers would lose a customer, leading to them losing money. One final example would be the fact that The Munro family and the local community will have a conflict about the fact that the farmers may be using chemical fertilizers. They could damage the local environment. Michelle Lee Wheatfield's coursework 1 ...read more.

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