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Applied Business Unit 1

Extracts from this document...

Introduction

Asda Asda was formed back in 1965 when associated dairies and the Asquith brother's supermarket chain joined to form Asda Stores Ltd. Asda was an independent business which was expanding throughout Britain offering shoppers 'permanently low prices'. In 1999 it was taken over by Wal-mart a foreign American company. Since then its present ownership has been a PLC. Asda's main activity is selling food based products some of which are leading brands and others are its own local brand. The local Asda brand outsells the leading brand by a stunning 10 to 1. The other activities include a limited range of consumer electronics, home and leisure products and a wide range of cleaning products etc. Recently Asda has introduced its own clothing brand called George which is now a �2 billion a year global business. It is so successful that it can also be founded at Wal-mart stores as well. Asda has now entered into the booming market of financial services, it now does credit cards with rewarding interest rates and has entered itself to do pet, car and travel insurance. In recent years it has opened up a website that provides online shopping to customers and also provides a standard delivery service. Aims and Objectives Asda's aim since it started of in 1965 to present is still the same. 'To be Britain's best value retailer exceeding customer needs... Always' In simpler words 'to make goods and provide services more affordable for everyone but not lacking quality or superior service' To obtain this their objectives are: * 'Respect for the individual' This means they respect everyone who comes to their store and provide services for everyone individually. * 'Strive for excellence' If they want to achieve they want to do it in excellence and in perfection to the very last detail. * 'Service to our customers' When customers come to their store there should be every service available to them for their individual needs. ...read more.

Middle

Payroll The payroll operation today is normally computerised, using the necessary payroll software packages. To calculate how much is to be paid to employees the amount of hours worked of individual employees are gathered from the human resources database that shows accurate information of employee hours worked, overtime and bonus payments. This information is sent to the computer that calculates the gross payment that is needed to give to the employee which needs tax and national insurance deduction and in turn the net salary of the employee is either paid weekly or monthly and continues to transfer the money from the organisations account to the employees account. The payroll records are stored for each employee on the database for producing payroll summaries for the Inland Revenue. Once the entries have been made, the payroll employees at the financial sector confirms them carefully before sending the instructions to the bank, to make sure no errors are made. They need to make sure they send the employee an itemised statement containing current payments, deductions and giving a running total for that present tax year for the employee's record. At the end of each tax year (5 April) the financial payroll staff must create end of year payroll summaries for the Inland Revenue and issue P60s, which show accurate detail of the years earnings and tax paid, to all employees. I.C.T The role of I.C.T is recognized to be one of the crucial elements for success in the financial department largely because of computer technology. Spreadsheets are popularly used to analyse income and expenditure, special accounting software and MIS - management information systems process data rapidly to provide accurate and detailed financial information. This software automatically adjusts accounts when incoming and outgoing amounts are entered and also updates banking records as money is banked. Payroll software packages are also used to calculate wages and salaries. These are than recorded for each staff member as payroll records. ...read more.

Conclusion

They visit it because it is very near to where they live and it is ideal for those who live further away as they don't go through the rush of going to town instead on the motorway. It is also situated in a shopping centre so it means a lot of surrounding shops reduce the hassle of shopping elsewhere for different products. Swift Supplies Key Customers As Swift Supplies is located in the central area it gets a lot of new visitors mostly passers by, tourists, wholesalers and also employees from the surrounding financial offices. Asda Main Competitors Asda is in the competitive market of the supermarket industry. The following are its main competition, * Marks and Spencer's * The Co-Operative Group * Morrison's * Somerfield The market leader at present is Tesco which is expanding rapidly and offering a more wider range of services. Swift Supplies Main Competitors It is not a global or regional company but its competitors are the surrounding businesses that offer similar goods. The competitors are, * Glitter Fancy goods * Dinex Time * Zenith fancy goods * RealMark Ltd The market leader at present is Swift Supplies but Dinex Time is competiting very furiously but Swift Supplies will continue their dominance in the market. Asda Economic Conditions Prices: The products Asda stock are similar to the other supermarkets because they stock products from various companies. If the neighbouring competitor like Morrison's reduces its prices significantly for the branded products and Asda does not respond than it will lose customers to Morrisons. Interest Rates: As the interest rate rises this affects the customers as they spend less at Asda because they have to pay their liabilities. They will spend more if the interest rate is low. Wage Rates: As the wage rates rise than customers will exceed the amount spent at Asda however Asda will also have to increase staff wages. Exchange Rates: The currency Asda ?? ?? ?? ?? Halar Mirani 1 Section 1A and B ...read more.

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