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GCSE: Business, Companies and Organisation, Activity
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Five different forms of ownership that you should know
- 1 Sole traders or sole proprietors are the simplest form of business ownership requiring no legal documentation. Anyone can just set themselves up in business. It is by far the commonest form of business organisation. One of the main problems is that it can be hard to get finance to expand. This is in part because it has unlimited liability. That is full responsibility for all debts
- 2 Partnerships are where from 2 to 20 people join together to form a business. This gives each person access to more finance and expertise. They also have unlimited liability which can make it difficult to get the finance to expand.
- 3 Private Limited Companies (ltd after their name) are legally set up and enable the business to raise more finance by selling shares (part ownership) of the business. They have limited liability which means that investors can only lose the amount they have invested in the business. People must be invited to become shareholders and can only sell their shares with the permission of the other shareholders.
- 4 Public Limited Companies (PLC after their name) can sell shares to anyone and there are no restrictions on who can and cannot own the shares. They also have limited liability. These tend to be the largest businesses.
- 5 Cooperatives are owned usually by the employees. The employees pool their money and usually share responsibility for the decisions of the business.
What are the names of different sectors of industry?
- 1 The primary sector is concerned with the mining, growing and extraction of raw materials that are used to produce other things. Examples include farming, mining, forestry and fishing. Before the industrial revolution (about 1760 to 1830) this was the biggest sector in the UK. Now it is the smallest, employing less than 2% of the workforce.
- 2 The secondary sector is the part of the economy concerned with manufacturing. It therefore involves turning primary products into other products that consumers and businesses will use. As a percentage of employment, this has fallen in the UK in recent years as more manufacturing is done abroad. The UK still manufactures many goods.
- 3 The tertiary sector is also called the service sector. It supports the production and distribution of products so includes industries like banking, retail, advertising and distribution. It is the largest sector of the UK economy.
- 4 Some commentators talk of the quaternary sector which is concerned with intellectual activities and the knowledge based part of the economy such as scientific research, government, libraries and information technology.
- 5 Goods move through the different sectors through what is known as the ‘chain of production’. So for instance oil comes from the primary sector where it is extracted from an oil well, to the secondary sector where it is refined into petrol or other products and then to the tertiary sector where it is sold to the consumers in a service station.
Five business aims
- 1 Most privately owned business aims to make a profit. This may only be in the long run. In the short run, a business may aim to increase market share or develop new products which will reduce profits in the short run.
- 2 Many businesses are in the public sector. This means that they are owned by the government or local government. Their main aim will usually be to provide a service to the public. They may charge for it to cover some of the costs but making a profit is unlikely to be an aim.
- 3 Businesses in the voluntary sector are usually charities that raise money to provide help to particular groups.
- 4 Businesses will normally have objectives which are much shorter term and are measures that will help them achieve their overall aim. It may relate to a level of sales (private sector), a level of service (public sector) or a particular group that will be helped (voluntary sector).
- 5 The terms private and public can get confusing. Private sector means owned by private individuals although it may be a public limited company. This means that shares in the company can be bought by any member of the public. However, it is still in the private sector.
- Marked by Teachers essays 12
- Peer Reviewed essays 4
NVQ level 2 unit 2 Business Administration. Worksheet on Principles of providing administrative services5 star(s)
If not the correct person ask for them. Clearly explain the reason for calling and ask them to confirm their details as per Data Protection Act. Get the job booked in and confirm date and job number back to customer. Thank the customer for their time and ask if there is anything else you can help them with. 1. When receiving calls- Always endeavour to answer within a specified time limit and greet the caller with the personalised greeting that includes your name and ends with â how can I help you today?â Actively listen to their request and ask questions where needed.
- Word count: 3138
In this piece of coursework I will talk about the activities that Jaguar Cars currently has in place so that they achieve their aims and objectives.5 star(s)
If the employees do their job properly then it will insure that the production line will be continuous and this will again lead to customer satisfaction as the customers will be getting their cars on time. By doing this it would help them meet their aims of continuous production during running times and also the aim of improving quality and customer satisfaction. The second way in which jaguar helps meet the production targets is by having computer aided technology; CAD (computer aided design)
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* Preparing the pay roll and paying the staff salaries * Issuing regular budget reports to all the departments. Customer service Customer service is also a main functional area in Sainsbury's. This part of Sainsbury's handles complaints positively and professionally. They also: * Solve customer problems. * Use customer feedback to improve customer service. * Answer customer enquires about products and services * Analyse customer complaints to eliminate problem areas. OXFAM Administration One of the main functional areas in a business is administration. Admin is a support system that is requires by all business they monitor the budget but they can also interview new staff.
- Word count: 2009
I think that the customer's comments have the biggest effect on Tesco because they tell Tesco from the customer's point of view exactly how to improve there stores and make shopping easy and quicker. I think that the customers are a very powerful stakeholder because they have the power to create changes in Tesco. The customers will not physically themselves create these changes but they will do it by filling in the response forms that Tesco provide. Comments like "The isles are to crowded" or "There is not enough staff on the floor" have a big impact on Tesco because if Tesco do not respond to these comments Tesco may loose customers meaning less profits for shareholders.
- Word count: 1420
Tom Spencer died on 25 July 1905 and after 2 years Michael Marks died on 31 December 1907. It was then time for the owners today at that time to advance the success of the two founders. In 1926, Marks and Spencer became a public company and 2 years later the St Michael Trade Mark was registered. Through out the years Marks and Spencer has been expanding till today. Food departments have been opened such as café bars during these several years and many other methods have been used through out the years.
- Word count: 604
Do you think it is a good idea for companies to use corporate social investment to promote their corporate image?3 star(s)
Corporate citizenship is a term used to describe a company's role in, or responsibilities towards society. For this reason it is sometimes used interchangeably with corporate social responsibility, and in fact many companies including Microsoft, IBM and Novartis have used it in this way to describe their social initiatives. However, many also take it to mean that corporations should be regarded as citizens within a territory - i.e. that corporations have citizenship of some sort. This is usually based on the principle of corporate personhood, in that in certain legal jurisdictions, such as the United States, companies are afforded some of the same legal rights as individuals.
- Word count: 1507
Contribution to innovation and change. Explain three points of innovation in a business environment.3 star(s)
> People with diverse talents, personalities, and backgrounds who are able to exchange their ideas freely set the tone for change. > Recognition that there's not just one correct way of doing things and being appreciated makes you want to be more creative and willing to offer your ideas. > Good leadership knows how to uncover employees' diversity of talents and gives them an outlet and opportunities to demonstrate this. Helping them to use their strengths will lead to a more innovative environment.
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Human Resources: This department of a business look after the employees, which means they can fire any employer from their business and can hire an employer to the business, and can cut down the workers wages to keep more profit going into the business and they keep trainings for their employees to train them about the new technologies which is useful in business. Customer Service: This department of a business is helping the customers, providing them information about the products and listening to their complains and trying to finish their problems.
- Word count: 968
Ownership, Aims and Objectives. In this assignment I have been asked to research a variety of companies and put them into three main areas of ownership. These are: the private sector, the public sector and the charity and voluntary organisation sector.3 star(s)
It may develop the parts of the museum that are struggling, or buy maintenance. Employees are all volunteers and probably do not get paid. The type of people that would be suited for this job would have to be local (to know the history) and must be generous and selfless. The employer will probably receive a cut of the profits, and any third parties that are hired to work there. The museum obtains money by donations only as it is a charity and does not require profit.
- Word count: 1541
Stock market is where the Longleat's stakeholders can buy shares and invest in business because they get a slice of ownership in the company, their company can be completely taken over. As a large business Longleat has to face a number of economical factors such as taxation, interest rates, labour. Stock markets is not one of the important factors faced by Longleat because Longleat is a private limited company and it would only give shares to the investors it selects.
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It's a lot easier to manage. * Job Descriptions - Everyone who works needs to know their job descriptions. People at HR can tell employee's this and can tell new recruits everything they need to start working. * Recruitment - If a job opportunity arises for someone at Tesco then several procedures need to be put in place in order to get the person started working. HR will deal with everything as well as the "Teams & Job Description" section. o The above list represents some of the Teams in HR.
- Word count: 1238
It does this buy selling cloths at a very cheap price. Oxfam's purpose is not to make a profit. Its purpose is to earn money for charities so they can make the world a better place. This means that instead of keeping the money they earn for them selves they donate it to various charities. Additionally if Oxfam does not keep the money they earn they cannot afford to pay all of there workers, therefore some of the workers are voluntary. Findings Business aim: A business aim is a long-term goal for a business. Objectives: A business objective is a target, which a business can set for there company to help them achieve there overall aim for the business.
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Also for a new business like mine I'm going to keep in mind that I am a new company without a reputation so I must have low prices other wise consumers will prefer to go to a well known brand so I have to try and get consumers attention. Other factors include looking at supply and demand once they research this they have to choose their strategies depending on the time and product. There are seven main strategies I will be looking at and comparing which one is best for my business and when.
- Word count: 842
Without profit, a business is unable to do all the things a business wants to in order to continue being successful, for example, without profit, the business can't keep its shareholders happy, it can't pay higher wages to its employees, it can't invest in better technology to improve its products and so on. A company that does not make profit will find it difficult to reinvest money into research and development; and the business will also find it complicated to invest in new technologies and equipment.
- Word count: 1041
So McDonalds has more than 400 000 employees so it is a large business. ( http://en.wikipedia.org/wiki/Mcdonalds) Ownership McDonalds are independently owned and operated. It's a franchise which means you basically buy the name, brand, and make money off of it. Barry's Butcher And Dhillon Supermarket are being run by 2 people so it's a partnership A partnerships is between two and twenty people of course this business is only being run by two people, so it's a partnership. Before when two people setting up a business together they are drawing a deed of partnership.
- Word count: 607
Shares sold to the public bring in a lot of money to the company. HMV belongs to the tertiary sector, and is a public limited company and it's the largest of it kind in Britain and Canada HMV sell Entertainment good's such as music, Blue ray, DVD's, games, gadgets and t-shirts; they also sell ticket to gigs and comedy. HMV was founded in the 1920 in London. HMV is a global company but is based in the UK with over 700 stores in 7 different countries and over 11,400 staff. It's served in the UK, Republic of Ireland, Canada, America an in the Far East. HMV is a global company and it's well known.
- Word count: 662
The site should also be designed to prevent customers making obvious mistakes, such as cloning an order by submitting the same order form twice. Unfamiliar Trading Conditions These can affect both the business and its customers. The main reason online trading was pretty slow to take off was because customers were worried about purchasing online. Usually, once new customers have successfully buy goods online they became less stressed with online shopping. Businesses that are used to working on a small scale or dealing with customers on a personal level find it difficult to adapt.
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Equality of Presence Regardless of Size of Business A customer who visits online services doesn't judge the company whether it's small, medium or large but instead judges on the quality of service, the attraction of the site and on how easy the website is to use. So on paper, a small business can be a strong competitor for medium and large businesses and can even attract more customers. Rapidity of response to customer interest You can respond to a customer quicker when having an online webpage, but it is not been used effectively by some organisations.
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The cleanliness of the overall working facilities also has a factor in the production process. The level of cleanliness at Amazon is not that high and is the lowest standard of the three. Dust appears in places such as the warehouse, although subsequently there is no effect on production. The levels at TI need to be at a high standard, as one particle can kill a whole chip, so extra precautions are taken out. A good standard of cleanliness helps at Nissan, specifically in areas the paint plant, a moderate level of cleanliness is required.
- Word count: 604
What is a good location to start a Juice Business? Initially living in England I decided to look for potential properties in populated areas here. After a lot of research I decided the best area to buy a juice bar would be Central London as this is where the main tourist trade takes place and is the wealthiest sector of England. I looked through properties for sale in this area and the average shop for sale in this region was £750,000 and to rent a property it was working out to be £4000 a month.
- Word count: 601
An example of a business plan. My business is to start up a online clothing/retail store using just the internet
My competition will be high all my competitors will have an edge of using shops in actual malls and high streets. Some of my competition: * asos * river island * topman In the business market I don't have that much of a gap but I have a few usp's making my service more successful than other businesses in the same market. My service is a clothing retail online business aimed at teens or older men/women but unlike other retail businesses I offer many usp's such as online pictures of what the product may look like on you and also video's on different ways of wearing or using the product.
- Word count: 517
This piece of coursework will be explaining the areas of growth or decline in the primary, secondary and tertiary sectors.
is a farmer say people would cut the grass now they have a mowing machine to do it for them. As the completion overseas is very completive in some areas like farming as other countries have a better climate the food would turn out better and quicker making it cheaper to buy overseas.
- Word count: 555
?? Sophie Pattinson 10T11 4th
- Word count: 6
Hospitality organisations have to ensure that a high standard of service is provided to families. For example at the hotel, family would expect the level of service to be really high.
In these places, children can meet new people and take part in many new activities. Families would want to stay near some of the quieter location. This is because they don't any disruption while they are staying on their holiday. They would also want restaurant to be near the hotel. * Corporate The location should very accessible for corporate customer to visit. It should have easy access to transport links corporate customers would look for location which is very much near to their business areas. They want different types of transport to available to them to get to their business meeting or areas on time.
- Word count: 972
Describe the main physical and technological resources required in the operation of a selected business.
The building will need to include amenities and facilities for the workforce to use. These include things such as male, female and disabled toilets, a staff room for the employee's breaks and a kitchen for the workforce to be able to make and have somewhere to eat. There will need to be a contingency fund for the building in case there are any unexpected problems that you cannot foresee that are going to happen, for example if there was a natural disaster or if the building needed a new roof, the fund is there as an emergency cash flow to make sure the factory can continue work as fast as possible.
- Word count: 927