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GCSE: Business, Companies and Organisation, Activity

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Five different forms of ownership that you should know

  1. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 3 Businesses in the voluntary sector are usually charities that raise money to provide help to particular groups.
  4. 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. 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.

536 GCSE Business, Companies and Organisation, Activity essays

  • Marked by Teachers essays 12
  • Peer Reviewed essays 4
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  1. Marked by a teacher

    NVQ level 2 unit 2 Business Administration. Worksheet on Principles of providing administrative services

    5 star(s)

    A thorough piece of work that answers all the questions raised. There is clear evidence of research. It could be improved by more application, ie. saying what happens in a…

    • Essay length: 3138 words
    • Submitted: 01/10/2012
    • Marked by teacher: (?) Dennis Salter 01/05/2013
    • Awarding body: Not known/Not applicable
  2. Marked by a teacher

    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)

    *****
    This is a very well researched piece. The writer has confused some of the objectives and the actions that Jaguar are taking to achieve them but that is not…

    • Essay length: 2550 words
    • Submitted: 28/02/2010
    • Marked by teacher: (?) David Salter 21/03/2012
  3. Marked by a teacher

    functional areas in oxfam and sainsburys

    4 star(s)

    **** Parts of this are very good showing well considered analysis. Other parts seem to show a lack of understanding of what both businesses are about. It is important to…

    • Essay length: 2009 words
    • Submitted: 12/03/2008
    • Marked by teacher: (?) David Salter 01/12/2012
  4. Marked by a teacher

    Tesco Stakeholders

    4 star(s)

    **** This is good as far as it goes but it does not discuss the interests of all of the stakeholder groups as it says it sets out to do.…

    • Essay length: 1420 words
    • Submitted: 24/01/2008
    • Marked by teacher: (?) David Salter 01/12/2012
  5. Marked by a teacher

    Types of businesses - Marks and Spencer is a (PLC) Public Limited Company.

    4 star(s)

    **** Many good points in here and evidence of good research. It really does need an introductory paragraph to explain its purpose and some of the terms need much further…

    • Essay length: 604 words
    • Submitted: 04/09/2003
    • Marked by teacher: (?) David Salter 01/12/2012
  6. Marked by a teacher

    Do you think it is a good idea for companies to use corporate social investment to promote their corporate image?

    3 star(s)

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    This improves as it goes but the writer does not show evidence of a full grasp of the questions. Full understanding of the material is necessary before beginning…

    • Essay length: 1507 words
    • Submitted: 12/04/2012
    • Marked by teacher: (?) Dennis Salter 01/05/2013
  7. Marked by a teacher

    Contribution to innovation and change. Explain three points of innovation in a business environment.

    3 star(s)

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    This is an interesting piece on how a business can implement change. My main criticism is that it does not follow the task headings for much of the time…

    • Essay length: 957 words
    • Submitted: 15/02/2012
    • Marked by teacher: (?) David Salter 05/04/2012
  8. Marked by a teacher

    Functional Areas within a business:- examples form CarPhone Warehouse and Meningitis charity.

    3 star(s)

    This assignment is very general. There is little evidence of actual research into either of the businesses or of deep thought about what they need to do their business…

    • Essay length: 968 words
    • Submitted: 23/11/2011
    • Marked by teacher: (?) David Salter 12/02/2012
  9. Marked by a teacher

    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)

    This essay makes a number of good points about the types of ownership and gives good local examples. It is quite confused in its structure however and the writer is…

    • Essay length: 1541 words
    • Submitted: 10/07/2011
    • Marked by teacher: (?) David Salter 12/02/2012
  10. Marked by a teacher

    Economic Influence on a Business

    3 star(s)

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    The writer brings in many non economic factors and does not develop the economic ones enough. They should consider the effect of the economy on Longleat's customers much more…

    • Essay length: 723 words
    • Submitted: 04/01/2011
    • Marked by teacher: (?) David Salter 21/03/2012
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Conclusion analysis

Good conclusions usually refer back to the question or title and address it directly - for example by using key words from the title.
How well do you think these conclusions address the title or question? Answering these questions should help you find out.

  1. Do they use key words from the title or question?
  2. Do they answer the question directly?
  3. Can you work out the question or title just by reading the conclusion?

  • Compare & Contrast 2 Businesses

    "CONCLUSION: in my word the market nature of the business is really important to the business it helps the business to meet it aims and objections. The consumer laws also help the business to know their right towards their customers in that part of the business. Most of the success depends on the location and most of tescos shops are located in the right place. And with the minor business it has to make sure they treat their customer's right because there a saying that "customers are always right" and they must abide with the consumer laws of the business or they might go out of business."

  • Analyse the relationship between job roles, functions and an organisations structure, using appropriate illustrative examples.

    "Conclusion â what does a correctly organised structure allow the organisation to achieve? ________________ An organisation can be structured in many different ways, depending on their objectives. The structure of an organisation will determine the modes in which it operates and performs. Organisational structure allows the CEO of Tesco allocates responsibilities for different functions. Also a high correctly organised structure allows the organisation to achieve their aims and objectives this is because a structure easily allows the aims and objective it clearly shows what needs to be achieved by each functional area. ________________ ________________ ________________ ________________ ________________ ________________ ________________ ________________ ________________ ________________ ________________ ________________ ________________ ________________ ________________ ________________ ________________ ________________ ________________ ________________ ________________ ________________ ________________ ________________ ________________ ________________ Mrs Watterston Edexcel Business BTEC Level 2 2010/2011"

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