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Activity 1a Business Activities, Aims and Objectives

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Activity 1a Business Activities, Aims and Objectives The two businesses that I will compare are: Richer Sounds and UKwebco Richer Sounds size and scale of their business is national, the number of their employees are 403(2009). There are 6 key people. Ukwebco size and scale of their business is local, international and national. The number of their employees is 30. Their customers are HSBC, Toyota, Harsco track technologies through significant high street and online retailers including Linens Direct, walls, floors and handle store. Richer Sounds is a public sector and the sector is increasing. For the past 20+ years this store has been featured in the Guinness Book of any retail outlet in the world. Ukwebco is a private sector. This sector is increasing, because for years they have perfected their expertise in designing and managing successful web solutions. They use this expertise to deliver, increased efficiencies for their clients. ...read more.


Richer sounds don't expect to change his business in size because his business is already very big. But Ukwebco expect to change in size because the business is growing and they have lots of customers so they need a bigger office. Richer Sounds main aim is to keep moving their business forward, so their aim is to: * Provide second to none service and value for money for their customers. * Provide themselves with secure well paid jobs working in a stimulating and equal opportunities environment. * Be profitable to ensure their long term growth and survival. Ukwebco main aim is to: * Make a profit * Make sure that their business is working well To achieve these aims Richer Sounds will change the way they try to achieve their aim, so they will: * Review and change their product line to ensure that their customers receive value for money. ...read more.


* Customers may be prepared to spend more to buy better quality goods and may use their credit card to do this, if the interest charged would be less. An increase in interest rates can therefore cause problems. So they have to sell more goods to cover their own increased charges for their overdraft. Changing prices will affect them too, because if their supplier's prices increase then they will have to shop around to find better deals. Richer Sounds is affected by changes in exchange rates because they buy a large amount of their stock abroad. I the number of competitors increased within the market/sector this can affect their aims and objectives so they will have to: * Minimise errors * Maximise Productivity * Reduce prices * Offer better deals * Provide a better service But, if they have less competitors they can: * Put up prices * Open a second shop * Increase the size of their shop * Develop the lines that they are selling ...read more.

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