• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Business Purposes of companies in different sectors of the economy.

Extracts from this document...


UNIT 1 - Business Purposes Task 1 Primary - ArcelorMittal ArcelorMittal is a global steel company. This operates more than 60 countries over the world, their main headquarteris in Luxemburg. ArcelorMittal is market leader in steel use for automotive, construction, household appliances and packaging, as well as sizeable captive supplies of raw materials and distribution networks. It was established in 1989 by Mr Lakshmi N. Mittal, the chairman of the Board of Directors and Chief Executive officer of ArcelorMittal. The company has experienced rapid and steady growth since the strategy was set has worked well accordingly. Then in year 2000 the company's business assistance signs a deal with South African company called Iscor. The agreement is decided that to provide over three years of period in exchange for Iscor shares also provide certain cost saving. Key financial for 2007 shows the revenue of US$105.2billion, with crude production of 116million tonnes, displaying around 10% of the world steel output. Recently in January 2011, ArcelorMittal has the division split off from stainless steel as new company Aperam takes. The purpose of ArcelorMittal is to research and make development, which has four dedicated Laboratories in the United States and Europe, is to present them in action in increasingly competitive solution. ...read more.


They belong in the tertiary sector. Tertiary - Next Plc. Next is a retailing store all over the UK, Ireland, and other countries around the world, they do clothing, accessories, and footwear and home products. The company was founded by Joseph Hepworth in Leeds 1864 named as Joseph and sons tailoring, then in 1982 the company Next was founded. In 2009 next launched its first online catalogue. The company's chairman is John Barton. Next main purpose is to make profit by selling their clothes, accessories, footwear etc. This helps them to pay their shareholders during their financial year. Next is a public limited company which has shares listed in London stock exchange. General public can buy share and receive division depending on their investment. The company employs more than 55,000 people therefore it makes them large organisation. The advantages of public limited company are that companies are able to raise funds and capitalize through the sales of their securities. This is the reason public limited companies are important: prior to their existence, it was very difficult to obtain large amounts of capital for private enterprises. A private limited company has no authority to communicate with the public limited company, if any financial information; such information could be useful to competitors. ...read more.


The government plays a huge role in this to help the businesses make growth. Business rates are pooled by central government and redistributed to local authorities according to the number of people living in the area. The money, together with revenue from council tax payers, revenue support grant provided by the Government and certain other sums, this are used to pay for the services provided by your local authority and other local authorities within the area. Now the government has also carried out a new scheme called the regeneration this scheme is basically about developing Newham by making various changes such as more businesses opening in the areas. The government is providing too many opportunities for the businesses in 2012. There's a website created called CompeteFor, simply get registered free then they will be giving you opportunities about what you can do in 2012. Green Street is alive with many shops, restaurant and the sights that reflect Newham with the cultural diversity, innovative style and boundless energy. Green Street ranks up to 400 shops selling everything. This makes a big tourist attraction on its own. There are things you can get from all around the world, with Asian food, fashion clothes, jewellery. There's queens market as well which has many stalls selling spices, fruit and vegetables and other stuff like Indian ware. ?? ?? ?? ?? Page | 1 ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Business, Companies and Organisation, Activity section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Business, Companies and Organisation, Activity essays

  1. Functional Areas within McDonalds

    ICT security systems will also be used to control content which is sent or received on a company email system. This used a lot in McDonalds such as at the counter when a order is placed the person at the till will press a button on the keypad for say

  2. Business Studies Edexcel Coursework

    Sales Promotion Errol can specifically target his audience using sales promotion tools such as vouchers, discounts, etc. Advantages: Quick increases in sales can be achieved by targeting promotional incentives on particular products, e.g. Car shampoo (in the summer), De-icer (in the winter).

  1. Tesco Research

    This kind of activity leaves an image of Tesco as caring to the needy those winning more customers and customer loyalty. Sponsoring age cancer targets to cancer patients and other new potential of showing how the organisation cares about the suffering ones.

  2. Free essay

    business sectors

    Paper records were originally handwritten, then machinery such as the typewriter and calculator made paperwork quicker and more efficient. Now ICT has replaced these older methods. Computers are used to word process, calculate and maintain data records.

  1. Type of Business Ownership, sectors, types of bysiness and size of business

    The position of the sole trader has its disadvantages. You have a limited source of finance, making it difficult to expand. There is nobody to share the workload, which may create stress for the sole trader. There is also no one to share ideas or managerial skills with.

  2. Business Studies

    overdrafts and accounts payable through the injection of more funds > Used retained profits > Sell non-current assets and have more funds available > A reduction in stock levels or inventory controls eg)JIT > Reduce accounts receivable through factoring > Batching more frequently to increase cash flow > Increase long term debt eg)

  1. Functional Areas

    This area supplies the company with information. Administration helps everyone in the areas because they have computers and print out sheets that everyone will need. E.g. forms, leaflets, health & safety policy etc. IT has helped McDonalds in the recent years because of the internet.

  2. A Brief History of John Lewis.

    * Small amount of capital needed * Can make all the decisions * Can keep all the profits * Can provide a more personal service * Is own boss Disadvantages * Unlimited liability * Difficult to raise capital * Difficult to compete with large companies in terms of price *

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work