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

Compare the two companies Tesco's and McDonalds

Extracts from this document...

Introduction

Introduction In this coursework I am going to compare the two companies Tesco's and McDonalds and their aims and objectives. Both companies are two well known companies. The main difference between the two is that Tesco's is a huge supermarket which sells a variety of products, such as food, clothes, electrical goods, cosmetics, and etc and McDonalds is a fast food venue. The reason for why I chose two contrasting companies is because it would be interesting to see how each company's aims and objectives helps them to be so successful. Obviously the aims and objectives will vary from one another but their also may be some similarities, even though the companies ate two separate stores. Definitions of aims, objectives and business activities Aim - An aim is a purpose which is a anticipated outcome that is intended or that guides your planned actions. An aim is a set target which leads on to success in your goal. Objectives - The smaller targets or steps which have to be taken in order to achieve your aim or goal. Business activities - is an activity undertaken as part of a commercial enterprise The company I am first going to research will be Tesco Business activities for Tesco: Tesco's aims and objectives Aims: . ...read more.

Middle

I will now be finding out the aims, objectives and business activities of McDonalds About McDonalds McDonalds began with one restaurant in the US in 1955 and today there are more than 26,500 restaurants in over 119 countries. McDonalds first opened in the UK in 1974. More than 2.5 million people in this country trust McDonalds to give them food of a high standard, quick service and value for money. In my opinion McDonalds create a high standard of customer satisfaction. My reason for thinking is this because customer convenience and research is driving force behind new restaurant locations - which had led to new McDonalds in sites as varied as cross- channel ferries, a bowling alley and London's former county hall. Currently there are more than 1000 McDonald's restaurants throughout the UK. Main Aim & Objectives of McDonalds McDonalds' aim is to be the 'world's best quick service restaurant experience. This means running and opening great restaurants and providing exceptional quality, service, cleanliness and value, so that they make every customer in every restaurant smile. McDonalds targets primarily children (Happy Meal, toys, and adverts) in the hope to build a life long customer relationship and future brand loyalty. McDonalds focuses on maintaining a powerful brand to differentiate its core products (Big Mac, French Fries) ...read more.

Conclusion

The advantages of using beak even analysis is the following: . It's visual and easier to understand . It shows the amount of profit and loss for the company Also to see the effectiveness on the break even point. Output is measured on the horizontal axis. Which means Revenue costs and profits is measured on the vertical axis. A fixed cost is the amount of money that stays the same To find out the total cost we need to use the formulae we have to use is fixed costs +variable costs. The break even analysis helps the companies to achieve their aims and objectives. However it helps the company to keep a estimate of the actual amount of the money taken in etc. it helps the companies aims as they can figure out what the actual profit and loss has been, taken by the break even chart. Tesco's break even chart The use of graphs is helpful in break-even analysis/ it is possible to identify the break-even point by plotting the total costs (TC) and total revenue (TR) equation on a graph The reason why break even analysis is vital is because the break-even chart is an easy visual means of analysing the firms financial position at different levels of output. The chart can also be used to show the effect on the break-even point. ...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 Accounting & Finance 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 Accounting & Finance essays

  1. BREAK-EVEN ANALYSIS OF MCDONALDS

    The supplier need to ensure they can meet McDonald required standards. And their standards are based on quality, value and cleanliness. * Also McDonald want to expand and growth in UK. It grows rapidly in UK in these 25 years, the graph below show us: * To be the best

  2. Give an explanation of break-even analysis and explain how it supports the achievement of ...

    This is drawn in a similar way to total costs. For the maximum level of output, calculate the sales revenue and mark this on the chart. In this case, maximum output of 250 000kg multiplied by selling price gives �250 000 each year.

  1. Compare the final accounts of two organisations explaining the similarities and differences.

    So if an amount is spend on an item which will be used in business for many years, it will not be proper to charge the amount from the revenues of the year in which the item is acquired. Using going concern concept can: * Facilitates preparation of financial statements

  2. The Purpose of Keeping Accurate Accounts

    There are less worries of the accounts balancing because each entry you make will be automatically be entered into the right ledgers. All of the transactions have to be entered accurately. If a mistake is made and a figure is entered into the wrong account, for example entering a sale

  1. Costs, Profits and Break-even Analysis.

    This is the line marked sales revenue in the diagram below. Before commencing production a firm must buy what are known as its FIXED ASSETS. These are the profit generating parts of the business and form the fixed costs. As such they have to be paid for regardless of output.

  2. Unit 5 Introduction to Accounting

    Although brand recognition is not a physical asset you can see or touch, its positive effects on bottom-line profits can prove extremely valuable to firms such as Coca-Cola, whose brand strength drives global sales year after year. Goodwill If you are buying an existing business you are also buying the reputation of that business.

  1. This report has been produced as evidence for Unit 9 - 'Financial Services' - ...

    The occupational pension scheme may be contracted out of additional pension, which means you will not pay contributions into additional pension and will only be entitled to a basic state retirement pension plus an occupational pension on retirement. If the scheme is not contracted out of additional pension you will

  2. Investigating financial control for a new restaurant.

    Revenue is the money a business receives from sale of its products and services. Establishing the break even helps the company to plan the levels of production that it needs to be profitable. Break Even of Mark's Restaurant This is the formula and the figures for Marks break even

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