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

Starting and Running a business.

Extracts from this document...

Introduction

There are quite a lot of aspects to consider when you are planning to start your business. The needs of a business: - All business needs resources. So we do. These are some resources includes * Premises (Building or property) or at least some space in which we can work. * Equipment such as computer, furniture etc. * Raw materials or stock, if goods will be made or resold. * Someone to deal with customers or process enquires. This may be the owner or additional staff may needed or secretary. * Basic fresh item from carrier bags to printer paper. * CCTV certificate, Fire certificate etc. We need resources that are required and works that cost of each calculation, the start up cost and then decide what tasks must be done and in what order before our business can start trading. Advantages: - There are many advantages for needs of a business. They are following. * We need premises for office so we can communicate with customers. * Computers are important because we can do our work quicker then paper work. Furniture is also required because we will put our office stuff. ...read more.

Middle

Planning techniques includes: - * First you think about what you want to achieve in 12 month time and where you want to be. After that identify the steps and resources that are necessary for achieving this goal. * Using a wall planner to enter key events and preparations for these. * Recording all commitments and 'to do' personal organiser or diary, so anything that is important is never forgotten. Controllable and uncontrollable aspects: - Controllable aspects are that where our partners can directly take some action. This may include * Reduce prices to sell off extra stock and achieve their target sales. * Sign up temporary staff to cover for staff absence due to illness. * Rescheduling work to meet an urgent meeting. Uncontrollable aspects are factor that can affect the plan but these can not be controlled by owners. They are * Changes in interest rates which affect the lone repayments * Competitors launching a new product or service. * The borough council or local authority introducing new parking restriction or one way system that reduces passing trade. * Suppliers increase their prices. Although uncontrollable issues usually involve an element of surprise, effective business owners try to be prepared. ...read more.

Conclusion

cash register * Install telephone/fax line etc * Buy stick * Appoint and train staff * Advertise opening. After this the owner needs to convert the entire list into actions plan using a wall chart, dairy or computer. The plan should also take into account the possibility that things could go wrong, such as stocks are being delivered late. Materials and supplies: - If our business produces well then we must buy regular raw materials for goods. If goods or services are brought ready to use or sell then we called it supplies. In both situations every business needs to find cheap and dependable recourses. Then we need to decide how often to re-order material and how much to order. But before we make any decision we need to look at * Storage space * The effect on the cash flow of paying for large quantities of goods. * Possible discounts for bulks purchases. * The length of time form ordering to deliver. This is called lead time. Whatever we decide, we have to look at how much stock is needs to start up and routine system of reordering needs to be established. ?? ?? ?? ?? Starting and running a business Jawad Ali 11NPH ...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. Tesco Research

    FIVE-YEAR FINANCIAL RESULTS {SUMMARY} Here the information has been re-arranged. The font size and font style and been changed as well. This is because of the way it was formatted. It was not neat enough for the audience to read, So I decided to present it this way, looking useful and meaningful to any reader.

  2. English for business

    Do any of them conflict with your work goals? If so, which is the most important to you? 2. Are you aware of your own limits? Which are they? 3. Do you set unnecessary high standards, do you aim for perfection? 4. Where do you belong to: the optimist, the perfectionist, the rebel, the socialite(important persons) , the worrier?

  1. Applied Business Unit 1

    Swift Supplies How effectively do the functional areas work together to achieve the aims? The departments successfully communicate together to solve issues quickly and effectively as well as help each other to do functions properly. The relationship between staff is professional so it means that communication is appropriate.

  2. Business Studies

    > Not legally enforceable > The worker must report the incident and ensure documentation, employer must show they took reasonable precautions > There is financial burdens associated with injuries - Workers compensation - state/federal agencies and common law State and federal law > Workers compensation: aimed at rehabilitating employees >

  1. Business studies - Business Plan

    I get on well with other people. Yes This is a vital part of any business communication and working with others. It is important to get along with others as it is important that your employees don't see you as just an authority figure but as a person they can talk to.

  2. Business Plan. After putting a lot of thought into what kind of business we ...

    is that the Portuguese may not like it as it is not what they are familiar with so this could make this business fail. A milkshake bar: I came up with this idea as there are no milkshake bars in the area. The only places that sell milkshakes are restaurants.

  1. Sole Trading. Laws and regulations affecting my business

    that they exist, if 5 or more people are employed then a health and safety risk assessment must be taken out. This is related to the health and safety at work act. By law if a business employs a certain amount of employees must have a risk assessment.

  2. n this unit, I will be investigating two businesses namely, Boots and Pwc and ...

    nursing and residential homes Medicine Boots is the market leader for vitamins (For which the Boots brand is the biggest) minerals and supplements. Boots accounts for a quarter of the OTC medicines market. Beauty Boots is the front runner when it comes to cosmetics, fragrances, dental and hair care Boots

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