- Join over 1.2 million students every month
- Accelerate your learning by 29%
- Unlimited access from just £6.99 per month
GCSE: Business, Companies and Organisation, Activity
Meet our team of inspirational teachers
Five different forms of ownership that you should know
- 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 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 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 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 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 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 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 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 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 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 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 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 Businesses in the voluntary sector are usually charities that raise money to provide help to particular groups.
- 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 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.
- Marked by Teachers essays 12
- Peer Reviewed essays 4
NVQ level 2 unit 2 Business Administration. Worksheet on Principles of providing administrative services5 star(s)
If not the correct person ask for them. Clearly explain the reason for calling and ask them to confirm their details as per Data Protection Act. Get the job booked in and confirm date and job number back to customer. Thank the customer for their time and ask if there is anything else you can help them with. 1. When receiving calls- Always endeavour to answer within a specified time limit and greet the caller with the personalised greeting that includes your name and ends with ? how can I help you today?? Actively listen to their request and ask questions where needed.
- Word count: 3138
Business Plan. After putting a lot of thought into what kind of business we would set up we came up with a unique proposal of choosing a milkshake bar with a twist.
The business activities need to be managed carefully such as measuring their financial performance and health. The resources need to be considered in terms of quality control, quality assurance and total quality management. The understanding and importance of profitability in a business, the difference between assets, liabilities, expenses and revenues. The business will have to consider how spreadsheets are used for cash flow and profit forecasting, budgeting and break-even analysis. We need to know how businesses use specialist software, how they use the internet as a source of information and email for communication and e-commerce as a method of trading.
- Word count: 10891
Aids efficiency. Business objectives - The aims or targets that a business works towards: Increased profit Increase added value Expand the business Achieve business survival Provide a service to the community Added value - The difference between the selling and manufacturing price of a product Stakeholder - Any person or group with a direct interest in the performance and activities of a business, e.g. owners, workers, managers, consumers, government, community 2) Business growth Internal growth - Occurs when a business expands its existing operations External growth - Integration; When a business takes over or merges with another business Horizontal intergration
- Word count: 6217
They might not answer your questions. Visiting the place More reliable Face to face Ask any questions How to get there Time taking Leaflets and Brochures You don't just have your opinions you get to know other peoples opinions. Won't be reliable because it is likely for the leaflets or brochures to have evidence to prove that Ikea do this or Richards Paints specialise in this. TV Adverts Everyone can see it on the television and it is short and snappy. It might be too quick so you might miss it and it might only come on once in a while.
- Word count: 4062
If things go wrong the creditors are paid out of the company's assets not from your own personal assets. Also once you have chosen and registered your company name no other company can use the same name, unlike private limited company's where names can be duplicated. What's more, a few additional advantages of a plc include: > The opportunity to more easily made acquisitions. > The increase in additional capital by issuing more shares or debentures. > Greater/cheaper borrowing power and bulk purchasing.
- Word count: 4899
Another drawback is that the market is only on twice a week and even if you choose not to distribute through a market stall the market would attract more customers to the town. On an average market day there are only 18,000 visitors (which is almost half that of Dyton). Brief description of Dyton As you can see as in Tonbury, most of Dyton's population works in the C1 socio economic group however what is different to Tonbury is that the second largest group is B which shows that Dyton's population is angled more towards the better socio-economic groups.
- Word count: 3164
> Managers ensure that the teams get proper training and correct equipment > Workers have increased control of their own behaviour - Complex problem-solving and decision-making, - Ethical and high personal standards > Unethical behaviour is considered unaccepted by society which can result in lower sales and profits ect... � Responsibility to stakeholders; reconciling conflicts of interest - Stakeholders often have conflicting interests: > Stakeholders can be put into 2 separate groups internal and external Responsibilities to internal stakeholders:
- Word count: 20212
They also give hair, nail and skin treatments to their customers. One purpose is to increase the amount of sales so they give lots of discounts and free products to make customers come back and tell their friends about them. As they exist also to make a profit so that their business can carry on and give their customers the quality of services they give to their customers and so that they can carry on buying products from other companies.
- Word count: 3076
Also the shareholders receive some of the profit that is made by Lex. At Lex Transfleet the annual accounts have to be published to the public, this is an disadvantage for them because then their customers and other business can see what their annual accounts is. Another disadvantage of Lex being a PLC is that there are a lot of difficult legal issues to sort out when forming and running a PLC. Memorandum of Association This shows that how many employees work for Lex and what Lex actually is. Also this shows the nature, purpose and structure of Lex Transfleet.
- Word count: 9945
Of course, different systems are applying to different groups of people and different size of organizations. For example the small size organization likes to adopt ranking and rating scheme. However, for larger organization which have enough HR expertise, thus they could adopt the complex methods like competency based or 360 degree appraisal. In order to separate out reward and non-reward appraisal, organization may use more than one system of performance appraisal. Objective performance appraisal As the paragraph above shows the main objective of performance appraisal is to "determine who should be promoted, demoted, transferred, or terminated"2.
- Word count: 3007
Tesco have a Head Office that is accountable for appointing area managers and other senior people in the business. However, the recruitment of people to each individual store would usually be done by the store manager or PA manager. Each individual store does not have a Human Resources department, but the manager performs this occupation. Christmas is an example of a hectic time of year when Tesco will recruit more workers into the organisation to deal with the increase in customer numbers. Another job which relates to the Human Resources function is retaining good staff. Tesco do not want good staff to depart because they are a plus point to the business and also Tesco will have used up a lot of time and money getting the employee to this benchmark.
- Word count: 7605
Tesco will want to have the prestige of becoming the market leader in their field of business. Survival: Tesco has survived since 1919; this means that they have already achieved this aim. It was established as a single store and is now that UK's leading supermarket chain. It has competed for supermarkets and taken them over (bought them out) such as Aldi, Netto and Sainsbury's and other so called major superstores. Another objective to gain more customers is to have promotions and special offers which are cheaper than the competition. Tesco can examine the competitors that it has; they can do this by using market research, they can do market research by doing surveys and questionnaires.
- Word count: 5493
In this section I will explain every one the different types of business ownership. Also I will give details about the advantages and disadvantages linked with each.
- Developing the business is also limited by the amount of capital personally available. - There is Unlimited Liability - if the business goes bankrupt you may have to sell all your possessions, including your house, to pay the debts. Partnership Partnerships are businesses owned by two or more people. A contract called a deed of partnership is normally drawn up. This states the type of partnership it is, how much capital each party has contributed, and how profits and losses will be shared.
- Word count: 4448
It would be my intention to find out how many people would want a Yearbook and I could get the Year 14 to order them so I make the exact amount and the biggest profit I can. I will research the profitability of the yearbook. I need to make sure that the Yearbook demand is high so I do not waste my time and effort constructing it. To go through with the project I would have to study how high of profit I could make.
- Word count: 6076
Also, a recognised brand name can be used and there are capital earned from advertising and promotion would go to the franchisor. However, franchising can have adverse disadvantages also. Costs to set franchises up are very high. The initial costs of buying the franchise is high and after this the franchisee continues to pay monthly payments for the upkeep of the business. Furthermore, there are restrictions involved when being the franchisee, such as adjustments being made as the market keeps changing.
- Word count: 9006
Business plan for a new shop.The business idea I am going to be presenting is a clothes shop called Raiinbow. My shop will be aimed at clothes for 13-25 year olds.
my customer profile would be customers from all ethnicity and certain ages that never feel comfortable in buying clothes because they either can't find the size or something they like. They would most probably like all colours as well. Pass 2 - Describe how to identify your target market Fashion Questionnaire (Please tick correct boxes) 1. Male Female 2. How old are you? 13-15 16-18 19-21 22-25 3. How do you consider your style of fashion? Classy Dull Bright Other If other, please state your style of fashion: 4.
- Word count: 3509
with them in the business profit Third party distribution Sub- contracted businesses which are interested in the business at richer sounds because they need more supplier from the supplier in able to keep on with the business. They are the businesses that participate with richer sounds. Money, get paid Financiers Loans- banks - money loaners large businesses Financial aspect of the business The community Local people who live and work in an area of there is a richer sounds store Businesses keep an area regenerate and vibrate and also offer Employment opportunities and employment Richer Sounds interacts with their customers'
- Word count: 5400
In 1983, McDonald's corporation became sole owners of McDonald's in UK and the company was named McDonald's Hamburgers Limited. The 100th UK restaurant was also opened in Market Street, Manchester. McNuggets was also introduced in USA. In 1986, drive-thru restaurants was opened at Fallowfield, Dudley, Neasden and Coventry in UK, the 200th UK restaurant was opened in Ipswich. In 1988, 300th UK restaurant was opened in Dagenham, Essex. Forty-three years after opening first restaurant in Des Plaines, Illinois, McDonald was proud to come to customers on World Wide Web. McDonalds.com receives millions and millions of hits every week. McDonald is the leading global food service retailer with more than 30,000 local restaurants serving nearly 50 million people in more than 119 countries every day.
- Word count: 3612
n?n-m?n?t?ry inc?ntiv?? i? ?n imp?rt?nt ?nd??v?r, ?inc? U.?. firm? ?p?nt ?v?r $20 billi?n ?n t?ngibl? n?n-m?n?t?ry inc?ntiv?? in 1999 (Inc?ntiv? F?d?r?ti?n, 2000). Whil? thi? i? ? ?m?ll fr?cti?n ?f th? $4 trilli?n U.?. p?yr?ll, it i? ?till ? ?ub?t?nti?l ?m?unt ?f m?n?y, ?nd r?pr???nt? b?tw??n 5% ?nd 10% ?f t?t?l ?p?nding ?n ?mpl?y?? inc?ntiv??.1 ?t ? m?r? t?ctic?l l?v?l, th? limit?d r????rch ?n th? typ? ?f ?xtrin?ic inc?ntiv? t? u?? m??n? th?t thi? ?ignific?nt ?m?unt ?f m?n?y i? b?ing ?p?nt ?n inc?ntiv??
- Word count: 11913
Choose a vacant local business site. Make recommendations on how it may be developed for business purposes
locations of each of the business sites o Find out the prices of the sites, to buy and/or rent o Consider the implications of the appearance of the sites * How aesthetically pleasing are the premises from the exterior? * What potential do each of the sites have in terms of improvement? * How aesthetically pleasing are the premises from the interior? * What potential do each of the sites have in terms of improvement? * How will the surroundings of the sites affect the overall impression of the business itself?
- Word count: 6527
This would harm the wildlife that may live into the rivers etc. a business must ensure that they do not throw any chemical substances down their drains in order to comply with this act. The last act that there is the noise act; this is when regulations have been set for the amount of noise that a business makes. Noise pollution would affect the residents as they would be disturbed in their homes. The noise act would contain regulations such as not making noise after a certain time and having machinery etc that does not make a lot of noise.
- Word count: 10407
pay negotiations with unions/workers Production Makes sure that the production plans are met on time and products of the right quality are produced Purchasing Buys all the raw materials and goods required for production Sales and marketing Sales function deals with all aspects of selling to customers; the marketing function carries out marketing research, organists advertising and product promotion There are many tasks every business needs to do if it is going to succeed. Each of these tasks is described as being a function of a business.
- Word count: 3705
The Human Resources department will also have records of former employees and what position they had in the company, this will determine the amount of pension money they will receive when they turn fifty-five years old. When there is an accident in the business then the human resources department will provide compensation for the employee. Take for example at McDonalds if somebody is burned by something hot falling on them and it wasn't their fault then they are eligible to seek compensation.
- Word count: 3753
Productivity can be calculated by looking and measuring a various number of things. The main point when looking at productivity in a business is looking at how effectively and efficiently the input (resource) turns into an output (good or service). Even when productivity increases the implications it has on different parts of the business are different. The main reason for measuring productivity is to find out or to realise the main areas that need improvement, those areas which have strengths and those which have weaknesses. One way of measuring productivity is by counting the amount of customers.
- Word count: 4830
* A company will pay its staff a wage or salary. * Wages are usually an hourly rate that gets weekly. * A salary is when employees are paid a yearly figure - this amount is usually split up and paid on a monthly basis. * The finance department are responsible for making sure each employee is paid the right amount and at the right time. * It must also make sure all the necessary reductions are taken - these include Income Tax and National Insurance.
- Word count: 3353