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GCSE: Business, Companies and Organisation, Activity

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Five different forms of ownership that you should know

  1. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 3 Businesses in the voluntary sector are usually charities that raise money to provide help to particular groups.
  4. 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. 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.

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    * Try not to get angry or upset to what you hear, for example if someone is complaining about service he or she has been given or if an item has not been delivered. Do not take it personally and then take offence and start giving offence back. If for any reason you think that you personally are being insulted on purpose. Then get help to deal with the person calling, or standing in front of you. * If the person to whom you are talking to seems to be taking a long time to get to the point or keeps adding details that are unnecessary.

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  2. Business Report

    Where else do you shop? Table1 WHERE ELSE DO YOU SHOP? Croydon Croydon - - London London London London London Croydon Other London London London London Croydon - Croydon - - Q6. What shops do you visit there? Table1 WHAT SHOPS YOU VISIT? Clothes Books - - Sports Equipment Clothes Clothes Clothes Clothes Clothes Clothes Electrical Clothes Clothes Games Clothes - Clothes - - Q7. Do you purchase goods online? Table1 PURCHASE ONLINE GOODS? No No Yes No Yes Yes Yes No No Yes No No No No No No No No Yes No Q8.

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  3. business evaluationn

    We had also made almost 20 questions, but were not at any point looking to ask all 20, we were just trying to give again a good variance and it tended to work rather well up to a point. We began by giving different sections of the questions to everyone in the group and to ask them accordingly, but when we got involved in the first interviewee some of the group members had trouble keeping a professional view over the process and began to laugh, this did provide a slight upset to the flow of the interview but I feel we structured well after that.

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  4. Starting a Small Business

    I would need to have an alarm system for obvious security reasons. I will be using a small shop so I will have limited resources needed. I would need trolleys and baskets for the customers to store their goods that they wish to purchase. The counter would need to be quite big in size because I will be keeping the plastic bags and other items behind the till. My business idea has some strengths and weaknesses both for myself and for the business.

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  5. Tesco Research

    The information needs to be valid with a relevant and accurate purpose and meaningful to the business. Information validation is very essential. This is where in this task it would be very useful to Tesco if I would check the source, error management, policy development, and integrated evaluation Explain ways in which more accurate business information can be produced from raw data: * Qualitative sources are primary data, they involve the use of qualitative data, such as interviews, documents, and participant observation data, to understand and explain job specifications. * Quantitative sources are the systematic scientific investigation of quantitative properties and phenomena and their relationships.

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  6. n this unit, I will be investigating two businesses namely, Boots and Pwc and providing information about the Business as a whole

    Boots Retail International- This Company concentrates on supplying Boots' Foreign Market through implants in larger, established foreign stores. The implants sell around 800 products which is a mix of Boots' own brand products and additional exclusive products. Therefore, this section of the business has many benefits as it gives Boots the opportunity to market to an established customer base. Boots Healthcare International- In this department many products are sold such as, medicines and tablets to help customers overcome any illnesses.

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  7. Business Studies Edexcel Coursework

    He also made Errol understand other problems which he would face; Errol had no idea of where he could manage to obtain revenue to finance his business - he could not keep taking out loans. The Bank Manager strongly advised that Errol plan a highly efficacious marketing strategy - which unfortunately Errol had little understanding of. This is where I have been called to assist. Objectives; an objective is how you meet an aim; it is something a target that an organisation or individual can work towards achieving.

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  8. personnel selling

    * Language- Language should be appropriate for a customer, for example in Carphone Warehouse they have to use the right language and not be rude to the customers. * Listening Skills- Listening skills is very important while talking to a customer, for example in Carphone Warehouse a customer might ask questions about various products, or maybe make a complaint so they have to listen to the customer carefully so they can reply back accurately. BSB Sky- BSB Sky use different types of communication such as: * Importance of Tone- Tone of voice is very important while talking to customers, for

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  9. international presence

    For example overseas staff look for business opportunities for UK businesses. They also liaise with the main international funding agencies and provide a host of information about new markets from specialists around the world. European Union The European Union is a political and economic community of twenty-seven member states with supernational and intergovernmental features, primarily located in Europe. It traces its origins to the European Economic Community formed in 1957 by the Treaty of Rome between six European countries. Since then the EU has grown in size through the accession of new member states and has increased its powers by the addition of new policy areas to its remit.

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  10. Business Process Management

    This can be done quite simply by looking at the sales transactions on the till systems and product information systems. In order to meet these aims, the company needs objectives. To ensure that the process runs smoothly, there must be some computerised elements to stock taking and order taking. As a supermarket can sell thousands of different brands and products, it would be very costly and time consuming to have someone who goes around the store counting exactly how much of a particular product there is in the store.

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  11. Business Communications

    Stakeholders are those who have an interest in the activities and results of the business. Preston Manor's stakeholders are: * Teachers * Parents * Support staff * Local authority * Government External communication is important of achieving customer service. Stakeholders (parents) would like continuous communication with the school about what is going on and the arrangements of certain events. The main aim of the report is to look at the main methods of communication. I will also investigate the problems in communication at Preston Manor and also suggest improvements through carrying out primary research. Section 2 Aims and objectives of Preston Manor Preston Manor's mission statement in brief states that they want to "ensure that

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  12. Recruitment. In this task I am going to look at recruitment and training. I will explain the different types of stages that McDonalds use to recruit. I will also look at the different types of training which McDonalds use to help their employees.

    as requested * Monitor website activity and produce monthly report for the Marketing manger * Ensure all customers email enquires receive prompt responses * Attend any training course or team events that may be considered appropriate by the Marketing manager * Maintain staff confidently at all times and be aware that breach of this could lead to instant dismissal * Undertake any other relevant duties which may be identified Person Specification Identifies the essential and desirable qualifications required and the skills and attributes of the person required.

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  13. Functional Areas

    McDonalds promote by Adverts Online Special offers Competitors Vouchers o Place: where to find potential customers. How to distribute the product, what region to cover, what type of transport to use, where to locate restaurants, what kind of shops they use, what type of magazines and papers they read o Product: find out what the customers want and produce it, this requires detailed market research to see what the customers want and what demand there is for the product. Examples of new products Deli Sandwiches McFlurrys Consumer Types Gender We live in a world where the sexes are equal but there are always differences what men and women want.

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  14. world development

    A sales administrator may make overseas travel arrangements whereas an administrator in human resources would arrange job interviews. Some of the main tasks carried out by administrators are: * Collecting, distributing and dispatching the mail * Storing and retrieving paper and electronic records * Organising meetings and preparing meetings documents * Responding promptly to enquiries * Preparing documents using word processing, spreadsheet and presentation packages, such as PowerPoint * Researching information * Sending and receiving messages by telephone, fax and email * Making arrangements for visitors. * Making travel arrangements * Purchasing supplies of office stationery and equipment * Making arrangements for events, such as interviews or sales conferences Costumer service - All businesses need to look after their customers or clients as they often have an enquiry, concern or complaint.

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  15. Describe the aims & objectives of the school.

    Each year the school is given 160,000 to spend on improving the school. The greatest achievement that the money has been spent on is the sixth form environment as the money has improved the facilities. Also as the dinner hall used to be only uncomfortable folding tables it is now comfortable separate seats so overall the school has benefited from the money and still will. Remember all aims are the same for special needs the school wants the best from everyone!!

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  16. Importance of Human Resources Management

    All the needs and resources are accomplished for the employees to give them a bright future at Ford. Leadership development is promoted through mentoring, coaching, which means training is very important for Ford. Ford is looking for a better way to encourage the employees, where they can measure the performance of each employee and reward them to push their confidence. There are very less companies which adopt non-discrimination employment policy, where they treat everybody with same respect and give the same benefits. More about sexual and other acts are stated below in brief. E.1) Human Resources Department: Human Resources department is concerned with the employees who work for the organisation.

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  17. Business Studies Shop

    My market research will be made up of field and desk research. This will help me find out who my potential customers are and what products in my field are most in demand. I will monitor the research and with my findings I will construct a business plan. In order to find the finest way to make my business unique, I must look and gather research about rival businesses. By doing this it will provide me with an idea of what my unique selling point will be, in the hope that I can persuade my potential customers away from my competitors and to favour my shop.

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  18. English for business

    The impact that your communication will have on the productivity of your organization has to be a primary concern mostly if you are the bearer of bad news or your message is concerned with a change that will affect the working life of others. Think about the questions people will need answers to, ask yourself what you would feel if you were to hear this for the first time, decide just what you want your audience to do after you have communicated with them, think about the actions and changes that your communication will cause.

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  19. Aims and Objectives report

    In the early days Tesco would have had to meet many objectives to survive but now they are the market leaders they are settled in the British market and are now financially stable. They have achieved survival by completing the following objectives e.g. constantly evaluate their performance making sure that they give great customer service; provide adequate training and meet consumer demand so customers are happy. Tesco should also monitor competitors to compare prices so they can keep their prices low and their customers happy. This will result in the customers revisiting and recommendations to others so more customers visit.

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  20. task 2 scenario

    and heavy machining is a specialty; applicants should therefore be experienced in heavy engineering machining (up to 20 tons) with both CNC and manual machines. The position involves planning the work through the machine shop on a daily basis, including handing out jobs to the operatives and the routing of work and therefore excellent man management skills are also required. The ideal candidate will also be computer literate, capable of pricing jobs, producing estimates/quotations and dealing with incoming sales enquiries. The successful candidate will be dealing with existing and potential customers and, on occasion, liasing with the Foundry Manager to cost jobs and produce estimates and tenders.

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  21. BTEC FIRST BUSINESS UNIT 1: Exploring Business Purpose

    Background This section intends to provide a brief background on Oxfam and it's two of its main competitors, Comic Relief and Christian Aid. 2.1. Oxfam The Oxford Committee for Famine Relief (OXFAM) was set up in 1942 as a result of the problems created by the Nazi occupation of Greece, in which relief was sent to those that needed it most (http://www.oxfam.co.uk/about_us/history/index.htm). Its company objective and philosophy is to be a development, relief, fundraising and campaigning organisation dedicated to finding lasting solutions to suffering and poverty around the world (Harris, 2003 - Lecture 11).

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  22. Business Studies What are functional areas

    Discrimination * There can be many types of discrimination, e.g. Sex, Race, Disability, and the Employment Rights Act. * The first example of discrimination can be Sexual Discrimination. This can be if Schuh were advertising a job and a male and female both had the same qualifications and education when applying, and Schuh were to selectively favor one gender over the other. * Another example of discrimination can be Racial Discrimination, this could be the fact of someone not employing or treating someone differently because of their race or religious background.

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  23. people in business

    For more information and evidence that the types of payment that can be paid with PayPoint please refer to appendix 13. Primary market research Primary market research is information that is collected directly form the source. Theses are surveys, observation, consumer and test marketing. The business wants customers to have the best quality service and good quality products. Customer needs is one of the marketing used at Khera Doaba stores, their mission is to represent the higher service within their area.

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  24. tesco aims and objectives

    This is a loyalty card which gives customers free coupons to spend in stores and this is a huge attraction for the public. People enjoy the benefits of these vouchers because these are for the products the customers purchase regularly. Tesco ensure they are keeping their customers happy by giving them a variety of goods they also provide them with special offers. Tesco diversified into non-food products, online shopping, club card, low prices and household items which customers require all these things.

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  25. Business Studies(Setting up your own business)

    Although I shouldn't have a problem with immediate competition, the competition from Hanley (a neighbouring town) would be a threat to my business. Hanley has popular caf�s such as Starbucks, Costa Coffee, Caf� Nero and La Pasteria and with it only being a ten minute drive away people may decide to go there instead of coming to a little caf� in Werrington. Positioning of my business is very important. I would like to set up my business next to the post office.

    • Word count: 7552

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