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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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  1. coping with change

    * Market: The sales might go down because of bad publicity or new opportunities could be brought up of some other changes that happen. * Nature of Activities: Most of the changes that happen bring about slight alterations in the nature of business, but huge changes can completely change the nature of business, because of the new changes that businesses make. Everything that happens inside and outside a business affects the business in any way, because there will be a lot of changes.

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  2. Progress Report for Emni

    Analysis What next The profit Target for the first year of training was not achieved, because of the summer holidays. People are going away to others countries, and sometimes the weather is not that good and there's the credit crunch. Winter Summer Every organization sets Targets to give them a sense of direction to where they are in the industries. Emni has to own targets to monitor their progress. It appears that Emni was over ambitious because the sales-which are relatively high when considering that Emni is a new restaurant and most people would come to the restaurants when there, are sales.

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  3. 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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  4. Free essay

    business sectors

    This means that they take the raw materials and make them into finished items. Types of industry in the secondary sector are: * Food and drink - processing raw foodstuffs, such as making wheat into flour. * Manufacturing cars such Jaguar, Rolls Royce, Aston Martin and Bentley * Building Many centuries ago a lot of these types of industry used simple tools, then during the Industrial Revolution mechanical tools were invented to make life easier. Nowadays manufacturing processes are often controlled by computers and use robots.

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  5. BMW Functional Areas

    Also it prepares BMW accounts for the Inland Revenue, which are the financial records of BMW. The reason they prepare the accounts is for the government to calculate the amount of tax BMW needs to pay. The finance department at BMW uses ICT to carry out the following jobs. Which are to calculate the income and expenditure of BMW, by using ICT packages like Microsoft excel or a calculator. They use ICT packages like Microsoft excel to prepare the company accounts of BMW.

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  6. 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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  7. The four ps

    Competition - This is a type of pricing where all businesses follow each other businesses movements. Most of the time NEXT prices are lowered so the rivals are caught unaware and surprised by the actions. This hands a big boost to NEXT as when this happens it widens out the customer base and can attract more customers who usually tend to shop at another store such as Marks & Spencers. 2. Special offers - This is basically a mark down on prices for a sale that probably occurs every time the season changes (Summer to Winter).

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  8. Unit 8: Business Online How to Implement a Website

    So I personally would recommend that you become connected to the internet through a broadband connection. You will then need a domain name, which is the address of your website, for example, bbc.co.uk. Your domain name must be unique; you can register for a domain name online through a website. You can register a domain name at http://www.nic.com/. There are different types of domain names; you can have it ending in, .com, .co.uk, .org, .net, etc. Once you have filled out a form the domain registration will take between 3-7 days to process. After your domain name registration is complete, you must start to think about what your website address will be, you will also have

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  9. BTEC Business Unit 8: Business Online: Staffing, Financial & Distribution Issues A Business Organisation Operating Online Should Consider

    Lack of Personal Contact with Customers Once your website is up and running and you have started trading online, most of your staff will realise that they have less personal with contact with customers. The majority of customers will contact the business through e-mail or alternatively call the call centre for help. As a result, this may please or upset staff. Unfamiliarity with Technology It is essential once you have your site operating, that you have excellent staff that knows what they are doing!

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  10. BTEC Business Unit 8: Business Online: The Benefits of Clowning Around Marketing Their Products and Services Online

    A website can never close, so therefore orders can be received at any time, day or night. This will lead to the business generating more revenue, than if they operated in a shop which was only open 9-5, 5 days a week, and shut on public holidays. The website can also be viewed anywhere in the world. This will benefit the business as they will become well known amongst people anywhere in the world, even in the most unlikely countries which are very poor. Clowning Around is a small business at the moment, but by having a website they can compete with larger companies, only if their website is very appealing and is easy to navigate.

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  11. In this section of my coursework I am going to explain carefully why is legislation necessary when goods are sold and what the following legislations to personnel selling,

    Traders are required to sell products of acceptable quality. If businesses and consumers find out or see that the products to not mach that acceptable requirement the can take the product back and get their money back. Consumer Credit Act 1974 The consumer credit Act 1974 gives out rules to lenders that lend money of about 25,000 or less to customers. The consumer protection Act 1974 is the consumer protection legislation in the United Kingdom. If a customer did not make a deal over the phone and did not make an agreement at the sellers business then the customer would have to have the right to cancel it.

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  12. I am going to explain what is the purpose of a sales personnel in the business organization John Lewis of my choice, identify a list of the skills I consider necessary for a sales personnel to have

    In a business like John Lewis it is very important for them to have sales personnel. It is very important for John Lewis to have a sales personnel because the sales personnel helps the business increase its sales, provides information and services to customers, develop customer care and gather feed back. Sales personnel for the business organization in John Lewis would require a lot of skills, these skills include good communicational skills, motivated to sell skills, the ability to close sales skills, promote good selling techniques, keeping up to date, good sales habits, good persuasive skills and the ability to cope with serving more than one customer.

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  13. 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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  14. 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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  15. online

    They aims are as well to attract new customers by trying new things and to increase their market share. There aims are also to make a profit and to keep all their shareholders and stakeholders as happy and as satisfied as possible and to pay all the dividends. Tesco's core aim is: 'Our Core Purpose and Values define the way we do business' Objectives: An objectives or goal is a target that must be achieved in order to realise the stated aim. It tends to be a medium to long term and set in order to coordinate business activity, guides the actions.

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  16. 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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  17. 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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  18. External influences

    to get to than another * Other Services- Fr example home insurance and car insurance maybe looked at by competitors * Advertisement- For example if one shop is advertising more of its products or services than another A range of college competitors for Chelmsford College include Braintree, Southend, Writtle, and Colchester. They also compete with sixth form at local schools. They would compete for location, transport and a range of courses. A range of competitors for Tesco include Morrisons, Sainsbury's, Aldi, Lidl, Asda, Iceland, Waitrose, Somerfield and Marks & Spencers.

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  19. Ownership and location

    * Partnerships * Public Limited Companies (PLC) In the last twenty years the government has lost a lot of their businesses through being bought by someone. There are very few left of the government owned for instance the royal mail. Business Location Location is a critical factor if the business wants to succeed. The internet has had an impact on business locations because it may mean you can locate anywhere. But it all depends on what sort of operations the business needs to do.

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  20. I am going to be informing you about the different types of stakeholders there are, and the stakeholders which have an influence on the way Tesco is run.

    Stakeholders Community As a stakeholder the community is an important factor for Tesco. Tesco would want their local community on their side but if they weren't they could have meetings, form pressure groups which then could get the government involved. Tesco would listen to pressure groups because they would not want bad publicity. If Tesco wanted to start building in a local community the pressure groups would come in again and would try and stop it for as long as they could if they didn't want it there. The pressure groups could involve owners of smaller shops around the area, environmentalists and local residents.

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  21. Business Coursework

    This will save more money for more profit or better expenses. Threats My Threat for this is there are other existing shops in this area that would give me competition. Other threats for my business are the EU quoting that Chinese imports are Questionnaire Personal Details Gender: Male Female Age Group: U16 17-24 Occupation: Student Office/Retail Professional Self-Employed 1. What brand of cloths do you like? Nike Rockport Reebok Armani Lacoste Evisu other 2. How much would you spend on designer cloths? �10 �50 �100 �150 + 3. What cards would you use?

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  22. Developing customer relations

    Some examples of internal customers are: Supervisor An employee who has the power to give instructions and/or orders to his/her subordinates and would be responsible for the work his/her subordinates do is a supervisor. A supervisor would need to know what exactly his/her subordinates do and the instruction and orders given to them.

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  23. The Interaction of Functional Areas

    This also helps the other function to work better since the employee's will be trained and motivated. * Human resource interacts with all the other functions by training and motivating the employee's. This will help the business since the employee's will be hard working and professional. * Finance interacts with human resource because human resource can be told that no more staff can be replaced or hired for a while. This helps to balance the budget used on employees. * Finance works with marketing to check the price of the promotions.

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  24. The Corporation

    I completely agree with the producers' position on the problem with corporations and feel even more strongly about it from the ways they depicted the problem in this film. Corporations began about 150 years ago as short-lived organizations made basically to get the task at hand completed and once the task was finished so was the corporation. As the 19th century approached corporations changed completely. Corporations have been deemed "legal persons" which gives them all the same civil rights as a citizen.

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  25. the Use of ICT in Business

    Using Word was very efficient for my business because I could get work done quickly and easily, and I could also change formats when required; for example making font sizes bigger to emphasise sections or underlining important areas to make them more noticeable. Within my business I used Word on every assignment at least once, especially when creating reports and analysis for example on my cash flow forecast analysis. It allows me to complete reviews on work easily allowing me to see what I a have done, and it is also useful when other people look at them as they

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