business studies- managing your business
`1`` I have chosen this location for my business as it is best suited to what I want catered for. The reason why this is best suited to me is that is on a main high street. This is beneficial as it has lots of other facilities to offer. Some of these include other clothes shops (this is good as it gives people a wider choice so they are more likely to go there if they have a choice), they have a few different supermarkets (this is good as potential buyers don't have to go out of their way to go to my shop) this is good as the they can do lots of things all in one time and they have lots of café's, bars and restaurants(this is good as then it gives a more cosmopolitan feel to the grown up and higher class people that my business is aiming for.) So in conclusion the best asset for its location is the key positioning. Why I want to be a sole trader * The reason why I have chosen to be a sole trader is that it is best suited to what I want to do with my business. The reason why it is best suited to what I want to do is that I will want to change my business regally to keep it up tempo and keep it up to date so then people wont get bored. The reason why this is good to be a sole trader is as I may not always want what the other partner wants so then my business will not end up going in the direction that I want it to go in . * The next reason why I want to be a sole trader
Woolworths - business introduction
Introduction The business I have chosen is Woolworths Group Plc. I have chosen this company mainly because of its very active performance over the past decade. The English branch of the originally Pennsylvania founded Woolworths stores, F W Woolworth & Co, Ltd was founded by Frank Woolworth in Liverpool, England in 1909. The British branch of the Woolworths chain started with two men; Frank Woolworth who traveled to England from America in 1890. Frank himself claimed he had traced his family back to the 'Wooley' family of Cambridgeshire. Frank fell in love with England and its culture and soon aspired to bring the Woolworths name to Europe. When at a Stoke on Trent train station, Frank Woolworth met a young freight clerk, William Lawrence Stephenson who deeply impressed Frank with his 'can-do' attitude. Frank invited William several years later to be the director of his company in which he accepted. Frank and William started of the business with one store which was situated in Liverpool, because of its trading routes with the US and it being the second largest city in the British Empire. During the 1980s, management rationalized the offer into clearly defined categories: entertainment, home, kids (toys and clothing) and confectionery. Woolworths Group plc began trading as a listed company on the London Stock Exchange on 28 August 2001 after its demerger from Kingfisher plc.
Attaullah Mirlashari 11i Applied Business GCSE Unit 2 People in Business Part 1 Stakeholders Introduction In this following unit I shall be investigating people in business. The business I will be looking at will be Richer Sounds. Richer Sounds is an electronic retailer who specialise in selling all kinds of electronic goods from plasmas to DVD players. Richer Sounds is a PLC but unlike other Public Limited Companies, the majority shareholder who also created the business Julian Richer decided not to put the business on the stock exchange therefore members of the public cannot buy shares in Richer Sounds. Task 1 In this part of the unit I will be discussing the stakeholders of Richer Sounds and how they are affected by the business. A stakeholder is a person or organisation who has an interest in a business. This means that the business has some impact on their lives. Here is a list of the following stakeholders of Richer Sounds: * Shareholders * Employees * Customers * Suppliers * Managers * Government * Financiers * Competitors * Local Community * Pressure Groups There are two types of stakeholders; internal and external. Internal stakeholders are people who are part of a business, including the owners themselves, managers and other employees. Internal stakeholders are directly affected by the activities of the business. External stakeholders in a
My assignment will be based on two businesses, a sole trader and a public limited company.
BUSINESS COURSEWORK Introduction My assignment will be based on two businesses, a sole trader and a public limited company. The sole trader I am going to be investigating is Errol Anderson who owns a business repairing and servicing cars. The business in named as 'Errol Anderson Motors'. The public limited company is called as J-Sainsbury, which is a well-established company with a lot of shareholders and quite high of a share price. Sole Trader What is a sole trader? A sole trader is someone who has set up in business. The sole trader owns, controls his/her business. It is also quite straightforward is set up. Errol Anderson is a sole trader, he is self-employed because he owns, runs and controls a small local garage. Sometime ago this garage used to belong to Mr.Turner and Errol used to work here. Mr.Turner taught Errol everything he needs to know about owning a garage and he trusted Errol. In 1998, Mr.Turner told Errol hat he had to leave to Scotland and he couldn't run the business any more. Mr.Turner retired and Errol bought the business of Mr.Turner. Capital In order to purchase the business he required capital (money). Therefore Errol got money from some places and people. He spoke to his family and they were willing to lend him some money. Mr.Turner was willing to sell Errol all the tools and equipment in the garage at a reasonable price and Mr.Turner agreed
The ownership of business.
The ownership of business Private Business Sole Trader This is a person who decides to set up the business on her/his behalf. There mite be other people who work for the owner but the business to be quite small, if, quite possibly, very profitable. An example is a Chinese Takeaway or a Fish and chip shop. Partnership From 2 -20 people who get together to run a business. They will probably employ other people to work for them. But ownership belongs to the partners. A firm of solicitors ,architects or doctors is a good example. Private Limited Company ( PLC ) These companies may start as family running affairs and develop. The reference to 'limited' means the extent to which owners are liable for the financial affairs of the company if they owe money or crease trading and have to pay off debts. If 1000 shares are available for issues and Henry Smith has Three of them he is responsible for three thousandths, 0.3%, of the debts the company owes. As a sole trader it would have been 100% and as partner receives which makes the proportion of liability for debts. Public Limited companies PLC or plc follows the trading name, as in Lloyds TSB plc. These tend to be large organization which has shares in vast numbers. These shares have value which quoted on the Stock Exchange. Franchise These are business run using the trading name of a much larger company. For instance
business (assignment P2 (Prim,Sec&tertiary))
Primary Secondary & Tertiary Sectors of Industry (P2) Introduction In this assignment I will describe the primary, secondary and tertiary sectors of industry. I will also identify two organizations in each sector and describe their ownership, purpose, scale and size. Primary Sector A primary sector is a part of the economy where business grows, collect, mine or cut raw materials. The key area of employment in this sector is extracting raw materials, Hunting, Coal Mining, and Farming. Hunting: is when a group of people intend to go to a forest to catch animals such as goats, sheep's, birds etc; in order to process the food for the secondary sector. Coal Mining: people who works in a coal mine removing coal from the ground, coal is used to fossil fuel used to generate power; electricity, fuel, diesel and oil Farming: in other terms 'agriculture', this is done by planting goods in healthy field/growing plants such as crops. Bellshill farm Bellshill farm had been founded in 1997, where they first started farming, Bellshill is a mixed farm of 136ha (338 acres), the main enterprises are winter crops for the production of both animal and human goods. Their aim is to provide goods, such as, poultry and crops at profit .Bellshill is private limited company in the private sector; it is a traditional mixed family farm, owned by members of the family. Their size of business
business task motivation
Task 2 Motivation If you asked ten different people you would properly get ten different answers. Starting at the most basic level, we all need food, shelter, water, warmth and clothing. To provide these we need money, and to earn money we have to go to work. One I have achieved these basic needs; we then begin to have other needs for working. Many people need to feel safe and secure at work, they want to know they have a job that will pay a regular wage that offers them a safe working environment and a job that is secure. Some people still look for a job for life, but this is increasingly unrealistic these days. Advances in technology continue to replace job, which at one time relied on human resources, and at the same time create new jobs that may need different skills. Some people want self-esteem from work: They want status or power. They want their job to give them this prestige. Some people need friendship at work or, more importantly, to feel part of the team. They enjoy working with other people. Some people work to gain the opportunity to reach there fully potential: They maybe created, like Lesley, producing her silk work, or have certain skills such as being at managing people, that they can use in there job or work. So, although people want different things from work, they can be put into the general categories: Basic physical needs, Safety needs,
For my GCSE business studies coursework I am going to create a business. The name of my business will be "paradise palace" as I am creating a beauty and tanning salon
Business coursework introduction For my GCSE business studies coursework I am going to create a business. The name of my business will be "paradise palace" as I am creating a beauty and tanning salon. There are two types of business organisations that I could create they are sole trader and partnership. The first type of business organisation tat I could choose is sole trader. This is a person who trades by himself/herself without the use of a company structure or partners and bears alone full responsibility for the actions of the business. Also a Sole proprietorship is a business, which legally has no separate existence from its owner. Hence, the limitations of liability enjoyed by a corporation do not apply. As a result, the owners are personally liable for the firm's debts, and may have to pay them out of their own pocket. This is called unlimited liability. Unlimited liability is where owners are personally liable fro all debts. It is a "sole" proprietor in the sense that the owner has no partners. In some jurisdictions a business owned by a husband and wife jointly can still be considered a sole proprietorship, in others it would be considered a type of partnership. The advantages of a sole trader are: . The firms are usually small which means they're easier to set up. 2. Generally, only a small amount of capital (money or assets) needs to be invested, which
motivation at Asda
Introduction This report is going to focus on the topic of motivation in Asda supermarkets, and the effects motivation has on employees, particularly those based in the fore-front. Many of the jobs in supermarkets involve high levels of customer interaction, especially at the check-out counters, and so it is important for managers to motivate their employees so they can provide customers with quality service. For Asda, this is especially important as they claim that they are dedicated to their customers and are always happy to help, and having bored and miserable employees contradicts their statement, which might result in a loss of customers. Asda is the UK's second largest supermarket, with 356 stores nationwide, and employing around 160,000 people (www.about-asda.co.uk). At the end of 2008, the supermarket had a turnover of over £16.5 billion, an increase of 6.6% from the previous year. This rapid increase is due to Asda attracting more customers with its lower prices on goods than most competitors, and the surge of people during the Christmas trading period. Asda prides itself for being cheaper than its competitors and helping people save money everyday, especially in the current economic recession. In 1999, Wal-Mart (an American-based company and the world's biggest retailer) merged with Asda, for £6.72 billion (www.bbc.co.uk). This report will focus on the Asda
Explain the main differences between a Sole Trader, a Limited Company and a Public Limited Company, in terms of accounting and reporting requirements
Explain the main differences between a Sole Trader, a Limited Company and a Public Limited Company, in terms of accounting and reporting requirements. Businesses can be classified by two types in general - Unincorporated firms and Incorporated firms. An unincorporated firm is one that is not registered with Companies House, who are the government registrar of companies, as a business and there are two main types - sole trader and partnership. A sole trader is the simplest form of business type. It is the business which is owned by only one person. Partnership is, in essence, like a sole trader but with the ownership shared between partners who can 2 or more. An incorporated firm is a firm that a registered firm at Companies House. In this category, there are two types - a private limited firm and a public limited firm. A private limited company is one where the liability is limited. To form and run a limited company it needs 1 or more owners and shareholders, who own at least one share each, and it has to file Memorandum & Articles of Association and prepare annual accounts which are that the company should summit to Companies House. Private limited companies can range significantly in size. They may consist of a small family based business or a big group of companies. A public limited company is like a private limited company. It has some regulations to form and run the