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
Aims and Objectives of businesses e.g Richards paints and Ikea
Activity 1 Task 1 - Controlled assignment- Investigating Business Reasons I chose Richards Paints I chose Richards Paints because it is a small, local business that manufactures and sells industrial paint and delivers paint direct to customers. Richards Paints is also a business to business and has a website that you can browse and visit the place and interview people in the organisation. It is also a small independent company operating from purpose built premises close to the Midlands motorway network. Affording excellent access to companies around the world. Another reason why I have chosen to investigate Richards Paints is because I wanted to compare the differences of a small, local business to a large worldwide business which has lots of stores across the world. Research and Planning I planned to carry out my research by having a face to face interview with someone from the business, visiting the place, looking at leaflets and brochures, looking up Richards Paints website to find any information or to see if they had any TV adverts. But at the end I carried out my research by having a face to face interview with Martyn Round who was from Richards Paints as he answered most of my questions, tries finding some leaflets or brochures but could not find any, but I managed to find information about the business on the internet on Richards Paints official website
Business Studies Shop
After considering all the different business ideas, I have come to conclusion and have decided to open a retail business. The name of my shop will be 'GAMEz'. The shops primary product will be computer games, but it will also sell game consoles and related accessories. I have chosen to open a game shop because technology is rapidly increasing and more people are taking an interested in gadgets. That is why I believe my shop has the potential to be very successful. I have decided that GAMEz will be located in the Fort Shopping Park in Birmingham. The Fort shopping Park is packed with major stores such as; WH Smith, River Island, JD Sports, Boots, Carphone Warehouse and many more. Basing my business here is a good idea because it is well positioned. I have no competition from other similar stores. The most important aim for a business in the public sector is to make a profit in order to survive. If a business does not make a profit it will go bankrupt and have to close down. If my business survives and there is a place in the market for my shop, I will increase the amount of profit my business makes by various methods such as raising prices and advertising my business. I would like my company to have unique features and be appealing to many. If my business becomes successful I will think of higher objectives like expanding the business and eventually becoming the biggest in
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.
Introduction The purpose of the unit for this year is to create our own business plan. We could either work individually or in a group. The reason for making and managing our own business is to show us how companies manage their finances and other resources. The business has put a lot of thought into what kind of trade it wanted to create as there are many factors that would have to come into consideration. We wanted to design a business that would be unique and have something different to offer. When creating the business we decided it needed to have a unique selling point so that customers would choose us rather than our competitors. The aims and objectives that have been set for the business need to be met. For example we need to think about how much money would need to come in each month to keep the business standing, and then we would need to reach that target. One of the main goals would be to expand the business so that it would become successful. We need to decide what form of ownership we would want for the business, and take into consideration what the good points and bad points would be for the chosen ownership. If we want to create a business we would need quite a large amount of money to help us start off then we would have to think about stakeholders and what input that they would have in the business, also how they would affect it. With a lot of research we
Multinational Companies and Fairtrade Evaluation.
My Research Evaluation The trading system in the UK is based on free trade and it is very unfair. MNC (Multinational Companies) such as Nike's headquarters are based on MEDCs (More Economically Developed Countries) such as UK, USA and their companies are based on LEDCs (Less Economically Developed Countries) such as Bangladesh. They treat their company workers very differently and unfairly by paying them very small amount of money. This sort of treatment is over looked by the WTO (World Trade Organisation). They have been portrayed by as the police of the trading system. But in recent years, they have received a large amount of criticism from the public and the media about favouring MEDCs. Most MNCs in the UK are based on the free agenda, but a few companies are based in the Fairtrade system. Some well known companies such as Body Shop, Starbucks and Cadbury's Dairy Milk have all gone fair-trade. This helps producers and farmers in LEDCs by paying them higher amount of money. This gives them opportunities to educate their children and live a better and easier life. Fairtrade is making itself heard, after Cadbury's chocolate switched their most popular chocolate bar, Dairy Milk to fair-trade. Other companies like Divine chocolate supported the fair-trade organisation. They are associated with the group Kuapa Kokoo. Other companies such as Primark have recently been
