Business Ownership
Business Ownership There are several different types of business ownerships. Depending on the type of ownership, the owners have different responsibilities and involvement in a business. One aspect of this is who bares the business risk and whether the owners have limited or unlimited liabilities. Different types of owners are: * Sole trader * Partnerships * Co-operatives * Franchise * Public sector * Company - Private Limited Company - Public Limited Company Sole Trader There are many businesses in the UK which are sole traders. The owner has complete control of the business, and is totally responsible for its success or failure. Running your own is business in extremely hard work because you working on your own. The risks are great, but so are the rewards in job satisfaction. Advantage There are many advantages of a sole trader and the main one is that the owner keeps all the profits. Though the owner must save enough money to pay tax, interest charges on loans and Vat. It is simple and inexpensive to set up as sole traders as start up costs are usually low. However, before starting your own business you must notify the income tax authorise and the department of social security, as you will be taxed and will pay self employed national insurance contributions. The business will be very flexible because if the business is not profitable, the owner has the choice
Business Report
Report To: Donald Powell Title: What business should Donald set up? Introduction: I am a student from Hazelwick School currently studying GCSE Business Studies. A family friend, Donald Powell, has decided to set up a local retail business using his redundancy payment of £10 000. I have been asked to advise Donald on: - What type of store should he open - What products he should sell in his retail outlet - In which town should he locate his store - Where in the chosen town should he locate his store - What factors he should consider in locating his retail outlet - How should he promote the store - What type of business ownership would be most suitable for the new business - What sources of help are available beyond what I can offer Action Taken: In order to complete my report I will be asking 20 local residents of Crawley to fill out a questionnaire. I will be using Microsoft Excel to produce a spreadsheet to make graphs and charts. Also, I will use Microsoft Word in order to produce the report. I will also be asking the teacher for advice, using internet research and using text books to complete my report too. Findings: Q1. What gender are you? Table1 GENDER Female Female Male Male Male Female Male Male Female Male Female Female Female Male Male Female Male Male Female Male Q2. What age are you? Table1 AGE Under 16 41-50 21-30
Aims & Objectives
Introduction In this report I will define what is meant by aims and objectives. I will also relate this to the businesses I am studying which are Tesco and Chester Zoo. Business Aims An aim is a list of things that a business wants to achieve e.g. making profit, being environmentally friendly. An objective is the targets that a business sets itself to check it is going to achieve its aims. At the end of secondary school I want to leave with at least 5 A*-C grades including Maths, English and science. This is an Aim. In order to achieve this aim I am going to try hard and complete all homework given to me, and also come to school all of the time, these are my objectives. Tesco All businesses have similar Aims and Objectives. Example: * Survival is continuing to be in business, even cope in hard times like when the recession takes place. All businesses need to survive first, in order to make profits. Tesco not only specializes in food it also specializes in different areas like clothes, entertainment and insurance etc. So if a customer stops buying food from Tesco it will still be able to make profits by selling clothes. * Profit is probably the most common and the most important objective. Tesco cannot survive for long unless it covers all of its costs. Tesco can only make profit if they sell its products or services for more than the price they got it from. *
Organisational Structures and Job Roles at Richer Sounds.
ORGANISATIONAL STRUCTURES AND JOB ROLES Businesses such as Richer Sounds use Organisation structures to illustrate their business activities because it shows who is in power (authority) and shows who controls the business. The communication in theory in the hierarchy structures goes in different directions i.e. when information going down is often decisions made by the senior staff - information going up is collected by the lower level staff often feedback from the customers. This information is used to improve the business. The positioning of the job roles are different based on skills and the difference in pay. Examples of the different job roles are: - * The main duties of the manager is making and planning decisions. * The duties of the deputy are to assist in decisions and plans of the organisation. * The duties of the supervisor are to supervise the ideas of the company. * The sales assistance is at the bottom because they met the needs of the people and the come face to face with the customers and they make the profit and loss of the company. The senior staffs give the junior staff their tasks and duties and are responsible for them on a day to day basis. The junior staff report to the senior staff - this relationship is called the chain of command and can be seen in the diagram above. STAKEHOLDERS AT
A Business Start-up Report.
A Business Start-up Report By Martin Crangle Table of Contents Introduction . Private Limited Company .1. What is a Private Limited Company? .2. Limited liability .3. Members .4. Address .5. Contractual capacity .6. Criminal liability .7. Shares .8. Dissolution of a Private Limited Company .8.1. Voluntary winding up .8.2. Compulsory winding up .9. Summary of a Private Limited Company 2. Partnerships 2.1. What is a partnership? 2.2. The Partnership Act 1890 2.3. Agency 2.4. Liability in contracts 2.5. Liability in torts 2.6. Liability by holding out 2.7. Unlimited liability 2.8. Limited Partnerships 2.9. Limited Liability Partnerships 2.10.Dissolution of a Partnership 2.11.Summary of a Partnership 3. Documents required 3.1. Memorandum of Association 3.2. Articles of Association 3.3. Form 10 3.4. Form 12 3.5. Deed of Partnership 3.6. Passing off 4. Legal Rules Effecting management of a Private Limited Company 4.1. Directors of a Private Limited Company 4.1.1. Fiduciary duties 4.1.2. Duty of skill and care 4.1.3. Duties to outsiders 4.1.4. Statutory duties 4.1.5. Duties to employees 4.1.6. Duties to shareholders 4.1.7. Duties to creditors 4.2. Board Meetings 4.3. Debentures 5. Legal Rules Effecting management of a Partnership 5.1. Remuneration 5.2. Disputes 5.3. Financial records 5.4. Removal of a partner 5.5. The duty of good
task 2 scenario
My chosen careers and 3 chosen advertisements I choose my career in manufacturing sector and these are the following areas I'm interested in- Production Planner Agency: BMW UK Job Location: Hartlepool, Cleveland Salary: £21,000 - £25,000 per annum Job Type: Permanent Date: 08 Feb Applications: 20 Ref: 14802206 Job Working on a day shift pattern with an early finish on a Friday, this vacancy has arisen due to internal promotion through continued growth. Duties are as follows: To generate and issue production plans to agreed deadlines. This will include: Weekly Output Plan Weekly Input Plan Returns / Rework Plan This plan should be agreed and 'sign-off' with PUM. Measure performance to plans issued. Establish rolling 3 month forecast for each specific cell. Attend and contribute to daily morning meeting. Do regular cell 'walk through' to assess product movement. Liase with Production supervision to establish 24hr plan. Have a close link with Customer Services to establish demand issues. Work with inventory control for raw material supplier related issues. Liase with Technical dept. regarding BOM, tooling, labelling and specification issues. APQP. Attend and contribute to Monthly Operation Reviews. Experience Required Solid background in production or materials planning within manufacturing. Must be able to use Microsoft
I am planning to open an Italian restaurant which will be located in Ilford. The business will be owned and operated by me. My goals
Introduction I am planning to open an Italian restaurant which will be located in Ilford. The business will be owned and operated by me. My goals are to combine my skills in developing an up market, price competitive restaurant catering for 18 - 35 year old males and females. The restaurant will be focused on meeting customer's needs, which will ensure steady repeat and referral of the business. In my first year of business, I will work on a rented building. There are many reasons why I am opening my own business. Starting with the fundamentals, I have a strong belief that to be in business you need to have a passion and interest, which can be translated into commitment and dedication to the success of the business. My primary reasons for starting my own business are: * To be my own boss and take full responsibilities for my decisions * To support my lifestyle financially * To be challenged in the work place and build a successful business I can take pride in * To provide a quality service to my existing and new clientele in a relaxing environment Sole Trader Sole trader is a person who sets up a business by themselves. As a Sole trader the owner himself is responsible for every action made and also keeps all of the profit. This could be a newsagent's shop, for example. Individuals, who provide a specialist service like hairdressers, plumbers or photographers, are
J Sainsbury
J Sainsbury TASK 1 J Sainsbury's plc is a leading UK food retailer with interests in financial services. It consists of Sainsbury's Supermarkets, Sainsbury's local, bells Stores, Jacksons Stores and JB Beaumont, Sainsbury's Online and Sainsbury's bank. It employs 148,000 people and has a total of 788 across the UK Their objectives are simple; to serve customers well and thereby provide shareholders with good, sustainable financial returns. They aim to ensure all colleagues have opportunities to develop their abilities and are rewarded for their contribution to the success of the business. Their policy is to work with all of their suppliers fairly, recognising the mutual benefit of satisfying customers' needs. They also aim to fulfill their responsibilities to the communities and environments in which we operate Aims and Objectives Aims At Sainsbury's we will deliver an ever improving quality shopping experience for our customers with great product at fair prices. We aim to exceed customer expectations for healthy, safe, fresh and tasty food making their lives easier everyday. Objectives Getting better every day Great service drives sales Individual responsibility team delivery Keep it simple Respect for the individual Treat every £ as your own Business Priorities GOAL AND VALUES Making Sainsbury's great again Our goal At Sainsbury's we will deliver an
Business Process Management
Business Process Management Introduction: Process mapping is defined as "describing processes in terms of how the activities within the process relate to each other." (Slack et al, 2007, pg. 102). The group decided to map the process of stocking up shelves in a supermarket and opening a new bank account. The speed and efficiency of how these two processes occur can bring substantial value to customers and thereby give the company a competitive advantage. This potential success is recognised from analysing process maps, which is one significant advantage of implementing them in businesses. Process mapping helps establish goals and the standard level operations should run at in a business. By employing this strategy, managers can gain a greater understanding of what the company is and what it stands for and forecast what is needed to become successful. This will allow greater productivity and output and lower costs. The process of stocking up shelves in a supermarket: The aims of the supermarket when they are planning to stock up the shelves are to ensure that they have enough of a product to meet customer demand. This is possibly the most important factor in the process as they want the customer to have an enjoyable experience whilst shopping and to have faith in the supermarket that they will be able to enter and buy the exact product that they went in for. The
Business start up with the help of the Prince's Trust.
HSBC Key features and benefits for Flexi Loan > Borrow money up to your fixed borrowing limit at any time > You can borrow from £500 to £5,000, with flexible repayment periods. > Choose how much to pay back each month - from 4% to 10% of your limit. > You can make lump sum reductions at any time with no penalties. > Good interest rates. > If you don't use your Flexi Loan, you don't pay anything. > Our affordable Flexi Loan Protection Plan covers your repayments if you are unable to work in the event of accident, sickness or involuntary unemployment. > If you were to die during the loan term, the outstanding amount would be repaid in full (less any arrears). Flexi Loan APR 14.8% Prince's trust With start-up support from The Prince's Trust, you could get:- > a low interest loan of up to £4,000 for a sole trader, or up to £5,000 for a partnership (the average loan is between £2,000 and £3,000 but varies regionally) > a grant of up to £1,500 in special circumstances > a test marketing grant of up to £250 > Ongoing business support and specialist advice such as our free Legal Helpline. > Ongoing advice from a volunteer business mentor > Access to a wide range of products and services, free or at discounts Family and Friends These people can help me with buy borrowing money and not charging any interest, if they like my idea we could form a
