effective cashflow management
Task 3 D1 It is now 12 months since Jane started the business. During the year she has had time to reflect on month to month trading. She has asked you as a friend to write her a report outlining the following: . What courses of action could be introduced to control the business's cash flow most effectively? 2. How will this contribute to the overall effective performance of the business operation and ultimately maximise cash flow. CASH FLOW FORECAST "Cash flow forecasting means preparing a cash flow statement for the future with predicted inflows and outflows." (Source: BTEC First Business) A business often prepares a cash flow forecast showing the money likely to flow into and out of the business in a given period. Forecasts are based on past experience of the business. Cash flow forecast include revenue such as cash sales, credit sales, loans and expenditures like wages, insurance, loan payment, etc. BUDGETARY CONTROL "A Budgetary control is a system of creating budgets, monitoring progress and taking appropriate action to achieve budgeted performance." (Source: www.brunswickis.co.uk) Budgetary control is a process of monitoring and analysing financial control within organisation. Budget "A budget is a plan, which is set out in numbers. It sets out figures that an organisation or company hopes to achieve in the future." (Source: THE TIMES 100) Budget is
Customer needs - Sainsbury.
Customer needs A range of different products and services Products: - Sainsbury has many ranges of products from groceries to toiletries. Sainsbury always try and make there products value for money. Check out queues: - Sainsbury always aim to minimise waiting time at the checkouts. Colleges of Sainsbury are multi skilled at busy times they are able to call on more colleagues to operate tills. Elderly people: Sainsbury realise that elderly people like to retain their independence by doing their own shopping. Sainsbury always put chairs for their older customers to rest. Employees at Sainsbury help elderly people pack their purchases and help them take them to their cars. Facilities for disabled people: - Sainsbury ensure that disabled customers are not offered a low standard of service. > They have disability parking spaces > Wheelchairs and specially adapted trolleys are available in every store and electric scooters in some. > They carry out disability audits and are currently installing hearing loops in stores. > They support the Shop Mobility scheme, where disabled people travel to a shopping centre by bus where they borrow wheelchairs for the day, giving them independence. > They were voted the best corporate chain store for their commitment to providing better service to our deaf blind customers at the Deaf blind Friendly Corporate Awards 2001. > They won
Tesco is the most successful supermarket chain in UK because of its well-known good services and product quality. To maintain this loyalty, they go greater lengths to improve and sustain quality.
BUSSINESS AT WORK COURSEWORK E Tesco is the most successful supermarket chain in UK because of its well-known good services and product quality. To maintain this loyalty, they go greater lengths to improve and sustain quality. Tesco define quality assurance and quality control as an ongoing approach to providing 100% customer satisfaction by providing error free, waste free and accident free products and services. To establish this quality process, each functions management staff attends meetings every day on total quality management and on leadership of quality between functions to achieve objectives. Within the company, a quality improvement team meets weekly to lead and monitor the quality process. The organisation as a whole has principles that it operates on to ensure quality mainly: - * A must to meet customer requirements and satisfaction all the time * Prevention of defects and errors of any kind * Measurements to verify the processes are meeting requirements as intended Improving quality in products is done in many ways. Starting with products produced by Tesco itself to meet their customer needs, products are inspected and tested at various points during production. Staff are highly trained to maintain quality and also keep personal hygiene so that they don't contaminate the products with germs. The products also have expiry dates which also monitored so
Birmingham International Airport - Environmental Contraints
Environmental Constraints During the past decade or so, people have been made more aware of the effects of flying, basically what it does to the environment when you use your car, TV computers etc. As a result, the public have demanded, along with the government, that we rapidly cut down the emissions that are provided by the airports in a bid to save the Earth. The government introduced a new set of rules and regulations that every business has o abide by, and there are in place no only to help the businesses help the World, but to make sure that waste is not the irrelevantly dumped and ignored. As time goes on, the public are becoming more and more aware of the effects of Global Climate Change, and understand what will be of the planet over the next few decades. As a proof, over the last 5 years of so, recycling has increased dramatically, compared to what is has been, and there have been numerous protests about animal testing, which although a different matter, proves the fact that the public are indeed become more aware of the effects of the climate change and what they can do about it personally. Businesses are always trying to make it look like they are supporting the environment, and they will usually include references to something like, "we only use environmentally friendly fuel to power our businesses" to it places trust within them to the customers so they believe
Cigarettes are demerit goods which cause negative externalities. B
COMMENTARY COVERSHEET Economics commentary number: SL Number 4 Title of extract: K.C. to vote on smoke-free law Source of extract: http://www.ljworld.com/section/smoking/story/187733 Date of extract: Monday, November 15, 2004 Word count: 727 words Date the commentary was written: 22 Dec 2004 Sections of the syllabus to which the commentary relates: Section 2 Candidate name: Chen Xi Candidate number: Commentary Number 4 A market represents the private forces of demand and supply. Consumers aim to consume goods and services with lower prices and greater quantities while producers want to maximize their profits. A market diagram uses demand and supply curves to show the relationship between market demand and supply. These demand and supply curves are labeled as "private demand" and "private supply", that is, the private benefits and the private costs. But those private activities always affect others, both positively and negatively. Those positive and negative effects are not represented in the market model; they are external to the market, known as externalities1. There are two kinds of externalities: positive externalities and negative externalities.
What happened to the income of taxi drivers, and fares paid by consumers in East and West Berlinafter unification, given that living standards are much higher in West than in East Berlin. Assume the market for taxi cabs is competitive.
Essay Title: Before the collapse of communism, Berlin was a divided city. After the Berlin wall came down, movement between East and West became possible. What happened to the income of taxi drivers, and fares paid by consumers in East and West Berlin after unification, given that living standards are much higher in West than in East Berlin. Assume the market for taxi cabs is competitive. Before the collapse of communism, Berlin was a divided city. After the Berlin wall came down, Germany got reunited and the fall of the Berlin Wall leads to the absorption of a command economy by a free-market one, In this essay, I will analyse how the competitive market for taxi cabs and the income of taxi drivers has changed, given that living standards are much higher in west Berlin than in East Berlin. Perfect competition is a market structure where firms have no power to affect the price of the product. The price they face is determined by the interaction of demand and supply in the whole market. That is what we call 'price mechanism'. There are a lot of transactions between buyers and sellers in the market, individuals pursuing their own self-interest and aim to maximize utility; companies provide goods and services by the aim to make profits, each seeking their own interest. Price mechanism coordinate these transactions and in such a way to make everyone better off. Market
Measuring National Income
Measuring National Income Circular Flow of Income Model In the circular flow of income model there are two sectors: households and firms. Households are the ones who buy the country's output of both goods and services and own all of the economy's factors of production. They are the suppliers of these factors of productions and receive payment for supplying these factors to firms. Firms hire factors of production from households and use these factors to produce the country's output of goods and services. A table of the factors of production and the income received can be seen below. Factor of production (provided by households) Payment to the factor (provided by firms) Labour Wage Land Rent Capital Interest Entrepreneurship Profits This is the basis for the circular flow of income two-sector model. Households provide factors of production and in turn, receive income. They then buy these goods and services which have been produced by the firms. These products have been produced using the income received and in this way the income is circulating throughout the economy. Leakages and Injections However, households do not spend all of the income that they receive, as illustrated by the above diagram, which is simply a simplified model of an economy. Households are also able to save part of their income. Saving is the foregoing of current consumption to allow for
Business Activity & PLC
Business Activity Tesco specialises in food and drink as their core product and this helps them to concentrate in one major area. This also helps them purchase a large number of products in bulk and therefore gain huge discounts as they are benefiting from economies of scale. Tesco sells other types of products apart from breakfast cereals, toiletries and snacks. They do this because over the years they have realised that their customers want to do all their shopping under 1 roof rather than in 10 different shops. A few years ago Tesco decided to start selling other type of goods like foreign food, halal food, low G.I, organic and low fat food. Selling different types of products will benefit customers because they will be getting what they have in their normal diet but at cheaper prices. This shows that Tesco responds to the latest trends in the U.K., and thus satisfies everyone. The reason Tesco sells their products so cheap is because they buy them in bulk and gain low prices. Also selling products at low prices helps to gain customer loyalty which has helped the store a great deal, and helped them to gain huge profits. Tesco's main income is through food and drink but they sell other products as well. This diversification has helped the firm to raise £280 billion. Some of the items that are sold are clothes, household goods and electronics etc. Tesco aim their
Mcdonalds Training
McDonalds Training and Development Training and recruitment is one of the most important actions that must be performed by a business because they would always need employees and they must train them so that they should know what has to be done at work. If the employee recruited is not trained to use particular equipment it might result in minor or severe injuries or there might not be any work done at all. In McDonalds there are several training. Some of the main reasons why training is given to the employees is to ensure that they follow the health and safety rules, the work is efficient and fast and that the employees can carry out the tasks confidently. One of the purpose for training such as burger training would be that the employee learns how to make the burgers clean because if the employee doesn't wash his hands and touches those burgers then this might spread infection and the customer might sue the company. There are different types of training given to the employees at McDonalds. * Induction Training * On-Job Training * Off-Job Training * Job Rotation All these trainings take place at the workplace. Induction training is given when an employee starts to work at the workplace, this would include a tour of the work place so that the employee knows what is kept where. He/she would also be given training on how to use the equipments he has to work with.
What is positioning?
Introduction Positioning is one of the major steps in target marketing, the other two being market segmentation and targeting. Effective positioning is a must for clothing retailers to distinguish themselves from other competitors and to appeal to potential customers as well as maintaining brand loyalty, especially in the fashion industry where branding and perception of a company in the eyes of consumers calls the shots. This essay will explain what is positioning, followed by an overview of how positioning is applied in the high street fashion industry, using the example of international top market leader in high street clothing, Topshop. What is positioning? Positioning is the process of creating a certain perception, image, reputation, messages and offers of a company in the mind of customers or user groups (Gabbot, et.al., 2004). Consumers hold a set of feelings and impressions about a product and compare them with competing products (Kotter, et. al., 2007). These perceptions play a strong influence in the buyer decision-making process and have a direct impact on the companies involved. For example, consumers who are brand and image-conscious will avoid a store if they perceive it to only cater to the lower-end market. Therefore, marketers should ensure that the right marketing positioning strategies are applied to set a desirable image of the company in the minds of
