Location factors for a business

Place Location: All businesses, whether they produce goods or service, have to decide where to locate. This can depend on the fact that the firm wants to be closer to its target audience or produce the goods at a location where it is cheapest, it can be also linked to the business environment and other reasons aspects of the business which would affect the location of the firm. Demography: This is were the size of the population and the changes in the population are taken into consideration and studied in depth. Many businesses, mainly businesses which are included in the service sector are influenced by the demographic factor. For example on the south coast of England, Bournemouth has the highest percentage of elderly people living there, and that is the highest population in UK of the elderly situated in one area. Si this attracts people to Bournemouth to retire for to main reasons which are its climate, and the services businesses have in offer therefore there are many businesses which specialise in providing the elderly community with goods and services best suited for that target audience. Seen as compulearn is also partly linked to the service sector it will be looking into demography because Compulearn also does services and thereby will need to look into the number of the population which in this case will be the population of Hounslow which is 212341, and it will

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Depreciation of fixed assets.

Depreciation Fixed assets are used again and again over a long period of time. During this time the value of many assets falls. This is called depreciation. Each accountants must work how much depreciation to allow each fixed assets. This can then be used in the balance sheet and profit and loss account. The balance sheet will show the book value the book value of assets. This is their original value minus depreciation. Depreciation is shown in the profit and loss account under expenses. This indicates that part of the original value is 'used up' each year. Eventually the entire value of the assets will appear as expenses, when the assets depreciate fully. This process of reducing the original value by the amount of depreciation is known as writing off. There are good reasons why a firm should allow for depreciation each year in its accounts-: * If it dose not, accounts will be inaccurate. If the original value of the assets were placed on the balance sheet this would overstate the value. Each value of the assets falls each year as they depreciate. * Fixed assets generate profit many years. It seems logical to write off the value of the assets over a whole period of time rather than when it is first bought. This matches the benefits from the assets more closely with

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Activities at the Marriott hotel. The way in which the Marriott ensures that they achieve guest satisfaction is by firstly having many rooms and different types of rooms.

Activities at the Marriott hotel The Marriott do many things to insure that they achieve their aims and objectives. By doing this it will insure that the Marriott make profit along the way. The way in which the Marriott ensures that they achieve guest satisfaction is by firstly having many rooms and different types of rooms. This ensures that when the customers come to the hotel they are guaranteed a room because there are so many and it also ensures that they get the room that they want (rooms that may be more expensive which come with things such as plasma TV's) The Marriott currently have 391 rooms, this is a increase from the year 2007, this shows us that the Marriott is improving their services in order to improve guest satisfaction at the hotel. The Marriott hotel also have different types of rooms, for example they will have the deluxe room for people that are not willing to pay a lot of money, the Marriott then have an executive room, this room is equipped with things such as wireless internet; it will be perfect for business customers. The last type of room that the Marriott has is called the presidential suite, this comes with all the luxuries that a customer will want and will be a lot pricier. By doing this it gives the customers a wide variety of things to choose from to suit the personal needs of each customer. Another way in which they can ensure that the

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Recruitment and training at Perrys Motor Company.

Perrys Recruitment One of the important tasks for the human resources function in a business is the recruitment and selection of the new employees, without the right employees the business wouldn't be able to run efficiently, serve its customers properly or make any profit for the company. The reason the Perrys may need to employ more workers is because of increased sales, a staff member may have left, a member of staff might have been promoted or a member of staff goes on temporary leave. All of these reasons may force the Perrys recruit new staff to keep the business going as normal. The process that the Perrys use to recruit new staff is a complex process and has many stages, the stages in the recruitment process are: * Identify vacancy * Write job description * Write person specification * Advertise the job * Send out application forms * Receive applications * Shortlist candidates * Interview * Select the best candidate * Make a job offer Advertising the vacancy There are number of ways that the Perrys advertise jobs, here are ways that they advertise their jobs. * The internet on their own website * Recruitment agencies * Newspaper * Jobcentre If the Perrys are looking for a regional manger they will advertise in regional newspapers. It is essential that they advertise the jobs in the right place to ensure that people see the advertisement.

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Economic Influence on a Business

Economic Influences Economic influence is when a business is affected in any way by the economical factors. Economic Factors are the main elements that affect financial matters of a business like tax, interest rates, banks and stock markets. There are different ways in which different economic factors can affect a business for example the taxation is one of the main factors that can affect a business, it can affect the business because they have to pay tax to the government on the energy they are using or they have to pay some profit that they make to the government as tax. Interest rates are charged on every loan that a business takes from the bank, this can affect a business because if they keep on borrowing the loan they would have to pay extra money back to the bank this can affect a business in making profit. Stock market is where the Longleat's stakeholders can buy shares and invest in business because they get a slice of ownership in the company, their company can be completely taken over. As a large business Longleat has to face a number of economical factors such as taxation, interest rates, labour. Stock markets is not one of the important factors faced by Longleat because Longleat is a private limited company and it would only give shares to the investors it selects. Factors such as tax are common in every business, Longleat has to pay tax to the government such

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Explain why the control of inflation is an important objective of government economic policy.

a) Explain why the control of inflation is an important objective of government economic policy. Although monetary policy can be used to affect many things, the main objective of monetary policy is the control of inflation. The target for inflation set by the government is 2.5%. Ever since the UK fell out of the Exchange Rate Mechanism (ERM) in September 1992, UK monetary policy has involved using interest rates to control the level of inflation. There are very close links between the rate of interest, the money supply and the exchange rate. At times when the UK has been tied to a fixed exchange rate system (like the Bretton Woods system after the Second World War, and, more recently, the ERM), both the rate of interest and the supply of money have to be adjusted to maintain the goal of the fixed exchange rate. When the UK was part of the ERM from 1990 to 1992, the UK government effectively lost control of interest rates and, to a certain extent, the supply of money. So, a government's monetary policy consists of the control of interest rates, the money supply or the exchange rate. It is difficult to control two or more of these things at once. UK monetary policy - from 'Thatcher's experiment' to the ERM The policy of controlling the money supply of the early 80s did not quite work as intended. Nigel Lawson, the Chancellor at the time, decided to 'shadow' the Deutschmark

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Economies of Scale

Economies of Scale These occur when mass producing a good results in lower average cost. Economies of scale occur within an firm (internal) or within an industry (external). Internal Economies of Scale These are economies made within a firm as a result of mass production. As the firm produces more and more goods, so average cost begin to fall because of: * Technical economies made in the actual production of the good. For example, large firms can use expensive machinery, intensively. * Managerial economies made in the administration of a large firm by splitting up management jobs and employing specialist accountants, salesmen, etc. * Financial economies made by borrowing money at lower rates of interest than smaller firms. * Marketing economies made by spreading the high cost of advertising on television and in national newspapers, across a large level of output. * Commercial economies made when buying supplies in bulk and therefore gaining a larger discount. * Research and development economies made when developing new and better products. External Economies of Scale These are economies made outside the firm as a result of its location and occur when: * A local skilled labour force is available. * Specialist local back-up forms can supply parts or services. * An area has a good transport network. * An area has an excellent reputation for producing a

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The Marketing Mix

Marketing Mix The marketing mix is the combinations of factors which help the business sell a product- Usually summarised as the 4 P's, which are price, product, promotion and place. It is important I get this right as if I get it wrong it could affect my business's success. And if my business is not successful I will be in a financial problem as the business requires a large amount of capital, buying between 5 and 10 computer pc computers of a sum around £500 each, however I would try see if I can get a discount by buying in bulk. Product The product mix is the combination of products that a business sells, like soap powders, cosmetic's and medicines. The product range is a group of similar products made by a business, like a number of different soap powders. I will be selling a wide range of tea's, coffee's and soft drinks, also selling a few snacks, while putting peanuts next to the computers hoping that the customer gets thirsty. My closest competitors are in Morden I am aware they do not have that good computers, however they have a reasonable amount of them of them. Quality is achieving a standard for a product or service, or a production process, which meets the customers' needs. I will ensure that my business reaches a standard of quality that my customers will be happy with, as I will make sure my computers will be at a high speed and high performance rate. I will

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Type of Ownership

Type of Business Ownership 4th October 2008 Types of ownership Sole proprietor- A sole proprietor is a single person owning a business. Sole trader have unlimited liability (all debts paid by the owner, personal possessions may be taken). Partnership- 2 - 20 partners own, control and finance the business. They have unlimited liability. In a partnership the partners need to draw up a 'Deed of Partnership' to verify their company and to describe each partner's role in the business. Private Limited Company (Ltd)- A Company owned by shareholders. A limited number of shares are issued (99); these are owned by family and friends of the business. The business has limited liability (the only money lost is the money already invested in the company such as the shares, set up cost and others. Personal belongings are safe). A lot of small businesses are private. Public Limited Company (PLC)- A Company owned by shareholders, unlimited amount of shareholders. It must have £50,000 of capital, and may allow its shares to be bought by the general public via the stock market. The business has limited liability. Every PLC must send an annual return to Companies House at least once every 12 months. Franchise- Franchising refers to the methods of practicing and using another person's philosophy of business. The franchisor grants the franchisee the right to distribute its products,

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