In this part of the assignment I will be comparing two organizations (ASDA and Post Office), then I will be describing each businesses aims, objectives and mission statement.
M1 Introduction: In this part of the assignment I will be comparing two organizations (ASDA and Post Office), then I will be describing each businesses aims, objectives and mission statement. Furthermore I will be concluding this part of the assignment Similarities and Differences between ASDA and Post Office Similarities in ASDA & Post Office Differences In ASDA Differences In Post Office * Make Profit * Sale food, clothing, household * The good they Sale is only stationary * Provide goods & Services * Private Sector * Mainly based on selling services * Both a Franchise * Order online * Public Sector * Both large businesses * * Aims, Objectives Mission Statement for ASDA and Post Office: Aims for ASDA: ASDA's aims are to provide goods/services that are cheap and affordable to consumers or the public, reducing the cost of their items/products, recycling their waste, packaging their products well, supporting voluntary sector services, to provide food hygiene and safety and diet and healthy food. Objectives for ASDA: ASDA's aims are to design excess packaging waste by the end of march 2008, delivering absolute reductions in packaging weight by end of march 2010 and tackling the amount o food consumers by end of march 2010. ASDA's Mission Statement: To be United Kingdom's best value retailer exceeding customer needs, always. Aims for Post
Job roles in ASDA.
In this task I need to create a table, in the table i need to show the different job roles and what their functions are within the business. The business that i am going to link my table to will be ASDA. Job Roles Responsibilities Directors The responsibilites of the directors is looking after shareholders' intrests. The director of ASDA has the responsibility for ensuring the success of ASDA in such areas like health and safety, employment law, for example is ASDA complying with the minimum wage act. A director needs to avoid conflics of intrest. Managers The responsibitlies of a manager is to motivate staff, setting targets and recuting and dismissing staff, allocating work, communicating planning and desicion making, problem solving. A manager in ASDA will supervise and manage the overall performance of the staff in the whole department, they also report recommendations and develop stratigies on how to improve to improve on the quality of service and the quantity of sales. The managers are involved with employing staff to work for them they are also involoved in the career development. They are responsible for the growth and increase of finances and earning that ASDA make. Supervisors/Team Leaders Managing operatives. Motivating their staff and allocating tasks. The supervisors/Team leaders in ASDA will create the rotas for staff to work this will need to be
Business Case Study - Hormaz
Business case study Hozmallo Pumps Hozmallo Pumps is a private limited company located in India, that manufactures and distributes high quality (producer good) water pumps for buildings all around the country. Cyrus Polpet started the company 71 years ago, but now his son, Armand is taking over as CEO. Since the last 2 years, sales of the business have been rapidly decreasing resulting in very low profits (fig. 1.1) mainly due to the soaring inflation in India. Furthermore, the financial strength of Hozmallo Pumps has not been good. After calculating, the Current ratio of the business is 0.98. Armand found his fathers Budgets for the business (fig. 1.2). Many other problems have occurred in the business too over the last 2 years. Young and ambitious, Armand has set certain goals for the future to improve Hozmallo Pumps: > Reduce costs > Increase profits > Spread risk of the business > Increase market share > Expand into new countries Fig. 1.1 Armand wants to purchase the new 'Pumpmaster 3000' to reduce costs and increase output, but is finding it difficult to pull out $5,500 from the business. Also, he wants to expand the business operations into the middle-eastern market. Armand found that Oman would be a good country to expand into for various reasons after carrying out market research. Data collected: * Many clients willing to buy product * Competitive
Do you learn better by yourself or with a teacher?
Do you learn better by yourself or with a teacher? Some people claim that they can learn better by themselves with the help of books and Internet which has many study materials, whereas having a teacher makes them more rely on his/her help. However, those who think this way do not realize several beneficial advantages of having a teacher. Here are a few reasons why I prefer the help of teachers. First, whenever we study and read the new topics or subjects, questions regarding those matters start to appear. At that moment, we need someone to answer those questions and tell us more details about them. From my own experience, when I was a high school student, I had a hard time understanding integral calculus. Although I spent a lot of time studying that particular subject, I couldn`t not only catch up with the required assignment but figure out how to solve the problems by myself. My math teacher pointed out my mistakes and suggested a systematic and better way to approach this subject. I finally got a better and deeper understanding of it. Without that help, this would either have taken too much time or never solved at all. Another reason why teachers are needed is because they not only convey knowledge to students but also give them a right direction. For example, most the students who have just entered into college tend to misuse their freedom e. g. parties, alcoholic drink,
Customer service is providing service and information to customers, before, during and after the purchase of a product.
Customer Service Customer service is providing service and information to customers, before, during and after the purchase of a product. There are two types of customers, internal and external. . An internal customer is someone who works for the company itself, and knows about the products well. When an internal customer calls or we call them to sell a product, it is very easy to handle and understand them. When they have any enquiries, it is easy to talk to them, because they know what they talking about. 2. An external customer is someone who does not know much about the company or the products. We need to provide them a lot of information and inform them about all the features and benefits of purchasing a product. We need to work harder and make them aware of our best products. Furthermore, customers can be inbound or outbound. . When customers call on our inbound line, they have control on what to buy or not. It is easier to sell to them. Also, if they are happy with our service and products, they call us more often and encourage other customers to call us. 2. When we call customers from our outbound line, we advertise our products so we need to be convincing to the customers. It is harder to promote products because sometimes customers are not ready to buy. Next is the concept of USP. Customer service must show Unique Selling Point so that customers use only
Explain how economists model how an increase in government expenditure can lead to a greater increase in national income.
Explain how economists model how an increase in government expenditure can lead to a greater increase in national income. Ans. National income is the total amount of wealth that accrues to the permanent residents of a country as a result of the production of goods and services within a country during the course of a year. It is important to measure national income because it shows whether the standard of living in a country is rising or falling and it can be used as a means of comparison between other countries. It is also useful to measure income against past income in the same country to see whether the economy is growing or declining. An increase in government expenditure is an injection in the circular flow on income. An injection is an addition to the circular flow of income. The diagram above illustrates some of the injections and leakages in the economy. It is however very important to find out exactly what will be the effect on the economy from an increase in injections. Economists do this by calculating the multiplier effect of the increase in the government expenditure on the economy. The multiplier indicates how many times that the injection of original spending circulates through a local economy. As a result of re-spending, it benefits the local people. The formula for calculating the multiplier effect is 1/(1-MPC). When there is an increase in the
Business Costs
Business Costs In a business there are three different types of business costs these costs are: Direct & Indirect Direct costs are expenses that can be attributed making a particular product such costs include factory labour, raw materials and operating machinery. Indirect costs are the general overheads of running a business for example; salaries, telephone bills and rent. Firms that make more than one product will want each one to earn enough sales revenue to cover its direct costs and make a contribution to indirect costs. If all the products together make enough contribution then the business will make a profit. Fixed & Variable Fixed costs are costs which do not vary. They are mostly indirect costs - Management salaries, telephone bills and office rent. They have to be paid even if the firm produces nothing. Variable costs are costs that cab change every time a bill etc... must be paid, these are mostly direct costs such as factory labour, raw material etc...Some costs are semi variable, they only vary slightly because they have a large fixed element, for example workers wages - most people receive a basic salaries and only part of their pay is linked to output. Fixed costs are usually only fixed over a short period of time, if a firm is expanding, it will take on more managers and rent more offices so the fixed cost will increase. A firm can work out their
Primary, secondary and tertiary classifications of a business.I will be using Tesco as an example.
Primary, secondary and tertiary classifications of a business. To explain to you what all those area's do I will be using Tesco as an example. Tesco is known for the food it sell and is now moving up by selling more and more every day. For example it has now started selling electronics they also offer many other Tesco is found everywhere in the UK making them a national company Primary: Tesco get's its food from farms around the country side. Farms grow the food and when they are ready they sell what they have grown. For example greens and meet like cow's sheep and many more. (The primary area produces raw materials or extracts raw materials from the earth) Secondary: The goods that have been bought from farms is then sent off to get produced to make food that is ready to eat or is ready to cook. At the factory they are prepared and packed up and ready to be sent to stores to be sold off. (The secondary area manufactures raw materials into finished products) Tertiary: The packed food is then bought by Tesco and then sent to near by Tesco stores. Tesco stores the goods in its where house. Where stays until it is needed. Tesco then puts the goods on show in their stores ready for us the consumers to buy them.(this is where the finished products are sold or shared to the public) Ali Ismail Group A
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
