Scarcity and Unlimited Wants.

Borja Hormaeche Business Studies Research Scarcity Unlimited Wants Humans have many different types of wants and needs. Economics looks only at man's material wants and needs. These are satisfied by consuming (using) either goods (physical items such as food) or services (non-physical items such as heating). There are three reasons why wants and needs are virtually unlimited: . Goods eventually wear out and need to be replaced. 2. New or improved products become available. 3. People get fed up with what they already own. Limited Resources Commodities (goods and services) are produced by using resources. The resources shown in Table 1.1 are sometimes called factors of production. Table 1.1 Different types of resource Type Description Reward Land All natural resources Rent Labour The physical and mental work of people Wages Capital All man-made tools and machines Interest Enterprise All managers and organisers Profit Types of Commodity A free good is available without the use of resources. There is zero opportunity cost, for example air. An economic good is a commodity in limited supply. Expenditure on producer or capital goods is called investment. The Economic Problem The economic problem refers to the scarcity of commodities. There is only a limited amount of resources available to produce the unlimited amount of goods and

  • Word count: 15824
  • Level: GCSE
  • Subject: Business Studies
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Investigate about the important roles that management plays in achieving my chosen organisation aims and objectives. My chosen business is Tesco's.

INTRODUCTION In this assignment, I am going to investigate about the important roles that management plays in achieving my chosen organisation aims and objectives. My chosen business is Tescos, which is UKs biggest retailer; it operates in the tertiary sector. The focus of this report covers an explanation of how the management team of my chosen business uses planning and monitoring to help achieve the organisation's aims and objectives. I am also required to describe the role of management in improving the performance of my chosen business (Tescos) and show how management activities can raise performance. Secondly I am to describe ways in which manager's role including the management of resources. I will have to demonstrate the role of manager's interpersonal and communication skills and make recommendations. Finally I will evaluate the role of management in improving performance and the different ways in which management functions may be met more effectively through the use of interpersonal and communication skills. Task 1 Explain how the aims and objectives of a business may be achieved through Planning and Monitory. TESCOS It all started in 1924, when a Sir Jack Cohen started selling groceries in London's East End markets. By the1950's, this had grown and supermarkets were now in development. Tescos opened its first and indeed the UK's first superstore in 1967,

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  • Level: GCSE
  • Subject: Business Studies
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Building Effective Teams.

BUILDING EFFECTIVE TEAMS In this age of rapidly changing technology, market-driven decision making, customer sophistication, and employee restlessness, leaders and managers are faced with new challenges. Organizations must build new structures and master new skills in order to compete and survive. As work settings become more complex and involve increased numbers of interpersonal interactions, individual effort has less impact. In order to increase efficiency and effectiveness, a group effort is required. The creation of teams has become a key strategy in many organizations. Team building is an essential element in supporting and improving the effectiveness of small groups and task forces and must be a key part of a total program of organizational change. Hellriegel, Slocum, & Woodman (1986) state that team building is used to improve the effectiveness of work groups by focusing on any of the following four purposes: setting goals and priorities, deciding on means an methods, examining the way in which the group works, and exploring the quality of working relationships. A cycle then develops; it begins with the awareness or perception of a problem and is followed sequentially by data collection, data sharing diagnosis, action planning, action implementation, and behavioral evaluation. This style is repeated as new problems are identified. Not all work groups are

  • Word count: 15495
  • Level: GCSE
  • Subject: Business Studies
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Business studies - Business Plan

Contents Introduction - Page 2 Planning Self-Assessment - Page 3 Skills and Talents - Page 6 Brainstorming - Page 8 Gaps in the Market - Page 10 Decision Time - Page 13 Findings Customers/Market Research - Page 15 Personnel - Page 23 Marketing - Page 25 Production - Page 30 Finance - Page 33 Evaluation - Page 36 Bibliography - Page 38 Introduction In this report I will be looking at all the needed sections in order to start up my business. I will begin with a self assessment of myself; this is in order to see if I have the needed skills in which to run a business and if I am capable to do so. I will then be looking at my skills and talents and how they help me in the running of my business and dealing with my customers. I will be making some brainstorm diagrams to give myself an idea of then type of business I would like to run and I shall also be looking at the advantages of my ideas. The final sections in my planning are looking at the gaps in the market, I will do this to see if there is a need for a one my business ideas in the city I wish to set up, I will also be able to see how much completion I would with each of the business ideas. After that is the decision time, I will be looking at all of my previous sections and using them I will decide the most suitable business for myself to start up, I shall list the reason I have chosen said business as well.

  • Word count: 15305
  • Level: GCSE
  • Subject: Business Studies
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A REPORT INTO HUMAN RESOURCE MANAGEMENT AT SAINSBURY'S

A REPORT INTO HUMAN RESOURCE MANAGEMENT AT SAINSBURY'S TUTOR GROUP: W110 HARROW COLLEGE NOVEMBER 2003 BY KANAK PATEL Contents Page PAGE NO. Introduction 1 Role and Responsibilities of HRM 2 Human Resource Planning 5 Recruitment and Selection 21 Training and Development 35 Motivation and Performance Management 43 Contribution of HRM to improve competitiveness 56 Potential Conflicts between HRM activities 58 Bibliography 60 Introduction This is a report into Human Resources Management (HRM) at Sainsbury's PLC. The report will cover the following aspects of HRM: * Human Resource Planning * Recruitment and Selection * Training and Development * Performance Management Sainsbury's is a leading UK and US food retailer with interests in financial services and property. It has branches throughout the country selling a wide range of products. It has diversified into banking, selling electronics and financial service. Sainsbury's operates a much centralised Human Resource policy in which all major decisions are set, by top management at head office with locally based personal managers carrying them out. The group's objective is to meet its customer's needs effectively and thereby provide shareholders with good, sustainable financial returns. Sainsbury's aims to ensure all colleagues have opportunities to develop their

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  • Level: GCSE
  • Subject: Business Studies
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An accurate description of the responsibilities covered by Shoppers Paradise's human resources function and an explanation of the importance of these activities to the business.

PART 1 TASK 1 .1.1 An accurate description of the responsibilities covered by Shoppers Paradise's human resources function and an explanation of the importance of these activities to the business. (E1) Shoppers Paradise's Human Resources Department Shoppers Paradise regards staff as the most important resource. The human resources function is concerned with the employees who work for Shoppers Paradise. Other resources include capital, equipment, buildings, land and materials. If the employees are keen to do their best, are well trained and committed to the aims of Shoppers Paradise, then Shoppers Paradise will be successful. This is why the employees or human resources are so important. The aim of the human resources department is to maximise the contribution of employees to Shoppers Paradise. Not only they involve recruitment and training, but induction programmes as well. High levels of motivation help to plan the careers of employees. This is to ensure that suitable people are elected for the post. Shoppers Paradise's human resources department as a whole can be clearly defined in the following statement: "The most valuable resource in any business organisation is its people, or human resources. There is a direct relationship between the quality of the workforce and business success". (Source: Moynihan, D. & Titley, B. Vocational A Level Advanced

  • Word count: 15105
  • Level: GCSE
  • Subject: Business Studies
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I have decided to investigate a large hotel chain called intercontinental hotels group PLC. I am going to do a comprehensive review of the role and relative importance of the organisations stakeholders

This report is presented in this order: a) Introduction and Information about the business b) Stakeholders c) Customer service d) Job roles and working arrangements e) Employee recruitment and Training f) Employer and Employee rights and responsibilities I am going to produce a report on a large organisation. I have decided to investigate a large hotel chain called intercontinental hotels group PLC. I am going to do a comprehensive review of the role and relative importance of the organisations stakeholders. I will found out the following information: - Details of their important stakeholders - The customer service arrangements in the business - How customers are protected by law - The job roles in the organisation - The working arrangements for staff in the organisation - How staff are recruited and trained - Employer and employee rights - Health and safety issues in the organisation Intercontinental hotels group PLC is the world's most global hotel company and has the largest by number of rooms. The group has more than 3,500 owned, leased, managed and franchised hotels and approximately 536,000 guest rooms across nearly 100 countries territories. The group owns many different brands of hotels including: - Intercontinental hotels - Crown plaza hotels and resorts - Holiday inn hotels and resorts - Indigo hotels - Candlewood suites - Stay bridge For

  • Word count: 14693
  • Level: GCSE
  • Subject: Business Studies
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If the company does not have an effective process of hiring staff then they could hire people that are not right for the job they are applying for resulting in poor performance overall and employees leaving. When companies have a structured interview

Human Resources Report Unit 2 Recruitment in the workplace Ferhat Say Content Introduction Task 1- AO1 . Recruitment and selection process 2. Induction programme 3. Employee motivation 4. The legal dimension Task 2- AO1 5. Introduction to RCI 6. Job roles available at RCI 7. RCI process and analysis of how other companies approach: -Recruitment and selection processes -Induction programmes -Employee motivational packages and methods Task 3- AO3-AO2 8. Analysis of key recruitment and inviting successful candidates to the interview 0. Selection of Final documentation 1. Selecting the final candidate 2. Letter to successful/unsuccessful candidate Task 4 AO3-AO2 3. Induction programme 4. Motivational package Task 5 AO4 5. Judging effectiveness 6. Research methodology 7. 1improvments 8. Appendices A. Witness statement B. Minutes of group meeting C. Advertisements one and two D. Person specification one and two E. Job description one and two F. Application form one and two G. Final documentation and results H. Interview schedule I. Interview's assessment/evaluate score sheet J. Selection results sheet K. Application documentation a. Covering letter b. Application form c. CV L. RCI benefits package M. RCI induction package N. Agenda and Minutes: Job role, tasks and responsibilities Introduction Recruitment and Selection

  • Word count: 14690
  • Level: GCSE
  • Subject: Business Studies
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Business at Work - ASDA

Business Studies Unit 1 (Business at Work) E1 - Type of Ownership Asda is a household name in the U.K and is renowned as one of the leading national supermarkets. Asda is a nationwide chain of supermarkets, which has branches across many parts of the world. More recently Asda was taken over by the retail giant Wal-Mart which has a retail empire in the USA. Asda is a public limited company. It is open to the public; therefore stakeholders can purchase shares into the company. Asda is supermarket, which aims to provide its customers with the best possible goods and service with its permanently low prices. Asda's aim is to provide the best service to its customers and beat its competitors. Asda has branches all over the world, it is very well known by the public as well as the supermarket industry. Asda is in the industry of oligopoly as it has many competitors. There are many advantages for Asda in being a public limited company but at the same time there are also several drawbacks. Asda is a large company, therefore it has its shares bought and sold on the stock exchange. This is beneficial as large amounts of capital can be raised very quickly. However having shares quoted on the stock exchange is very expensive. Furthermore a crucial disadvantage for Asda is that control of the business may be lost by its original shareholders when large quantities of

  • Word count: 14677
  • Level: GCSE
  • Subject: Business Studies
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Marketing Thorpe Park and London Dungeons.

Contents Page Index * Introduction. * Background of the Thorpe Park and London Dungeons. * Information on rides and ticket prices to Thorpe Park and London Dungeons. * Opening times. * Their facilities that they provide. * Information about what is in Thorpe Park and what is in London Dungeons and what it's about. * Information about their catering facilities. Introduction In this coursework that I am presenting, will be based on Thorpe Park I will be producing understandable and descriptive accounts of information on their products, services and pricing that Thorpe Park offers to their consumers. Background of Thorpe Park Thorpe Park is a theme park located in Surrey, United Kingdom. It was built in 1979 on the site of a gravel pit which was partially flooded with the intention of creating a water based theme for the park. The park's first large roller coaster, Colossus, was added in 2002. In 2007, Tussauds was bought out by Merlin Entertainments. In 2007, the park had 1.7 million visitors, making it the second most visited theme park in the United Kingdom after Alton Towers, and 13th most visited in Europe. Thorpe Park is situated on what was a quarry in Staines, up until the late 1970s. Former owners Ready Mix Concrete filled the site with water after the quarry's closure, with the intent to start a leisure park. On May 24, 1979, Thorpe Park was officially

  • Word count: 14632
  • Level: GCSE
  • Subject: Business Studies
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