Profit and Loss Account

Task 2 Task 2 Part 1 Financial Documents No matter how good a person Henry is or how good a business idea he has unless he manages his cash flow really well his business will experience problems. This will help Henry to keep an eye on how much he spends and how much money comes into his business. If he can track this well his business should not run out of money to pay for items. I will now outline key documents Henry will need to use in his business to track and record his business activity. . Invoice: (To request payments) This is a document used by business to request payment for goods they have sent to other businesses. This will list goods sent and money that will need to be paid. An invoice will usually need paying within thirty days. 2. Cheque: A cheque is usually the best way for a business to make payments (to other businesses) and receive payments from others. A cheque will also provide a record of any transaction that takes place. 3. Recording money coming into a business and going out of a business: Henry will need to use a two column cash book that will record payments he makes and payments he receives. Task 2 Part 2 / Part 3 / Part 4 In this section I will carry out the various financials that my DJ business will have to carry out in order to operate or function effectively. I will look at each operation and outline how it is to be used in my DJ

  • Word count: 997
  • Level: GCSE
  • Subject: Business Studies
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Produce a marketing strategy for a new or existing product

o : Sturrock From : Jameeda Bashir Date : September 2002 Ref : Marketing INTRODUCTION The aim of the report is to produce a marketing strategy for a new or existing product. I have chosen to base this report on Cosmopolitan, a successful woman's monthly magazine. I have chosen this because it has a loyal readership and is currently market leader in its field. Women's Monthly Periodicals Adults Mens Womens (000s) (%) (000s) (%) (000s) (%) Cosmopolitan 915 4.1 331 .5 585 6.6 Marie Claire 690 3.6 223 467 6.1 Vogue 272 2.7 259 .1 013 4.2 Elle 951 2 31 0.6 820 3.4 New Woman 660 .4 46 0.2 613 2.6 Red 585 .3 52 0.2 533 2.2 Above is a copy of the current readership figures for the UK's top Health, Beauty and Lifestyle Woman's monthlies. As the figures show, while there is a large gap between the readership figures for Cosmopolitan and its closest rival (Marie Claire), the only way to make sure that Cosmopolitan will remain market leader in the future is to continue to widen that gap. Therefore, my marketing aim is to continue to increase the market share. Cosmopolitan has reached the top of the league by using a marketing strategy which combines the promoting or giving out of questionnaires and other research techniques to understand the needs of the customers/ readers and giving freebies, advertising and more.

  • Word count: 11374
  • Level: GCSE
  • Subject: Business Studies
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The principles of marketing

The principles of marketing For a marketing strategy to be successful it needs to be based on all for the principles of marketing. We have been appointed to launch a new magazine targeted at young women ages 17-21, and have to develop a Marketing Strategy in order to promote it and ensure its success. A strategy is lacking of showing weakness on any of these then the entire mix could falter and it could have serious repercussions on the success of your product. I have decided to improve on the existing magazine 'vogue.' Although it is one of the most successful women's magazines in history, I hope to make it more relatable to the average reader. I intend to keep its high profile fashion identity, informing the reader of the latest cat walk triumphs but perhaps add a section done by many other magazines, which translates these into a high street version. I hope that this will give the magazine another appeal, as not only will it be a link to the fashion world, it could also be bought in order to derive affordable out-fit ideas. The second aspect that I have decided to incorporate in to my magazine is the popular 'real life' article. This gives an entirely new angle to vogue, as reports such as these are not usually a feature. My decision to uses 'vogue' for my magazine allows me to already have the assurance of its success. If any changes I made to the magazine proved to

  • Word count: 1331
  • Level: GCSE
  • Subject: Business Studies
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The Principles of Marketing

The Principles of Marketing My objective for the marketing strategy is to achieve more profits by making some adjustments to the packaging of Coca-Cola. I want to see whether the demand for Coca-Cola will increase or decrease due to small changes. These changes are that I will replace the opening with a cap on a Coca-Cola can to stop people throwing away the drink due to a lack of storage space. By doing this I hope to gain a bigger market share for Coca-Cola. Before I start making any changes I need to primary and secondary research in which consumers will be asked whether they would buy the changed product. In order to make the idea a success I will have to develop a marketing strategy which evaluates ways which we can achieve these objectives. The reason businesses seek to make a profit is that, without a profit, a business is unable to do all the things it wants to do. Without profit the business cannot keep its shareholders happy, it cannot pay higher wages to its employees, it cannot invest in better technology to improve its products and so on. In order to anticipate change, organisations need to have an antenna that is highly sensitive to changes taking place in the buying population. For example, what is happening to: ) The age structure of the population? 2) Tastes and preferences? 3) Incomes? Market research is the antenna of an organisation and

  • Word count: 662
  • Level: GCSE
  • Subject: Business Studies
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Time Management

Table of Contents Time Management 3 Time Management Audit 3 Analysis 4 * Weekly Time analysis 4 * Pie Graph of weekly time analysis 4 Taking Action 6 Conclusion 7 Appendices 8 Time Management "Time is a scarce resource. It is irreplaceable and irreversible." (Adair, 1988, p1). Time Management is an effective way of organizing how time is spend by putting main priorities ahead of others and keeping track of what needs to be done, to make efficient use of time. It is important to manage your time so that you know what needs to be done and how to be prepared for each days work so that your goals can be achieved. Time management is also effective for employees. For employees who manage their time effectively, it becomes much easier for them to complete their tasks on time. This is because they know what has to be done, what their priorities are and when to do them. There are many ways to manage your time efficiently, but before this can be done, an analysis is required to identify how you spend your time to see what you need to improve. The steps to do this include a time management audit, which is a process on the use of your time, then an analysis to identify how you are currently using your time. After this has been done, the actions which are required to manage your time more efficiently should be discussed to conclude how it will assist you to manage your

  • Word count: 1383
  • Level: GCSE
  • Subject: Business Studies
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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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  • Word count: 730
  • Level: GCSE
  • Subject: Business Studies
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Using the sources and your own knowledge, to what extent were the government policies the main reason for sluggish economic growth between 1951 and 1964?

Using the sources and your own knowledge, to what extent were the government policies the main reason for sluggish economic growth between 1951 and 1964? In my opinion, the "sluggish economic growth" in the context of this period would be better termed as "relative economic decline". This suggests that Britain's economy grew 2.5% per year by the 1960s, however, at a rate far slower than its foreign competitors, such as, Germany and Japan. There are many factors that led to "relative economic decline" such as, poor industrial relations, large amounts of money spent on defences, government policies and the most important factor, a decline in industrial productivity. The most affecting factor leading to Britain's economic situation was low industrial productivity. This was caused by a sequence of factors, such as poor management and insufficient technology leading to poor industrial relations and strikes. This negative multiplier effect resulted in poor economic performance and low wages for workers. The low wages further enhanced the problems by increasing tension between workers and managers, which led to a greater frequency of strikes. Due to increased strikes, productivity was reduced, as most workers were too busy striking. Between 1960 and 1964 workers spent only 48% of their time at a machine. Overall the low productivity eventually led to "relative economic decline".

  • Word count: 1167
  • Level: GCSE
  • Subject: Business Studies
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Trade Unions

Trade Unions What are trade unions? "It was when I got interested in the union, that's when my life took off. It changed my life, it became my life. What excited me? Well it was the thought of the workers taking part in their lives, workers having a say, the idea that you'd got the right to argue with the boss. I felt the blokes weren't going to go back to the old days, they were going to have their say." (A retired Coventry car worker quoted in Wigan Pier Revisited by Beatrix Campbell) Trade unions were formed in the 19th Century by groups of workers to bargain with employers and achieve better pay and working conditions. Trade unions have in the past been very powerful but this power has been reduced in recent years by a decline in manufacturing industry, anti-union laws and globalisation (multi-national companies who have trouble with their employees can close down and move to another country). In 1900 trade unions formed what later became the Labour Party to be represented in Parliament. Unions still pay money to the Labour Party and play a part in it but New Labour has distanced itself from the unions. There are about 6.7 million people in 70 trade unions in Britain. They join together in the Trade Union Congress (TUC). Types of trade union * General unions - these represent a wide range of workers in different jobs e.g. the Transport and General Workers Union. *

  • Word count: 868
  • Level: GCSE
  • Subject: Business Studies
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Training and development.

.4 Training and development: An important part of manpower planing is the continual review, identification and update of training and development programmes. The reason for this was the recognition by investors that a key route to competitiveness is through information and communications technology. In a knowledge economy training and development is considered much more valuable than before. Companies that train and develop its employees are well placed to add value to products and therefore gain competitive advantage. This is true for the individual business is also true for national economies, and this is one the major reasons why the government have placed so much importance on education, training and development, especially on information and communication technology. Boots Each year Boots spends millions of pounds on the training and development of its staff. Not only is that an investment in the businesses but this also means that Boots staff gets to enjoy their job more. Staff development is a key part of the company's success. With out committed, motivated and fully trained staff, Boots could not have become as successful as it is today. Boots Group policy provides: * All necessary training for new transferred or promoted employees. * Training in health and safety and in legal and social responsibilities at work. * Individual training to

  • Word count: 1995
  • Level: GCSE
  • Subject: Business Studies
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Understanding Business

Coursework Task 1A - An overview of the main activities of the business, its aims and objectives, the type of ownership and the liabilities of the owners. Introduction * As part of my applied business GCSE, I have been asked to compare two different companies. The two companies I am going to compare are Nike and Mc Donald's. Nike is an ltd, while McDonald's is a Franchise. At the end of this course I aim to get a better understanding of how businesses run. A quick note At the beginning of this coursework I decided to choose the company Adidas as my second business. Later on in the project I came to a decision that I wanted to change this to McDonalds. However, during the process of Adidas, I sent off an email asking if they could send me a student pack and soon after received a reply. (Reply can be found in the appendix.) Activities of business (Mc Donald's) McDonald's offer a range of many different food and drinks such as: * Burgers * Drinks (fruit juice, water, coffee, hot chocolate, tea etc.) * Onion rings * Toasted sandwiches * Chicago works meals * Chips * Apple pies * Fruit * Milkshakes McDonalds also offer a range of foods for breakfast which include: * Egg * Bacon * Coffee * Tea * Hot chocolate * Muffins * Sausage * Apple pies McDonalds also partake in different activities such as: * Organising birthday parties * Bouncy castles *

  • Word count: 4912
  • Level: GCSE
  • Subject: Business Studies
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