Supermarkets compared - Pricing Low to high pricing Quality of the product and customer service. Availability 24 hours a day, easy to get, in stock Market segmentation
Task D External influences are things that a business has to react to. These could be drops in share prices, prices going up for oil etc; the main areas of influence are competitors, Political/Legal/Economics and Environmental/ Social. If competitors make their prices lower but still offer the same quality then its competitors have to react to this change and lower the prices as well and try to still give good quality. If a competitor opened more shops then the other business may have to open more stores in order to stop from loosing its customers. If people consume more products are being made then the shop will loose out on sales and customers. If a company does something wrong then they may be taken to court this would be bad advertisement and they would want to keep it out of the public eye. If socially people stopped shopping and instead they started driving more then the business would have to adapt to this new fashion to keep money coming in. If suddenly it changed back to clothes they would have to adapt back to clothes. If people became more eco-friendly then the business would have to become eco-friendly so as to keep it's customers happy and keep them coming in. All of those affect other businesses by trying to increase market share. The areas this affect are: Pricing - Low to high pricing Quality - of the product and customer service. Availability - 24
In this piece of coursework I will talk about the activities that Jaguar Cars currently has in place so that they achieve their aims and objectives.
Activities at Jaguar There are many activities that jaguar can undertake to insure that they meet their aims and objectives. Activities are specific things that jaguar are doing and can do so they meet their aims and objectives a lot quicker. In this piece of coursework I will talk about the activities that jaguar currently has in place so that they achieve their aims and objectives. The first aim that jaguar has it so meet production targets. There are many ways in which jaguar can ensure that they meet this aim. The first thing that they can do is to continuously update their lantern board. The lantern board is where all the information about the cars to produce is put up and the targets for the day are put up. There are many advantages for this. The first advantage that this has is that it makes the employee's job easier as it shows them what they need to achieve by the end of the day, by doing this it means that the production line will be continuous because all the employees will be doing the jobs that is required of them. If the production line is continuous it will lead to customer satisfaction as they will be getting their cars on time. The second advantage of having the lantern board up is that it keeps the employees motivated, the way in which it keeps them motivated is because it shows them a clear list of what they need to do, and this will make them
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.
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
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,