Business sector: An area of the economy in which businesses share the same or a related product or service. Economies are comprised of four sectors. The primary sector involves the extraction and harvesting of natural products from the earth (e. G. , agriculture, mining and forestry). The secondary sector consists of processing, manufacturing and construction. The tertiary sector provides services, such as retail sales, entertainment and financial services. The quaternary sector is made up of intellectual pursuits, like education. Business purpose: The purpose of the business is to fill a need.
Money comes after. So, Basically Money is secondary. You should focus on a need to succeed the business. Filling that need with something that makes money will make the business grow and succeed. The difference between a profit and a non-profit business is that one aim for the business is to make money and an the opposite for the other Ownership of a business: Forms of business ownership vary by jurisdiction, but several common forms exist: Sole proprietorship: A sole proprietorship is owned by one person and operates for profit. The owner may operate the business alone or employ other people.
Stakeholders: A key stakeholder is someone who can help your planning effort succeed or fail – the person who has information you need, or other important resources for solving the problem – access to money or legislative or regulatory “fixes. ” Laid: Laid is a franchise company in the private sector, it is a private limited company because it was founded by two brothers named, Karl and Thee Albrecht. It is a global company which means that is has more than one location worldwide. The purpose of Laid is to supply high quality goods and offer an amazing service to their customers.
The key stakeholders for this business are, customers, employees, suppliers and owners. The ownership of Laid is Karl and Thee Albrecht, Etcher and Borehole Albrecht. Reference: http://en. Wisped. Org/wick/Laid NASH: NASH is a national company which is owned by the government, it is a public limited company which means its government owned. This business is a non- profit business which means they do not aim to make a profit . Key stakeholders include: Commissioners Customers Collaborators Contributors Commentators Consumers Competitors The NASH is in the tertiary sector because it is a service.
Unit 1 Business Environment, Activity 1. 2 UP-UP This task will describe the organizational structure of the two chosen businesses and explaining why that structure helps the business to fulfill its needs.. Purpose: The purpose of the business is to fulfill a need. Money comes after. So, Basically succeed. Ownership organizational structure: Organizational structure refers to the way in which workers are arranged in a business. A hierarchy is an organization that is structured in layers. Those at the top of the hierarchy have more authority than those lower down.
Strategic planning: Strategic planning is an organization’s process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. Laid (Ltd) Laid is organized by a divisional structure, their structure looks like this: This structure helps fulfill their needs because every member of staff knows where they stand in the business. Harshly School (PL) Harshly would be organized with a divisional structure. The purpose of this is to see how each department is split up and you can easily find where each member of staff is.
This task is going to be describing he influences of two contrasting economic environments on business activities within a selected organization. Imports and Exports Imports- goods or objects coming into a country Exports-goods or objects going to a different country Impact of the economic environment: Economic environment refers to all of the factors that affect the behavior of businesses and consumers. The rate of growth of the economy, the level of employment changes in the level of prices or the cost of borrowing can have a significant influence on demand for products and therefore the level of production.
Inflation The rate of inflation measures to the annual increase in the average level of prices within the economy. An annual fall in the average price lead is referred to as deflation. Rising levels of inflation can cause a number of problems for businesses Reduced profit levels if firms are unable to pass on increasing costs of materials and power by increasing the prices they charge to their own customers perhaps because they operate in fiercely competitive markets. How businesses are affected by government policy Governments create the rules and frameworks in which businesses are able to compete against each other.
From time to time the government will change these rules and frameworks forcing businesses to change the way they operate. Business is thus keenly affected by government policy. Changes in GAP and in demand in economies studied. Economic growth is important if businesses are to grow and prosper. It relates to growth in the output of the economy as a whole. Growth is measured as the change in the gross domestic product (GAP) of a country over one year. For comparisons over time this figure must be adjusted to allow for inflation and the resulting value is called ‘real growth’.
KEF In England and China: The chief of kef in the UK and Ireland has revealed plans to create 9000 as recession hit British consumers opt for cheaper ways of eating out. Reference: http://www. Telegraph. Co. UK/finance/newsletter/retransmissions/4733058 [Recession-finger-licking-good-for-CIFS-UK-chief-Martin-Shaker. HTML The chain of fried chicken stores, which currently employs about 20,000 people in its 760 British stores, said it was making an investment of up to mm in an expansion drive that will see it open between 200 and 300 restaurants in the next three to five years.
Reference: http://WV. Independent. Co. K/news/UK/home-news /offshoot-nation-kef-bucks-trend-with-9000-new-jobs-1623799. HTML KEF china: After six months of labor negotiations, KEF China raised minimum monthly wages to approximately $0. 82 hourly, it doesn’t seem much but it is nearly a 30% rise KEF accounted for 40% of China’s fast food market across almost 4,000 restaurants, and there were another 16,000 planned. The chain had localized the menu sufficiently to appeal to the Chinese palate, but kept the restaurants American enough, giving diners an affordable way to live the ‘Western dream’.
Cuff’s sales in China crashed 36% in April. Some of it was due to Bird Flu fears, but sales were falling before the news of HON. broke. The discovery of excessive levels of antibiotics in KEF chickens had already harmed the brand’s image of a good safe meal and the novelty factor of KEF was also wearing off for many of China’s consumers, especially those in the big cities. Reference: http://skyjackings. Com/blob/china-fast-food-fast-changes UP This task will be describing the political, legal and social factors impacting on business activities of my two selected organizations and their stakeholders. LAID And NASH) LAID: Political factors- Laid, short for “Albrecht Discount”, operating in a globalizes environment with stores all around the KICK. It is a German multinational headquartered in Essen (reference). Hence Lid’s performance is highly influenced by the political and legislative conditions of these countries, including the EX.. Legal factors-The UK market is highly regulated which makes market entry for Multi-national difficult. European commission has made displaying nutrition facts of eatable products mandatory for retails industry.
EX. wide standards will help consumers to a more balanced diet. Most companies already show nutrition facts on their products. Government legislations and policies have a direct impact on the performance of Laid. Social Factors- Auk’s population is shrinking and aging. Impact of population shrinking on UK could lead to shortage of labor in the market place and rising expenses in services like medical services, education services. Eventually government will have to cut down on benefits and pension, or increase tax to provide to pay higher contributions and health insurance.
The trend of rising expenses is affecting Auk’s shoppers buying behavior, and affecting their nature ND forcing them to compromising on quality. Political factors- Although all the major political parties pledged to protect the NASH from spending cuts, after a period of unprecedented growth there is the prospect of a three-year real-terms funding freeze, or close to it. This would be the most austere period for the NASH in over thirty years. Legal factors-When the coalition came to power, they said they would protect the NASH budget. They did, but only just. Funding in England is rising by 0. 1% a year during this parliament.
The situation is little better elsewhere in the KICK. That is the longest period of flat growth in the history of the NASH and for a service that is used to average rises of about 4% a year it feels much more like a cut. Social factors- many large supermarkets are selling cheap fast food and alcohol which effects peoples health, which means more people need treatments so the more people needing treatment the more people are going to be waiting to get treated, which leaves people feeling annoyed and because NASH is seen as a “Provider” of health care people start blaming their health problems on NASH which gives them a bad reputation.
