Business and the Environment in Which It Operates in

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| 27/09/2012 | | | | Business and the environment in which it operatesChapter 1 - Assessment | | | | | Stephanie Buah | SM1282 | Business and the environment in which it operates Chapter 1 - Assessment In this chapter, I am going to talk about the businesses and the environment it operates. This assessment is about SurgiCo and how it meets costumer needs, and how it operates in its changing environment. SurgiCo makes producer goods. (a) What does this mean? Producer goods are goods and services such as raw materials and tools produced by individuals or group of individuals to make consumer goods. SurgiCo is a business which designs and manufactures surgical (surgery) instruments. Its aims are to be the world’s leading supplier of high quality and cost-effective instruments. SurgiCo is a private sector business. (b) What does this mean? Private sector is a business organization owned by individuals or groups of individuals. SurgiCo is a private sector business; its objective is to make profit and to survive. (c) Suggest how SurgiCo meets costumer needs. Businesses have to people’s need and wants. Needs are the requirements for human survival (water, food, warmth, shelter and clothing). If the needs aren’t sufficient, then humans won’t continue living. SurgiCo must make good quality surgical instruments, so that when surgeons make treatments of injuries and disorders of the bodies by incision, it will be successful. If the instruments aren’t sharp and isn’t good quality, the surgery isn’t going to be successful and the patient might die. SurgiCo also has to make the price rational so that surgeons will be able to buy it to help people. (d) Identify two stakeholders in SurgiCo. A stakeholder is an individual or group that is interested or concerned in the operation of a business, they also make deposits

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