The term ‘business’ is used to cover organisations as diverse as multinational companies and small local businesses, as well as organisations in the voluntary sector. Businesses have a wide range of purposes. Some supply goods and services, others manufacture goods. Some want to make profits to satisfy their shareholders, others do not. Businesses contribute to the national wellbeing and the unit considers the purposes of these different businesses.
Mayfair Sports, based in Kingsbury, North West London, is a local, private limited company that operates in the tertiary sector. Being a local business in the tertiary sector means that they trade in one area, providing goods for sale to the local community. This helps them to achieve their business purpose which is ‘to provide the local community with affordable sportswear, as well as school uniforms and PE kits for pupils of the surrounding schools’. As a private limited company, Mayfair Sports do have shareholders; however, their shares are not available to the general public and have been sold to a select few family members of the business owner. Whilst Mayfair Sports only has a select few shareholders it does, in fact, have numerous stakeholders, all of whom can have an influence on a business’ purpose.
Private companies have a relatively small number of shareholders and do not offer or trade shares to the general public. The Purpose of a Limited partnership organisation is to make profit, Limited partnerships are usually owned by two or more people, which they finance and run join tly for personal gain, in this type of organisation. Profits are shared equally. A Public Limited company (PLC) this organisation is similar to a structure of a private company, however their purpose involves a more long-term strategy for profit making. Shareholders own PLC’s, and unlike private limited companies these are advertised to the public.
By the end of this unit you should understand: • The range of different businesses and their ownership. • How businesses are organised to achieve their purposes. • The impact of the economic environment on business. • How political, legal and social factors impact on a business. Scenario A bank wants to put together an information pack to help students understand the business world and have asked you to put certain parts of the pack together.
Business Entities, Laws and Regulation The intent of this paper is to discuss three business scenarios and determine the business entities that will serve them best in their respective industries. In addition, each business will identify how best to control the business, taxation, adhere to employment laws and regulations, and address any possibly liability concerns that may arise. We will illustrate how each business can organize and be successful. The first scenario involves Lou and Jose who plan to start a restaurant and sports bar. Lou and Jose do not have much money; however, they do have an investor.
Discount Customers- Discount customers are also frequent visitors but they are only a part of business when offered with discounts on regular products and brands or they buy only low cost products. More is the discount the more they tend towards buying. These customers are mostly related to small industries or the industries that focus on low or marginal investments on products. Focus on these types of customers is also important as they also promote distinguished part of profit into business. Wandering Customers- These are the least profitable customers as sometimes they themselves are not sure what to buy.
P1: Describe how marketing techniques are used to market products in two organisations I am working as a marketing assistant for enterprise Bradford for the new scheme that is called Bradford kick-start which the Bradford council are running. The aim of this scheme is to help the local people set up their own businesses by providing support, through experienced and enthusiastic business counsellors, as the marketing assistant I will be asked to evaluate the marketing activities of two companies in relation to a product or a service. The two marketing organisations that I am going to investigate are CAFOD and McDonald’s. CAFOD CAFOD is a charity whose main aim is to generate money from fundraising and other charitable events, to spread equally amongst the poor of the third world and developing countries They fund all sorts of brilliant projects around the world improving many lives and I am proud to be a part of it. They celebrated their 50th anniversary this year.
Describe the type of business, purpose and ownership of two contrasting businesses. Type of business 2 2 1 1 The two different companies I will be looking at are Tesco and The British Heart Foundation. Tesco is an organisation which produces profit by selling goods to the general public, they usually sell food but now they are gradually bringing in other products, for example home décor and clothing. Tesco has different brands within the brand itself, for example they have Tesco’s Finest, Best of British, Cocopia etc; these different brands are what makes Tesco different. They sell products of their own brand and other brands within their store, selling their own brands help create more profit from them as they keep it within the business.
Aldi is a private business which is owned by private individuals, with aims such as to make profit and expand, finance comes from the owners own money and or the businesses profit. Also Aldi is in the ‘Tertiary sector’ which provides services to other businesses or customers by selling the finish product. Aldi is a private limited company (LTD). As well as Aldi are a limited liability business which means that the owners are legally responsible for its debts only to the extent of the amount of capital they invested. The other company I am doing is Macmillan.
They encourage policies that produce widely distributed welfares that anyone can enjoy. For instance, clean air or improvements in public health. On the other hand, private interest groups benefit only a small group of people within their interest group. Hence, public interest groups tend to depend on numerous small donations and contributions of goods and services to maintain their staffs and programs. As public interest groups have developed and flourished, the more successful groups have imitated narrower special interest groups to the extent that they can afford to do so, by utilizing specialized professional help from lawyers, consultants, marketers, and lobbyists.