texting. Question 2.2. (TCO 2) All of the following describe retailing except (Points : 5) A retailer is a sales intermediary. Many manufacturers sell directly to consumers and through wholesalers and retailers. E-tailing makes it easier for a manufacturer to sell directly to customers by cutting out the intermediary.
* Retailers- There may be owned by the manufactured or independent of the manufactured. They sell directly to the consumer to make a profit. Sometimes they buy products directly from the manufactures. * Wholesalers- These range from cash and carry outlets, which offer minimal service, to full function wholesalers, which provide credit, delivery and technical advice. * Jobber- these may represent the manufacturer, retailer or the wholesaler.
P1 – Describe the current business travel environment The Role of the Business Travel agent description: | The role of a business travel agent is to book accommodation and arrange the travel of business travellers. Also provide them with accommodation that provide business services such as meeting rooms as well as arrange them with transport from airport to hotel and any other events or conferences they have to go to. | Independent agencies description and organisation example: | An independent travel agent is an independent business, which is not part of a chain and is often managed by the owner and a small team of staff. They also include business travel agents that are often independent and they specialise in business market. Some of the agents provide only business travel whilst others provide both business and leisure to clients.
Consequences and solutions to cash flow problems Factor | Why It Causes a Cash Flow Problem | Low profits or (worse) losses | There is a direct link between low profits or losses and cash flow problems. Remember - most loss-making businesses eventually run out of cash | Over-investment in capacity | This happens when a business spends too much on production capacity. Factory equipment which is not being used does not generate revenues – so is often a waste of cash | Too much stock | Holding too much stock ties up cash and there is an increased risk that stocks become obsolete (i.e. it can’t be sold) | Allowing customers too much credit | Customers who buy on credit are called “trade debtors” Offering credit to customers is a good way to build revenue, but late payment is a common problem and slow-paying customers put a strain on cash flow
While Wal-Mart's methods are under scrutiny for the seeming forceful nature, but in reality they just have the power to push suppliers around and pressure small businesses to the brink. The retailer is brutally honest and straight forward about what they need and what they can get in their business ventures. Wal-Mart creates low prices by the threat of outsourcing and pitting suppliers against each other. If a supplier wants to change the terms of their agreement with Wal-Mart, they will simply be shoved aside and replaced by someone who will do what Wal-Mart wants. In order for small businesses to really gain an edge they have to diversify their products and exploit local suppliers, cash in on the advantage of a better enhanced customer experience, and with interaction within the nearby communities.
This action demonstrates a lack of interest to aid the less fortunate in the community, as well as failing to increase their customer base. The less fortunate members of society also have to shop for groceries, and they most certainly have a choice where to make their purchases. While Company Q management is making the decision to throw the food away, this results in revenue loss to the company. Shareholders are not likely to invest in a company which prefers to lose revenue rather than contributing to society,
But consumers aren't helping their fellow countryman earn his own living by buying these imported items. Consumers are giving their hard-earned money to Walmart to go back to China to buy more items. (Smith & Young, 2004). Walmart has created new jobs for people when they open new stores, but they are underpaid jobs. Many of the positions are part-time, therefore, they are positions without benefits.
Part A Sole Proprietorship Sole proprietorships make up the majority of small businesses and are the most common but can also include multi-million dollar businesses as well. When an individual person decides to conduct business they form a sole proprietorship. The type of business can be a small mom and pop stores, an individual who sells goods on eBay or an individual that runs a multi-million dollar auto body shop company. Some sole proprietors obtain business licenses and others who might make hair clips to sell them to friends and family might not. If they operate under a factious business name or sell goods or services requiring a license then the business files for licensing according to the nature of the business.
Target Corporation Target Corporation is not just a department store with great value items. Target’s organization is a company who values their guests outside of their stores and they are committed to their team members. Target’s goals and mission statement “To make Target the preferred shopping destination for our guests by delivering outstanding value, continuous innovation and an exceptional guest experience by consistently fulfilling our Expect More - Pay Less ® brand promise. We are guided by commitments to great value, the community, diversity and the environment (Target.com, n.d). A quote by Peter Drucker sums it all up for Target corporation, “Marketing and innovation are the two chief functions of business.
They are a discount store with some locations offering grocery items as well. The particular store that I am discussing is strictly a discount store. K-Mart is owned by Sears Holdings Corporation. Sears Holdings Corporation lists their Vision as the following: “We are committed to improving the lives of our customers by providing quality services, products and solutions that earn their trust and build lifetime relationships.” Their Mission is to: “Build customer relationships, make more money and improve every day.” Although, K-Mart/Sears Holdings states these as their Vision and Mission, I have found that at their stores they may have not read the statement. During the past few months I have visited K-Mart many times to make purchases as the location is very close to my employer.