Business Environment
Business environment is all about the combination of internal and external factors that may influence a business’ ways of operating such as: clients, suppliers, its competitors... stakeholders decide to start a business for many reasons: to pursue an interest or a hobby, mainly: to be their own boss. In other terms, people think that being your own boss, mainly as a sole trader gives you many opportunities although there are drawbacks as well. They also have interest in business they want to be successful.
Range of businesses:
Definition
Example
International
A business that operates overseas
McDonald
National
A business that does not operate overseas
John Lewis
Non-profit
A business that has for
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In contrast, if a partner decides to leave the business, the owners will no longer be classified as partnerships and the business will end. When you are set as partnership, the decisions of every shareholder will have to be honoured and if they do not have enough experience, the business could be having troubles. An example of a partnership can be H&M, M&S...
Public limited company: a public limited company has to be registered before it starts trading. The owners of a public limited company are its shareholders; which are the people who have an interest in that specific business and decide to invest in it and start operating, and has part of the shares of the business. A public company has to start off as a private company and when it reaches a certain turnover, it can be turned into a public limited company. In order to be a shareholder in a business, you have to invest a minimum of £50.000, which is required. Each shareholder has a say in the business and they are able to share their ideas when they attend an AGM (Annual General Meeting) every year. The reports of the business are being presented during the meeting, where they discuss about different ideas of how to improve their ways of operating and how the business is doing. A public business is registered in the stock exchange and could be able to buy or sell shares, but it
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| The customers would be influenced because if the company are financially struggling the customers are there only hope to stay profiting. If the company was to go bust it means customers will no longer be able to shop there. The customers would be an external stakeholder, they can get information by advertisements and even check their annual report on the businesses website.
If you want to export goods to a particular country, make sure they have a need for your particular services or product. Most international businesses find multiple countries or locations that have a need for these items in order to ensure a steady and profitable revenue stream.
Phoenix Advertising as a whole has always put our clients first and is well known for our excellent work. As you know, the Roanoke branch had been experiencing difficulties since January of 2015 with regards to overworked and underpaid employees and a loss of clients. Productivity had declined by 20 percent over the course of the past few months, and we lost a few key members of our team. In response to our current crisis, I have developed a proposal in order to return Phoenix Advertising to the standard of excellence we
Telephone – A telephone maintains a few different features rather than just receiving and making calls. At work the phones that we use are often different to
1. In relation to your current business environment (or one that you are familiar with), identify at least two different types of information technology that may be used when completing work tasks.
There are several different types of business ownership which are most commonly used in business’ and company’s today, these include; Co-operative which is a business owned by its employees, Partnership which is a business owned by between 2 and 20 people, Private limited which is a business owner by a small groups of people who have shares and a Public limited business is owned by private individuals by shares bought and sold on the stock market. A charity is a business with the purpose to help the public, the government is a business owned by the government and lastly a sole trader which is a business owned by only one person.
There are a number of guidelines and procedures in place to enable me to do my job not only to the best of my ability but in a professional manner. Whilst on the reception area, there are procedures that need to be followed relating to various aspects of the job including correct procedures to greet visitors, answer the telephone, dealing with incoming and outgoing mail, booking meeting rooms as well as many other procedures. All of the relevant procedures are kept in a file at the reception area where any member of reception staff can revise them as and when necessary.
• The first thing you need to do is save a copy of this document, either onto your computer or a disk
In this task I’m going to analyse the figures on cash flow that I created in P3 and justify why you think the business might have problems also provide range of solutions.
Please note that this Assessment document has 8 pages and is made up of 7 Sections.
A way of doing this task efficiently would be to keep a log setting out of the roles that you and the other members of the team have within the team in which you are working as a part of.
M1 - Compare the purposes of the different documents used in the selection and recruitment process
P1 – Explain the effects of changes in the economic environment on a selected business.
In this assignment, I will evaluate the reliability of break-even analysis in estimating budgeted activity levels for a selected organisation.