...P5- Describe the influence of two contrasting economic environments on business activities within a selected business origination. For this task I will be using the retail store Tesco as my business of choice as to see how they managed in the last 20 years. The two economic environments that effected the company were the recession and growth periods in the UK economy. In 2011 Tesco suffered its worst six months in the UK over the last 20 years. Reasons for this includes customers cutting back on electronics, food and other items that Tesco heavily depends on selling to make a profit. An economic growth is an increase I the production of goods when there is more demand for the products due to income rising from the customers. This affects Tesco in a positive way as the costumers are willing to spend more money on their wants and therefore increasing the profit of the company. Recession is a period of time where there is a general economic decline. It is when the oncome of the costumers decrease and the shops that benefit from the amount of spare money that they have to give to buy their product slow down the production of merchandise. Recession hit the UK in this fashion in 2007&2008, this put many businesses like Tesco in danger as they’ve had to decrease most of the prices of the products that they are selling for their costumers to be able to continue buying their products as people were looking to get more for their money. The customers look for products with a...
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...There are many things Tesco’s can do to improve their operations ethically, which I am going to explain below how. Tesco’s can differ the way they operate, by becoming greener They should show more keen interest and be environmentally conscious by having green policies, less packaging, recyclable bins for the public to use and charge for bags; encourage people to reuse their bags. Moreover all their stores should have sustainable environmental technology such as solar panels, to reduce the amount of electricity used (saving energy), which will reduce their carbon footprint too. Likewise they can join originations like “Friends of the Earth, Environmentalism and Green Peace” etc. This is a social problem because it encourages people to eat ‘fast food’ type products such as pasties, sausage rolls, pre-packaged sandwiches and microwavable take-away items such as burgers & hot dogs etc, which all have high percentages of saturated fats, sugars and salts. These ‘fast foods’ are eaten because of their convenience and due to time shortages from working longer hours these food are the easy option. This implicates less healthy diets and obesity in the UK population. However, I do believe that Tesco could improve upon this by ensuring that they introduce healthier foods which may encourage customers to purchase the healthier option which is the same price as the fast food and some supermarkets tend to have healthier and organic foods more expensive than the fast foods,which can then...
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...M2:The importance of employability, and personal skills in the recruitment and retention of staff Telecommunication Sector (Alcatel Lucent) Employability and Personal Skills Employability is defined as a person's own capability for acquiring and maintaining employment Employability depends factors like the knowledge, personal skills and abilities possessed by the individual and the way he presents those assets to employers. In other words it is the process of self assessment of an individual which can be done by himself or by some other person or agency. Importance of Employability and Personal Skills - In the Recruitment and Retention of staff : While in the process of hiring and selecting individuals in an organisation, the management has to identify a certain selection criteria. This selection criteria consists of a list of abilities and skills, in addition to certain education standard an individual must possess if he has to qualify for that position. An individual who has acquired certain skills like computer knowledge (hardware / software) will be more valuable for an organisation than the one who does not have this skill. The organisation will not have to train the individual who already has this capability. The organisation will get a “Ready Made” asset which can be utilized straight away on a project. The Alcatel can also short list those individuals with certain basic knowledge or skills in a specified field. The individuals can be trained on...
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...Unit 3 M2 Tesco M2: Explain the limitations of marketing research used to contribute to the development of a selected organization’s marketing plans. Tesco marketing team experienced some limitations during this market research. One of the limitations of market research to Tesco is cost. It is expensive to organize primary research. For example, it costs a lot to print out questionnaires and pay people to carry out the research. Also, it is expensive to conduct focus group. This affects the profit of Tesco as they have to pay for everything related to making questionnaires and then analyzing their results. A secondary research is a lot cheaper as they will have to collect data from already existing sources and previous data, so it will cost less and it will be done quicker. Another limitation of market research is validity. Validity is the degree of accuracy of the measurement. The information collected must always be valid, otherwise Tesco cannot use it and it is pointless to collect the information which is not valid. Some of the ways in which Tesco are limited by validity are, for example using questionnaires, because people might not give the right information; using interviews, because people might feel shy or intimidated to say their true opinion during the interview; using focus groups, because people might not feel comfortable due to fear of discrimination to say what’s on their mind; using internet, because it changes constantly, so information obtained might be...
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...Activity 1 – P5 Every business has one goal, to maximize its profit, this therefore can be done by analyzing the demand of consumers, providing appropriate supply, along with maintaining quality of goods and services. However, there are many factors that affect this simple operation. Owing to these economic elements, the sales, prodcution, and procurement of a business get adversely impacted. These factors include: * Demand and Supply * Rate of interest * Globalisation * Competitive pressures The factors I have chosen to write about is Demand and Supply and Globalisation. The term ‘demand’ is used to describe the quantity of a good or service that consumers will buy at a particular price. Consumers will buy more of the same product when it is cheaper than when it is more expensive. The demand can be affected by a few factors like: affordability, level of income etc. The ‘supply’ of a product is the quantity that a supplier is willing to provide at different prices. Typically suppliers will supply more at a higher price rather than a lower price. Therefore when the demand increases, then businesses will usually try to supply more. The ease with which they can increase supply depends on: availability of raw materials and labour, logisitcs. The demand and supply are two principle factors that affect...
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...M2 – Assessing the importance of employability and personal skills in the recruitment and retention of staff at Asda In this report I am going to be assessing the importance of employability and personal skills in the recruitment and retention of staff at Asda. Asda are looking for an employee with essential employability skills for the job such as experience dealing with customers. Asda are looking for this skill because you will be dealing with customers constantly throughout the day and may have to deal with customer complaints and queries, it is also cost effective for the company if you already have experience rather than them spending money to put you into training which may not be the best thing for them this is because if they keep putting people into training and they don’t enjoy the job and leave or get fired then Asda will have wasted their money, where as if they find people that already have the experience of dealing with customers they can work straight away and Asda will not have to pay for their training which would save them time and money. Only those suitable for the job will get through to interviews. Asda need to ensure that their staff has a minimum C grade in maths and English at GCSE level. The employer can find this in the application form within the personal statement. From this stage, when accepted, suitable applicants make it to the interview stage where they are assessed on their interview skills, in the interview the interviewer may ask you about the...
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...BTEC NATIONAL DIPLOMA IN BUSINESS UNIT 13: INVESTIGATING RECRUITMENT AND SELECTION M2- My contribution to the whole selection process. How effective was your contribution to the pre-selection interview preparations? Before the selection interview took place I had to prepare a few documents. I also had to complete an application form for this role play as I was the interviewee. My pre-interview contribution to the preparations was really effective as I completed the application form as soon as it was given to me. Also I made a Curriculum Vita along with a covering letter to go with it for the job position I was applying for. Before the interview I had to have some knowledge on reed, by this I read up some back ground information on the company. Finally I prepared for questions which will be asked from the panel and which I will ask them. I believe my contribution to the pre-selection interview preparations was excellent as I done everything which I suppose to do. Were you able to work effectively in a group? I was able to work effectively in a group as we did not have any problems working with any group member. In my group we cooperated effectively with each other and played an important part to the success of the interview. Each group member done what they were suppose to do. Working in a group allowed me to see practically how the recruitment process is done by employees in the workplace and do it for myself. Also working in a group enabled me to improve on...
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........................................... 9 2.2 History .................................................................................................................................. 10 2.3 Share Price Performance ...................................................................................................... 12 2.4 Products and Services ........................................................................................................... 14 2.5 Toll Roads ............................................................................................................................ 15 2.5.1 CityLink ......................................................................................................................... 15 2.5.2 M2 Hills ......................................................................................................................... 15 2.5.3 Lane Cove Tunnel .......................................................................................................... 15 2.5.4 M1 Eastern Distributor .................................................................................................. 15 2.5.5 M7 Westlink .................................................................................................................. 16 2.5.6 M5 Motorway ................................................................................................................ 16 2.5.7 Pocahontas 895...
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...Unit 9 – P3 – M2 This assignment will describe the role of advertising agencies and the media in development of a promotional campaign. P3: An advertisement agency is a service that is dedicated to creating, planning and handling advertisement and other forms of promotion for its clients. The President (CEO): The CEO is the main chairman of the company, usually the person who founded the company. Account services: In this particular campaign the Agency appointed the account executive to liaise with the clients. The account executives need to be sufficiently aware of the client's needs and desires that can be instructed to the agency's personnel and should get approval from the clients on the agency's recommendations to the clients. The account manager will develop a creative brief, usually about a page that gives direction to the creative team. The creative brief often includes information about the target audience and their attitudes and behaviours. The creative team will take the brief and, aware of their parameters; develop original copy and graphics depending on media strategy. Media Services: In this particular campaign the media services department may not be so well known, but its employees are the people who have contacts with the suppliers of various creative media. For example, they advised upon and negotiate with printers because the agency is producing flyers for the client. However, when dealing with the major media (broadcast media, outdoor, and the press)...
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...In this assignment I will be explaining the reasons for selecting the particular method of data collection for a selected product/service. The selected product that I will be collecting data for is an anti-depression medication made my HML (Hutchinsons Medical Limited). The data collecting method I’ve chosen is face to face interviews in order to get the respondents full attention and collect data without any distractions. I intend on finding out the respondent’s age, whether they suffer from depression/anxiety, whether they take medication for their depression/anxiety, and which form of our product they would prefer to purchase (roll on, cream, liquid, pills). The sampling method that I chose was probability sampling. I chose this method because it means everyone gets the chance to be picked meaning that the results will represent the whole group of interest. Another example of the fairness in this method is someone reaching into a box full of names and picking one out. The selection process ensures that everyone has a chance of winning. The advantages are that it’s not bias and as aforementioned it represents the whole group of interest. The results can also be used to calculate any further statistical analysis. I rejected non random sampling as it’s an unfair selection process as you get to pick people which makes in an unequal selection process. The people that are picked out might not represent the rest of the group and unlike probability sampling you can’t use the results...
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...P7 outline electronic and non-electronic methods for communicating business information, using examples for different types of audience. Electronic Methods of Communication in Bournville Method | Description | Suitable Recipients | Messages | This method is the communication of information between people by using the text. Furthermore, it is the act of conveying messages and ideas through electronically written information. | A message can be written personally and directly to student or more than one student through WAMedu. This message can come from the marketing team or teachers and directed at students.Why messaging is good for students? It’s a good communication method with students because many of them use this method to communicate and many have cellular devices which makes it easy for them to use WAMedu. | Phone/Telephone Communication | This method is the communication of information between people by using their speech. Furthermore, it is the act of conversing information, theories and emotions by talking through a cellular device with others. This form of communication involves cellular devices in order to convers | Telephone calls are common in Bournville College as they are efficient and example of a source could be the reception calling students at their home in order inform them of about something or to ask them questions.Why Phone/Telephone Communication is good for students? This method of communication is good for communicating with students because...
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...For this assignment I will compare the challenges to selected business activities within my chosen business in two different economic environments. I will analyse whether national demand and GDP are rising or falling and how they are affecting my chosen business. Recession Recession is a significant decline in economic activity spread across the economy, lasting more than a few months. Recession would impact in Rudding Park Hotel due to the fact of recession effects. During recession, as sales revenues and profits decline, they will cut back on hiring new employees. In an effort to cut costs, they are going to stop buying new equipment and to develop new services. As declining revenues show up the price may decline. Dividends may also slump, or disappear entirely. Shareholders and advertising agency may become upset. Shareholders may call for a new CEO and the advertising agency may be dumped and new agency hired. When the stock falls and the dividends decline or stop, the investors who hold that stock may sell and reinvest the proceeds into better-performing stocks. The customers of the Rudding Park Hotel that owe it money may pay slowly, late or not at all. Then, with reduced revenues, the affected Hotel will pay its own bills more slowly or late. Late payments will reduce the valuation of the corporation's debt and ability to obtain financing. The Hotel's ability to service its debt, may also be impaired, eventuating in defaults other debt, further damaging the Hotel's...
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...| | | NET PROFIT | | | III. INTENSITY OF DAMAGE DUE TO INSECTS- Pest | Autumn-Winter(Y/N) | Intensity Of Damage(Low/Med/High) | Spring-Summer | Intensity Of Damage(Low/Med/High | P1 | | | | | P2 | | | | | P3 | | | | | P4 | | | | | OTHERS | | | | | NOTE- 1. P1-FSB, P2- Whitefly, P3-Jassid, P4-Mite 2. Low- 0-10%, Med- 10-40%,High >40% IV. DO YOU USE INSECTICIDE- YES/NO V. INSECTICIDE USAGE PATTERN- Insect | Order of importance | General period Occurrence | Molecule used | Brand | PriceRs./acre | Doseper acre | Time of appl. | Control duration | Criterias considered | Application behaviorN/H | Satisfaction(Y/N) | P1 | | | M1 | | | | | | | | | | | | M2...
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... | | | | | |5th November 2012 |3rd December 2012 |3rd December 2012 | |Qualification |Unit number and title | | | | |BTEC Level 3 National Subsidiary Diploma in Business |Unit 1: The Business Environment | | | | |Assignment title |Similar Businesses in Different Worlds | |In this assessment you will have opportunities to provide evidence against the following...
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...front sheet Qualification | Unit number and title | BTEC Higher National Diploma – Business Management | Unit 1 – The Business Environment | Student name | Assessor name | Mohammed Arif | Mary EC Zafra | Date issued | Completion date | Submitted on | 19/11/2015 | 17/12/2015 | 17/12/2015 | | | Assignment title | BE1: Assignment 2/2 The Business in an Economic, Cultural and Global Environment. (LO3 & LO4) | ------------------------------------------------- Learning Outcome | Assessment Criteria | In this assessment you will have the opportunity to present evidence that shows you are able to: | Task no. | Evidence(Page no) | LO 3 Understand the behaviour of organisations in their market environment | 3.1 | Explain how market structures determine the pricingand output decisions of businesses | | | | 3.2 | Illustrate the way in which market forces shapeorganisational responses using a range of examples | | | | 3.3 | Judge how the business and cultural environmentsshape the behaviour of a selected organisation | | | LO4 Be able to assess the significance of the global factors that shape national business activities. | 4.1 | Discuss the significance of international trade to UK business organisations | | | | 4.2 | Analyse the impact of global factors on UK business organisations | | | | 4.3 | Evaluate the impact of policies of the European Union on UK business organisations. | | | Learner declaration | I certify that the work submitted for...
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