...Business Ownership P1 Organisation 1 – NHS The NHS is a national public sector health service maintained and paid for by the UK. The NHS was founded in 1948 in an attempt by the then heath secretary, Aneurin Bevan, to bring good healthcare to all. It was founded to provide affordable healthcare to the citizens of the UK who need it. Today the NHS has a very good reputation as it continues to provide good healthcare to those in need, they currently employ over 1.6 million government people to achieve this endeavour. The NHS is a national business as it only operates in the UK and only provides its services to those living in the UK. It only operates in the tertiary sector as they provide a service for the public but do not manufacture, sell or harvest raw materials. Because it is a public business it doesn’t make a profit instead it uses it’s funding to help with the financial burden of medical procedures. There are down sides to this for example the NHS don’t always have the most up to date equipment. Because the service is maintained and paid for by the government they are the ones that will be held liable for any problems with the way the NHS runs or if it overspends. The NHS is limited by their annual budget for the year 2015 their budget was £115 Billion. Organisation 2 - Starbucks Starbucks Coffee is a privately owned American global coffee company and coffeehouse chain. Public limited companies become a legal entity whose assets and liability are separate from their...
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...The aim is to describe the different types of business organisation that operate in the UK. This will include a comparison between a Limited Company and a Charity in terms of their ownership, aims, economic sector and main stakeholders. For the report, I have chosen to investigate Sainsbury’s and RSPCA. Sainsbury’s Background information Sainsbury’s Supermarkets is the UK’s longest-standing major food retailing chain, having opened its first store in 1869. The Sainsbury’s brand is built upon a heritage of providing customers with healthy, safe, fresh and tasty food. It differentiates itself by offering a range of great quality products at fair prices with a particular emphasis on fresh food, an ethical approach to business and continuous leadership. Size of business J Sainsbury plc consists of Sainsbury’s – a chain of 504 supermarkets and 319 convenience stores. A large Sainsbury’s store offers around 30,000 products and an increasing number of stores also offer complementary non-food products and services. Business sector Sainsbury’s is currently in the Tertiary and Secondary Sector this is because Sainsbury’s provide services (they have banks), sell Food and also they have their own farm. Main goals and purpose At Sainsbury’s they will deliver an ever-improving quality shopping experience for their customers with great products at fair prices. Their aim is to exceed customer expectations for healthy, safe, fresh and tasty food, making their lives easier every...
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...of Nottingham: | Consumer: | A consumer is an individual/organisation who buys a good/service for their personal use. They are a key stakeholder in some business’ as they are the primary source of their revenue. | A consumer would be interested in DFS, as they want them to produce high-quality, value-for-money products and the after-sales service in order to make any future sales. As they are the purchaser of the good, the business is essentially interested in the needs of the consumer. They can have a huge impact on the business as if they receive a poor quality product it would lead to any future sales being lost. This is vital as like every business, they need to sell in order to survive. In this instance the consumer could be pivotal to the survival if decline occurs. | A consumer would have an interest in The University of Nottingham as they want them to produce high quality service education. As the consumer are the students, they are market the business need to survive. If the educational system failed, then private businesses would fail to survive. This means that the business has to tailor the consumer’s needs for service. | Employee: | An employee is an individual who is hired under a contract of employment to work for a business. This could be Part-time, Full-time. Employees are key stakeholders in the business as they have that particular interest to work there, which should give reason to the companies to work ethically and look after the staff. | The employees...
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...Introduction Marketing- is the action or business of promoting and selling products or services, including market research and advertising. A more simple definition is the right product, in the right place, at the right time, at the right price. It involves a business trying to understand its customers by identifying their needs and produce the products which satisfy those needs. The concept of marketing is that firms should analyse the needs of their customer and then make decisions to satisfy those needs, better than the competition. Nowadays most firms have adopted this marketing concept but it’s not always the case. The philosophy of this concept came around after World War II, when people had to be selective with the products they brought and only buy the ones that meet their needs and requirements but to businesses these would not always be obvious. Now companies have to always keep customers in mind when thinking of a product and the market is so competitive you will need to be the best product out there in that market to have the most chance of being brought. Three simple questions are often used when businesses decided to come up with a new product; what do customers want? Can we develop it while they still want it? How can we keep our customers satisfied? All being very good and valid questions to ask which will help to increase customer satisfaction as they are always in their minds. The two businesses I have chosen to use in order to compare and contrast their marketing...
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...Nationals in Business | Unit Title | Unit 2 – Business Resources (60 hour unit) | Level | 3 | Unit Number | 2 | Unit Credit | 10 | Assignment Title | Describing Recruitment documents | Part Unit | P1, P2 & M2 | Whole Unit | n/a | Learner Name | | Signature | | Assessor | Mark Grant | Signature | | Start Date | 22/10/14 | Submission Date | 12/11/14 | Feedback Date | 26/11/14 | | | | | | | Vocational Context | It is important to understand the purpose and format of different types of documents that are used in the recruitment process, as you will be coming across them when you apply for jobs. This assignment will allow you to develop a good understanding of these documents. Additionally you will possibly need to create them if you are involved with recruiting staff during your career. | The Brief | ------------------------------------------------- (P1, P2 and M2) A family friend has been operating his own small fashion clothing business (KH Fashions) that has been trading for five years. He has decided to expand the business and has asked you to research different businesses.------------------------------------------------- He wishes to take on staff from outside the family, and because he wants to do this in a professional way, has asked you specifically to research how human and non-human (such as technological and physical) resources are used within organisations. | Grading Criteria. | Evidence | What you have to do | P1: Describe...
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...BTEC National Extended Diploma in Business Assignment Brief – ASSIGNMENT ONE Unit title | Unit 41 Business Markets and the Economy | Assignment | Business organisation and objectives | Start date | 10th March 2014 | Draft deadline date | 19th March 2014 | Final deadline date | 26th March 2014 | Assessor | Mr Muhammad | P1 - identify the objectives of a range of organisations | P2 - explain how organisations meet their objectives | M1 - compare the methods used to achieve objectives in two contrasting organisations | P3 - outline the characteristics of the economy in the UK | D1 - analyse the performance of a selected business against its stated objectives | The main purpose of this assignment is to: consider the structure of the UK economy and to explain how business markets operate and shape the behaviour of business activity. | Scenario: Case study given | Task 1 (ALL): Students will identify different organisations and their objectives. Different types of organisation with contrasting aims should be selected. It would be reasonable to expect selection of a profit maximising partnership and a welfare maximising hospital. If published accounts and annual reports are used to investigate organisations it is worth bearing in mind that these documents often only obliquely refer to objectives mentioned in textbooks and prefer softer objectives that are subsidiary to the main objectives. ‘Providing good customer service’ and being a ‘good...
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...Managing New, Remanufactured and Upgraded Products under a Coupon Recycling Environment Xian LI1 , Jihong ZHANG1,† , Xiaosong DING1 , Xiaodong YANG1 1 International Business School Beijing Foreign Studies University Beijing, People’s Republic of China, 100089 † corresponding author: zhangjihong@bfsu.edu.cn Abstract—We consider a two-period production and pricing model under a coupon recycling environment, in which a monopolistic manufacturer is able to produce and sell new, remanufactured and upgraded products simultaneously in the market. To attract consumers to return used products and promote the sale of upgraded products, the manufacturer offers coupons in the recycling process. We focus on the competition between different kinds of products and analyze the manufacturer’s optimal production and pricing strategies as well as the effect of coupons on them. Keywords—remanufacturing; pricing strategy; cost; coupon I. I NTRODUCTION With the advancing high-technology and exacerbation in global economic competition, more and more electronic products possess a very short lifespan prior to becoming outdated. For example, electronic products including mobile phones, MP3-players, digital cameras, tablets and laptops often have a lifespan being no more than one year. In the meanwhile, the shortage in global resources and deterioration of ecological environment makes remanufacturing a popular alternative to the sustainable development of many electronic...
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... | | | | | |Qualification |Unit number and title | |BTEC Level 3 Extended Diploma/ Subsidiary Diploma in Business |Unit 2: Business Resources | |Assignment no and title | Assignment 1 : Know how human resources are managed | |Criteria reference|To achieve the criteria the evidence must show that | | |Task No | | |the student is able to: | | | | |P1 | | | |Task 1 | | |Describe the recruitment...
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...BTEC Business Project |Assignment |2013/2014 | Learner Declaration I declare that all the work submitted for this assignment is my own work or, in the case of group work, the work myself and other members of the group in which I worked, and that no part of it has been copied from any source. I understand that if any part of the work submitted for this assignment is found to be plagiarised, none of the work submitted will be allowed to count towards the assessment of the assignment. |Centre Name: |Westminster Kingsway College |Centre No: |10240 | |Learner’s Name: | | |Learner’s Signature: | | |Assessor’s Name: | | |Assessor’s Signature: | |Date: | | |Date Issued: |3rd February 2014 |Submission Date: ...
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... | |Assignment front sheet | |Qualification |Unit number and title | |BTEC Subsidiary Award in Business |Unit 1 The Business Environment | |Learner name | Assessor name | | | | |Date issued | Hand in deadline |Submitted on | |23 June 2014 |22 September | | | | | |Assignment title |Assignment 1: Type, purpose, ownership and stakeholders | |In this assessment you will have opportunities to provide evidence against the following criteria. | |Indicate the page...
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...issued|Completion date|Submitted on| ||| Qualification|Unit number and title| Level 2 BTEC Diploma/Certificate in Understanding Enterprise and Entrepreneurship|Unit 3: The Business EnvironmentFirst of two assignments for this unit| || Assignment title|| In this assessment you will have opportunities to provide evidence against the following criteria. Indicate the page numbers where the evidence can be found.| Criteria reference|To achieve the criteria the evidence must show that the student is able to:||Task no.||Page numbers| P1|Identify sources of information about the current business environment||1||| P2|Describe how a new micro start-up business relates to the business environment||1||| P3|Describe current trends and how these will impact on a micro start-up business||2||| P4|Describe potential ethical concerns of customers about a micro start-up business||3||| M1|Explain how the changes in the current business environment are likely to impact upon a selected micro start-up business||1||| M2|Explain how current trends are likely to impact on a micro start-up business||2||| D1|Assess the risks and opportunities changes in the current business environment pose for a selected micro start-up business||||| Learner declaration| I certify that the work submitted for this assignment is my own and research sources are fully acknowledged.Learner signature: Date: | Assignment brief| Unit number and title|Unit 3: The Business Environment | Qualification|Level 2 BTEC Diploma/Certificate...
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...Demand and Supply: The Basics 21 FUNDAMENTALS OF ECONOMICS FOR BUSINESS - (Second Edition) © World Scientific Publishing Co. Pte. Ltd. http://www.worldscibooks.com/economics/6794.html Chapter 2 Introduction The most basic, and in many ways the most lasting, lesson to be learnt from “Economics 101” relates to the fundamental concepts of demand and supply and their interaction. These are usually presented in a simple graphical format involving demand and supply “curves”. The word is in quotes because in this chapter, for simplicity, we will actually assume only straightline relationships between price and quantities demanded and supplied. The main issue that is important in reality is the direction of the relationship between prices and quantities. Will a reduction in price lead to an increase in the quantity demanded of any particular product or service? Will an increase in price lead to an increase in supply? And so on. The principal technical tools for analyzing demand and supply conditions in particular markets, then, are the demand and supply schedules or curves. The demand curve shows an estimate or conjecture about the relationship between the price of any particular product or service and the quantity of that product that will be demanded by consumers. It is usually assumed to slope downward, in the general case, for most products and services. In other words, the lower the price of the item, the greater the quantity of it that will be demanded. Technically, this...
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... the market portfolio (P1) and one suggested portfolio (P3) post a positive absolute return of 0.80% and 0.82% respectively which underperformed the active fund portfolio (P2) 0.91%. This report follows various modeling methods in order to back test the performance of the active fund portfolio and compare its performance with that of two other portfolios. The findings indicate that, even though P2 achieves the highest return on the overall performance, the limitations such as the macro environment, the assumptions set, and the Shrinkage method used that accidentally downsizes some valuable stocks in out-‐samples as they are closely correlated are being ignored. By contrast, P3 will probably offer a “middle-‐choice” which will bring a promising and more stable return. 1 Portfolio Modeling and Evaluation: Beating the Market Platinum Fund TABLE CONTENT 1.INTRODUCTION 2.DATA 2.1...
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...BACHELOR OF COMMERCE (B.COM.,) PAPER – 2.1 MANAGERIAL ECONOMICS UNIT – I CHAPTER - I SECTION - I Definition of Managerial Economics Managerial economics refers to those aspects of economics and its tools of analysis most relevant to the firm’s decision-making process. According to MeNair and Meriam, managerial economies consists of the use of economic models of thought to analyze business situations. Some writers consider managerial economics as the integration of economic theory with business practice for the purpose of facilitating decision-making and forward planning by management. The underlying idea of all these definitions is that managerial economics means economics applied in decision-making. So we may consider managerial economics as a special branch of economics bridging the gap between abstract theory and managerial practice. It may be pointed out here that effective decision-making at the firms’ level calls for a careful analysis of a choice between alternative courses of action. Economic theory offers a variety of concepts and analytical tools which can be of considerable assistance to the manager in his decision-making process. In fact actual problem-solving may require many skills and tools which are not available in the traditional economist’s. For example, knowledge of accounting and of statistical concepts and methods, which are not taught in economics, can help the analyses to apply more effectively the economic...
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... | |Assignment front sheet | |Qualification |Unit number and title | |BTEC L3 Diploma/Ext. Dipl. – Business |UNIT 1 – BUSINESS ENVIRONMENT | |Learner name | Assessor name | | |MARY EC ZAFRA | |Date issued | Hand in deadline |Submitted on | |14 OCTOBER 2015 | 15 November 2015 |18NOV2015 | | | | |Assignment No. & title |Assignment 1/2 - The Businesses We See | |In this assessment you will have opportunities to provide evidence against the following criteria. | |Indicate the page numbers...
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