...Factors that influence a business I will be looking at social, political and legal factors that influence a business and the effects the factors will have on the business. Social factors The social factors that effect a business fall into five categories. The first is demographic, the things that fall under this are the aging population, population and globalisation. The aging population effects businesses because the retirement age has gone up so there is a lot of older workers. While this means that employers can keep their employees for longer which means they will have experienced workers and won’t need to spend time and money on training new employees. (http://www.telegraph.co.uk/finance/jobs/10302875/Older-workers-still-have-much-to-offer.html) This article points out the benefits of older workers to the businesses they will work in. However older workers would struggle with manual labour jobs, so they couldn’t be employed to do this. The way these types of companies would work around having older workers is to find a physical fault with their performance so they can be fired. They have to do this because they are not allowed to fire someone just because they are old, this is due to the Equality Act which makes them unable to discriminate. Finding a medical reason such as poor sight or bone problems is how businesses work around this. If discrimination does take place against older workers then these workers will be less motivation and inclined to go to work so this...
Words: 9654 - Pages: 39
...P6 – Present a realistic business plan Task 1 - Introduction Name of the company and a brief history/description of the service that is being provided and who is the person behind the business – why does he/she want to set up the business, what skills would he be able to bring to the business etc. Are these the skills typical of those of an entrepreneur? Explain that you are going to investigate a new business venture and prepare a business plan. Explain why is planning important? Task 2b - Aims and Objectives What are aims and objectives? What are SMART objectives? Why is it important for a business to set aims and SMART objectives? What type of aims and objectives should the business have? For each aim and objective you have to say why they are important /relevant to the business. Task 2c - Stakeholders Explain what stakeholders are. * List the different stakeholders in the business. * Explain why these stakeholders are relevant to this business. * How will the objectives affect the different stakeholders? Task 3a – The Competition and secondary research Explain why it is important for the business to carry out research into what the competition has to offer. i) Who is the main competition for the business in this area? Go on to Google or www.yell.co.uk and look for three different companies. Choose one similar business in Tewkesbury, one in Cheltenham/Gloucester and one that is slightly different...
Words: 808 - Pages: 4
...Unit 2: Business Resources P6 Introduction In this task I will illustrate the use of budgets as a means of exercising financial control of east ham shipping. Fixed cost Fixed costs are the expenses that do not change regardless of the activity of a business. For example Eastham shipping has to pay rent and utility bills and all of their overheads regardless of sales or profit. Variable cost Variable costs are costs that can change depending on the activity of the business such as production volume and sales. An example for east ham shipping may be the cost of their fuel. Since fuel prices change due to supply and demand this can be a variable cost. Fuel usage can increase or decrease due to the amount times East ham shipping has to ship Items. Semi variable cost Semi-variable costs are made up of different fixed and variable components. Semi-variable costs are fixed for a certain limit of production or consumption once this limit has been exceeded the cost then becomes a variable. Step cost A step cost is a fixed cost within certain limits. Step costs are expenses that stay the same until a level of activity has been reached. For example if in East Ham shipping employee receives between zero and a certain amount of orders to process then the company will only need one employee. However if this limit is exceeded then East ham shipping will need to hire an extra employee A budget is a plan of expenditure usually tied to a fixed period of time as well as different...
Words: 271 - Pages: 2
...P1 Explain different types of business information, their sources and purposes 1 P2 Present complex internal business information using three different methods appropriate to the user’s needs 2 P3 Produce corporate communications 2 P4 Evaluate the external corporate communications of an existing product or service 2 P5 Explain the legal and ethical issues in relation to the use of business information 3 P6 Explain the operational issues in relation to the use of business information 3 P7 Outline electronic and non-electronic methods for communicating business information, using examples for different types of audience 4 M1 Analyse different types of business information and their sources 1 M2 Analyse the legal, ethical and operational issues in relation to the use of business information, using appropriate examples. 3 D1 Evaluate the appropriateness of business information used to make strategic decisions 1 D2 Evaluate the effectiveness of business information and its communication as key contributors to the success of an organisation, using examples to illustrate your points. 2 General comments on assignment: Grade Awarded Distinction Merit Pass Points: 70 80 90 Signed (teacher) Date Students Name: _______________________________ Teachers...
Words: 870 - Pages: 4
...What resources does Argos use? 2.1: Describe the main physical and technological resources essential in the operation of a selected organisation by outlining the following: A): Resource used: Physical Resources | Technological Resources | P1. Equipment | T1. Music | P2. Premises | T2. Software licences | P3. Shelves | T3. Tills | P4. Forklift | T4. Protection via patents | P5. products | T5. CCTV | P6. Trolleys | T6. Online catalogue | B): How each resource is being maintained / protected? Physical Resources P1. Equipment Equipment is what is used by businesses and organisations to help them get the job done. For example Argos keeps these by using stuff such as shelves and tables to store the items on. Argos keeps their equipment by having insurance on most of the expensive equipment such as Laptops and Computers etc. P2. Premises Argos has have hundreds on stores so they would have Subcontractors to maintain the stores, for instance if there was an emergency the manager would call the shops subcontractor to provide immediate assistance and the subcontractor should be able to attend within a maximum of 1 hour. Also CCTV is a form of security to help subcontractors maintain security and safety as people monitor these cameras P3. Shelves/Tables Argos use Shelves to store All their products in and to organise them behind the till so when a customer order is ready they can pick up their products after...
Words: 910 - Pages: 4
...(P6) Adopt suitable procedures and policies in providing support for an activity. Office Security Access to the offices will be strictly controlled, and visitors will be permitted access through the Receptionist. The front door will remain locked outside office hours, and suitable security measures taken through the use of alarms and intruder detection systems. Movement of equipment will be controlled by procedures operating under the Fixed Assets procedure. All visitors to the premises will be issued with visitors’ badges at the reception. Badges must be displayed at all times on the premises. Employees should escort any person on the premises who is not displaying an identification badge back to the reception. Visitors will remain at the reception until the appropriate member of staff is available to escort them in and out of the office area. To assist in maintaining office security, the last employee to leave the office should ensure that all entrances are locked. No money or valuable property should be left unattended. In the event of a fire or emergency, staff should leave their workstations immediately and not stop to clear papers or collect personal belongings. Staff should note the location of fire exits and extinguishers. In the event of fire, lifts must not be used. Information The confidentiality of the Secretariat’s business is to be maintained at all times. All letterheads, forms, and other stationery bearing the logo of the College...
Words: 397 - Pages: 2
...P6 - Describe how political, legal and social factors are impacting upon the business activities of the selected organisations and their stakeholders. Political Factors: Tesco Government support with an organisation as big as Tesco's there will be many topics that may affect them. For instance political. This could include government support, provide, enhancing skills of the working population of Tesco's which may include training days or induction days if you have just been previously employed. The main factor could be government support which has to routes that it can go down. Direct support or indirect support which also includes the fiscal policy which is linked with taxes, vat and cooperation tax. Loans may be offered to Tesco if they are struggling with been able to spend money on buying new products and better products. For example, during the recession Tesco might not be doing as well as they need to be and they might not be able to spend much money on new things which would increase the amount of money they make. They may then take a loan out from the government so that they can afford what they need to buy. However, they do need to pay this back as well as the interest rate. So for example if Tesco had taken a loan from the government which were £1000 and the interest rate was 5% Tesco would have to pay the government back with £1150. However Tesco don’t normally take loans out because they are never short of money as they are such a big global organisation. ...
Words: 2745 - Pages: 11
...different missions for PA et for Private companies + Cf. p4 $4 “nowadays… industrial activities”. For def°: sum up p4 in 3 points + $5.1 « They rent… port dues “. More commercial behaviour, try to make more profit. 6) But proposal: Beyond the landlord: difference, definition (caracteristics and arguments in favour) P5, $5.1 : « some pA… and markets. » The port is involved in more commercial activities and gets involved in the field of private companies and markets. 7) Our solution can help combining the 2 goals of PAs (cf p5): Goal n°1: the one every port is looking for (sustainable economically) Goal n°2: the one we develop to come to a beyond the landlord approach (efficiency to generate revenues) 8) How to be beyond the landlord? P6 1st table for theory and exemples for every point in table p7 Use examples of other ports : « in Singapore they did this and that » (table p 7) 9) Advise some activities: Logistics: develop transport by train: less time to load and unload, economic solution + Sustainable: focus on sustainable development (multimodal transport by train, barge after cargos: general awareness today, cies ask for sustainable supply chains Internal communication: interconnectivity: develop a software to improve...
Words: 382 - Pages: 2
...situation will make decisions and keeping best interests in mind for people. Government initiatives are when the government can support business through grants and tax reductions. The government have their own initiatives for companies like Asda and these are the health eating and fit for life. These are campaigns that Asda will try to support then try to receive more funding from the government for advertising etc. Also when the government chooses investment finance this then involves selling part of your business shares to an investor. The investor will then take a share of any profits or losses Asda make. The government may change the tax rates up or down in an effort to try an boost the economy. An example of this is VAT which means all non-food will need their labels changing which could potentially increase profitability. `The international monetary fund describes itself as ‘an organisation of 188 countries that works to foster global monetary cooperation. It also works to secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. Legal Impacts The legal impacts are that Asda must follow the law. The legal frameworks is where the business chooses the way it operates. This will determine who has what role and share to the business. It will also determine relationships between investors and employees etc. Consumer protection is when a group of laws and organisations...
Words: 772 - Pages: 4
...P5: Describe the influence of two contrasting economic environments on business activities within a selected organisation. M2: Compare the challenges to selected business activities within a selected organisation, in two different economic environments. This assignment is asking me to describe the influence of two contrasting economic environments on business activities within a selected organisation. Nike is a global brand specialising in the design and manufacture of athletic apparel, footwear, accessories and equipment; it is headquartered in the United States, Europe, and the Asia Pacific Region. Its products are available through over 20,000 retail outlets, including those in its own footfall outlets, e.g. Nike Factory stores. This study considers the contemporary business environment of Nike using a PESTLE approach, paying particular attention to any human resources management (HRM) issues that may arise under each heading. Overall, it is argued here that Nike has attempted to address various business and social challenges by harmonising its value proposition to ‘Consumers, shareholders, business partners, employees, and the community.’ There are many external environmental factors that can affect your business. It is common for managers to assess each of these factors closely. The aim is always to take better decisions for the firm’s progress. Some common factors are political, economic, social and technological...
Words: 791 - Pages: 4
...Finally, your Editor has asked you to produce a report to your readers which discusses the business activities of your global organisation. You are to report on the following issues in a way that is easy for them to understand. • Describe how the main political, legal and social factors effect the business activities and the stakeholders of the organisations described in P3 & P4. (Drayton Manor and your chosen Charity). Business activities should include any activities carried out by the organisation to achieve its purposes. Describe how political, legal and social factors are impacting upon the business activities of the selected organisations and their stakeholders (P6) • Select at least three business activities from those you identified. • Analyse how each of these has changed because of political, legal and social aspects of the business environment. (Why has the activity changed and how and why has this affected the organisation?) Analyse how political, legal and social factors have impacted on the two contrasting organisations (M3) Make a list of your selected organisations aims and objectives. Evaluate how future changes in economic political, legal and social factors, may affect the strategy of the organisation. Evaluate how future changes in economic, political, legal and social factors may affect the strategy of your organisation. For each factor you will need to research future changes. (E.g. economic – inflation; new laws; government...
Words: 273 - Pages: 2
...P6 – Imogen Durston For P6 you must develop a coherent marketing mix for a new product or service. Evidence for P6 Topshop/Topman has contacted you to launch a new range of children wear. They have asked you to develop a coherent marketing mix for the new products and service. The marketing mix can be an Information sheet/Word Document and should include the 4 Ps along with an Introduction to the technique. Introduction – the product I am creating for Topshop is a children’s clothing range. I am going to call this TopKidz. Products from this range will be sold online and in all Topshop stores. To promote this new range I am going to use celebrity endorsement and TV adverts to attract customers. This range will appeal to parents as well as children and I will ensure this happens by making the clothes stylish and affordable for the everyday family. * The objectives of developing a mix (support brand building, satisfy needs and aspirations of targeted group of customers). | * The importance of need for cohesion of different elements of the marketing mix | TITLE - TOPMAN/TOPSHOPS CHILDREN WEAR The name of the new range – TopKidz. * Product: product range; benefits versus features of product or service for targeted customers; concept of product life cycle.My product range is a new, stylish, affordable children’s wear range that will appeal to both the parents and their children. The benefits of this new children’s range is that all materials that...
Words: 818 - Pages: 4
...Unauthorised modification of contents on computer. Damaging the operation of a computer, a program or the reliability of data. This also includes preventing access to any program or data. A virus could be an example as it modifies or destroys the user’s files. Consumer credit act 1974 • Customers paying by credit card are protected by this Act for payments up to £25,000. • If a payment is not made by the customer the bank will pay the business. • This Act also permits 14 days period whereby customers can change their mind about purchase. • Good for the customer but not for the business because they will have to refund the customer even after the purchase has been completed. This requires businesses that lend or offer goods or services on credit to be licensed by the office of fair trading. The consumer credit act protects the consumer when faulty goods that are damaged during shipments or ones that don’t work properly. Customers that are paying by credit cards are protected by this act. Trading standards The trading standards act is there to maintain fair trading with customers and businesses. These acts also include the: • Trade Descriptions Act...
Words: 565 - Pages: 3
...P6 – Explain the operational issues in relation to the use of business information. In this essay I will explain how a business such as rent a car enterprise deal with operational issues and also how their employees manage to In my research I have found that rent a car enterprise receive massive amounts of information. However, some information could possibly be more important than others, as a result the following policies have to be put in place so that the information is managed accurately. The first policy is security data, this is effective because it protects database from any person who tries to hack into the system without the right details or legally. Secondly, backups: this is the process or data that has been copied so that it may be used if the original data stored is lost or stolen. Thirdly, Health and safety regulations: All organisations must follow this policy as it ensures and prevents accidents or injuries in the workplace. And lastly, business continuity plan set of documents, instructions and procedures which enable a business to respond to accidents or emergencies and threats without any stoppage or hindrance in its key operations. Now, I will write about how a business such as rent a car enterprise keep their data safe and the benefits of using these ways. Rent a car enterprise can download an anti-virus software on their computers which prevents hackers from gaining access to any of the company’s data, also increasing security by providing log in and...
Words: 647 - Pages: 3
...Factor (Political, Technological, Social) Name of organisation 1 impact on business activities and stakeholders. Name of organisation 2 impact on business activities and stakeholders. Consumer protection (Social) Consumer protection is a group of laws and organizations designed to ensure the rights of consumers as well as fair trade, competition and accurate information in the marketplace. This also can be a political factor as it makes the information of the business correct to make sure the business is selling items honestly and fairly. Tesco uses Consumer Protection so that they do not advertise goods as something they are not and to make sure they have described the products correctly to the customers. This can affect Tesco as a business because if they were to sell products to Customers that are described as something else Tesco can get in to problems not following the consumer protection act. They would be heavily fined, which can then lead to bad publicity or some of Tesco's outlets can get closed which could mean that the business would lose a large part of its loyal customers and this could mean that the businesses reputation can go down. Tesco gives Customers the chance for a 28 day refund for goods that they do not want which means that the customers are able to return faulty goods that they have brought from the store or if they feel they do not want the product. This means that Tesco are following the law. This gives the customer the assurance that Tesco are doing...
Words: 4275 - Pages: 18
