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Unit 4 P1

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P1

In this initial stage of the assignment I will be explaining types of information that Samsung have and use within their business. Due to the fact that Samsung sell such a wide variety of products I will be narrowing it down to their Mobile Phones department in order to make sure focus can be kept on one particular area.

There are two main types of business information, internal and external.

Internal:

The first key source of internal information is financial data, this is used to analyse the performance of the business as it can give a clear indication as to where the business sits in the market when compared to its competitors. This is good for Samsung due to the fact that they can look at their sales data and then see how they are performing when compared to companies such as Apple or Sony.
Financial data typically consists of profit and loss accounts, balance sheets, cash flow forecasts and also the costs that the business incurs just to name a few. All of these collectively are able to put the business performance into a quantifiable figure.

The Sales department of a business aims to gather information about the customers as well as the Sales records from previous years. The sales data can be placed either in the financial area or the sales area but typically a business will use this information twice as they can gather different results from this information. Samsung can use sales data in order to gain an idea of how popular their mobile devices truly are this can help them to determine whether they need to end one products life or introduce an extension strategy to keep another products life going.

Human Resources is a department that looks after the people with in a business. Any business wants to have a low staff turnover/high retention rate as this means not very many people are leaving the business. HR also deal with recruiting

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