Business Studies Portfolio - two contrasting businesses.
Tuesday 10th February 2004 Business Studies - Portfolio
In this portfolio I am going to investigate two contrasting businesses and I will be collecting information from each of them such as:
ØTheir main activities, aims and objectives and ownership.
ØHow they are organised.
ØHow they communicate internally and externally.
ØTheir external influences.
The two businesses I have decided to investigate are Richer Sounds and the Tanning Shop.
Richer Sounds
Activities:
Richer Sounds main activities are selling great value hi-fi and other related equipment and providing a great service to their customers. Richer Sounds sell all sorts of equipment such as hi-fi separates, home cinema systems and plasma screen TVs, so they obviously have competitors who also sell this kind of equipment such as Dixons, Curry's and Comet, which is why Richer Sounds always try to keep up with all the new developments and also specialise in specific types of equipment. They are also very good at keeping competitive. They are constantly trying to please their customers and also investigate their competitors in order to improve their own sales by keeping lower prices.
Ownership:
Richer Sounds is an unlisted public limited company, this means they are not listed on the stock exchange and the owner has a limited liability for any debts. Julian Richer decided not to be listed on the stock exchange because if he did then he would lose some of the control of the business to the new shareholders and therefore would have added pressure from them to improve their profits, so if he keeps the company unlisted then he will have the benefit of having full control over the business.
Aims:
Richer Sounds think that it is very important for everyone in the organisation to understand their aims so they can achieve them efficiently. They have made a mission statement, which is explained to all the staff to ensure they understand.
Richer Sounds main aims are:
ØTo provide an excellent service to their
In this portfolio I am going to investigate two contrasting businesses and I will be collecting information from each of them such as:
ØTheir main activities, aims and objectives and ownership.
ØHow they are organised.
ØHow they communicate internally and externally.
ØTheir external influences.
The two businesses I have decided to investigate are Richer Sounds and the Tanning Shop.
Richer Sounds
Activities:
Richer Sounds main activities are selling great value hi-fi and other related equipment and providing a great service to their customers. Richer Sounds sell all sorts of equipment such as hi-fi separates, home cinema systems and plasma screen TVs, so they obviously have competitors who also sell this kind of equipment such as Dixons, Curry's and Comet, which is why Richer Sounds always try to keep up with all the new developments and also specialise in specific types of equipment. They are also very good at keeping competitive. They are constantly trying to please their customers and also investigate their competitors in order to improve their own sales by keeping lower prices.
Ownership:
Richer Sounds is an unlisted public limited company, this means they are not listed on the stock exchange and the owner has a limited liability for any debts. Julian Richer decided not to be listed on the stock exchange because if he did then he would lose some of the control of the business to the new shareholders and therefore would have added pressure from them to improve their profits, so if he keeps the company unlisted then he will have the benefit of having full control over the business.
Aims:
Richer Sounds think that it is very important for everyone in the organisation to understand their aims so they can achieve them efficiently. They have made a mission statement, which is explained to all the staff to ensure they understand.
Richer Sounds main aims are:
ØTo provide an excellent service to their