Business Studies, Unit 1: Task 1
Unit 1 - Task 1
This article is about the different business purposes in Southall.
There are many private sector companies in Southall such is McDonald’s. We have all heard about McDonald’s but not realised that it was in the private sector. The private sector includes all the businesses set up an individual or a group of individuals. Although most businesses are in the private sector, the type of business can vary a lot within the sector. Some can be small independent, family – run shops. Others are large multinational companies such as HSBC and BP both which are based in Southall.
McDonald’s is a private sector company which is for profit and offers both services and goods as it is a family restaurant which is a service and offers food which provides goods.
Public sector, you may be surprised how many public sector businesses affect you each day. For example:
· Schools
· Post office
· Network rail
· The met office
There are good examples of the public sector companies because we are affected by them each day.
Villiers High School is in the public sector which is not for profit and offers a service as we are given a free education they don’t get money from us.
Task 2
The purpose of a newsagent is to make profit and the types of business organisation is sole trader. Considering that the business is set up by a sole trader the size of it is micro making the scale of it local. The business is set up to make a living, to make money for a survival. The advantages of a sole trader is that this sort of business is easy to set up – there are no complicated forms of procedures, also the business is very flexible, for example hours worked or stock bought can be altered on a daily basis. However, the disadvantages are that sole traders have unlimited liability. This means that the owner personally responsible for any debts the business creates so may be forced to sell personal belongings, including the
This article is about the different business purposes in Southall.
There are many private sector companies in Southall such is McDonald’s. We have all heard about McDonald’s but not realised that it was in the private sector. The private sector includes all the businesses set up an individual or a group of individuals. Although most businesses are in the private sector, the type of business can vary a lot within the sector. Some can be small independent, family – run shops. Others are large multinational companies such as HSBC and BP both which are based in Southall.
McDonald’s is a private sector company which is for profit and offers both services and goods as it is a family restaurant which is a service and offers food which provides goods.
Public sector, you may be surprised how many public sector businesses affect you each day. For example:
· Schools
· Post office
· Network rail
· The met office
There are good examples of the public sector companies because we are affected by them each day.
Villiers High School is in the public sector which is not for profit and offers a service as we are given a free education they don’t get money from us.
Task 2
The purpose of a newsagent is to make profit and the types of business organisation is sole trader. Considering that the business is set up by a sole trader the size of it is micro making the scale of it local. The business is set up to make a living, to make money for a survival. The advantages of a sole trader is that this sort of business is easy to set up – there are no complicated forms of procedures, also the business is very flexible, for example hours worked or stock bought can be altered on a daily basis. However, the disadvantages are that sole traders have unlimited liability. This means that the owner personally responsible for any debts the business creates so may be forced to sell personal belongings, including the