P1.1 DEFINE ENGINEERING BUSINESS FUNCTIONS.
On the whole, businesses can be very clearly defined and categorised using government and business standards. These categories include, but are not limited to: 1. Size- A company can generally be classified using the companies act 2006 as small, medium or large. According to the Office of National Statistics (http://www.bis.gov.uk/files/file51198.pdf) the definitions of small medium and large companies are based on 3 variables- number of employees, turnover and assets. | Small | Medium | Large | Number of employees | <50 | 50 < x < 250 | >250 | Turnover (£million) | < 5.6 | 5.6 < x < 22.8 | >22.8 | Assets (£million) | < 2.8 | 2.8 < x < 11.4 | >11.4 | 2. Product- manufacturing, service, agricultural. 3. Trading objectives- for profit or non-profit. An example of a not for profit company would be Oxfam, a charitable company. 4. Industrial Sector- primary (agriculture, mining, forestry), secondary (manufacturers), tertiary (service engineers). Some would also argue that a fourth sector now exists involving the technical support of IT equipment (the quaternary sector) 5. Ownership- Sole trader, partnership, private or public limited companies, franchise. 6. Culture- the attitudes, beliefs and values of the company. 7. Structure- how the business is organised- hierarchical, top heavy etc. With the above in mind we can now assess the organisational set up at Vehicle Safety Systems Ltd (VSS).
VSS would appear to be a medium sized company with 145 employees however their annual turnover is toward the upper end of the stated medium sized business