BTEC Level 3 Business Unit 2 (Business Resources)- Assignment 5: Preparing financial documents. P6: Illustrate the use of budgets as a means of exercising financial control of a selected company. In this task‚ I’ll be illustrating the use of budgets as a means of exercising financial control of my selected business which is Morrison’s. A budget is a financial plan for the future of business relating to its costs. However a budget is more than just financial numbers. Budgets for incomes/ revenue and
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How legislation‚ policies and procedures influence and promote the safety of individuals in health and social care settings. In this assignment I will be outlining how legislation‚ policies and procedures relate to health‚ safety and security and how they influence different health and social care settings. I am also going to analyse the consequences of breaking the law or disobeying policies by including examples of a variety of appropriate policies and procedures for a working practise within
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Unit 3 P1 Marketing techniques O2 The purpose for O2 is to provide a service to their customers. The services are to target customers that use mobile phones. The services they provide include phone insurance‚ discounts off travel insurance‚ discounts off accessories in-store‚ home broadband etc. Survival strategy In a tough economy or a market that is suddenly cluttered with new and emerging competitors‚ marketers need to implement survival strategies designed to help them survive and thrive. Social
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segments that are divided will serve as fully functional units that perform stated functions. For example‚ a company’s sales department is a common functional area‚ and the staff in this area would all be focused on selling the company’s products. Explain why functional areas are important to a business? A business’s functional areas are the departments depending upon the company’s management structure that manages the main functional areas of business in a company. Most businesses share the main functional
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fdMarketing- P1 The Role of Marketing Definition of Marketing: Marketing is the process in which communication gets the value of the product or service to its customers in order to sell the product or service. This is a technique used to attract customers to the product or service. Marketing satisfies the wants and needs of people through the exchange process. Role of Marketing: Most modern businesses identify the needs and wants of their customers and then try to create the product or service
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Constraints of marketing Legal aspects There are four legal aspects that can limit and constrain your marketing‚ these are the sales of goods act 1979‚ and this law means that all products must be ‘as described’ of ‘a reasonable quality’ and be suitable for everyday purpose and also any specific purpose agreed. E.g. a waterproof coat must be waterproof. Another legal aspect is the trade descriptions act this means that a product cannot be sold by misleading the buyer‚ in the way the product was
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BTEC Level 3 Extended Diploma Health and Social Care Unit 11: Safeguarding Adults and Promoting Independence For the assignment you are required to fully reference all work using the Harvard system. When researching a variety of sources must be used for example; Internet‚ books‚ journal articles‚ etc. All written work must be produced in Arial size 12. All work should be labelled with the appropriate title. All work must also include your name‚ person code and page numbers. Ensure that
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money to do research. The two examples of the Kraft’s food power brands are Philadelphia and Dairy lea. Theses’ Company bring in a lot of spare money for the company to grow and expand; this is why the Kraft’s food concentrates on theses power brands. 3. Examine Kraft Foods Supply Chain Goal of “exceeding customer expectations in quality of product and service at lowest effective cost”. Explain how EIM is likely to help Kraft to achieve this goal? The EIM is very likely to help because it lets the
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Describe the social implications of business ethics facing Marks and Spencer in its different areas of activity. Ethics must be global‚ not local. In order to build a truly great global business the leaders need to bring forward a global standard of ethical practices. The only way to build a great global company is with a single global standard of business practices‚ vigorously communicated and rigorously enforced. Companies must layout the same business standards in Chicago‚ Paris‚ and Shanghai
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BTEC IN BUSINESS Level 3 UNIT 2 – Business Resources Assignment 2 Name: P4: Sources of Finance There are two main ways that a business can access financial resources: From within the business (internal source) Can be from the business owner’s savings or from profits From outside the business (external source) There are a number of external sources that can be used to fund a business: Banks/building societies Hire Purchase Leasing Venture Capitalist Factoring Share issues Friends/family
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