Assessment 2 – 40580/02 1a) Plain carbon steel is essentially an alloy of iron and carbon which also contains manganese and a variety of residual elements. These residual elements were either present within the raw materials used in the production process e.g. iron ore and scrap steel additions‚ or they were added in the production process for a specific purpose‚ e.g. deoxidization by means of silicon or aluminium. Hence they are called residual elements to distinguish them from alloying
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Every business needs to follow all the employment legislation which is set by the government. It helps employees to be treated fairly. Some of the legislation are; employment relations Act 2000‚ the minimum wage Act 1983‚ health and safety at work act 2015‚ etc. The health and safety act is twin duties because for employee’s health and safety are combined within one act. Businesses follow the legislation as it changes and they train their staffs as follows. It is essential for the business to follow
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Health and Safety at Work Act 1974 - This means the employers have the responsibility for everyone on their premises; this can be the employees‚ workers from other organisations‚ visitors and service users. The employers must carry out risk assessments before opening. Their health and safety policy must be reviewed frequently. They must record all accidents or incidents. They must be responsible for safety equipment‚ information and training. They must have insurance‚ the liability insurance is compulsory
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Modern marketing The function In a private sector business operating to generate profit‚ is to attract and keep customers. Customers might be private individuals‚ in customers‚ customers might be private in so called B2C (business to consumer) markets‚ or they may be other businesses in B2B business to business markets. Markets occur wherever goods and services are bought and sold. there is a market for clothes a market for cars‚ there are developed markets and markets for food produce. Wherever
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fresh and ready made products . Sainsbury’s Bank plc is a british bank owned by the company. The bank provides a range of financial products including insurance‚ credit cards‚ savings and loans Attracting Customers Excellent customer service A business can persuade a customer to keep coming back through good customer service as it ensures they leave with a great impression. Customers will feel valued and important if they are provided with great customer service. In addition‚ the customer will
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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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of business is bad financial planning. All the cash flows in the wrong direction. Having worked through the dotcom boom and bust I have seen first hand what too big a budget in the wrong hands can do. Someone needs a firm grip on the numbers and it had better be you otherwise someone might just take a trip to a tropical island at your expense. I will be devoloping this skill by finding some volantry jobs for one or two week to gain some skills so then I should be able to run my own business.
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realized or realizable‚ when it is earned) Revenue Recognition at point of sale: (1) Sales with Discounts (2) Sales with Right of Return: Three alternative revenue recognition methods‚ and recognize revenue only if all of six condition (3) Sales with buybacks (4) Bill and Hold Sales: buyer is not yet ready to take delivery but does take title and accept billing. Revenue is reported at the time title passes if (a) the risks of ownership have passed; (b) the buyer makes a fixed commitment of purchase
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Business Aims / Objectives & Mission Statements A business aim is a long term goal. It is something a company is working towards to achieve the target within a certain time. To do this the business would need to use short term goals called objectives to achieve these. These objectives intend to be SMART. (Specific‚ measurable‚ achievable/agreed‚ realistic‚ time) An aim is where the business wants to go in the future‚ its goals. It is a statement of purpose‚ e.g. we want to grow the business into
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own admissions – Head Teacher and Governors can decide. Task B Complete question and table Complete answers to the following: Describe what each of the following do within a school. Role Responsibility School governors Governors serve for 4 years. They work with the Head Teacher to make decisions on how the school will operate. They have legal duties‚ powers and responsibilities. They have to work together and cannot act individually. They approve what is taught in school‚ they set
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