Unit 7 P1 Direct costs A cost that can be directly related to producing specific goods or performing a specific service. For example‚ the wages of an employee engaged in producing a product can be attributed directly to the cost of manufacturing that product. Variable costs Variable costs means the cost of production (cost of labour‚ material or overhead) that change according to the change in the volume of production units. Combined with fixed costs‚ variable costs make up the total cost of
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Unit 4: Business Communications In this assignment I will be investigating the different types of business information that exist in Apple Inc. P1: Verbal Information: Face to face verbal communication is the best way to communicate as there is no misunderstanding as there is clear communication between the speaker and the audience‚ also there will be direct feedback and questions can be answered instantly. For example Apple will hold press conferences
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P1 M1 describe types of market research Market research is the method of gathering and analyzing information about customers‚ competitors and the market. Market research is used when companies want to focus on things like market trends‚ customer habits and lifestyle‚ what price customers will pay for a product and what competition exists. This type of research assists companies build an idea on how competitive the market is also business owners can price their products efficiently with the understanding
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P1- Explaining the role of effective communication and interpersonal interaction in a health and social care context. Effective communication is way in which people communicate towards each other. There are wide ranges of ways that communication can take place for example one to one conversations‚ group conversations. This can either be informal or formal depending on the individual’s outcome. An example of effective communication that can take place in a health and social care setting is a hospital
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desired goals to expand their business growth and also maintaining open line communication with employees to gain a better outcome. Ben and Jerry’s conduct various CSR activities‚ some of these include: Use of Fairtrade ingredients- Ben and Jerry’s first started using Fairtrade certified ingredients in 2005; they pledged in 2010 that by the end of 2013 they will go fully Fairtrade. Ben and Jerry’s work with dairy farmers and other farmers from third world countries‚ they source ingredients like cocoa
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|To achieve a pass grade To achieve a pass | | | |grade the evidence must show that the learner|To achieve a merit grade the evidence must |To achieve a distinction grade the evidence | |is able to: |show that‚ in addition to the pass criteria‚ |must show that‚ in addition to the pass and | |evidence must show that the |the learner is able to:
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Task 1.2 What is a stake holder in a business? A stake holder in a business is somebody that can affect or be affected by the actions of the business. Businesses have several stake holders each. Anybody associated with a business can be a stakeholder of that business in some way. Who are the stake holders at Morrisons PLC? External Stakeholders- The customers- The customers of Morrisons PLC are a big stakeholder in the company. It is because of the customers that the business is able to function
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Task 1 1.1 Organisations can be classified in terms of their business purpose‚ ‘for profit’ or ‘not for profit’ organisations. Organisations that seek to make a profit are mainly private sector businesses which provide goods/services and must make a profit to survive. They can break even or even make a loss for a very short time or they will cease to exist. The main structure of profit seeking organisations includes: 1. SOLE TRADER. Business owned by a single person‚ bearing full responsibility
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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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1. Describe the basic features of electricity at a fundamental level. Ans: Electricity is the movement of electrons. As long as electrons in an atom are balance and revolve precisely in orbit around their sun or atom nucleus there is no electron flow or electric current in a wire. These atoms are the smallest particle into which an element can be divided without losing its property. A single atom consists of three basic components: a Proton‚ a Neutron and an Electron. An atom is similar to a small
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