Description This course is about the creation and maintenance of a long-term strategic vision for the firm and formulating a competitive strategy in accordance with that vision. This course builds and assumes understanding by the student on functional business areas such as marketing‚ accounting‚ finance‚ and information systems. To understand how a firm can alter or develop its strategic
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Task 1 Describe the type of business‚ purpose and ownership of 2 contrasting types of businesses. Sole Trader A sole trader is a business owned by 1 person. It does not have limited liability meaning that if it fails and creates debts the owner is personally responsible for this. Sole trader’s usually have to work long hours and learn about all the aspects of business as many start up businesses cannot afford to hire people to take on other tasks. The owner is responsible for everything that goes
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company‚ who are working in exporting reusable cups. KeepCup head office‚ which in Melbourne is recently exploring for the feasibility of introducing their product overseas to German. This business report provides a business analysis and consideration about the external environment in German. The purpose of this business report is to facilitate KeepCup in order to help the company to make decision for expanding their product exporting to German. The observation will go through on the political‚ economic
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A business opportunity (or bizopp) involves sale or lease of any product‚ service‚ equipment‚ etc. that will enable the purchaser-licensee to begin a business. The licensor or seller of a business opportunity usually declares that it will secure or assist the buyer in finding a suitable location or provide the product to the purchaser-licensee. This is different from the sale of an independent business‚ in which there is no continued relationship required by the seller. Makeup of a business opportunity
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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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BUSINESS INCUBATION Many entrepreneurs don’t have the space or desire to start a business out of their home‚ yet find renting space and setting up essential support functions is overwhelming financially and energy draining just at a time when their financial resources and energy are most needed for development of the business itself. A business incubator can be the perfect solution for such a person. Business incubation provides a nurturing‚ instructive and supportive environment for entrepreneurs
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Importance of Business Sanela Hamidovic October 13‚ 2012 MAN104 Evan P. Jones Importance of Business 1. Why is it important to hire an accountant for the business? It is very important to have accountant in your business. In video Maureen Costello said if you don’t have understanding of accounting that your business will fail. The important of accounting is to control money. She stated how cash is important for business even if you have profit coming in but you don’t have cash your
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A business can not exist in isolation‚ it has to deal with changes taking place inside and outside and in order to operate it must interact with its surroundings‚ which is the environment. The environment impacts a business to large extent such that it contributes to either the success or the downfall of a business. Therefore this paper is aimed at defining what business environment is and understanding why it is important‚ for a business individual to understand this environment. Apart from that
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BUSINESS PLANNING Planning is the key to any successful business. There are many different models and variations of business plans‚ so it is extremely important to choose the right one specific to the type of business. Having a business and knowing what to do with it are very separate issues and creating a well-executed business plan for the right reasons will enhance the odds that your venture will be one of the ones to succeed. “Accounting is the measurement‚ statement‚ or provision of
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Management Planning There are many influences‚ both internal and external‚ that affect the way Tyco does business. Tyco is a diverse company built on four key values that shape how each employee interacts with each other and the rest of the economy. These four key values are what built the company to what it is today. They are; Integrity‚ Excellence‚ Teamwork‚ and Accountability. Without these values Tyco would not be the great company it is today. “At Tyco‚ we have a shared pledge to promote our
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