orders with prompt payments. • Owners: In a company it would be the shareholders. Owners are often thought to be the most important stakeholders because they have set up the business and give a lot of time into the company to make it successful. Owners like to see their share of profit increasing‚ and the value of their business rising. • Trade Unions: This is for groups of employees who seek to secure higher wages and better working conditions for their members. • Employer associations: This
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OCR Level 3 Cambridge Technical Certificate/ Diploma in Business Unit 1 The Business Environment Task 1 Ownership McDonald’s: McDonald’s was invented in the year 1940 and has currently about 34 000 restaurants in the whole world. Since McDonald’s was found they established loads of shops especially in Europe and America. McDonald’s is obviously a private company and is owned by a head of shareholders. It was found by Richard and Maurice McDonald’s and until today they don’t get any
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P3 – Describe how two businesses are organised P4 – Explain how their style of organisation helps them to fulfil their purposes Unit 1 Business Environment Hierarchy Hierarchy The shape of a hierarchical organisational structure is the pyramid. A hierarchical organisation is a group of objects structured to be subordinate to a central idea or person. The person in charge sits at the top of the pyramid (paid most). Each job description (manager‚ deputy manager etc.) sits below the top in
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Describe how your two chosen businesses are organisational structures‚ local vs national; structure‚ store structure‚ functional areas and what they do. (p3). Functional areas in a business are basically like departments so that the business can run nicely‚ because if there were not functional areas in a business then the business would not be able to run properly and the business itself would not be able to succeed at achieving its aims and objectives. The functional areas in a business can actually
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P2: Describe the key stakeholders who influence the purpose of two contrasting organizations. Google A stakeholder in a business is any individual or group with an interest in the decisions made by that company. Some of the stakeholders are internal to the business‚ such as its employees. Some are external to the business such as Google users. The key stakeholders in a business are customers‚ suppliers‚ employees‚ local and national communities and government. Employees- employees are one
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BUSINESS OWNERSHIP Compare forms of business ownership. Three basic forms of business ownership Sole proprietorship Partnership Corporation Sole proprietorship A business owned and operated by one
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Nike was founded a little later than Tesco in 1962 by Bill Bowerman and Phil Knight. For this assignment I am required to produce a detailed report on two contrasting medium/large sized organisations. My two chosen organisations are Nike and Tesco who I have briefly described above. Both Nike and Tesco are two contrasting business in the business world. They both are very successful at what they do and are continuing to grow. Tesco is a retailer‚ whereas‚ Nike is a large organisation which markets
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The purpose and ownership of 4 local business organisations |4 business organisations and their |Purpose |Profit free‚ not for profit‚ at |Size and scale |Linking the ownership to the size and | |ownership | |costs‚ below costs | |scale of the business organisations | |Cancer
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Describe two business sectors you might want to work in if you were an accountant and why? Two business sectors that I might want to work in if I were an accountant would be the IRS and Government Accounting. I think the IRS would be very interesting and I would be curious on how they examine tax payer’s returns‚ confirm and collect taxes‚ enforce tax laws and preparing and analyzing revenue reports. I always said that if for some reason I become an accountant or anything dealing with money I would
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Business Scenario As discussed there are three different types of businesses‚ sole proprietor‚ partnership and corporations. With these businesses come many advantages and disadvantages that one will have to determine will best suit their own lifestyle. Starting a business is something very serious to plan and make sure you have the necessary financial backing to keep it running‚ and have the legal knowledge to keep yourself and organization covered. Lastly‚ if you have the knowledge and product
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