UNIT 1 ECONOMIC ENVIRONMENT OF BUSINESS Objectives After studying this unit‚ you should be able to : • Define what you mean by “environment” • Classify the complex environmental variable on the basis of objective criteria • Identify the critical elements of economic environment of business • Analyse the interactions between economic and non-economic environment • Explain the impact of economic environment on business management; and • Illustrate your understanding of economic environment
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Unit 1 – the Business Environment Assignment 1- Types of Business Task 1 Tesco is a private organisation from the UK. Tesco is a supermarket which provides people with things they need like food and drink. It provides people with both a product and a service. In competition with Tesco are the other three major supermarkets from the UK‚ Morrisons‚ Asda and Sainsbury’s. Sainsbury’s increased its market share over the past year‚ it grew from 16.4% to 16.6% and had a growth of 5.1%. The other retailers
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Unit 1: Exploring Business Activity M1 (Assignment 1) Oxfam Stakeholders Aim of organization Influence Point of view Owners To work with others to overcome poverty and suffering. The owners have a large influence on this aim. In their view‚ if they get all their staff to achieve this aim then they are giving a good name for Oxfam and will receive further donations and funding. Shareholders To work with others to overcome poverty and suffering. Their influence is not a lot on this
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Unit 1 Exploring Business Activity Assignment 3 P5 In this essay I will be describing how three external factors are impacting upon the business activities and stakeholders of John Lewis and Oxfam. The first of the three external factors I have chosen is the credit crunch. The credit crunch is a decline in the availability of loans or a tightening of conditions required to take out a loan from banks. It also means that there are reductions on the interest rates set up by banks for saving
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Unit 1 The Business Environment Section 1 P1: Describe the type of business‚ purpose and ownership of two contrasting businesses Revlon Colorstay Foundation The product I have chosen is Revlon Colorstay Foundation. Foundation is a skin colored cosmetic to cover imperfections and create an even complexion. There are many different types of foundation such as liquid‚ powder‚ tinted moisturizer
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Unit 1- Communication Merit (M1) Rebecca Lee Group- 1B In this written piece I will be assessing the role of effective communication and interpersonal interaction in health and social care with references to theories of communication. The theories are; Soler theory‚ Tuckman’s theory and the communication cycle. The Soler theory was created by a man called Gerard Egan. He believed that this theory shows that basic non-verbal communication can help make a person feel involved and cared
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M1 Types of outlet Local Shops – shops located at local area‚ such as near college. An example of local shop is the Cabin‚ Tesco Express‚ One stop. There are advantages and disadvantages of this type outlet. An advantage is that they are convenience for customers. Therefore this increases the local shops’ customer base and profits because more people of that are likely to shop from the local shop‚ because it is easy and comfortable. Furthermore‚ local shops offer more customer service. Another
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service. It operates under a public limited ownership as a tertiary business. A public limited company (PLC) means it is able to offer shares to the public. The owners of these PLC’s are the main shareholders. A tertiary business is one that provides a service to other business or individuals. Federal Express (later known as FedEx) was established in 1973. Ten years later‚ the company reaches $1bn in revenue – the first US business to achieve this status without merger or acquisition. Services extend
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Political Tesco has to pay corporation tax which comes out of the revenue as a cost which lowers the overall profits which the business receives this will affect them expanding/growing the business even more by maximise profits and having lots of retained profits to help keep the business expanding/growing. Tesco can be affected heavily by taxation from corporate tax‚ environmental tax‚ and even value added tax even though value added tax is put on top of
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There was so much information to learn in Introduction to University Writing‚ it is hard for me to say what was the most important to me. Unit 1‚ Good Writers are Made Not Born refreshed me on the basics of writing with common misspelled words‚ punctuation basics ‚ verb tenses and plurals (Chambers‚ 2015). I really needed this refresher on the basics of writing or the consequences might have been disastrous the farther I got into my college career. The next thing that helped me out immensely was
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