P5 - Describe how John Lewis would be influenced by economic factors in a time of economic recession and economic growth in the UK economy The two economic environments that I would be describing about are recession and growth on the business activities of John Lewis. Growth occurs when more goods are being produced and consumed‚ and also incomes are rising. During growth people spend more money on goods and services as they have more money to spend and also businesses would invest more and hire
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1. Explain the purpose and use of a profit and loss account: The purpose of the profit and loss account is to: Show whether a business has made a PROFIT or LOSS over a financial year. Describe how the profit or loss arose – e.g. categorising costs between "cost of sales" and operating costs 2. Explain why it is important for a business to prepare a Profit and loss account: Business keeps various types of financial record to monitor its performance and ensure that taxes are paid. These include profit
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Data Protection Act 1998 Topshop asks for cutomer’s name‚ telephone number‚ home address‚ email address and age for competitions‚ prizedraws‚ or newsletter sign ups. When a purchase is made on their site‚ in addition to the above‚ they also ask for delivery address‚ and payment method details and they may obtain information about customer’s usage of their Website to help them develop and improve it further through online surveys and other requests. The data the company holds of its customers will
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What is employee performance? Employee performance is a performance criteria standard of an employee‚ they must have good behaviour and mustn’t do anything bad like waste time. Employees are rated on how well they do their jobs compared with a set of standards determined by the employer. What does measuring performing mean Measuring performance means when a business will measure the quality of the activities that are passing and the quality of the services provided to the customers by employees
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Interpret the contents of a trading profit and loss account and balance sheet for a selected company. Wansbeck Motors Ltd is a limited company‚ there for have to submit their income statement and balance sheet to HM Revenue and Customs every year‚ for larger businesses this could be more often. The Income Statement (Trading Profit And Loss Account) I would also point out the fact that the “trading profit and loss account” is now called an income statement. The income statement was constructed
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Ethical principles There are four key principles in health and social settings‚ where the individual is at the heart of the health and social care provision. The four key principles are: Justice: people must be treated fairly no matter what their background. Autonomy: a person’s choices must be respected. Beneficence: this involves risks and costs; the health or care professional should act in a way that benefits the patient. Non-maleficence: any harm caused by a treatment or
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M2 Describe legislations and regulations‚ working strategies and procedures used in health and social care to reduce the risk of two types of abuse Scenario one I am going to use an elderly lady‚ called Arlene (aged 91) who lives in a residential care home who is being neglected by the care providers in the setting. Care standards act 2000 is a legislation put in place in health and social care settings to ensure that all the standards are met at all times and something is done about it if they are
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The one to one communication My communication skills in this discussion were over all quite good. I was using skills such as body language and physical touch. My convocation with the service user was about her going up the stairs to get her ready for bed. The type of communication being given was instructions and general convocation. Due to the service user having dementia she no longer speaks but still communicates with eye gestures‚ whistling‚ smiling‚ sighing‚ breathing heavily and being forceful
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Title of Legislation‚ Policy/ Procedure Date of Legislation Description How it protects vulnerable adults Human Rights Act 1998 Human rights are legal obligations that must be obeyed by all public bodies and local everyone has the right to: Fairness‚ Respect‚ Equality‚ Dignity and Respect for their Personal Autonomy‚ and freedom from: torture‚ degrading treatment‚ slavery (forced labour)‚ thought‚ belief‚ religion and expression. It gives them legal rights and gives them some protection
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P5 There are many economic factors that could affect a business; these factors could also affect the stakeholders. A recession and a growth business will be affected‚ the stakeholders affected would be customers‚ suppliers‚ employees and consumers. Inflation is a persistent increase in the general price level of goods and sevices in an economy over a period of time. When the general price level rises‚ each amount products bought from the store decreases as the rate of the product is too high
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