Buiness Exam EVERYTHING

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  • Created by: Pippa_cn
  • Created on: 23-05-17 14:28
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  • Applied business
    • Expanding a business
      • Sole Trader
        • Advantages - You alone decide what happens to the profits, no disagreements
        • Disadvantages - not many holidays, long working hours, unlimited liability
      • Partnership
        • Advantages - more capital put into a business than sole trader, workloads shared
        • Legally responsible for other partners, unlimited liability
      • Private Limited Company
        • Advantages - limited liability and no risk of hostile takeover
        • Disadvantages - legally obliged to publish accounts, expensive to set up due to paper work
      • Public Limited Company
        • Advantages - Lots of capital and easy to expands, limited liability
        • disadvantages - hard to change what happens to profits and hostile takeover
    • External Environment
      • Climate Change - affects transportation of good or how many customers come
      • competitor changes - business will have to adapt their strategy in order to compete
      • Consumer Trends - business will have to adapt their service to suit their customers
      • Economic Changes
        • Inflation
        • Ressession - negative effect on economy - no spending = no buying
        • Exchange rates - strong pound good for imports
          • SPICED - Strong Pound Imports Cheap Exports Dear
        • Interest rates - the price of borrowing
    • Functional Areas
      • operations - testing the quality of product and deliverers. trsport food between where house and stores. home delivery
      • Finance - money in and out of business
      • Admin - setting up meetings, booking venues, sending letters and emails (communications for business)
      • HR - looks after every person in the business
      • Marketing - promotts the business
    • Stakeholders - people who have an interest in the business
      • Internal
        • Employees
        • Owners or shareholders
      • External
        • Government
        • Suppliers
        • Customers
        • local community
    • working relationships
      • Payingabove minimum wage
      • fair working hours
      • Manners
      • Perks - workers feel as though they get something out of working
      • Promotion opportunities
    • Ethics and sustainability
      • Paying abover minimum wage - so that workers can live comfortably
      • Use products that are not tested on animals
      • fairtrade
      • child labour
    • types of ICT
      • Emails
      • Website
      • Smartphones
      • excel
      • app
      • scan an you shop - TESCO
      • you shop we drop
  • Sole Trader
    • Advantages - You alone decide what happens to the profits, no disagreements
    • Disadvantages - not many holidays, long working hours, unlimited liability
  • ALL MOTIVATS THE WORKERS

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