Business studies

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Aims and objectives:

Aim- is where business wants to go in future, its goals.

Objective- are the stated, measurable targets, how to achieve business aims.

What is successful business?

A successful business is when you make good profit and are reaching your aims and objectives.Secondly, you employees and customers are happy with you and how the business is being run.

Stakeholders-

A stakeholder is anyone with an interest in a business.Stakeholders are individuals, groups or organisation that are affected by the activity of the business. 

Owners- How much profit the business makes

Manager- Concerned about their salary 

Customers- Want business to produce high quality and low price products

Suppliers- Want business to buy their products

Leader- Want to be repaid on time and in full amount

Community- Local residents like/dislike the company.

What is administration? 

Administration involves the storing,processing,retrieving of information to support the business function. ( e.g human resources, finance, operations)

Business functions- ( What sort of functions are in a business?)

- Production

- Purchasing 

- Marketing

- Human resources management

- Accounting and finance

Planning and Prioritising -

Plan- A set of decisions about how to do something in the future.

Prioritising -  Deciding which tasks are more important and working out orders of carrying out tasks.

Working environment-

The surrounding conditions operates. Work environment can be composed of physical conditions, little things such as room temperature, or even equipment. It can also mean the way things are done.

Effective workplace design-

- Open plan 

- Cellular office

- Centralized office

Routine Tasks- are tasks that you would do everyday.

Non routine tasks- are tasks that do not happen on a regular basis,

Flexible working- Flexible working is a way of working that suits an employee's needs. (eg working from home, flexible working times, starting and finishin.)

What is an employment contract? - 

An employment contract is a kind of contract used in labour laa to attribute rights and responsiblities between parties to a

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