EDEXCEL BTEC (HND) BUSINESSES
Lecturer: Mr Peter Emelone
Module Code: Unit 1 – Y/601/0546
ID No. 10683
Introduction, Aims, Objectives 3
Task 1 4-8
Task 2 9-12
Task 3 13-18
Task 4 19-21
Backbone of the market economy of any country is small and medium business. Every business surrounds by environmental influences, which can affect or make an impact to the business. In order to be successful in this very dynamic and speed world, business has to understand and meet many criteria’s and structures.
Josh Kaufman (2010: 15) states “Every successful business creates or provides something of value that other people want or need at a price they’re willing to pay, in a way that satisfies the purchaser’s needs and expectations and provides the business sufficient revenue to make it worthwhile for the owners to continue operation.”
The aim of this work is to consider the fundamentals knowledge of the business; the concept and essence of business, business concept; how business can strategically organized and planed for future outcomes; as well as business entities and the main activities in the field of business.
The objectives of this assignment is:
To understand the organizational purposes of business
To understand the nature of the national environment in which businesses operate
To understand the behaviour of organizations in their market environment
To assess the significance of the global factors that shape national business activities
Task 1.1 Explain briefly the following types of organisations and their purposes.
Businesses come in a variety of forms and types. For example, one important distinction is between private and public sector businesses and along side within each sector there is number of different businesses.
Virgin Group Ltd
Virgin Group Ltd is a private limited company, provides different types of services and products to the consumers. The company sell products for example mobile phones and provides different types of service like flight with Virgin Atlantic. The purpose of the Virgin is deliver outstanding service or create a product in the way that satisfy customer wants and needs and provide a sufficient revenue to the owner to continue operation.
Sainsbury PLC is a public limited company, which has it’s shares bought and sold on the stock exchange. The company specialising in food shopping, but have expended their business including many others consumables such as electrical and entertainment products. The purpose of the organization is to deliver an ever-improving quality, shopping experience for their customers with great products at fair prices. The aim is to exceed customer expectations for healthy, safe, fresh and tasty food, making their lives easier everyday.
MC Donald’s is a franchise and public limited company. MC Donald’s produce food, but get supplied by several other businesses. Have the sole purpose of maximising profits for shareholders. Also their purpose is firm’s vision for the value it seeks to create and how that value is created; it defines what the corporation is and does, who it serves and how it contributes to the well being of society.
National Health Services (NHS) England
NHS is a public sector organization meant to serve or meet the needs of citizens. The organization creates social and economic benefits for the community rather than profits. The purpose is give citizens special needs in health industry.
A corner shop near where you live
This is the oldest form of trading there is, it’s also the simplest and the most common type