Business National P1, M1, D1
Business Environment
Business environment is all about the combination of internal and external factors that may influence a business’ ways of operating such as: clients, suppliers, its competitors... stakeholders decide to start a business for many reasons: to pursue an interest or a hobby, mainly: to be their own boss. In other terms, people think that being your own boss, mainly as a sole trader gives you many opportunities although there are drawbacks as well. They also have interest in business they want to be successful.
Range of businesses:
Definition
Example
International
A business that operates overseas
McDonald
National
A business that does not operate overseas
John Lewis
Non-profit
A business that has for aim to make a surplus to help the society
Oxfam, Cancer research UK
For-profit
An organisation that has for aim and objective to make profit by providing goods and services to the public
Sainsbury’s, Tesco, Asda
Local
A small business that operates locally
Barber, Hairdresser
European
An entity that operates only in Europe
Poundland
Primary sector
Businesses that are part extracting raw materials from the product chain
BP global
Secondary sector
They create products from the raw materials
Kellog’s
Tertiary sector
Businesses that do not extract raw materials nor make the products themselves
Ikea, Sainsbury’s, Tesco
http://www.start.biz/business_names/
Introduction: In this unit, I will be explaining different type of business that can be found within the environment in the UK and their ownership types, the characteristics of the businesses that I will choose to talk about and their ownerships. I will identify businesses of contrasting field: their sizes, their purposes, and evaluate the effect of the businesses selected if they change their ownership statues. I will also be discussing about how they operate. I will be analysing different businesses that can exist in the economy. After choosing my
Business environment is all about the combination of internal and external factors that may influence a business’ ways of operating such as: clients, suppliers, its competitors... stakeholders decide to start a business for many reasons: to pursue an interest or a hobby, mainly: to be their own boss. In other terms, people think that being your own boss, mainly as a sole trader gives you many opportunities although there are drawbacks as well. They also have interest in business they want to be successful.
Range of businesses:
Definition
Example
International
A business that operates overseas
McDonald
National
A business that does not operate overseas
John Lewis
Non-profit
A business that has for aim to make a surplus to help the society
Oxfam, Cancer research UK
For-profit
An organisation that has for aim and objective to make profit by providing goods and services to the public
Sainsbury’s, Tesco, Asda
Local
A small business that operates locally
Barber, Hairdresser
European
An entity that operates only in Europe
Poundland
Primary sector
Businesses that are part extracting raw materials from the product chain
BP global
Secondary sector
They create products from the raw materials
Kellog’s
Tertiary sector
Businesses that do not extract raw materials nor make the products themselves
Ikea, Sainsbury’s, Tesco
http://www.start.biz/business_names/
Introduction: In this unit, I will be explaining different type of business that can be found within the environment in the UK and their ownership types, the characteristics of the businesses that I will choose to talk about and their ownerships. I will identify businesses of contrasting field: their sizes, their purposes, and evaluate the effect of the businesses selected if they change their ownership statues. I will also be discussing about how they operate. I will be analysing different businesses that can exist in the economy. After choosing my