Different businesses + their ownerships
The purpose of this report is to look at economic development matters and what encourages new businesses to locate to a new business park. I will be investigating two contrasting businesses that will create new jobs in the local economy. For the voluntary sector I have chosen Oxfam and for the private sector I have chosen Topshop. Task 1-
I have chosen Topshop and Oxfam as my two contrasting businesses. Topshop is a young girls and women’s clothes shop. This business is international and has stores all over the country. Topshop has 300 stores they are still growing and expanding. The owner of Topshop owns other retail shops like Miss Selfridge and Dorothy Perkins. Topshop is part of Arcadia, a public limited company is owned by shareholders, which may be members of the public. Their shares can be bought and sold on the stock exchange. Topshop is run by a board of directors. These people make the major decisions within the business. They have limited liability; this means if the business gets into debt and cannot pay it, the business will get sued. This is known as incorporation. The shareholders’ personal assets cannot be taken to pay the debt; they are then only liable for how much they have invested in the business. The purpose of Topshop is to sell range of clothes for the public to buy, also to make profit. Oxfam is an international charity that was founded in 1942 in England. This organisation provides help to poor countries and disaster affected areas. The purpose of this contrasting business is to help people rebuild lives working on long term projects with communities determined to help ensure they have a better future.
Topshop have their own aims and objectives, their aims are:
Profit and profit maximisation – they want to make as much profit as they can Survival- they as a business want to be able to survive within the clothes industry and not fail because other businesses similar to them are opening up. Growth- they also want to be able to grow and expand their business and set up more stores in different part of the world to maximise their profit.
Their SMART objectives are:
SMART stands for Specific, Measurable, Achievable, and Realistic, time Constrained. Their objectives are
Specific because Topshop will only aim to focus on clothing and fashion accessories particularly directed at women. Measureable in this context will mean that Top shop’s market share can be easily assessed and get to know of their changing needs and wants. Achievable because their business strategies can be stretched to achieve the desired market share. Realistic would be whether they are actually achievable or not. Time constrained will mean they will achieve all the objectives by a certain time.
Oxfam also have their own aims and objectives, their aims are: Oxfam’s aims are:
To help people in poor countries and relieve poverty
Help provide education for people who are in need of it
They take donations like toys and clothes, and then they sell on for money and all the money goes to that charity. Raise money and encourage charitable giving.
Oxfam’s objectives include
To provide clean hospitals
To be caring and welcoming to new people
To be well organised
Give the best possible treatment they can
Give as much advice as they can
Within Topshop there are a number of different stakeholders which influence the purpose of the business. The purpose of Topshop is to provide good products for customers and also to provide a good service. A stakeholder is anyone with an interest in a business. These can be individuals, groups or organisations and they are affected by the activity of the business.
The businesses aims are set to please the customers and live up the customer expectations. The customers of Topshop expect high quality and...
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