Btec Business Unit 23 M3
M3
the skills I need to develp are financail and accounting,
Financial- The top reason why businesses go out of business is bad financial planning. All the cash flows in the wrong direction. Having worked through the dotcom boom and bust I have seen first hand what too big a budget in the wrong hands can do. Someone needs a firm grip on the numbers and it had better be you otherwise someone might just take a trip to a tropical island at your expense. I will be devoloping this skill by finding some volantry jobs for one or two week to gain some skills so then I should be able to run my own business.
The other skill that I need to develop is the ability to implement systems (such as workplace information, risk management, continuous …show more content…
The partners must have a deed of partnership which is a contract between partners which legally binds them. The strength is that the partners well get the same percentage of profit as much as they have invested into the company.Private limited company is to make money quickly the cant sell there shares to the stock market as they have a great weakness. The owners have the main control in the business normally as they control the business and the main stake holders of the business are board of directors. The biggest strength they have is that if the company goes bankrupt the owners can loose thier personal positions so they pay off depts.Franchise is when the company such as McDonalds sells the rights and the promotion to the person to user their brand and logo to sell its products, services and logos, usually in a defined area. The person that gets the rights gives royalty to the users as this will involve paying fixed fees and a percentage payment of the franchisee's sales turnover. The main strength of this is that the business is a success and that the advertising is mainly from the franchise company so this gives advertisement for all the franchisers that own the different branches.Our business is a parivet which is made up of my self Rukia and our business is called Rakz Hair salon which is a
the skills I need to develp are financail and accounting,
Financial- The top reason why businesses go out of business is bad financial planning. All the cash flows in the wrong direction. Having worked through the dotcom boom and bust I have seen first hand what too big a budget in the wrong hands can do. Someone needs a firm grip on the numbers and it had better be you otherwise someone might just take a trip to a tropical island at your expense. I will be devoloping this skill by finding some volantry jobs for one or two week to gain some skills so then I should be able to run my own business.
The other skill that I need to develop is the ability to implement systems (such as workplace information, risk management, continuous …show more content…
The partners must have a deed of partnership which is a contract between partners which legally binds them. The strength is that the partners well get the same percentage of profit as much as they have invested into the company.Private limited company is to make money quickly the cant sell there shares to the stock market as they have a great weakness. The owners have the main control in the business normally as they control the business and the main stake holders of the business are board of directors. The biggest strength they have is that if the company goes bankrupt the owners can loose thier personal positions so they pay off depts.Franchise is when the company such as McDonalds sells the rights and the promotion to the person to user their brand and logo to sell its products, services and logos, usually in a defined area. The person that gets the rights gives royalty to the users as this will involve paying fixed fees and a percentage payment of the franchisee's sales turnover. The main strength of this is that the business is a success and that the advertising is mainly from the franchise company so this gives advertisement for all the franchisers that own the different branches.Our business is a parivet which is made up of my self Rukia and our business is called Rakz Hair salon which is a