unit 1
Task one (P1)
The two businesses I have chosen are Walthamstow academy and Tesco as they are two very different businesses with completely different aims and targets, both business are tertiary sectors. Walthamstow academy is an educational service and Tesco is a retailing service.
Tesco
Type of Business:
Tesco is a business that focuses on making money (profit organisation), the appropriate name for this is retailing, and also Tesco is a tertiary sector.
The purpose Of the Business:
The purpose of this business (Tesco) is to provide the public with quality food and groceries as well as making money and being the number retailing company out of 3 (Tesco, Sainsbury’s, Asda ).
The form of Ownership:
Tesco doesn’t have a fixed ownership as it is own by thousands, this is because Tesco is a public limited company or PLC. Tesco is a PLC because of its huge number in size. Due to its size it would be almost impossible for a sole trader to raise enough funds to keep the business going. PLC is called public limited company which has limited liability, this means that you lose what you invest in the business; this also means that Tesco owners can buy and sell share holds.
Walthamstow Academy
The type/purpose of business:
Walthamstow academy is a business that focuses mostly on the student’s achievements and progression (none profit organisation), Walthamstow academy is an education business which focuses less on the income and more of the outcome of the quality of the teaching. The purpose of Public sector businesses is to provide a service for the public; the academy is also a tertiary sector business.
The form of Ownership:
Walthamstow Academy is a public sector, this because it’s owned by the government and run by the public. The academy is now owned by the UL, the UL owns 10% of the academy; they are also a UL charity.
The two businesses I have chosen are Walthamstow academy and Tesco as they are two very different businesses with completely different aims and targets, both business are tertiary sectors. Walthamstow academy is an educational service and Tesco is a retailing service.
Tesco
Type of Business:
Tesco is a business that focuses on making money (profit organisation), the appropriate name for this is retailing, and also Tesco is a tertiary sector.
The purpose Of the Business:
The purpose of this business (Tesco) is to provide the public with quality food and groceries as well as making money and being the number retailing company out of 3 (Tesco, Sainsbury’s, Asda ).
The form of Ownership:
Tesco doesn’t have a fixed ownership as it is own by thousands, this is because Tesco is a public limited company or PLC. Tesco is a PLC because of its huge number in size. Due to its size it would be almost impossible for a sole trader to raise enough funds to keep the business going. PLC is called public limited company which has limited liability, this means that you lose what you invest in the business; this also means that Tesco owners can buy and sell share holds.
Walthamstow Academy
The type/purpose of business:
Walthamstow academy is a business that focuses mostly on the student’s achievements and progression (none profit organisation), Walthamstow academy is an education business which focuses less on the income and more of the outcome of the quality of the teaching. The purpose of Public sector businesses is to provide a service for the public; the academy is also a tertiary sector business.
The form of Ownership:
Walthamstow Academy is a public sector, this because it’s owned by the government and run by the public. The academy is now owned by the UL, the UL owns 10% of the academy; they are also a UL charity.