Typical stakeholders in a organisation might include • Customers: customers want value for money which involves providing the highest quality products at competitive prices. • Employees: Their stake is that the company provides them with am livelihood. They want security of employments‚ good rates of reward and also promotional opportunities. • Suppliers: They want to feel valued by the company and want frequent orders with prompt payments. • Owners: In a company it would be the shareholders
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P1 Why is it important to keep accurate financial records? Financial records tell you how much income your business is generating and how it’s being spent on things like overheads and products etc. You can then create a profit and loss balance sheet‚ this is important so that your financial advisor can then tell you what is going good or what is going bad and from that he can direct you on what to do. If a business doesn’t keep it right with the bill then they cou8ld end up in trouble with the
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BENEFITS OF READING With the advancement of technology new devices like i-pod i-pad internet occupy a fair of time in our lives today. Without these devices our lives practically seem indispensable. Nowadays reading books seems to have taken a backseat. Reading books not only improves one’s vocabulary but builds one’s imagination which can inspire a person to write. It expands one’s ability to think and analyze beyond the obvious or the stated. It is also a good way to keep stress at bay. It gives
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The primary role of management accounting is to information in a timely manner to the company’s provide relevant management to help them plan and control the activities of the organization and with which optimal and sound decisions can be made. All the topic areas examined relate to this primary role. Although this role and its related topics covered are clearly understood by most‚ if not all candidates or even managers in the organizations‚ different types of relevant information are needed for
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to consumers targeted. Collecting original data is also known as field research by using different research method such as questionnaire‚ surveys‚ observation‚ postal telephones and e-mailing‚ as Primary research is collected for a particular purpose such as finding out how “many people in barking and Dagenham area are in employment”. Also this helps to classify clearly which service or product will interest a particular age range. Therefore this helps big companies to predict and identify
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A report on two different organisations a public sector organisation ..................... and a private sector organisation ....................................... Introduction In this report you will learn about a public sector organisation‚ business activities & purpose etc. the organisation I have chosen to look at is the NHS (National Health Service). Public Sector Organisation – e.g. NHS The NHS (National Health Service) is a funded health service which was launched in 1948. The funds come
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communication between employees is an essential foundation for the benefit of any organisation. As the workforce diversifies‚ it has become one of the most important forms of communication to the organisation. The purposes of internal communications are to manage the receipt and dispatch of information to the users‚ build stronger internal associations and act as a means of process support for the organization. In the organisation‚ internal communications are used to manage the receipt and dispatch of information
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Knowledge Solutions January 2010 | 72 Marketing in the Public Sector By Olivier Serrat Marketing in the public sector may be the final frontier. Agencies operating in the public domain can use a custom blend of the four Ps—product (or service)‚ place‚ price‚ and promotion—as well as other marketing techniques to transform their communications with stakeholders‚ improve their performance‚ and demonstrate a positive return on the resources they are endowed with. The public sector is the part
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Describe the structure and organisation of the retail sector Retailers provide a service to customers at a profit. They are able to do this since the aspects of retailing – operating from an appropriate location‚ offering attractive product variety‚ ensuring enough stock is available to meet demand – add value to the products bought from suppliers and eventually sold to customers. Retailers cut their bulk deliveries from suppliers so individual customers can buy the quantity they require – very
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P1 Describe the type of business‚ purpose and ownership of two contrasting businesses. In this task I will be stating the purposes of two of the contrasting businesses which are a LTD and a PLC. (New Forest Ice Cream and Thorpe Park) First of all I will look at the businesses individually and taking into account which type of business it is and its objectives. There are two main types of a limited company; A public limited company‚ (PLC) is normally a big‚ well-known business. This could be a business
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