P5 - Describe the influence of two contrasting economic environments on business activities within a selected organisation We are going to investigate the way in which the economic climate has affected Sub Xpress (based in the UK) and BMW (based in Germany). Introduce the two businesses. Inflation Define inflation You need to describe the current inflation rate in the UK. Include a graph. Explain what this means to Sub Xpress Think costs to the business Think prices to the customers
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Explain how and why different groups of customers are targeted for selected products at McDonalds (P5). • Describe segmentation • Explain demographics‚ Geographic’s‚ psychographics and why companies use these methods to segment the market effectively • Explain different methods used to segment markets e.g. ACORN‚ Mosaic • Explain the different target markets of McDonalds – identify 4 product ranges and describe in detail the target market for each product • Describe the different
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entrepreneurs. An entrepreneur can simply be defined as someone who undertakes and operates a business venture. History has shown that many have chosen to chart this course of self employment in a bid to play a role in determining their own destinies. However‚ the process of undertaking the business venture is where the challenges and problems lie. There are a number of factors that could ultimately lead to the downfall of small businesses such as: the failure to draw a proper business plan‚ insufficient capital
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Empowering Individuals An individual can be empowered if everything that needs to be done for their care is explained for them‚ and they are asked if they understand and are aware of what they need. This gives them control of the service and empowers them in the decisions being made‚ so that no one takes over on their behalf – even in their best interests. The person has to make the choice themselves and if they have all the facts presented to them then they will do. Individuals have a choice and
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Most people who engage in bootstrap financing want to avoid taking out loans. They also likely have a relationship with their business community that allows them to survive on very little cash. Bootstrap financing does not work for all types of businesses due to the way it is carried out. There are a number of practices that can fall into the general category of bootstrap financing. One of these practices is operating with vendors through letters of credit‚ or IOUs‚ without actually providing
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1. Why do businesses prefer arbitration.6 Usually cheaper than litigation: resolving a case through arbitration is usually far less costly than proceeding through litigation because the process is quicker and generally less complicated than a court proceeding. Faster than litigation: according to a recent study by FMCS‚ the average time from filing to decision was about 475 days in an arbitrated case while a simila case took from 18 months to 3 years to wend is way through the courts. Flexibility:
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point of view) Consumers: Buy goods and usually look for value for money. Suppliers: Supply goods to other businesses and to customers. Although the economy is made up of millions of individual separate decision makers‚ there are still clear patterns to the types of decisions they make. (E.g. when consumer confidence levels raise‚ this means their levels of spending increases and the businesses will increase their supply of goods) The importance of Stability Stability - A situation in which something
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accepted. ____________________________________________________________ _______________ Question 1 a) Describe how information systems have changed the way businesses operate and their products and services. One of the more popular topics that I have been asked how the information systems have changed the way businesses operate and their products and services. In my point of views I think they have major three ways in which information technology has brought about a huge change in the
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P5 In this publication‚ I will be speaking about how different businesses have experienced financial boom and recession. The two businesses I will speak about are: Marks and Spencer’s and Primark. I feel that these two businesses will provide so much information about their experiences of booms and recessions. Marks and Spencer’s was founded in the year of 1884 by Sir Michael Marks and Thomas Spencer in Leeds. Since founding this worldwide organisation‚ they have had over 1010 stores open and fully
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Homeostasis by definition is the technical term for the process of maintaining a constant internal environment despite changes in the external environment. The internal environment comprises of blood‚ tissue fluid‚ body cell contents and all metabolic processes taking place inside the body. This process is essential to the survival of a person and to our species as a whole. The liver‚ the kidneys‚ and the brain (hypothalamus‚ the autonomic nervous system and the endocrine system) help maintain
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