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Unit 1: Exploring Business Task, Schemes and Mind Maps of Business

Business

Task: Explain the features of two contrasting businesses ... We recommend a large multinational business (probably a Public Limited Company).

Typology: Schemes and Mind Maps

2021/2022

Uploaded on 09/27/2022

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Unit 1: Exploring Business
Task: Explain the features of two contrasting businesses
You need two selected businesses. These need to contrast in terms of their size/what they sell and the type
of business they are. We recommend a large multinational business (probably a Public Limited Company)
….and a Not for Profit / Charity Organisation.
Eg Adidas vs Oxfam / Aldi vs Unicef / Apple vs BHF
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Unit 1: Exploring Business

Task: Explain the features of two contrasting businesses

You need two selected businesses. These need to contrast in terms of their size/what they sell and the type of business they are. We recommend a large multinational business (probably a Public Limited Company) ….and a Not for Profit / Charity Organisation.

Eg Adidas vs Oxfam / Aldi vs Unicef / Apple vs BHF

____________________________________________________

Task 1: Checklist:

Ensure you cover the following for BOTH businesses: Company Details- 1 page each business. ✓ What is the background/ history of the business? ✓ What do they sell/ provide? ✓ What is their price point? ✓ Who are their main competitors? ✓ How do they advertise their products/ service? References: Make sure that you include your own research websites as references. When inserting a reference, click ‘References’, ‘Insert Footnote', Copy and Paste the reference (website) into the footnote. Ensure that all references are professional and current. You can include quotes in your work, but these must be in quotation marks and no longer than a couple of sentences of a graph/table/image etc.

Task 2: Checklist:

Ownership status- 0.5 pages. ✓ What type of ownership does the company have? ✓ How and when did they set up? ✓ What is the liability status of the company? https://www.tutor2u.net/business/reference/business-organisation-introduction-to-business- ownership https://www.youtube.com/watch?v=_Q7W_RUc Size and scope of the business- 0.5 pages.

Example of a SMART objective: “To increase sales by a minimum of 5% by January 2021”

Task 4: Checklist

Sector of industry- 0.5 pages. ✓ What sector of industry does the business operate in? https://www.youtube.com/watch?v=kkOXWntF8Yo https://www.youtube.com/watch?v=y-49qQgDBVg Also include a paragraph showing understanding of the 3 sectors of industry (primary, secondary and tertiary) explaining which sector your chosen business is in

Stakeholders- 1 page ➢ Who are the stakeholders within your 2 businesses? (stakeholders are anyone that has an interest in your business- see below) ➢ What influence do they have on your business? Can you find examples and discuss them? (include some research into this/news reports etc..) https://www.tutor2u.net/business/reference/stakeholders-introduction

Stakeholders:

o Internal: e.g. managers, employees, owners

o External: e.g. suppliers, lenders, competitors, debtors, creditors,

customers, government agencies and departments (local, national,

international), communities (local, national, international), pressure

groups, interest groups.

Task 5: Checklist

Stakeholders continued... https://www.tutor2u.net/business/reference/stakeholders-introduction

What influence do stakeholders have on your 2 businesses success?

  • Look at all the success factors from Task 4.
  • Decide which stakeholders affect the business most and state why.
  • Explain how the success factors are affected by the stakeholders Eg: “The bank will affect the success of the business because if they raise the interest rate it will mean that the business will need to pay more back in the loans and overdraft they may have, this will lead to