The Purpose of Business

Assignment By now you would have introduced both the business you wish to discuss. Introduction should include: The name of the business Are they local, national/ global? What do they offer? (list full range please!) What do they do? How many employees do they have ? (if applicable) We are now moving to identifying the main activities of a business:

Key activities Identify the key business activity: Where does the company get their products/ produce from?? Factories? Where are they? (if applicable) Where are their products sold?? Do they participate in sponsorship, who with? Havering: Do staff need to be qualified? What do staff do? teach, when? Is marketing a key issue? Why?

The Purpose of Business All businesses exist for a purpose Produce or supply goods Offer a service to their customers or do both. Toyota produces cars, Walkers produces crisps Next, HMV sell goods made by other organisations Solicitors provide legal services Banks provide financial services Over to YOU ………

Starter Activity Fill in the gaps using the following words: services, service, products. Tesco supplies a wide range of ______which it sells, both in its stores and online. It also offers financial ________, such as its own credit card, personal loans and various types of insurance, in addition to providing a home- delivery __________ for its online shoppers.

products, service, services. Starter Activity products, service, services. A local garage may sell cars and ______ them as well. Hairdressers often sell hair and beauty ________ as well as cutting and styling hair.

What price to charge? At a profit Free goods and services Seller will set a price which enables a profit to be made Free goods and services Provided when considered to be essential to everyone Health care, refuse collection, road maintenance, social services (by local council) Emergency services: police, ambulance and fire services Voluntary organisations How is the money recouped??

What price to charge? At cost Below cost Any questions? Charge enough to recover the amount spent without making a profit (for example: school production) Below cost The price is less than cost of making or supplying the item (for example: NHS prescriptions, school bus pass, extra refuse bins) Any questions?

Question On Monday you bought a new mobile phone; Write down which goods/services listed below were provided at a profit, free, at cost, or below cost. On Monday you bought a new mobile phone; On Tuesday you renewed your passport; On Wednesday a relation took a driving test, On Thursday your mum went to an IT evening class; On Friday you sprained your ankle and had it bandaged in A&E at the local hospital; On Saturday you bought a new T shirt; On Sunday your family went swimming at the local leisure centre.

Task What you need to do: Research the purpose of businesses. (Use newspapers and magazines to identify different businesses. You can refer to advertisements or articles) What you need to do: Create a table to identify businesses which operate in the UK. For each business identify its purpose.

Research Task A vision or mission statement is a way of putting the aims of an organisation into a written statement. Using the Internet, examine four different published vision or mission statements. What do they have in common? What is different about them? How do they help an organisation to plan for the future?

Next part of the assignment Business objectives for your chosen business Look at the mission statement- this will provide an idea of the business aims

Business objectives: Research exactly what both business aims to do???? And compare!!