OCR Level 3 Cambridge Technicals in Business Introduction to Unit 2: Business Resources

Introduction But what makes Jamie successful? Born in 1975, Jamie Oliver is one of Britain’s most successful chefs. He is known world wide for his cooking and recipes, making numerous TV appearances. But what makes Jamie successful? At the age of 28 he was awarded the MBE for services to the Hospitality industry.

In other words, Jamie Oliver is also a successful business man. What makes Jamie a success? But Jamie also runs a series of successful restaurants, and has been responsible for some of the most radical campaigns around better eating and food – particularly for children and school dinners. As a chef, Jamie has become famous for the food he prepares and the meals he creates. In other words, Jamie Oliver is also a successful business man. His sound knowledge of ingredients allows him to create his now famous recipes.

Success In the same way that Jamie Oliver combines raw ingredients to create a successful dish, so he also combines raw ingredients to create his successful business.

The right ingredients… For a dish to be a success in the restaurant, it will need the correct ingredients to start with. These will be sourced by the chef, and combined together to achieve the desired outcome.

These business ingredients are known as Business Resources For a business to be successful, it too requires the correct ingredients to start with. These business ingredients are known as These are people, physical and technological items, and sources of finance. business resources These are combined together by the management team to create a profitable business, just as Jamie Oliver creates his successful recipes.

Industry sector or type Aims and purpose of the business Business Resources All businesses require input of the same resources, but in different quantities. The amount of resources will differ depending on: Industry sector or type Size of the business Aims and purpose of the business

Key Business Resources Human Physical Technological Financial Understanding what these resources are, how they interact, and how they must be managed, is key to understanding the basis of a successful business.

What will you learn? After completing this unit you will: Know how to access sources of finance Know how human resources are managed Know the purpose of managing physical and technological resources Be able to interpret financial statements

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