D1 Unit 4 Business Essay

| The customers would be influenced because if the company are financially struggling the customers are there only hope to stay profiting. If the company was to go bust it means customers will no longer be able to shop there. The customers would be an external stakeholder, they can get information by advertisements and even check their annual report on the businesses website.

Telephone – A telephone maintains a few different features rather than just receiving and making calls. At work the phones that we use are often different to

There are several different types of business ownership which are most commonly used in business’ and company’s today, these include; Co-operative which is a business owned by its employees, Partnership which is a business owned by between 2 and 20 people, Private limited which is a business owner by a small groups of people who have shares and a Public limited business is owned by private individuals by shares bought and sold on the stock market. A charity is a business with the purpose to help the public, the government is a business owned by the government and lastly a sole trader which is a business owned by only one person.

Compare and contrast an existing organization’s three major functions (i.e., finance, marketing, and operations), and then justify the interdependence that operations have to finance and marketing. Provide examples to support your rationale.

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Although technology is slowloy being introduced by using it for marketing and advertising, there is a lack of technological systems used within the business itself to make productivity more efficient. Some aspects of the business operations such as customer bookings should be completed using technology, as it not only makes it more efficient for the organisation but also for the customer. By having a good technological system in place, it will lead to faster and more effective processing of bookings and increase production, which will result in reduced wastage and

All American businesses are affected by the legal and regulatory environment set forth by our government. Businesses have both benefited and been affected from government action to place rules and regulations on businesses while there some laws in place to support American workers and consumers. “The policies and practices of government bodies also establish an overall level of support for businesses operating within their jurisdictions. Taxation, fees, efforts to coordinate multiple regulatory agencies, the speed of granting permits and licenses, labor rules, environmental restrictions, protection for assets such as

Different operational functions are always in place when dealing with business. Healthcare Management and Human Resource are 2 points of interest that are a direction I would like to achieve. Coordinating the work of the department, work activities of a team of people. Finding out the direct purpose of the organization organizing people or department to perform the work which is required to get the task accomplished. Developing a structure of the team whether it be specific rules, regulations, and job description or open flexible, by work in teams, and having open communication.

Legal Factors: Businesses can be affected by many aspects of government policy. In particular, all

In an article by Frank Williams, entitled “The Effects of Government Policies on Businesses”, he stated that governments establish many rules and ordinances that guide businesses. Businesses

“Changes in behaviour, technology, demographics, natural resources, and other areas force businesses to continually look ahead and adapt.

Every business’s goal is to maximise profit, generate more revenue and increase customer satisfaction. Although to achieve these goals could be changing, barriers from the economic conditions, government and competition has increased the difficulties. Governments and businesses are interdependent, the interdependence will grow further by globalisation of the economy when it comes to international business. Mamman (2004) states: “One of the manifestations of globalisation is the blurring of political and economic boundaries and the diminishing traditional role of national governments.” The role of government has always been an important factor in business, they create rules and frameworks that let businesses compete against each other. Business is affected by the government policy, the rules and frameworks can force them to change the way how they operate. The policies of the government can have implications. For example the requirements of licensing, other permissions, regulations, taxation and formalities. All these restrictions have a direct impact on doing business.

Political: These factors influence the expansion strategies of the company. For instance, changes in tax compliance affect the operations of the company since it has to stick to the new rules. Also, trade investments affect the company’s operations in different markets (Roberts & Berg, 2012). These changes influence the patronage of the customers affecting the company growth.

* The policies and the decisions of the government have the ability to affect the operation of a business or organization, such as Louis Vuitton. The containment policy can stimulate business in each country affected. For example in the UK: According to UK government budget 2010 which showed below net tax rises of £6.255billiosn with spending cuts of £8.855billions until the end of 2011. After that, the net tax rise of £8.23billions and spending cuts of £31.9 billion in 2015. The spending cuts have long-term influence on customer's buying behavior and impact negatively on the luxury brand. Besides, tariffs, transport costs, import and export regulations directly affect the cost of products sold in each country.

It features a strong call to action and promotes the benefits of that being advertised. A sale is the conversion of a business inquiry leading into a contract or shipment. It is the activity of taking a lead and selling the item desired. The three functions of operation management, that is, finance, operations and marketing, operations interface at various points during the process of designing and developing products. These functions interface during setting up of realistic schedule, forecasting, and making decisions pertaining to quality and quantity(Heizer, 2011).