unit 1 exploring business assignment 1 cancer research

2024 Unit 1 Exploring Business Assignment 1 (DISTINCTION*) Explore, Analyse & Investigate the features of different businesses, how they are organised & what makes them successful.

This report covers Unit 1 Exploring Business – Assignment 1. It explores the features of Asda (for profit) and Cancer Research UK (non-profit) and analyses what makes them successful. Further it analyses the organisation structure of both companies and how it allows them to achieve their objectives. Finally, it evaluates what makes both companies successful, with the help of the evidences gathered throughout the report. The report covers all of the criteria required to achieve distinction as well as the correct structure and layout needed to reach those high grades. Just follow the content, it will save you time and help you effortlessly achieve distinctions. Content covered: P1 – Explain the features of two contrasting businesses. P2 – Explain how two contrasting businesses are influenced by stakeholders. P3 – Explore the organisation structures, aims and objectives of two contrasting businesses. M1 – Assess the relationship and communication with stakeholders of two contrasting businesses using independent research. M2 – Analyse how the structures of two contrasting businesses allow each to achieve its aims and objectives. D1 – Evaluate the reasons for the success of two contrasting businesses, reflecting on evidence gathered.

Unit 1 Exploring Businesses Assignment 1 A – Explore the features of different businesses and analyse what makes them successful B – Investigate how businesses are organised Features of the two businesses…………………………………………………………………………….………….….…………..2 Stakeholders and their influence……………………….……………………………………………….….………………………..3 Effective business communication ………..……………………………………………………….…………….…….…………..9 Structure and organisation……………………………………..………………………………………………………..……………..8 Risk assessment, health and safety Aims and objectives……………………..………………………………………………………………………………………………….10 References…………….……………………..………………………………………………………………………………………..……….11 1 learnexams – The Marketplace for Revision Notes & Study Guides Downloaded by: johnprice | [email protected] Distribution of this document is illegal

learnexams – The Marketplace for Revision Notes & Study Guides Features of businesses Asda Ownership and liability – Asda is a British supermarket retailer with headquartered in Leeds. In June 1999 Asda become subsidiary of Walmart – American retail giant. Subsidiary (daughter) company means that the company is partly or completely owned and controlled by another company that owns more than 50% of the subsidiary‘s company stock. Asda is a public limited company (PLC), where the shares are freely traded and sold to the public, with £50,000 as the minimal share capital to start a PLC. Asda is owned and funded by shareholders, to become shareholders people buy company’s shares. Asda has limited liability which makes the company more attractive to potential share byers, as if the company goes bankrupt the shareholders only lose their shares in the company, they don’t risk their personal properties.

• Purposes – Asda is a for-profit supermarket retailer which provides a wide range of products, from food and groceries to clothes and furniture. The company also has services like Asda Money – financial service which offers, credit cards, car insurance and travel money bureaux. Asda as a for-profit organisation aims to maximise the company’s profit and asset. In general, for-profit organisations are concerned with their own interests and not those of the public however Asda have realised that providing the cheapest prices and outstanding service will not only make their current customers come back time and again but also attract new customers. That is the reason why the company has succeeded on such a large scale, becoming one of the top retailers in the country.
• Sectors – Asda is mainly in the tertiary sector because they buy products from business within the second sector and then resell them for profit. The company store, distribute and sell already manufactured goods around the UK. Asda also is in the secondary sector as they produce their own brand of products called “chosen by you”. They use materials produced from the primary sector and process them so they can be sold to the consumer. Asda is involved in all sectors as it is the third largest supermarket retailer in the UK. They support the primary and secondary sector as they buy materials from them, creating a healthy cycle between the sectors. We can say that Asda has great impact on all of the business sectors.
• Scope of business activities – Asda as the 3th biggest retail supermarket in UK meaning that it is working on a national level. The chain has 631 stores around the UK providing goods at competitive prices to hundreds of thousands of consumers.
• Size – Asda us a large business as they chain has around 180 000 employees nationwide. For a business to be classified as large it has to have more then 250 employees and Asda exceeds that number more then hundred times.
• Reasons for success – There are many reasons why Asda is one of the largest supermarket chains in UK. I will divide those reasons in to the four Ps for simplicity. 2 Downloaded by: johnprice | [email protected] Distribution of this document is illegal

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• Product – Asda is one of the largest retail chains in the UK providing a unique and varied range of products and services. The core of the company is the retail business but they also provide services like mobile phone contracts and financial services. Their product range includes grocery stores, clothing, electronics etc. The company is in to retail selling with physical stores all over UK but also online store space with doorstep services for delivery of the products. This way they cover larger number of customers, maximising their profits.
• Price – Asda has low price strategy which is the main reason why the company is able to sell huge volumes of products in short period of time. The business is based on the moto price over perception, meaning that their products are at competitive prices and accessible for everyone. The official Asda moto is “Saving you money every day” which well reflects the values and believes of the company as well as their selling strategy. The company also has “Asda promise guarantee” which promises that Asda is 10% cheaper than their competitors Tesco, Sainsbury’s Morrisons and Waitrose. This guarantee gives the customer the confidence that they are getting the best value for their money. Asda also has huge sales and discounts during peak periods like Halloween, Christmas and Thanksgiving, which again attracts more customers. The company has a strive to keep the lowest prices on the market but at the same time not to compromise on the quality of their products. Asda has realised that the best way to find what their customers want is to ask them. The company has developed customers surveys in which they ask for feedback and ideas on how to improve their service. Thanks to those surveys the company clearly understands the needs of their customers and does it’s best to meet them.
• Promotions – Asda uses different means to advertise their products and services. They have advertisements on the TV, ads on the internet and big billboards around the country. The style of their advertisements is very clean unlike their competitors. The message they want to take across to the audience is with no unnecessary distractions which makes it much clearer and easier to understand. One of their well-known marketing companies called “Chosen by you” was designed to change the customers perception that Asda is only about low prices. The company wanted to show the customer, that they equally care about the quality of the products they sell. Every product that has “Chosen by you” label has been tasted through Asda’s food testing processes to make sure that the product is of a highest standard. Asda communicates to their customers that they have the lowest prices but at the same time they don’t compromise on quality. The combination of low prices and great quality attracts a lot of people to their supermarkets and its one of the reasons why Asda is so successful.
• Place – Asda has stores in many key locations making them easily accessible to great amount of people. The company believes that the expansion of the business and it’s locations is the best way to increase profits and beat the competition. From 2010 to 2015 Asda has opened more than 100 new supermarkets, some of which are among the biggest hypermarkets in the UK. The company has plans to open 150 new stores by the end of 2018 to further expand the business and it’s profits. Other factors – Asda is highly focused on their millions of customers as well as on the more then 180 000 employees the company has. To deliver best service they train their employees with high quality training programme on customer services, teaching them high technical skills as well as how to be friendly and helpful. Asda realise that the way 3 Downloaded by: johnprice | [email protected] Distribution of this document is illegal Powered by learnexams

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Unit 1 Exploring Business Assignment 1 help

Subject: Business and finance

Age range: 16+

Resource type: Assessment and revision

Last updated

17 September 2022

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Assignment 1 help sheet which can be adapted to suit the businesses you use for the assignment. This resource helps to understand the assessment criteria and how to structure their assignment.

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