P6- describe how political, legal and social factors are impacting upon the business activities of the selected organisation and their stakeholders PEST- Political factors include government policies relating to the industry, tax policies, laws and regulations, trade restrictions and tariffs etc. The economic factors relate to changes in the wider economy such as economic growth, interest rates, exchange rates and inflation rate, etc. Social factors often look at the cultural aspects and include health consciousness, population growth rate, age distribution, changes in tastes and buying patterns, etc. The technological factors relate to the application of new inventions and ideas such as R&D activity, automation, technology incentives and the rate of technological change. PEST in the UK
How does political affect Tesco in the UK?
Minimum wage- in the UK the minimum wage for 21 and over is £6.31. This would affect Tesco as their staff pay would come from their profit and would make Tesco’s profit smaller which is bad for the business. However the minimum wage for under 18 is £3.72. This is good for Tesco as they would have to pay their staff less which means they would have more profit. This also means Tesco would employees more under 18 as they don’t have to pay them more money. VAT- Another political factor is VAT. As the VAT rate increased from 17.5% to 20%. VAT rise cost each household £500 a year which means reduce spending on luxury items. As this rate applies to most goods and services. This would affect Tesco as their suppliers will have to increase the prices for their goods. Which means Tesco have to pay more money for the goods they buy from their suppliers. This would affect Tesco customers as they have to pay more money for the goods and services they get from Tesco. Tesco have to pay their VAT on time even if their customer have not paid yet as they have...
...A01- Illustrate how to support service users to maintain their rights.
Welcome to summer breeze nursery, this is one of the finest nurseries to send your children with no doubt of cultural backgrounds. Here at summer breeze nursery we got trained staff to look after children as well as children with special needs. Our staff will always be helping children at all times for example by putting their jacket on, playing with them and also by guiding them. Our staff has first aid qualifications encase of need of first aid, so if there was an accident to take place, this is a very good advantage as you will know that your children are in a safe place and the stuff will be aware of any accidents were to take place. One of the most important rights for children would be she/ he has the right to go school and get educated and to have a bright future.
The right to choice
The service users, such as parents will make choices if only if they are given the right appropriate information which they need to know before they enter for the subject or topic. For example in command to make the right choice the service user needs to know;
• What the weather and temperature is like
• What activities they may be expected to participate in
• What clothes are available?
The care workers should be able to let the service users to make choices regardless of their disabilities, by giving them enough information, they will be able to manage of their lives and be empowered. If for any...
...In every organisation there are stakeholders and these stakeholders are split up in groups; Internal, External and Linked. Internal stakeholders are individuals that are within an organisation such as workers, panel of administrators and professionals. Linked stakeholders are individuals that are associated with the organisation or use their products or services. These are clients, providers, share-holders and opponents. Finally, outside stakeholders are those individuals that are not engaged in the organisation but are interested in the way that it is run such as the government, team & stress categories.
British Petroleum PLC has lots of stakeholders which are; investors, administrators and professionals, workers, providers, clients, team, government, business labour unions & stress categories. All of these stakeholders impact BP differently and have different amounts of energy within the company.
The internal stakeholders of BP are workers, panel of administrators & professionals. The employees at BP can impact the organisation because in the occasion that they are being discriminated against because of an impairment, sex, race or age and in the occasion that they are not being compensated then they can get business labour unions engaged which could cause to hits over pay gets frozen or retirement benefits or job reduces, this would impact BP because if there was an attack then petrol, oil and petro-chemical development will quit. This will price the organisation...
...put in all the right screws and makes sure there order in the work environment. Organisation speaks a lot when it comes to a company’s management. To be organised is to have a group of people who come together to with intention to fulfil a goal. Organisation is that of more than two heads coming together to analyse a situation and looking into how to get the business onto greater heights.
There are different parts to organisation for instance, line, functional etc. A company has many sectors that is has to deal with it comes to assigning things to different parts of the company.
Organisation has the following qualities:
Identifying the activities required to achieve organisational objectives
Grouping up these activities into workable units (departmentation).
Assigning duties and responsibilities to subordinates in order to achieve the tasks assigned.
Assigning duties and responsibilities to subordinates in order to achieve the tasks assigned.
Establishing superior-subordinate relationship.
The word ‘organisation’ comes from the word ‘organism’ which basically states the structure of body into parts providing of co-ordination for integrating the activities of individuals and departments.
Definition of Organisation
Organisation-an organized group of people with a particular purpose, such as a business or government department.
-The action of...
...D1- Evaluate the appropriateness of business information used to make strategic decisions.
Strategic decisions are the decisions that are concerned with whole environment in which the firm operates the entire resources and the people who form the company and the interface between the two. In this task I will talk about the appropriateness of business information used to make strategic decisions. Having correct information before you make a decision that affects the whole company is vital for the company in the economic environment we are currently in at the moment.
Verbal information - Is the sharing of information between individuals by using speech. Individuals working within a business need to effectively use verbal communication that employs readily understood spoken words, as well as ensuring that the enunciation, stress and tone of voice with which the words are expressed is appropriate. Verbal information ensures that you have a strong relationship and you build a trust between the individual that you are trading with, when making important decisions that affect the whole business you need to make sure that you know the individual of company and their history when you are dealing with them a background check is also important because then you have a reassurance that you will not be ripped off.
Business professionals demonstrating effective verbal communication skills use spoken words to convey a message clearly and concisely. To get a message...
...have been successful.
To rate Diageo’s stakeholders by their influence, helped Diageo’s website page which define their stakeholders as all those who affect or are affected by Diageo’s business. They include internal and external stakeholders. A table in the website page sets out each stakeholder group and examples how Diageo currently engage them.
Diageo is a big British multinational alcoholic beverages company based in London, England. Diageo’s founders are merger of Guinness and Grand Metropolitan and it is founded in 1997. They has been a very successful company that it is even listed on the London Stock Exchange and the New York Exchange.
The most important stakeholders in Diageo are owners and investors.
1. The owners of a business are the individuals or other organisations who have invested the finance required to set it up, keep it running and allow it to grow. Their main influence in the Diageo are that they want the business to be run as efficiently as possible, in order to keep costs down and increase the profits made. The most important CEO of Diageo is Paul Walsh, so basically he gets the biggest part of the profit made by Diageo, however, if Diageo would not be making nothing and even losing their money, it means it would affect a lot the CEO of Diageo and others presidents and board of directors of Diageo, because they would lose their money also. Moreover, only shareholders with a large proportion of shares are...
...D1: Evaluate the influence different stakeholders exert in the organisation.
Each stakeholder is important to the business, however, some are more important than others. I have chosen the top three that I think are the most important and in this word document, I will evaluate how these stakeholders influence the NHS and McDonalds.
The owners are very important in McDonalds, because they’re the people that invest in the business and make sure that it runs smoothly to be able to give a good service and provide the customers with high quality food. They have to make sure that the each of the fast food restaurants are kept clean and designed well, to attract the customers and make them enjoy their time while having their food. This brings more costs with it; therefore the owners have to make sure that they have enough money when investing more money into the restaurants. They also have to make sure that McDonalds is fully equipped to be able to prepare the food that’s on the menu. When hiring new members of staff, they have to follow the procedures to make sure that they do it correctly. The people that they hire need to be suitable for the job and meet all of McDonald’s requirements and if failed to do so, it could have a big impact on the business and its overall success. Owners also need to make sure that all of the rules and regulations are followed so they don’t get into trouble for going against the law. If any of their...
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...COURSE: BTEC Extended Diploma in Business (QCF)
COHORT: 2014 - 2016
UNIT: 1 – The Business Environment (10 Credits)
ASSIGNMENT 1 – Two Businesses on our Doorstep
1. Know the range of different businesses and their ownership
2. Understand how businesses are organised to achieve their purposes
You work as a junior journalist for the local newspaper which is planning to run a feature article on local businesses
1. Learners must describe (P1) the type of business, purpose and ownership of two contrasting businesses
2. Learners must describe (P2), explain (M1) the different stakeholders who influence the purpose of two contrasting businesses
3. Learners must describe (P3) how two businesses are organised
4. Learners must explain (P4) how their style of organisation helps them to fulfil their purpose
5. Learners evaluate (D1) the influence different stakeholders exert in one organisation
TIP – Include the following:
Range of different businesses
Local, National, International, Global, Public, Private
Not for profit/voluntary
Sectors of business activity (primary, secondary, tertiary)
Supply of products or services,
Difference between profit and not-for profit organisations
Public, private & voluntary sectors
Types of ownership (sole trader, partnerships, private and public limited...