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Unit 1 learning aim a and B
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Unit 1 learning aim A AND B, exploring businesses, i have achieved a D in unit 1
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Business BTEC Coursework UNIT 1A.P1 explain the features of two contrasting businesses by Rahul Nagar
RX LIVE
Rx live is an online pharmacy. It is a free service which delivers your repeat
prescription via the Royal Mail within 24 hours using an electronic device. Rx live
is the first online pharmacy in the United Kingdom. There is a free app you can
download on the apple store or the google store to have your phone. It work by,
making or logging into your Rx live account, the patient can scan the barcode on
their prescription, meaning your medicine will be added to the pharmacists
computer and it will be delivered within 24 hours to your address.
Ownership
Rx live is Private limited Company with share capitals meaning when the owners
invest money into RX live, they will get a share of the business becoming a
shareholder. Also they have limited liability meaning the owner aren’t responsible
for the debt, also shares can only be sold to it member of staff and family
members, for an investor to buy shares, all the other shareholders have to agree
meaning the owners keep a lot of control of the business and how the business is
managed, however the disadvantages is, that it is more expensive to set up a Rx
live had to legal paper work and every year Rx live have to publish its accounts.
The purpose of RX LIVE
The purpose of RX live is they believe medications and healthcare should be use
through technology meaning making life easier for the Customer. Also the
purpose is to benefit customer for not going to your GP or pharmacy to get their
medication. RX live objective or aim is to send medical staff for example doctor to
come to your house, and say for an example the patients has a cold and you need
some medications. On the very next day they will send someone to come to your
house to give the patients their medication. Lastly to be the number 1 healthcare
company around the UK twice in a row.
Sector of RX live and size and Scope of RX LIVE
The sector Rx live is based in is teriatarty as it provides a service to the customers.
For an example Nike, Rx Live and Tesco. Rx live is in the quaternary sector as it
uses technology to get the patients medications. For example when the patients
scan the barcode of their prescriptions, the medication (prescriptions) will be sent
to the pharmacist’s computer and it stores the patient health records on their
,laptops. Rx live is national business in the United Kingdom, It has one premise in
Wallington. Rx live has twelve employees and it has five shareholders.
How successful is RX LIVE
Rx live has only been opened for 4 to 5 years, it a successful company as they
have got an investor who want to invest two million pounds into the business, in
exchange for a share. The investor want to put money into the money for a share
as he sees Rx live as an excellent business for healthcare and he believes it has a
lot of potential in the future. Rx live have won some awards for example the
number 1 health care in the United Kingdom because their customer service is
excellent, Rx live is a trustworthy and reliable company. When it first opened it
was a gap in the market as it was a brand new service which never existed before.
Also for the some customers it is less hassle for them going to their pharmacy to
receive their medication. The Rx live app is very easy to use to get your
medication and for repeat medication within 24 hours.
,Cancer research
Cancer research opened on the 4th of February 2002. Cancer research is a not for
profit business, as it is a charity. It sell goods and product which have been worn,
used or played with before, with the money Cancer research uses the money to
research into cancer to find a cure to cancer and for treatments. Cancer research
gives all the profit to the government or to the researchers, nurses or doctors as
they can look into medicine and treatment for cancer.
Ownership
Cancer research is a limited company which is a registered charity which is
governed by the councils of trustees. Cancer research have 12 trustees. The
board of trustees is led by Sir Leszek Borysiewicz. Professor Sir Leszek Borysiewicz
is the chief executive of the medical research. Cancer research is not owned by
shareholder. The Council of trustees “sets the Charity’s strategic direction,
monitors the delivery of the Charity’s objectives uphold its values and guides,
support the Chief Executive, who leads the Senior Management Team towards
achieving the Charity’s vision and purpose” (quote from cancer research). All
trustees must take part in one or more council committed and they must attend
committee meeting. The difference council committees are Audit committee,
finance committee, fundraising and marking committee, research committee and
remuneration committee.
Purpose of cancer research
The Purpose of the business is to find a cure and a more effective treatment for
people who are diagnosed with cancer. With the money Cancer research get for
donation Cancer research, researches to find a cure to stop cancer. I believe it is
an amazing charity as it has a good purpose. Cancer research mission statement
is to prevent and cure cancer with their donation they receive. Cancer research
aim is “to prevent, control and cure cancer through our ground-breaking
research” Cancer research objective is to reduce the risk of people developing
cancer, to diagnose more cancers earlier, to develop new treatments for cancer
which are more effective. Cancer research moto is “together we will beat cancer”
, Sector and size and scope of Cancer research.
The sector cancer research is tertiary and quaternary as they are selling good and
product to customer; however with the money they earn, cancer research uses
their money to looking into research for cancer. There are 600 cancer research
stores and cancer research is a Global business. There are 4,105 employees and
47,000 volunteers. It has more than 4000 researchers, doctors and nurses. Their
motto is “together we will beat cancer.” Cancer research is a big charity as it
raises about £650 million a year. Cancer research is the only charity to fight over
200 types of cancer.
Why cancer research is a successful company
Cancer research is very successful because it influences a lot of people. Cancer
research is the one of the largest Charites in the UK. Cancer research helps and
support their scientist and researches to treat cancer and help people who have
cancer by researching into medicines and for a more effective treatment to
prevent cancer. “Cancer research only relay on donations”. They are successful as
cancer research have “been working to beat cancer for more than 100 years”
Cancer research have save 520,000 lives meaning if they have saved 520,000 lives
and they’ve been working to beat cancer for more than 100 year it tells us cancer
research is helping and they are being very useful to help patients who are
diagnosed with cancer. This tells us, people believe in cancer research meaning
cancer research is using their donations effectively.
A.P2 Explain how two contrasting businesses are influenced by stakeholders
What is a stakeholder?
A stakeholder of a business are the individuals and groups who are interested or
affected by the activities of the business meaning the individuals and groups have
an interest if the business is a success or if it is a failure and they are interested to
know about any news about the business. There are two types of stakeholders in
a business; they are internal and external stakeholders.
The difference between internal and external stakeholders
Internal shareholder is an individual or group who work within a business, for
example, owners, managers and employees. External stakeholders are individuals
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