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U1 EXPLORING BUSINESS ASSIGNMENT 1
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U1 Exploring BusinessFeatures of a Business
Source: https://www.inc.com/jeff-haden/10-steps-to-start-a-business-while-keeping-your-full-
time-job.html
Learning Aims
Features of the business include types of ownership and liability,
purpose, sector, scope of activities and size
Organizational structure and functional areas
Business mission, vision and values, aims and objectives
The relationship with internal and external stakeholders, to
include how it communicates with these stakeholders and the
influence they have on the business
Possible reasons for success.
The possible reason for success includes the reasons
,Contents Page Content page
P1..................................................................................................
· Explain the features of the two contrasting businesses
P2..................................................................................................
· Explain how the two contrasting businesses are influenced by stake holders
P3.................................................................................................
· Explore the organizational structures, aims and objectives of the two contrasting
businesses.
M1................................................................................................
· Assess the relationship and communication with stakeholders of two contrasting
businesses
M2................................................................................................
· How does the structure of the two contrasting businesses affect the aims and
objectives
D1..................................................................................................
· Evaluate the reason for the success of the two contrasting businesses
,Scenario
You have been accepted onto a work placement in the Economic Development
Unit (EDU) at your local
council. The EDU is dedicated to helping businesses to start, grow and prosper.
You will be working with
the officers who are responsible for publications, brochures and guides. You have
been asked to research
and collect information on two contrasting businesses and use this evidence to
write a report on why
businesses are successful.
The features contributing to the success of contrasting businesses. The EDU has
given you a list of suitable businesses and you will need to carry out initial
research on these businesses before selecting two contrasting businesses for your
report.
Introduction
In this assignment I will include the features contributing to the success of the
non-profit company Save The Children and the private company Sports Direct. I
will be explaining the different types of ownership and liability as well as the
purpose of each of the businesses. I will also explain the sector of each business,
size and their reason for success. As the report asks for two contrasting
businesses, the organizations I have chosen are Sports Direct and Save The
Children. The reason for this is because they both have their own individual
purposes for existing and have various forms of business sectors within them that
ensure their own success.
Background of Sports Direct
, Mike Ashley’s Sports Direct is the UK’s largest sports goods retailer, operating
around 950 stores worldwide with 600 in the UK. Founded in 1982, Sports Direct
has grown into a multi-retailer company that owns everything from department
stores House of Fraser and Flannels to preppy fashion brand Jack Wills and
computer game retailer Game. It also owns sports brands such as Karrimor,
Kangol, Slazenger and Lonsdale. Sports Direct has set itself a goal to transform the
business into the “Selfridges of sport”, developing new generation stores to
showcase the best products and improve customer experience. The retailer is also
currently undergoing a store rationalization programmed in the UK, closing
smaller stores and relocating to larger flagships, which will see the total number
of stores decrease but selling space increase. In November 2019, Sports Direct
announced it will rebrand to Frasers Group.
Source: https://www.retail-week.com/companies/sports-direct?authent=1
Background of Save The Children
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