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unit 1 - exploring a business learning aim a and b distinction standard
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in this document it will include all of learning a and b of unit 1 exploring a business
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Features thatcontribute to
the success of
contrasting
businesses
Unit 1, Learning aim A &
B
, Introduction
A profitable business is a business
whose focus is to make money and
earn as much of a profit as they can.
This is usually retail stores as they
Figure 1; Cancer research UK logo sell their products for as much
money without ripping off their customers. This is different to a non-
profitable business because their main focus is to spread awareness
on matters all across the world. An example of a non-profitable
business is Cancer Research UK. This is because they are funded by
the government and use their money given to a cause such as
helping cancer patients in the near future.
A profitable business includes Ryanair. They are a profitable
business because they offer flights to customers for a cash of money
which is retained by the business themselves. Also, Ryanair is based
in around 33 countries and in 2017 won an award for becoming the
first company to have allowed a billion customers travel via their
airlines. Ryanair are so
successful because they are
referred to by customers as
cheap compared to other
airline companies.
Aims and Objectives
The aims and objectives are a Figure 2; Ryanair logo
way of seeing growth within a business. Businesses tend to use
these types of missions to achieve more and increase the pace of
the business as a whole. Most businesses tend to use the SMART
abbreviation to best find out what plan is best for them. The term
SMART stands for Specific, Measureable, Attainable, Reliable and
Time. What this is attempting to spread is that as business owners
we should make sure the objectives and missions that we set should
be easily understood and attainable of all. The vision of a business,
on the other hand, is a narrower statement of the organisations
purpose and aspirations. The values and ethos of a business is the
viewpoint of the company and how they interact with their
customers and those directly involved with the business.
Ryanair has a mission ‘to offer low fares that generate increased
passenger traffic while maintaining a continuous focus on cost
1
, containment and efficiency operation’. Also, Cancer Research UK
has a mission to want survival in the UK to be among the best in the
world. We’re focusing our efforts in four key areas – working to help
prevent cancer, diagnose it earlier, develop new treatments and
optimise current treatments by personalising them and making
them even more effective. They also have specific aims into
achieving their mission as soon as possible.
Ryanair are on the way of achieving their mission as they were
recently awarded an award for allowing over a million customers fly
via their airlines. This clearly shows that Ryanair are well on their
way of becoming one of the best airline companies out there due to
their high demand in customers. Also, the fact that other airline
companies have not fulfilled this goal shows that Ryanair are in the
lead of many airline companies.
Ryanair is in a tertiary sector due to the fact that they provide
services of allowing customers to fly via their airlines. Cancer
Research UK are a charity so therefore; they would have a sector of
tertiary also. A tertiary sector also referred to as the service sector
meaning it provides a service of some sort to customers. Also, due
to Cancer Research UK being a charity it also means that they are a
public limited company meaning that they are funded and organised
by the government and they do not retain any of the money given to
them. This is different to Ryanair on the other hand, because they
are a private limited company meaning that they are funded and
organised but people within the business and all the money given is
retained to them and them only.
Cancer Research UK are also on the way of achieving their mission
of wanting to find the cure of cancer this is evident because there is
a belief that only 2 in 4 people diagnosed with cancer are cured.
This is a lot better comparing to the late 90’s when all 4 of those
cancer patients wouldn’t have been cured. It was also found that
those with less than a quarter of those with cancer survived in the
70’s and now 40 years on this has doubled (according to the Cancer
Research UK website updated in 2017). In addition, to this as a
charity Cancer Research UK believe that for them to be able to
achieve their missions they will need to ‘Be Sharp, Be Brave, Be
United’ this slogan sums up the charity. Cancer Research UK also do
national marathons to raise money for the charity, these marathons
involve the public as well as celebrities who feel the need to get
involved on the action in which is going on from Cancer Research
UK. This marathon is strictly for woman only and is called Race for
2
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