Other

BTEC BUSINESS LEVEL 3 UNIT 1- EXPLORING BUSINESS

0 purchase

Module
Exploring Business

Institution
PEARSON (PEARSON)

D* UNIT 1 COURSWORK FOR NEW BTEC BUSINESS LEVEL 3 STUDENTS. THIS COURSEWORK IS DISTINTION WORTHY AND HAS ALL THE DETAILS INCLUDING BUSINESS OPERATIONS, STAKEHOLDERS AND OTHER PARTS OF MODULE.

[Show more]

Preview 3 out of 25 pages

View example

Uploaded on September 3, 2021
Number of pages 25
Written in 2021/2022
Type Other
Person Unknown

£15.49

Add to cart

Add to wishlist

100% satisfaction guarantee
Immediately available after payment
Both online and in PDF
No strings attached

UNIT 1
EXPLORING BUSIENSS

, LEARNING AIM A
UNIT 1 EXPLORING BUSINESS

Unit 1- Exploring Businesses
A business is an organisation that wants to sell goods or a service that meets
customer needs. A business environment is the external and internal factors that
impact a business's growth and profit. Businesses that are in the same environment
have a lot of competitors which means that there are many rivalries for example with
Apple and Samsung these are two big technology companies and also two big public
limited companies who both want to sell goods and make a profit. A business
environment can also include factors such as social trends such as new technology
which can increase demand. Factors that also affect the environment is employees
and customers for example there social class and consumer income. Because of
Brexit the prices in the UK are going to increase and there will be a lot of tariffs to
trade to the international markets. This then makes it difficult for businesses to
expand in this environment as trading is more expensive. The business I will be
choosing are Apple and British heart foundation. Apple is a for-profit business and
BHF is a non-profit business.

, Features of a Business
Ownership and liability:
Private
Sole trader
A sole trader is a private or exclusive owner of a business who is permitted for all
profits when tax has been paid.
Advantage:
You get to keep all the profits as you’re the boss so you don’t have to share your
profits.
Decision making is fast and easy as only you think about what to do.
Disadvantages:
Sole traders have unlimited liability meaning if you go in debt all your personal
assets are at risk.
Also for a sole trader there’s long working hours as you’re the only worker.
Partnership
A partnership business is when there’s more than one person in a business who
share profits and manage the business
Advantages:
All the work and stress is not one person so information can be shared which is
beneficial for the owners.
The owners have different skills so it’s more beneficial for the business growth.
Disadvantages:
One disadvantage is that profits are split up meaning you don’t obtain all the profit.
There may be lots of disagreements between owners.
Private Limited Company
A private limited company (LTD) is a small business that has limited liability and a
business which can’t sell its shares to the public.
Advantages:
You have limited liability meaning that there responsible for their shares but when in
debt there personal money and assets are not at risk only the business capital.
LTD’S are likely to pay less tax then a sole trader.
Disadvantages:
Restricted access to public markets and shares as you’re a private business.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

You can quickly pay through credit card for the summaries. There is no membership needed.

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller rajveersingh1. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for £15.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

68175 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy revision notes and other study material for 15 years now

Start selling

Other

BTEC BUSINESS LEVEL 3 UNIT 1- EXPLORING BUSINESS

Document information

Subjects

Connected book

More summaries for

Written for

Seller

Content preview