BTEC Business Level 3: Assignment 1 - Unit 1: Exploring Business. Distinction standard work. Includes appropriate images, and is extremely well formatted and put together. Using the information from this document will ensure you get a great mark. This document includes P1, P2, P3, M1, M2, D1
Name: Anton.J Allen Learner Name:789275 Submission Date: 01/11/2021
Features contributing to the success of contrasting businesses
I have been asked to research and to collect information on two contrasting businesses,
which are Rolex and The North Face and use the evidence that I find to compare these
businesses and write about why they are successful.
The table below has been created to analyse the difference between Rolex and North Face
and what makes their businesses different in comparison to each other.
Key Areas to Identify Rolex The North Face
Date of Incorporation 1905 26th October 1966
Headquarters Geneva, Switzerland Alameda, California, United
States
Business Sector Private Public
Business Organisation LTD Sole Trader
Brand I.D/Story Rolex was created because The North Face was created
the creator Hans Wilsdorf by Douglas Tompkins and
wanted to make an elegant his wife, Susie Tompkins. It
and also reliable timepiece. started because they
wanted to make a store so
that they could make
clothing and gear for their
passion, which was hiking.
Mission Statement Rolexes mission is to The North Faces mission
provide the high-class and statement is to Provide the
luxury hand watch with best gear for athletes and
innovative technology and the modern-day explorer,
design. They also want the and to inspire people to go
company name Rolex to outdoors and see the world.
promote excellence and be
remembered forever.
Shareholders Rolex is owned and PNC Bank, NA (10.0% of
controlled by The Hans shares)
Wilsdorf Foundation. Capital Research &
Management Co. (7.94% of
shares)
The Vanguard Group, Inc.
(6.84% of shares)
Marketing Rolex market there watches The North Face advertise
by using an Undifferentiated their products largely by
targeting strategy they also using the internet,
use celebrity endorsements customarily online videos.
which makes fans of that
celebrity want to buy it.
, Name: Anton.J Allen Learner Name:789275 Submission Date: 01/11/2021
Rolex is a high class watch designer and manufacturer founded by Hans Wilsdorf and Alfred
Davis in London, England, originally called Wilsdorf and Davis. Rolex was created because
Hans Wilsdorf wanted to make a timepiece that was not just elegant but also reliable, there
mission is to provide the high-class and luxury hand watch with innovative technology and
design. The company was founded in 1905.Rolex started to become a big luxury brand in
1926 when they released “the oyster” which is a watch that solved a big problem with
watches because it was water and dust resistant.
The North Face is an outdoor recreation products company founded by Douglas Tompkins
and his wife, Susie Tompkins in San Francisco, California. The North Face was created
because Douglas and Susie wanted to make clothing and gear that was suitable for the thing
that they loved to do which was hiking. Their mission is to provide the best gear for athletes
and the modern-day explorer. The company was founded on October 26th, 1966.The North
Face is really popular mostly because of their design collaborations, their most recent one
being their collaboration with Gucci which was released earlier this year.
The date of incorporation is the date that the company started.
Rolex started in 1905 and The North Face started on the 26th October 1966, the large
difference between the time that both of the companies started is definitely a factor of why
I believe that Rolex is a more successful company because they are more established and
already had made a name for themselves when The North Face came out.
A mission statement is a simple statement that explains a company’s goals.
Rolexes mission is to provide the high-class and luxury hand watch with innovative
technology and design, this is a good statement because it shows the customer that they
are a high-class luxury brand that is constantly evolving to become bigger and better.
Nevertheless, The North Face mission statement is to Provide the best gear for their
athletes and the modern-day explore, this mission tells the customer what type of business
it is and the general type of products that they sell.
The dictionary’s definition of “Headquarters” is the premises serving as the managerial and
administrative centre of an organisation.
Rolex has their headquarters in Geneva, Switzerland. In 1919 they moved from England
after the first world war because of the because of heavy post-war taxes levied on luxury
imports and high export duties on the silver and gold used for the watch cases.
However, The North Face is an American company whose headquarters are in Alameda,
California, United States moved there shortly after the new owner Kenneth "Hap" Klopp
took over.
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