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course work unit 1 business
- Module
- Unit 1 exploring business
- Institution
- PEARSON (PEARSON)
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unit 1 Learning Aim A&B ReportA.P1 Explain the features of two contrasting businesses.
In this report I will begin by explaining the features of Sainsbury’s and the British Heart
Foundation. Sainsburys is one of the biggest supermarkets which provide people with a
variety of different products such as food. The British heart foundation is a Chairty which
give money medical research.
Ownership and Liability
Ownership means the law regards a limited company as having the same legal standing as a
person. Examples of ownership in a business is the sole-trader, partnership, private limited
company and public limited companies.
Liability is the legal debts a company owes a third-party creditor this is usually a sum of
money. For example, this could be a wage payable, tax payable or accrued expense.
Sainsbury’s is a public limited company ownership which means, the public are allowed to
purchase shares in the company from the stock market. Sainsbury's is also a limited liability
company which means the shareholders are only responsible for the losses of the business
but only the amount they have invested. While Sainsbury’s is a public limited company
designed to make a profit, the British Heart Foundation on the other hand does not make
profits due to its charitable nature.
The British heart foundation is not for profit as it is a charitable trust this means most of the
money they make will go back to the Charity and not the owners. Therefore, this is not an
ownership business. The policy cover provided from the British heart foundation is for legal
liability which are for third parties for damage to property or death, injuries or diseases.
Liability is mainly from the goods sold or supplied.
Purpose
The purpose of a business describes the reason it was created and initially founded. This
explains why the business is unique and what it has it also would say the plans the business
has.
John James Sainsbury's and his wife Mary Ann joined in partnership and opened the first
Sainsbury’s shop in 173 Dury Lane, London in 1869. It was a family business. It commenced
as a retail business selling fresh foods and later packaged products. It is now one of the
largest supermarkets with £187.7 billion of the market share in 2022 with a 2.4 market
share growth.i
While Sainsbury’s commenced in 1869, the British Heart Foundation is a newer business
which started in 1961 and unlike Sainsbury’s which was a family run business, the British
Heart Foundation was founded by medical professionals. They were troubled by the high
number of deaths due to cardiovascular disease.
, Sainsbury’s was the first to create their own branded products, with the aim of their
produce being cheaper than the standard branded products. The purpose of Sainsbury’s is
that they want to sell healthy food, at an affordable price so everyone can buy from the
business, plus increase their profits to £29.9 billion. ii
They have low prices and many fruit and vegetables, as they sell foods which are low in salt,
sugar, fat, and calories. This is because they believe the food should be safe and meet strict
standards.
The purpose of the British Heart Foundation is so they can raise money from the public, to
then find research cures and treatments so they can cure heart problems. It made a net
income of over £107 million in 2020. iii Donating to the Heart Foundation will fund more
than half of the cardiovascular research which takes place in the UK universities and
hospitals. For the past 50 years, the donations have supported and halved death rates from
heart and circulatory disease in the UK.
Sector
A business sector aims to provide customers with what they want so they have satisfied
customers. This is divided into the following industry sectors: -
As a retail business, Sainsbury’s operates in the tertiary sector which provides a service of
buying and selling food products the tertiary sector buys goods from the secondary sector.
As well as this Sainsburys has their own farm so they can provide their customers with a
quality shopping experience with amazing products at a fair price. Sainsbury’s sources
products from 70 different countries and delivers fresh food seven days a week. They are
passionate about their quality to the customer and want to add value to the customer
offering food at great prices. As a retailer, Sainsbury’s want their customers to eat better
quality foods. This is their commitment to sustainable foods. iv
The British Heart Foundation operates in the tertiary sector as well, since they do not make
a profit as they are raising money for a cause to prevent heart diseases due the research
element of the business. They do this by providing second hand clothes in their shops of
which some have furniture and run charitable sporting events like the Brighton Bike Ride.
There to help them survive and undertake research they rely on the public paying for the
items in store, raising funds at charitable sporting events and donations from the public or
companies. The sole purpose to help educate people about the heart and the body. In the
long run to reducing heart disease. Many of the people working in the stores and
participating at the event volunteer which helps to keep the cost down so the money can be
spent in the right place in accordance with their values.
The idea of The British Foundation being in the tertiary sector is that when it sells, it sells its
products cheaply to their customers. The customers believe they are getting value for
money and their funds are going for a good cause.
Scope
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