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*NEW* Exploring Businesses P1 Learning Aim A -*Distinction Graded * - Explain the features of two contrasting businesses. £11.39
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  2.  
  3. PEARSON (PEARSON)
  4.  
  5. Btec Business Level 3 National Diploma
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  7. Unit 1 - Exploring Business

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*NEW* Exploring Businesses P1 Learning Aim A -*Distinction Graded * - Explain the features of two contrasting businesses.

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This document includes P1: Explain the features of two contrasting businesses: A1 Features of businesses • Ownership and liability: o private, e.g. sole trader, partnership, private limited company, public limited company, cooperative, limited and unlimited liability o public, e.g. government ...

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  • July 10, 2024
  • 7
  • 2022/2023
  • Essay
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UNIT 1 - EXPLORING BUSINESSES


Unit 1 P1
Unit Introduction
A Business is a company that provides goods and services to consumers, a business can either
be profitable and non-profitable. A profitable company uses the money they receive from
consumers into their own business, they improve and actively produce new goods to sell to
their consumers. The common business thread is that owners and employees are striving to
satisfy customers, this is critical for a business since consumers will provide feedback to the
goods that are sold, in turn, businesses get an idea of what customers are looking for and what
their expectations are, from the business goods or service as well as the business as a whole. In
the current era, customers are now more informed than ever as consumers know which brand
they are buying and who they are buying from. This assists to bring recognition to the business
and builds trust for consumers. A non-profitable business usually is a charity organisation,
which is run by a government, in which they don’t use the profit gained because the profit
generated is used to raise money for a cause.
In this unit, we will learn how businesses become successful and you gain more understanding
of the key ingredients behind their success.



Profitable Company: Tesla
Created by Elon Musk now working with many other companies and owner of SpaceX. This
company is highly known for its premium, high-tech electric cars. Tesla is a PLC, worldwide
known company and operates in many countries. The first tesla to begin production was the
Roadster in 2009, the car had run an analogy motor instead of a digital motor this can affect
what customers wanted and what their expectations were to what they got. The other issue
because the first tesla was a complete flop, this was because of its battery, the issue was that
the battery was getting too hot and the air-cooler didn’t provide much cooling to the batteries
thus having a risk of the car exploding or catching on fire. The roadster didn’t do very well in the
car company business, Tesla sold roughly 2,450 roadsters in over 30 countries. From there in
2011 Tesla released a prototype of the Model’s which then in 2012 fully began production.
Tesla designed the first-ever fully electric car, which shaped up to be a huge success in the
electric car market, the Model S was what the customers wanted with high-end technology and
a premium build quality, the body of the model’s was made from
aluminium, the acceleration went from 0-60 mph in 2.28 secs
which is insane for electric vehicles as it even surpasses a
Lamborghini Huracan at 2.9 secs. Model S is the best-selling

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