BTEC Business Unit 1 - Assignment 1 (*Distinction*)
39 views 0 purchase
Course
Unit 1 - Exploring Business
Institution
PEARSON (PEARSON)
Book
BTEC Nationals Business Student Book 1 Activebook
This report talks about the features contibuting to the success of two contrasting businesses (Mango and WWF). I was awarded a distinction after meeting all of the criteria. You could use this as an example to help you write your own!
BTEC Business Unit 4 - Assignment 2 (*Distinction*)
BTEC Business Unit 4 - Assignment 1 (*Distinction*)
Complete Saxon Fields Theme Park Ltd NOTES for Unit 6 Principles of Management 2024 Exam! RATED A+
All for this textbook (75)
Written for
BTEC
PEARSON (PEARSON)
Business 2016 NQF
Unit 1 - Exploring Business
All documents for this subject (501)
Seller
Follow
Chloejroberts
Content preview
FEATURES CONTRIBUTING TO THE SUCCESS
OF TWO CONTRASTING BUSINESSES
PEARSON BTEC LEVEL 3 NATIONAL EXTENDED DIPLOMA IN BUSINESS
UNIT 1 - EXPLORING BUSINESS
CHLOE ROBERTS
,CONTENTS 01.
Introduction
01.
Contrasting Features of the Businesses
02.
How the Businesses are Influenced Through
Stakeholders
04.
The Businesses Organisational Structures
05.
The Businesses Missions, Visions, Values, Aims and
Objectives
06.
Conclusion
07.
Bibliography
,INTRODUCTION
In this report, I will explain basic features and analyse how they have contributed to the
success of two contrasting businesses. I will also talk about how they have been influenced
through stakeholders and how the organisational structures are a crucial factor. I chose
WWF (The Worldwide Fund for Nature) and MANGO as my two contrasting businesses as I
find it interesting that two well-known companies that have many similarities, can also
differentiate in many ways yet are still successful.
CONTRASTING FEATURES OF THE BUSINESSES
One of the biggest differences between the two businesses is that WWF is a not-for-profit
business, which was established in 1961 by a small group of British naturists called Max
Nicholson, Peter Scott, Guy Mountfort and Julian Huxley. They were “committed individuals
who sought to secure the funding necessary to protect places and species that were
threatened by human development.”
However, MANGO is a privately owned business that was established by brothers Isak and
Nahman Andic in 1984 because they wanted to share their passion and inspire the world
with Mediterranean style and culture. As WWF is a charitable trust, their aim is not about
taking a profit and they prefer to take donations to help the wildlife or reinvest the money
back into the business to improve it. MANGO on the other hand, strives to make a profit by
selling a variety of different clothes and homeware.
MANGO is a business that will always be competing against competitors as it is in the retail
industry, therefore they want to make a bigger profit than anyone else, they want to be more
sustainable than anyone else and they also want everybody to know their brand’s name.
They do this by “producing clothes and accessories for every person who has a knack of
wearing fashionable stuff and looks trendy.”
WWF makes themselves well known, by helping local communities “conserve the natural
resources they depend on; transform markets and policies towards sustainability; and
protect and restore species and their habitats.” They say that their “efforts ensure that the
value of nature is reflected in decision-making from a local to global scale” and by helping
these communities around the world they are improving wildlife as well as educating people
so they can continue to do it in future.
One similarity that both businesses share is that they are classed as both large and
international businesses. The Worldwide Fund for Nature has over 7000 colleagues, whilst
MANGO has just over 13000. Even though they are similar in size, WWF is supported by over 5
million people and has been known to help in over 115 countries. Meanwhile, MANGO is
known as an international business because it is a franchise that originally started up in
Barcelona and continued to pop up in over 110 countries. The company’s website page states
that they have more than 2200 stores in total, over 100 markets being with a physical
appearance, over 85 markets with an online appearance and they have approximately 79% of
international business.
Despite the struggles for businesses to continue operating during the COVID-19 pandemic,
MANGO’s website also states that they made more than €2.234 million turnover in 2021.
Which they would have been pleased about since they want to make a large amount of
money to be able to still have a profit after paying off costs. WWF still had to think fast and
adapt to the new conditions given but the organisation managed to raise $377 million from
private and public doners. This was a “37% increase over 2020”, which again the business
would have been happy about since they had extra support to work with through
01
challenging times.
, private and public doners. This was a “37% increase over 2020”, which again the business
would have been happy about since they had extra support to work with through
challenging times.
Another similarity the businesses share is that they both have limited liability. MANGO is a
private limited company (Ltd) therefore it has limited liability which means there is “a cap
placed on the amount that can be claimed.” This means that if the business is unfortunate
enough to go into debt or have any insufficient funds, they can only claim the business
assets and not personal ones. WWF is a charitable trust but still has limited liability as it is run
by trustees and doners, and if anything were to happen it would be unfair for over 5 million
people to have their assets taken away, especially after their generosity of helping the
business.
Limited liability “might seem to be the obvious choice but setting up in business is relatively
easy and the risks attached can be overlooked,” which is why it was an important choice for
these businesses to make. If they were to have chosen unlimited liability, their business
assets as well as their personal ones could be taken.
The Worldwide Fund for Nature is known to be under the tertiary sector as it is a charitable
trust that educates people and gives them the online services of being able to donate, adopt
an animal or become a member, it is also known to be under the industry of environmental
research and protection. The contrasting business MANGO is in the industry of retail which is
also in the tertiary sector as it “provides the supporting services which store and distribute
the goods which have been manufactured.”
HOW THE BUSINESSES ARE INFLUENCED
THROUGH STAKEHOLDERS
MANGO has internal and external stakeholders such as: owners, managers, employees,
suppliers, customers, and the government. WWF also has a variety of stakeholders from
national government agencies and departments to local communities, which are also other
examples of external stakeholders.
Toni Ruiz was promoted to CEO of Mango in March 2020 after being the general manager for
two years. He has a major influence on the business as he holds overall responsibility for it, he
will also want to see the business grow and expand further. Managers are another highly
influential stakeholder, as they are constantly trying to make the right decisions for the
business, whilst also meeting targets and expectations set by the owner. Employees
“contribute to the success of the business, whether it is as a direct or indirect result of their
actions.” They might want a higher salary than they currently have, which could increase
costs for the business. If there are any changes to the quality of products that the suppliers
supply, it can also affect costs for the business, which could prevent the business from using
them again and finding another supplier could be very time consuming. Customers
influence the sales and give the business feedback on how to improve, one customer on
their own does not make as much of an impact on the business as a whole group of
customers would though. Finally, the government has a significant impact on the business
as they want it to open more jobs, allowing for more tax money to be made. They can also
make the owner aware of new laws and tax levels, meaning the costs could increase again
and Mango might have to make some amendments.
If the chief executive officer, manager, government, or a customer were trying to
communicate with each other, they would do it through a video call, fax, letter, phone call,
email
02
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 or Stuvia-credit 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 Chloejroberts. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $8.64. You're not tied to anything after your purchase.
