Verified BTEC Business Level 3 - Unit 1 (Distinction* Graded)
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Unit 1 - Exploring Business
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BTEC Business Level 3: Unit 1 (exploring business)
Unit 1 – P1,P2,P4,P5,P5,P6,M1,M2,M3,D1,D2
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I have been asked to describe the types of business, purpose and
ownership of two contrasting businesses in this assignment it will be
NSPCC and Tesco. A stakeholder is any social group, person, organisation
or society that has a stake in the business. An example would be Tesco’s
employees as if they leave they cannot run their business in that area
due to lack of staff, this will affect the business as they will not generate
money to pay for their expenditures and will make a loss. NSPCC are
considered as non-profits. These organisations we donate volunteer and
receive charitable services. They are non-profit so people such as their
employees who are volunteers will not get paid just for their good will, if
they don’t have enough employees for that day it could impact the
amount of money they generate for the charity. Ten stakeholders for
Tesco/NSPCC will include customers, manager, bank, local community,
pressure groups, governing members, suppliers, government, parent of
children and organisations having contact with children e.g schools.
1.Tesco is a global business as it operates in 14 markets across Europe,
America and Asia. Tesco have over 7,000 stores as well as 500,000
employees in the world and is also a public limited company which buys
and sells trades. Tesco main purpose is to create value for customers to
earn their life time loyalty, to provide clothing goods, groceries and
electronics and services online. Tesco’s aim is to try and maximise their
profit, Tesco’s objective is to develop on their online shopping website
and try to provide customers with many methods for them to buy their
products. Their mission statement is to keep loyal customers. Tesco
need to achieve their mission statement as they need to know where
there loyal customers are. Tesco has a club card service which essentially
can reward people by giving them extra vouchers and points.
NSPCC is a national business which essentially where the business is
located in this case NSPCC is only working in the United Kingdom. NSPCC
stands for the National Society for the Prevention of cruelty to children.
This company stands for to keep childhood free from abuse, and must
do everything possible to protect children and prevent it from
happening. This company’s objective is to increase prevention of the
younger generation from being abused in the coming years. NSPCC’s
mission statement is in their name which means to protect children from
being abused.
, 2.Tesco’s ownership unlike NSPCC is owned by many partners. Tesco is
owned by thousands of people, Tesco is a (PLC) public limited company
due to the size of Tesco. A limited liability is a liability which does not
exceed the amount invested in a limited liability company or
partnership. A public limited company is a co-operate structure which
means that the members of the company are not liable for Tesco’s
liabilities or debts. Usually limited liabilities companies are hybrid
entitles that have a sole proprietorship or partnership as well as
characteristics of an operation. Tesco have many advantages due to
their being PLC as they have a limited liability for the shareholders, the
business can build up a big capital sum as there is no limit to the number
of shareholders. The disadvantage is the original owners could get out of
hand; there are strict control and regularity to do in order to protect the
interest.
The type of ownership of NSPCC is charity, charities are not owned by
anybody. NSPCC assets are in trust by a board of trustees. The trusties
are legally responsible for making sure NSPCC deliver their charitable
purposes, they are a charity as they raise money for the children who
get abused. Due to the fact that NSPCC is not owned by anyone they are
known as an unlimited liability which essentially means that the partners
are equally responsible for the entire debts of the business. An
advantages of being an unlimited liability company is that there could be
some tax advantages to having unlimited liability, this usually depends
on the amount of profit which has been made. A Disadvantage of having
an unlimited company is that it could be harder to secure loans,
however you could secure a loan by having a family home.
3.The business sector which Tesco use is secondary and tertiary sectors.
Secondary sector is a manufacturing and assembly process. It involves
converting raw materials into components e.g. making plastics from oil.
They are a secondary business as they manufacture their own products
(Tesco value) such as Tesco Everyday Value baked beans in tomato sauce
and as well as other known products, such as Heinz baked beans and sell
it. An advantage is that they will attract more customers who are not
able to pay for well-known branded products. Tesco’s other business
sector is tertiary which is essentially commercial services that support
their product and distribution service, Tesco use advertisement to
promote their products to keep on top of their competition by attracting
customers by putting offers on their products and making more people
aware of their business. A disadvantage would be that you have to pay
for advertisement to be shown on e.g. television. NSPCC business is
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