Pearson BTEC Level 3, Unit 1: Exploring Business, Assignment 1, All Criteria Met, Distinction Graded
25 keer bekeken 1 keer verkocht
Vak
Unit 1 - Exploring Business
Instelling
PEARSON (PEARSON)
This document provides you with an in depth insight of all the criteria required to obtain a distinction. It includes: P1, P2, P3, M1, M2 and D1.
The two contrasting businesses in this document are Network Rail and Aston Martin.
*Polite notice, please use this as a support tool rather than perso...
ASSIGNMENT 1: FEATURES OF
DIFFERENT BUSINESSES, SUCCESS
FACTORS AND HOW THEY ARE
ORGANISED (CRITETRIA A & B)
Students Name and College/Sixth Form ID Number
,Introduction
In this report, I will be discussing two businesses: Network Rail and Aston Martin they are
contrasting as network rail offers railway services and Aston Martin offers cars as their
products. I will be explaining the key internal and external differences and how these
differences vary for a non-for-profit and for a profit organisation.
Features of the business
Network rail owns and operates Britain’s railway infrastructure, it was founded in October
2002. This business is publicly owned, not for profit and owned by the government. As this
business is owned by the government, it is likely to have funding and grants quite easily
available however it may be difficult to get funding due to a lot of paperwork therefore the
company’s budget can be unstable. Network rail has limited liability meaning the owners –
government officials are protected from the organisations debts and their assets are not
liable, as it is in the public sector. It is a large business with a workforce over forty-two
thousand employees however their scope is national, they only operate within the UK this
can be beneficial as they have the larger market share out of other competitors. With a large
workforce, the business has many talented and skilled employees to efficiently run the day-
to- day operations. Network rail having a national scope is effective as they can efficiently
understand consumer wants and needs and make necessary changes easily when consumer
behaviour is changed. This tertiary sector business provides a railway service their purpose is
to supply safe, reliable, and efficient railway to customers whilst also supporting the
country's economy. One of their reasons for success is them providing reliable and economic
railway service to both the public customers and their freight customers. A study by Deloitte,
has shown that Network rail has removed as much as a thousand lorries from London roads
every day. This means that they are efficient in their service and customers are loyal.
Network rail wants to reach sustainable growth that will support the public and create more
jobs for people who are looking for employment.
Aston Martin is a British luxury sport car manufacturer. Prior of the year 1947, Lionel Martin
and Robert Bamford founded the company Lagonda however, Sir David Brown bought
Lagonda and Aston Martin had merged into two car companies into one becoming Aston
Martin Lagonda Global Holdings plc. It is a publicly owned company meaning shares are
available to be purchased on the stock exchange however it is a non-governmental business
ran by shareholders. As a PLC, Aston Martin can find it easy to raise capital as they can place
new shares on the stock market however, the business must abide by strict stock market
rules. It has limited liability meaning shareholders’ personal assets are protected from the
organisation’s debts. This business operates in the secondary sector as it is a car
manufacturer. Their scope is international with sales coming from 55 countries furthermore,
it is a large business with over three thousand employees. Having a scope in different
continents from Japan in Asia to Canada in North America Aston Martin is likely to have a
significant market share and their customer base can still interact with the company and
grow. Aston Martins purpose is to provide luxury, stylish sport cars for profit making. One of
their reasons for success is their product quality, their target audience value their products as
they have powerful engines, and the car brand is a symbol of success as the car models were
associated in the James Bond movies. As a profit-making business, the shareholders' value
their ability to make decisions on day-to-day activities, shareholders have full authority of
the business due to the ownership.
, Stakeholder Influence – Network Rail
A stakeholder is anyone who is interested in the business, each stakeholder group has
influential power of the business, but some have more than others. They can be internal
meaning within the business, and they can be external meaning outside of the business.
Internal stakeholders consist of shareholders, managers, or employees of the business.
External stakeholders consist of customers, suppliers, competitors, and government
agencies.
One of the key stakeholders of Network Rail is the passengers. They are external
stakeholders as they use the railway service – they are not within the business so; they
cannot be internal stakeholders. These stakeholders can be affected by network rail by the
quality of the service and their experience when using the service. For example, passengers
want a safe, reliable, and fast service to ensure they are on time to their destination.
Throughout the journey, these stakeholders are conscious of how the employees – the
stewards/stewardess interact with them, if they are friendly, the environment of the trains
are clean. Network rail passengers rely on being satisfied when using the service if they aren’t
then they can impact the business by using word of mouth negatively. Therefore, network
rail can see a decrease of passengers as they listened to their unhappy friends and family and
demote the business. Regular and loyal passengers may stop using the service when it is not
to their expectations. For example, if the service is too crowded and often late the passengers
are going to be clearly dissatisfied which may result them into opting for different transport
options like the bus. As a result, network rail can face complaints from the passengers which
may result these stakeholders to take legal action. Overall, passengers have a major influence
on network rail as they can impact profit by not purchasing tickets to use the railway service,
they can also decrease their customer base by word of mouth. Furthermore, they can
influence network rail’s reputation and brand image.
Another key stakeholder of Network rail is the local community, as this business has a
national scope and a lot of train stations in cities and towns, they need to cooperate with the
local community too. This stakeholder is external as they do not work within the business.
These stakeholders are concerned about their local environment and the surrounding
infrastructure therefore, any planned work by network rail must be complied by the local
community. Factors such as noise pollution and disturbance are highly considered by the
local community so, the business must follow government rules and guidelines. For example,
work must be completed during the daytime. Another factor of how the local community is
affected by network rail is that if they are building a train station in a small, deprived town,
they can positively influence the town by providing transport links to cities therefore,
residents don’t have to rely on other transport such as cars which would decrease the
number of cars on the local roads and motorways. Which supports the economy as more
people are using the railway service. However, if these stakeholders are not happy with
network rails plans then they can delay the overall expansion process and goals for this
business. Network rail can spend more of their funds due to delays and legal procedures due
to the local community's disagreement. Overall, this stakeholder has a significant influence
on networks rails success as they have power backed by the law to make complaints and
petitions regarding about their neighbourhoods and local infrastructure.
Voordelen van het kopen van samenvattingen bij Stuvia op een rij:
Verzekerd van kwaliteit door reviews
Stuvia-klanten hebben meer dan 700.000 samenvattingen beoordeeld. Zo weet je zeker dat je de beste documenten koopt!
Snel en makkelijk kopen
Je betaalt supersnel en eenmalig met iDeal, creditcard of Stuvia-tegoed voor de samenvatting. Zonder lidmaatschap.
Focus op de essentie
Samenvattingen worden geschreven voor en door anderen. Daarom zijn de samenvattingen altijd betrouwbaar en actueel. Zo kom je snel tot de kern!
Veelgestelde vragen
Wat krijg ik als ik dit document koop?
Je krijgt een PDF, die direct beschikbaar is na je aankoop. Het gekochte document is altijd, overal en oneindig toegankelijk via je profiel.
Tevredenheidsgarantie: hoe werkt dat?
Onze tevredenheidsgarantie zorgt ervoor dat je altijd een studiedocument vindt dat goed bij je past. Je vult een formulier in en onze klantenservice regelt de rest.
Van wie koop ik deze samenvatting?
Stuvia is een marktplaats, je koop dit document dus niet van ons, maar van verkoper Ktomas. Stuvia faciliteert de betaling aan de verkoper.
Zit ik meteen vast aan een abonnement?
Nee, je koopt alleen deze samenvatting voor €11,71. Je zit daarna nergens aan vast.
