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Strategy

Types of business organisations

The main types of business organisations in the private sector in the UK are: sole traders partnerships companies franchises. The sole trader The sole trader is the most common form...

Industrial sectors

The main types of business organisations in the private sector in the UK are - sole traders, partnerships, companies and franchises. The sole trader is the...

Decision making

A business organisation is a decision-making unit that sets out to produce a product in the form of goods or services. Key decisions need...

Business strategy

A business strategy is the means by which it sets out to achieve its desired ends (objectives). It can simply be described as long-term...

Business structure

Every organisation made up of more than one person will need some form of organisational structure. An organisational chart shows the way in which...

External organisations

Businesses come into contact with a range of external organisations, including: Competitors Suppliers of services e.g. transport and communications suppliers Providers of assistance e.g. advisory bodies such...

Vision

The vision of a company is an outline of what that company wants to achieve. It needs to promote aspiration and inspire stakeholders, both internal...

Ownership

The owner of a business is the person who owns the business - i.e. has put the financial capital into the business and takes...

Types of organisation

The main types of business organisation in the private sector are illustrated in the chart below: Criteria For Judging The Success Of Business Businesses come in...

Public and private sectors

The main types of business organisations in the private sector in the UK are - sole traders, partnerships, companies and franchises. The sole trader...

Structure of organisations

Organisations are structured in radically different ways ranging from relatively fixed structures with positions, rules, and established chains of communication to dynamic structures in...

Trends in ownership and control

The owner of a business is the person who owns the business - i.e. has put the financial capital into the business and takes...

Legal forms of business

There is a range of legal structures associated with different forms of business: 1. Sole trader businesses are the easiest to set up because there...

Developing a plan including external influences

Developing a plan including external influences Developing a plan including external influences in order to set out a route map to help in achieving business...

The basic economic problem and opportunity cost

The basic economic problem is that resources are scarce relative to the purposes for which they could be put. As a result, choices have...

Primary secondary and tertiary activity

Business activity can be conveniently divided up into: Extractive (primary) Manufacturing (secondary) Services (tertiary). Extractive industries like farming take out things which are already provided by nature, for...

Relationship between size risk and profit

In the 1970s and 80s size was very important to a successful business. Large organisations sought to benefit from economies of scale in order...

Growth and decline of businesses

Businesses grow in a number of ways - e.g. by increasing sales and profits, employing more staff, operating from more outlets, producing on a...

Economic growth

Economic growth is important if businesses are to grow and prosper. It relates to growth in the output of the economy as a whole....

Methods of growth economies of scale

Businesses can grow either organically i.e. through internal growth where profits are ploughed back into the business or through external growth such as through...

Enterprise culture

To be enterprising, one must be willing to take risks and think creatively to find innovative solutions to problems. The term culture refers to...

Decision making and stakeholders

Decision making lies at the heart of business activity. Typical decisions include: what to produce, and how how much to produce, and what selling techniques to...

Financial information and decision making

The finance department of a company generates a variety of financial information that is helpful in decision making, including: Profit and Loss accounts provide details...

Decision tree analysis

Decision trees are graphical representations of alternative choices that can be made by a business, which enable the decision maker to identify the most...

Corporate and organisational culture

It is widely recognised that different organisations have distinctive cultures. A commonly used definition of organisational culture is 'the way we see and do...

Competitive advantage

Business strategies are a way for companies to gain a competitive advantage over the market or business rivals. Competitive advantage can be considered in multiple...

Devising and implementing a strategy

A strategy is a long-term plan for the whole organisation. Igor Ansoff defined corporate strategy as 'The positioning and relating of the firm/organisation to...

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