BTEC Business studies unit 1 Essay example

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MEMO

To: Magazine Chairman
From: Xxxx
Date: 05/10/13
Subject: Important factors of new businesses

Many new businesses have opened in Luton so I have decided to send this message to you so I can explain the important factors of starting a new business.

A business activity focuses mainly on the accomplishment of business aims and business objectives. Different businesses have different aims and objectives.

A business aim is the target a business wants to attain within a limited time span which normally is 3-5 years. An example of a business aim can be making profit or expanding the business.

A business objective states what a business wants to achieve. They are the key to moving from your present system to your future one.

They have to be in SMART order so it is clear what progress the business has made: 1

Specific-easy to figure out
Measurable- it can be quantified
Attainable- it is possible to achieve
Relevant- practical or realistic
Time-bound- target is set for a specific amount of time.

An example of a SMART objective can be ‘to increase profits by 15% within the next 12 months’.

The main purposes of having an aim and objective can be to make profit, or so the business can provide services for the community.

All businesses have aims and objectives, for example:

The aims and objectives of Tesco:

To grow the UK core, to be an outstanding international retailer in stores and online, to be as strong as everything they sell as they are in their food, to grow retail services in all their markets, to put their responsibilities to the communities we serve at the heart of what they do, To be a creator of highly valued brands, to build their team so that we create more value.2

WWFis a charitable organization it was founded in April 29, 1961. The founders are Prince Bernhard of Lippe-Biesterfeld, Julian Huxley, Max Nicholson, Peter Scott ,Guy Mount fort, Godfrey A. Rockefeller. It is a large organization; it has outlets in more than 80 countries around the world and over 2500 employees. The sector of the economy which WWF operates in is tertiary, which is the third stage.3
The purpose of WWF is:4
To stop degrading the earth’s natural environment and to build a future in which humans can live in peace with nature by:
Sustaining the world’s biodiversity.
Ensuring that the use of renewable natural resources is sustainable.
Reducing pollution and wasteful consumption.

Caulie Accountants are a firm of Chartered Certified Accountants based in London and Luton, providing accountancy, taxation and consulting services. It is a private business and has 1-10 employees. The sector of economy it operates in is tertiary.5
Purpose of Caulie accountants:
To help their people meet all their accounting, taxation and consulting needs. They provide services centered on a person’s needs.5

Sainsbury’s is a business organization that was founded in 1896. The founders are John James Sainsbury and his wife Mary Ann Sainsbury, in London, England and grew quickly during the Victorian times. It became the largest grocery retailer in 1922; in 2003 Sainsbury’s became the third largest chain of supermarkets in the United Kingdom. It has over 15,000 employees and around 1016 stores. The sector of economy it operates in is tertiary.3
Purpose of Sainsbury’s:
To provide a ‘value for money’ and a place
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