Explain the various resources required by a business to function effectively.
business
Description
Task 1 of 3 Word Portfolio (ACs 1.1, 1.2, 2.1, 2.2, 5.1
& 5.2)
Instructions
Select an organisation for which you can find details and
information easily and perform the following task:
1. Explain the various resources required by a business to function
effectively.
2. Explain the
different sectors of the economy, and state which sector your organisation
falls under.
3. Summarise the main
types of legal structure, and explain which one is used by your chosen organization
4. Copy the Business
Objectives of the organisation and underline key business terms You should then
explain what those business terms mean
5. Create a table
identifying the main stakeholders, their expectations and accountabilities
6. Create a mind map of the resources required by the organization
7. An explanation of
the concept of “Assets = Liabilities + Equity” and explain what a budget is
8. A table describing
3 ways to finance a business, including their advantages and disadvantages
Delivery and Submission ▪ 1-word document containing all of
the above
Task 2 of 3 Factors affecting Production and Workforce
Planning (ACs 3.1, 3.2, 3.3, 6.1, 6.2 & 6.3)
Instructions
1. Draw a diagram
showing the concept of economy and diseconomy of scales
2. Explain various
factors that influence the selection of location for a business.
3. Evaluate the
efficiency and effectiveness of a production process in a business context.
4. Discuss how effective motivation and workforce planning
helps businesses manage labour turnover.
5. Evaluate different motivation theories. 6. Evaluate contemporary
approaches to motivation
Delivery and Submission ▪ 1-word document containing all of
the above
Task 3 of 3 Presentation (As C4.1, 4.2, 4.3 & 4.4 )
Instructions
You are required to make a presentation with the following:
1. An introduction
providing an explanation of key marketing terms, including but not limited to:
market segmentation, Product Life Cycle, marketing, mass market, niche market,
Unique Selling points, etc.
2. A table explaining
the tdifferent types of market research
3. Draw and explain a
flow chart showing the marketing strategy to follow depending on objectives,
resources and market possibilities
Delivery ▪ 1x 10 minutes presentation
