Business Size and Location

Business Can Be….. Small Local Medium National Large Multinational

Small business – under 50 employees SIZE OF BUSINESS Small business – under 50 employees Sole trader, partnership, local Medium business – 50 – 250 employees Private limited companies, national Large business – 250 employees or over Public limited companies, multinational

LOCAL BUSINESSES Small in size eg a sole trader or partnership They employ less than 50 people Have a limited number of outlets Accountants, Solicitors, Dentists Plumbers, Electricians Hairdresser

Most have household names Are easily recognised Have a large workforce NATIONAL BUSINESSES Most have household names Are easily recognised Have a large workforce Have branches in major towns Boots the Chemist River Island Specsavers

MULTI-NATIONAL BUSINESSES Sell goods and services worldwide Operate in more than one country Have offices/factories/retail outlets in more than one country Ford McDonalds IKEA Shell Global Market What is this and what benefits does it offer

Benefits of Globalisation Increase sales/market share/profits Greater brand recognition Locate in cheaper locations Cater to local needs Economies of Scale Receive incentives from governments Task 1

BUSINESS AIMS AND OBJECTIVES What a business wants to achieve

What does a business what to achieve: Survival Profit maximisation Provide a quality good or service Customer satisfaction Increase market share Social responsibility Enterprise Growth Efficiency Take notes as your teacher explains and discusses these.

What do you think are the most important aims of the following businesses?

AIMS DEPEND ON: The type of business – sole trader, partnership or limited company The sector of the economy – private, public, voluntary The sector of industry – primary, secondary, tertiary The level of competition The product or service they produce

Social Responsibility PRIVATE SECTOR Survival, Maximise profits Expansion/Growth PUBLIC SECTOR Help people Improve services Efficiency Sectors of Economy Different Aims VOLUNTARY/THIRD SECTOR Help people Social Responsibility Provide a service