Business Studies

What does the nature of business mean ? Usually, when filling out some kind of form, nature of business refers to the type or general category of business or commerce you are describing. For example, if you worked at McDonalds, the nature of your business is food services. Nature of Business means what type of business your are doing? like Wholesale, Retail or Service, Manufacturing, Marketing, etc. If you want more specific, then HBA wholesale, Car Service, Furniture manufacturing, health Drinks Marketing, etc. The nature of business, means what exactly your business is doing and what is the service/product you are offering. For example the nature of Walmart as a business is Retail and the nature of Microsoft is Software. Internal and External Influences on businesses The external environment includes those factors over which the business has little control, such as government policy, technology, economic conditions and social attitudes. The internal environment includes these factors over which the business has some degree of control, such as products, location, resources, management and business culture. External Influences on business  ·Economic  ·Financial  ·Markets  ·Competitive siuation Technological  ·Institutional  ·Political  ·Legal  ·Social  ·Geographic If you had a shop and everyone decided to go to another shop that would be an econmic disaster! If this continues for a month then the business would close, employees would be laid off, and landlords and suppliers will not be paid. Charasteristics of boom perios Higer lever of employment -Inflation may increase The level of spending by consumers increases as they have more confidence in the economy Characteristics of recessi on period Unemployment levels rise Inflation may remain stable or fall Wages are less likely to rise as employers The level of spending usually decreases Internal influences on Business Product The types of good and services will affect the internal operations of a business, The product influence and the size of the business -Location -A good location is an asset and will lead to high levels of sales and profits and a bad location is a liability that adversely affects sales and products  ·Location Factors Visibility, promixity to customers, promixity to suppliers and promiximity to support devices -Management- Resource management -Business culture Failure to SME failure  ·Failure to plan  ·lack of information  ·leaderhsip skills  ·inaccurate record keeping  ·new taxes  ·not enough sales  ·economic turndown  ·staff difficulties Success to SMEs  ·Entrepemtual abilities

Are politicians from particular backgrounds or with certain Essay

Are politicians from particular backgrounds or with certain personality types more susceptible to being caught up in a political - Essay Example In general, a good public servant should closely observe and maintain good family values. Therefore, it is the moral duty of each politician to avoid engaging themselves in any form of infidelity scandals (Doherty and Dowling, 2011, p. 753). Aside from illegal use of public funds, other issues that can be exposed to the public include alcohol or substance abuse, administrative corruption, bribery, conflict of interests, eating disorders, financial or family problems, infidelity, psychological, mental, or physical illnesses, sexual misbehaviour, and vote buying (Moran, 2012; Fleming, 2006, p. 77; Haldane, 2004, p. 202). With the CPI score of 17, UK ranked the 17th least corrupt country worldwide (Rogers, 2012). Unfortunately, UK’s CPI score of 17 in 2012 has decreased from its 16th ranking position back in 2011 (Rogers, 2012). Back in 1970s, John Stonehouse who was a Labour Member of Parliament (MP) received 21 charges for conspiracy, fraud, forgery, and theft and was imprisone d for seven (7) years (Bloxham, 2010). A good example of moral conduct violation is sex scandal. Back in 1970s, Jeremy Thorpe who was a leader of the Liberal Party was not only involved in a homosexual scandal with his male lover but was also accused of consipracy (Bloxham, 2010; White, 2010). Recently, John Profumo – the Secretary of State for War in 1963 was engaged in a sexual scandal for having an affair with Christine Keeler (Evans, 2013; Haldane, 2004, pp. 202 – 203). Considering the long-list of political scandals which occurs both in the local government authorities and the British royal families, it makes a lot of sense to ask questions such as whether or not politicians coming from a particular political, family, or social background or those with certain types of personality are more susceptible to being caught up in a political scandal as compared to others. Is there any close relationship between certain political, family, or social background and the risk s where in the politicians could get themselves involved in a political scandal? Is there any truth behind the idea that political leadership is hereditary? Are certain types of personality increases the risks wherein a politician would be tempted to engage themselves in illegal and immoral acts? What are the common factors that make politicians engaged themselves in a world-wide political controversy? Political Background in UK In the world of politics, Stokes (2005, p. 2) explained that political jobs are meant only for some people who belong to a particular background. For example, as a common knowledge, politics in UK is based on a unitary democracy which follows the structure of a â€Å"constitutional monarchy† (Mannin, 2010, p. 64). Specifically the nature of UK’s political background clearly explains why the English Parliament is composed of the Monarchy, the Lords, and the Commons (Mannin, 2010, p. 63). Based on UK’s current political structure and pract ices, the Monarch is considered as the leader of the state whereas the Prime Minister of UK is referring to the person-in-charge of the government. In general, the monarchy plays a role in the UK politics. Even though the executive or political role was already removed from the British Sovereign (The British Monarchy, 2014b), the King or Queen are still expected to perform their national duties such as

Making decisions in business Essay Example | Topics and Well Written Essays - 3000 words

Making decisions in business - Essay Example In such context, the researcher has decided to go deep in the topic of business research in order to understand how data is being collected and how this data can be analyzed in order make valid business decision. The essay will also take example of case study regarding sales revenue in return of Facebook marketing in order to shed light how statistical calculation is used for analyzing data. But, in the first section, the essay will shed light on data collection procedure. 1.1 Collection of Primary and Secondary Data Saunders, Lewis and Thornhil (2009) pointed out that researchers should be careful while collecting data regarding given business problem because business research is significantly different from academic research. For example, business researchers should focus more on real time data such as sales revenue after integrating certain advertising measures while academic researcher focus more on historical data in the form of literature review. For a business problem, researc hers can use two types of data source such as primary and secondary. 1.1.1 Plan According to the instruction, I have been approached by marketing department of Blue Marketing in order to help them to analyze the success of the new social media (Facebook) marketing campaign which has been designed for their client cocktail cosmetics. Data sources for analyzing the success of marketing campaign can be following types; Data Sources Characteristics Validity Secondary Data Previous result of such kind of marketing that has been prepared by the company for other clients. Historical data from the company database regarding industry trend on social media marketing trend. Available business report on global social media marketing trend. Financial report of cocktail cosmetics which can serve as basal plan for understanding the resource capability of client for funding digital marketing campaign. No. of likes is Facebook page of the social media marketing campaign of cocktail cosmetics. Data s ources should not be old (not before 2011) while each data should be collected after cross checking the authenticity. Data should be collected from updated databases and previous social media advertising campaigns should be adjusted as per present condition and size of cocktail cosmetics. Number of likes in Facebook page can help the Blue Marketing to assess the popularity of the campaign. These data are being collected in real time manner hence there is no question on data validity. Primary Data Sources Daily sales revenue data, Facebook Posts (FP) and Fan interactions (FI) are three major primary data sources for Blue Marketing to analyze the performance of the designed social media campaign. Survey method can also be used in order to collect data from Facebook users regarding their opinion about the campaign. Reliability statistics should be used in order to test the autocorrelation between the sample data and data having low responses having low should be deleted in order to inc rease validity of the data. Secondary data should be collected by accessing internet sources and paid business databases while primary data can be collected by visiting the Facebook page of the campaign and customer interaction page in Facebook. Sales data can be colle