2020 (DISTINCTION*) Pearson BTEC Level 3 Unit 1 Exploring Business Assignment 1
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Farhaan Muhammad
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Pearson BTEC Level 3 national Foundation Diploma in Business Unit 1: Exploring Business- Assignment 1 Learning Aim: A: Explore the features of different businesses and analyse what makes them successful B: Investigate how businesses are organised Assessor: Suzanne Sharples
Assignment title: Features contributing to the success of contracting businesses
Introduction This assignment has been studied for a Public limited company and a non-profit organisation, which therefore is Tesco PLC and Cancer research UK has been chosen. The characteristics of these two successful companies will be carefully explored. Therefore, an introduction will be implemented which will be contrasted with the following ownership and liability, company establishment, liabilities, purpose and industrial sector of the two companies.
1/A.P1 Explain the features of two contrasting businesses
Summary
Cancer Research UK is a non-profit organisation a registered charity. A non-profit organisation like Cancer Research is an organisation that doesn't receive cash for its owners has an objective like donating cash to social causes. A non-profit organisation has much more to do than just make profit. The characteristics of a non-profit organisation are that it is not based on the concept of profit making. Although it is certainly a significant consideration to make as much cash as possible (to have the greatest possible resources to offer individuals in need too). A nonprofit organisation like cancer research is focused on offering as much social assistance as possible. A non-profit organisation is fun, not for private gain, for the advantage of the 1 Downloaded by: ajackson | a.jackson@baconscollege.co.uk Distribution of this document is illegal
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public. They're not out there to make a profit, so they get additional government support that includes tax exemption, so they don't have to pay taxes. The purpose of Cancer Research UK is to provide efficient cancer research and to attempt to increase awareness. Established in February 2002. Cancer Research UK attempts to define causes and create prevention, diagnosis, therapy, and cure strategies. The non-profit organisation was established by forming the campaign for cancer research and the Imperial Fund for Cancer Research. The organisation per annum reaches around £634.81 million. Ownership and liability Cancer research is clearly a non-profit organisation out of the three company sectors (public, private and non-profit). This means its organisation with the aim of doing something socially good instead of just making a profit. They are getting funded, raising cash, and accepting donations. Cancer research as a UK registered charity, is a charity that works for charitable purposes and must devote its resources and resources to charitable operations. The charity must be resident in the United Kingdom and cannot use their revenue to help their trustees. As a charity, the benefits they receive should not be used for their members ' private use. There are trustees in a registered charity, such as cancer research, considered as the equivalent in a public limited company as a shareholder. These trustees form a charity's governing body. The trustees are the people who make the large choices. They have a legal function to guarantee that revenue from the organisations is well spent, in the correct manner, and that any debts are evident. Trustees generally select a board of directors for charities, which is headed by a chief executive, just like a PLC. As a registered charity, cancer research is responsible for the misuse of donation money they are caught. That's the trustees ' job of making sure the money is given to a good cause, not for personal use or gain. Therefore, another responsibility would be to ensure that for any reason the organisation is not fined or in trouble. This is the responsibility of the trustees, as they also regulate the company by the authority. This leads to the liability of the charity if it went to a loss it would mean losing all of the money which was funded towards the charity. Purpose The purpose of Cancer Research UK, as a non-profit organisation, is to provide a solution to the dilemma of life loss through cancer form. Being a globally renowned charity, they can alternate the lives of so many unfortunate individuals across the entire world. One goal that UK cancer research has is to provide the world with a secure, cancer-free future. By providing sustainable programs, public education and multiple campaigns to help raise awareness, Cancer Research UK is trying to fulfil these goals. By doing all this, they want to achieve innovative and practical ways of learning from or working with other organisations on a much wider scale. The vast advances in the fight against cancer have been recognized by Cancer Research UK. Less than a quarter of people diagnosed survived in the 1970s, another last 40 years, survival has more than doubled, a half will know how to survive. The ambition of cancer
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research is to speed up the progress of survival for cancer. However, within the 20 years, expectations have it that at least three quarters of people will have to survive the disease. Cancer research UK does not only aim to fight cancer only in UK. Therefore, it helps the entire world and make a good impact globally. It’s a popular non-for-profit organisation especially in Europe. It has one of the most advanced cancer research centres globally. The donations and funds that they gain is used on their scientific research and health care operations. Therefore, this leads to local communities helping fighting cancer together in a large scale. Industrial sector Cancer research UK is not included in one industry sector because it provides a service and helps people therefore it produces products. It is therefore secondary and tertiary as it demonstrates the service of health care and education, as this shows it is tertiary due to providing a service for health care and education. They are also secondary as they build new equipment and develop new cancer fighting methodology. Scope of Business Cancer Research UK, although its study and methodology is used on a worldwide scale in the fight against cancer, the non-profit organisation itself works on a domestic scale, operating only in the UK. Size of a business Cancer research being globally known as very successful; it is large business. Being honest and working to fight cancer they sure to have many volunteers to help them along the way. The number of employees working for cancer research are 44,000 employees. Om the other hand, only 4,000 of these are getting paid which leads to 40,000 people being volunteers. in fact, this is in United Kingdom alone. Employees like chief executive officers and lead scientists for cancer researchers are the ones getting paid. The volunteers, even though they work for free their travel expenses are claimed for.
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Tesco PLC (Public Limited Company)
Summary
Tesco’s boasts over 6,300 stores globally as a major UK retailer. As such a large retailer, Tesco has pledged to be committed to delivering products of sustainable value to both its stakeholders and its clients. Owning an equity or a stake in the company are called Shareholders as they have an interest in the business. Tesco is extremely dedicated to their high product requirements and guarantees that their own branded products are very high standards for their stakeholders: including food, apparel and home goods. Purpose of being PLC The public limited company's (Tesco) intention is to provide the peak possible service to its customers while ensuring they have the necessary products. This would primarily maximize earnings for their shareholders while maintaining a healthy reputation and connection with their clients and stakeholders. The motto of Tesco's is "Every little help." They strive to offer high quality products, including food and daily needs such as clothing and fundamental home furnishings. Ownership and Liability Tesco is an organisation of the private sector. This means that they are a share of the economy that is not directly influenced by state control. Tesco plc has a private sector organisation that means the company has multiple shareholders and has no government involvement or ownership. Tesco's ownership is a PLC whose shares on the stock exchange market can be freely sold to the public. Tesco's plc's largest shareholders are BlackRock Inc., a Global Multi Asset Revenue Fund, with a £ 1.13 billion stake in Tesco PLC. The firm has a limited liability as a Public Limited Company. Tesco's liability is financial debt and obligations that arise during their operations. Limited liability means shareholders are legally liable for the company's debt only to the extent of their share's initial value. This 4 Downloaded by: ajackson | a.jackson@baconscollege.co.uk Distribution of this document is illegal