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__Topic 1 - Role of business in society:__ (Talked To Owners and used Leckie And Leckie Course Notes 8-|)

Castle Joiners is a Partnership owned and controlled by my Dad and Uncle. It creates wealth by providing Building services for the Public. They do conservatories, extensions, Garages, Joinery, Fits inside houses (kitchens, bathrooms, bedrooms etc.). It creates wealth by providing the Public with services in exchange for money to pay for the materials and labour. It changes old houses interior/exterior from old and dated to new and modern. Its a 2 man show at the moment but in the future they hope to expand there business out so more and more people and working for them. If they manage do this they will pay out a wage to there employees and then they keep all the profits :-D. __Topic 2 - Types Of Business Organisations:__

The business was set up a few years ago. It was set up as my Dad had another business partnership called G & R property maintenance but the other partner quit so it had to be abandoned and then was the founding of Castle Joiners. Castle joiners is a Partnership owned, controlled, managed and worked by 2 people; since its founding 3 years ago. Castle Joiners is in the Private sector as it is a Partnership. It has Unlimited liabilty so this means that if the business fails everything can be lost, from cars to houses etc. Disadvantages of a Partnership is that sometimes disagreements can sometimes occur and one of the partners could give up and leave it all (As of previous experience). Well written Jordan - Mr H

__ Topic 3 - Objectives of Business: __

The business objectives of castle joiners is to expand into a Company ( e.g. a Plc or Ltd) and to employ alot more people so that more wealth can be created. Also so that more word spreads about Castle Joiners and more Capital is gained. The Business Objectives are pretty realistic as more profits are being made as the years pass so they might have a bigger chance of expanding into a Ltd or Plc (Limited Company - shares are to share holdersand get 'shared' between them and the owners etc.) They will know if they are sucessfull if they get more people working for them and if their profits continue to rise. Great answer - you have shown that you understand this part well __ Topic 4 - The Role Of The Entreprenuer __

The Entreprenuers of Castle Joiners are Robert And Phillip. They founded the business a few years ago and ever since they've kept it going strong. For work they advertise their company in newspapers, post leaflets and hope that previous customers have passed on a good word about them so then they can get work done on their property. When they get work they then have to look at the work that needs/wants done and estimate a price for it. If the customer wants to go ahead with it then they buy in the materials, do the work, get payed for the materials and hires, and then for the labour which pays the wages for the 2 of them. The extra money either goes back into the business or shared equally. What risks did they take in the beginning? __ Topic 5 - Stakeholders __

The stakeholders (a group, a certain person, individuals and organisations) in Castle Joiners consist of internal stakeholders and external stakeholders. The internal stakeholders are the employees, manager and owner(s). The employees ask for job security, better pay, and good working conditions. they also want promotional prospects. This is the same with managers. The external stakeholders of the business are the suppliers, banks and lenders, customers and the government. The suppliers will want more orders from you and assurance that you willpay them on time. Banks and lenders will want to lend you money but again ask you in assurance that they wil get that money back. Customers ask for the goods and services that you provide for a lower amount of money than what another company has quoted it for. Customers may also want some more business done so this gives you the chance to earn more money and custom. Lastly the government wants you to keep your business within the law, provide employment and pay your taxes. Altogether these make up the stakeholders of business.

__ Topic 6 - Methods Of Obtaining Finance: __

Ways that Castle joiners could obtain finance could be to arrange a bank overdraft, Get trade credit, Get a government grant, Share issue, Using retained profits or getting a bank loan. The most convienent method of obtaining finance for this type of business would be to use retained profits or get trade credit. Using retined profits in a business is where you use previous money that you had/ profits and then put it away for when you might urgently need it. Getting trade credit is when you get stock from suppliers and they allow you to take it away and pay it back at a later date. e.g. the end of the month or "buy now pay in 6 months". This allows you to make money from the products that you used and then use them in your jobs, then when you get payed from the job you can then pay the trade creditor or the materials you used. If you are happy with the trade creditor you can then get further supplies from them and recommend them to other companys so they can hopefully give them more business.

__ Changes In Business Environment: __

__Internal:__ Finance has to be considered here. If there is a lack of finance in a business then that business will have to consider cutting costs. these may include cutting staffs jobs, downsizing, delaying order requirements or new product development.

Good decisions made by the management can have a positive influence on the business.

If the governments increses tax's and VAT then this would have a negative affect on the business as less profit would be coming in as the government is taking a part of it.

The use of ICT (eg computers and fax machines) used within the business can influence the quantity and quality of the products produced.

"If The business possesses good quality market research information a business will be more capable of responding to customer needs".

If Expert and reliablely capable staff work for the business then that business will be better at and more productive at there work.

__External:__

Political Factors: Political factors that effect Castle Joiners would probably mostly be the credit crunch. This means the value of money is going down and business are being affected. Most businesses that have been affected have gone into recession, These businesses usually dont recover.

Economic Factors: Recession again is most likely to effect this business as there is more unemployment and less people can afford to get work done as higher interest rates mean that they will have less money to spend on what they want.

Social Factors: Social Changes that affect Castle Joiners would be the democratic changes, This is the movements in size and distribution of the population, Which basically means that there could be more work needing done in one part of the city/county than in another part.

Technological Factors: Technology is important for the business to be successfull. This is as firms and businesses must keep up with the newest technology, e.g. Emailing, Using the internet to advertise, Databases to attract customers, Graphs on Customer satisfaction etc. If businesses dont keep up with these then they could face losing customers, sales and profits.

Environmental Factors: Environmental factors must be considered in the designing and building of extensions/conservatories etc. These may include storms, pollution, weather, floods, and the location of the property. If these are not considered then the build may be damaged.

Competitive Factors: In the building trade there is a lot of competition. These businesses are roughly the same and provide customers with the same services, To get on top of these business you need to try and become the best you can. For example: lowering prices for the same work and satisfaction so the customer can get the exact same thing done for a little bit cheaper, this means that a little of the profit you would have got would have been lost, but you had the pleasure of completing the work needed done and then hopefully the customer would recommend you to other people, This would get you more profits and more customer satisfaction.