Explain the various resources required by a business to function effectively.

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

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