Business Studies Essay

What does the nature of rail line mean ? Usually, when filling out almost human body of form, nature of task 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 diet services. Nature of Business means what type of business your are doing? uniform Wholesale, Retail or Service, Manufacturing, Marketing, etc. If you want more specific, whence HBA wholesale, simple machine 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 impertinent environment includes those factors over which the business has little control, such as presidential term 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 governmental 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 smash 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 output The types of good and services will affect the inter nal operations of a business, The product influence and the size of the business -Location -A good location is an addition and will lead to high levels of sales and profits and a unspeakable location is a liability that adversely affects sales and products Location Factors Visibility, promixity to customers, promixity to suppliers and promiximity to prolong devices -Management- Resource management -Business culture Failure to SME failure Failure to propose lack of information leaderhsip skills inaccurate record keeping new taxes not enough sales economic turndown staff difficulties Success to SMEs Entrepemtual abilities