Section A 1.(a) Sole trader is a person that is self-employed . He or she runs the business on their own and has sole responsibility for its success or failure. Tertiary sector refers to the section of the economy where business activity is concerned with the provision of services to customers. People that work in tertiary sector provide services to their private and corporate customers. (b) There two types of strategic objectives, middle term and long –term aims. These are important in managing Les Maisonnettes. Sophie’s long term plan is to make eco-tourism as the main focus of her business, at the same time it would better for Sophie to make specific targets like improving guests visits rate by 30% in the Christmas holidays by advising …show more content…
3(a) (i) Market share refers to a measurement of the value of a firm’s sales revenues as a percentage of the industry total.A business with 35% market share means that every $100 sold in the industry the firm earns $35 of the sales revenue. (ii) She can use quantitative data and those are research findings and analysis from companies like French Tourist Board, Chamber of Commerce etc. Professional consultant in the specific area. Websites like booking.com (French version of it) (b) Les Maisonnettes has a huge difference comparing to Sanctuary. Les Maisonnettes offers French style accommodation with different kinds of so -called Eco tourism.Sophie cooperates with local business and encourages activities that have minimal environmental impact such as horse riding ,hiking, canoeing,fishing. Sanctuary as a big company provides ordinary facilities as in different resort places. Sophie’s restarant offers French food made of fresh local products,when Sanctuary is using cheap …show more content…
I can see that Sophie is willing to make changes by making a website ,and make a partnerships to more local shops)She needs to develop in all aspects ,not only in accommodation! Section B 4 (a) I think that Sophie has a laissez-faire leadership style! She has a minimal direct input into the work of the employees! As her stuff members are her family, she can’t really force them to do something. This style of leadership can lead to high level of motivation as staff feels trusted and highly valued by Sophie! But in general this is a big problem that should be solved due to the absence and poor punctuality Sophie should change her attitude to employees ,to meet changes (b) As EU changed their law ,Sophie is required to make some changes. For example her employees are supposed to have certificated knowledge according to who they work as. Sophie as a employee should pay for education. (c) Section C (a)
Tertiary sector of industry also known as the service sector or the service industry is one of the three main industrial categories an a economy, the others being the secondary industry manufacturing, and primary industry extraction such as mining, agriculture and fishing The tertiary sector of industry involves of providing a services or a product to businesses as well as final consumers. Services may involve the transport, distribution and sale of goods from producer to a consumer as may happen in wholesaling and retailing.
The supermarket Tesco operates in the tertiary sector which is where all the final products are sold to customers for a price higher than production to make company profits, they can also be part of the secondary sector which is the way they sell their own products which come under the Tesco brand.
It allows the company to move towards its goals efficiently and effectively. Being specific in the objective sets a clear picture of what is need. Including systems to measure the output and success of the objective allows for future improvement and to ensure thing stay on track. A company always wants to ensure that their objective is achievable. The tasks should be challenging but not create hardship or frustration. Objectives that are realistic take into account the skills, funds and other resources available to completing the task. In the case of Maersk, an example of following a SMART objective was the response by the company to the 2008 recession. Maersk’s HRM team had to set short term objectives to maintain growth while improving its workforce. The implementation of different strategies aided the company in its successful development and hiring of qualified candidates to support the short term
All set ups will have specific ‘Aims and Objectives’ for their respective businesses. Aims are the broad terms
...at support the grand strategy then the development of short-term objectives that in turn support the long-term objectives.
Chapter 13: Strategic Managers 19. Literature list 20. Enclosure Introduction. During the lesson we had the opportunity to read quickly through some of the cases. The reason why we have chosen the Home Depot case is first of all that th... ...
Business strategy is the means by which firm’s plans to achieve its goals and objectives. It can also be termed as organization long-term planning. The strategy covers periods between 3-5 years and sometimes longer. Businesses use two major types of strategy, general or generic and competitive strategies. The overall strategy involves strategies of growth, globalization and retrenchment. The competitive advantage includes low pricing, product and customer differentiation. We will look at the business strategy used by Marks and Spenser (Cole, 1997). The company is a British multinational located at Westminster London and specializes in clothes and luxurious food products.
There are many different types of business structures, but if you own and operate a business that it is a sole
The scope of this essay is to address coherently with examples a number of key areas of strategy; strategy and its importance, challenges in relation to development and implementation of strategies, and a discussion of the relevance of strategy in the modern
A Sole Trader is a business that is owned by only 1 person. They are
The secondary sector is concerned with producing manufactured goods, and the tertiary sector relates to producing services.
The primary motive for organizations to do strategic planning is to learn and to make decisions about the future of the organization based on that learning.
An organisation’s mission is the back bone of all strategic decisions; the mission will have an influence on all activities performed within the organisation, because if they aren’t achieving their mission an organisation is failing. The long term strategic goals of an organisation should directly aim to achieve their mission and these goals are what performance can be measured off. Without specific goals attempting to measure performance is pointless, and identifying who or what the main focus of these goals is the key to optimisation.
The key role in solving strategic tasks belongs to strategic planning, which is the process of developing and maintaining strategic balance between organization’s goals and resources in the changing market environment. The purpose of the strategic planning is to determine the most promising fields of activity providing its growth and prosperity. Strategic planning is a component of a broader concept “strategic management”. All four management functions (planning, organizing, leading and controlling), when talking about strategic management include strategic orientation. When viewing strategic planning from the highest level possible within a company, the planning function is the area that stands out as the most important area which involves a great deal of development and focus.
The statement of a mission encourages one to progress to succession. A mission statement involves strategic planning in ...