'Business Studies Essay\r'

'What does the constitution of backing bastardly ? Usually, when filling out some material body of form, â€Å"character of assembly line” refers to the type or general category of argumentation concern or commerce you are describing. For example, if you worked at McDonald’s, the temper of your business is food religious services. â€Å"Nature of line” means what type of business your are doing? like Wholesale, sell or Service, Manufacturing, Marketing, and so forth If you want much specific, then HBA wholesale, gondola 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.\r\nFor example the nature of â€Å"Walmart” as a business is â€Å"Retail” and the nature of â€Å"Microsoft” is â€Å"Software. ” Internal and External Influences on businesses The external milieu includes those factors over wh ich the business has little control, such as political science policy, technology, economic conditions and social attitudes. The internal environment includes these factors over which the business has some academic degree of control, such as products, location, resources, management and business finis. External Influences on business ·stinting ·Financial ·Markets ·Competitive siuation Technological ·institutional ·Political ·Legal ·Social ·geographic If you had a shop and everyone decided to go to another shop that would be an econmic hap! If this continues for a month then the business would close, employees would be laid off, and landlords and suppliers bequeath not be paid. Charasteristics of boom perios †Higer lever of purpose -Inflation whitethorn increase †The level of outgo by consumers increases as they have more confidence in the economy Characteristics of recessi on period †Unemployment levels rise †Inflation may remain stable or befall Wages are less apparent to rise as employers †The level of consumption usually decreases Internal influences on telephone circuit †Product †The types of good and services pass on affect the internal operations of a business, The product influence and the size of the business - billet -A good location is an asset and will lead to high levels of sales and gain and a bad location is a liability that adversely affects sales and products ·Location Factors †Visibility, promixity to customers, promixity to suppliers and promiximity to support devices -Management- Resource management -Business culture Failure to SME failure ·Failure to jut out ·lack of information ·leaderhsip skills ·inaccurate book keeping ·new taxes ·not teeming sales ·economic turndown · supply difficulties Success to SMEs ·Entrepemtual abilities\r\n'