Economic Roles of a Business Essay Example for Free

Economic Roles of a Business Essay A business is an organisation that attempts to satisfy the needs and wants of a community by providing goods and services, however, a business does not exist only to serve the community, it also exists to maximise the financial investments of their owners. This is done through the social and economical role of a business. Economic roles are concerned with the financial impacts that the activities of a business have on various groups in the business environment. The economic roles are wealth creation, employment and innovation. Social roles are focused on the impacts of a business on the community. Social Roles are entrepreneurship, choice and quality of life. Economic roles are important for a business as they can increase the value and funds via wealth creation, employment and innovation. Wealth creation is done by increasing sales and developing strategies to promote brand awareness and sales. This will increase the value of the funds that owners have invested in the business. Businesses also generate increased wealth for the community. The profits generated are then taxed by the government in order to fund essential services such as improving educational, health and transport facilities. Employment is where the owners of a business will employ other people to perform various activities within the business. The goods and services that businesses provide to the community are formed using knowledge, skills and effort of human resources, because of this, employment is an important function in business. The third economic role, innovation can be defined as the process of improving the features of a product. It could also apply to the production process where improved methods of production are implemented. The new methods may make use of fewer resources and result in increased output, which would benefit the business in many ways. In the business environment, innovation is crucial for a business to maintain its competitive advantage over other businesses. The social roles of a business impact communities by improving their quality of life, choice in products and providing entrepreneurship. The quality of life of a community is improved through the variety of products and services provided by businesses. Organisations spend millions of dollars each year in business research and development to find ways to improve the quality of life. Many of the products that businesses provide are wants and not needs; they are often aimed at providing greater convenience for those with a busy lifestyle. An example of this is pre-prepared meals. Through the production of these products, the financial investments of the owner of the business are maximised. Most businesses operate in a competitive market; this means there is a large number of competitors offering similar goods and services. This provides a range of choice for the consumers. This choice encourages businesses to provide their products and services at the lowest possible prices, with the highest quality. Choice also encourages a business to be innovative and different from their competitors so that their product will be the one chosen by the consumer and profits can be made. An entrepreneur is an individual who has developed particular ideas and is willing to take a risk to execute these ideas through a business. They take risks by thinking up strategies for their ideas to be successful; this is why they pursue different goals as part of the operation of business. Through business entrepreneurs are given an opportunity to make their ideas a reality. The economic and social roles of a business, wealth creation, employment, innovation, quality of life, choice and entrepreneurship, are important to maximise the financial investments of the owners, without them, a business would not thrive or gain profits.

Nigger: Historical and Current Use Essay -- Language History Discourse

Nigger: Historical and Current Use â€Å"Nigger: it is arguably the most consequential social insult in American History, though, at the same time, a word that reminds us of ‘the ironies and dilemmas, tragedies and glories of the American experience’† (Kennedy 1). Harvard Law Professor Randall Kennedy’s book Nigger: The Strange Career of a Troublesome Word is at the center of debate because of its controversy. It addresses questions among a diverse audience of students and scholars of all racial and ethnic backgrounds in its quest to discover how and why the word should or should not be used in modern day America. As a black American male, the word nigger conjures up within me hate, hostility, violence, oppression, and a very shameful and unfortunate part of American History. The word symbolizes the everlasting chains of a people plagued with hate and bondage simply because of skin color. For many black people, including myself, nigger is the most pejorative word in the English language. Even when compared to racial slurs like kike, honkey, cracker, wet back, spic, jungle bunny, pod, tarbaby, and white trash, nigger is noted as the worst insult in the English language. The word nigger suggests that black people are second class citizens, ignorant and less than human. While many blacks and whites agree that the word should not be censored from the English language, it certainly should not be used by all people because of its historical significance. For example, black militants believe whites should never use the word nigger. On the other hand, the word nigger has been â€Å"reclaimed† by black youths particularly in the hip-hop culture. These modern day teens claim that it is just a word and that people give words meaning rathe... ...f National Association of Black Journalist. (1999). Fall 1999. . Eastwood, Lauren. Personal Interview. 10 April. 2002. Glory. .Dir. Edward Zwick. Perf. Man Broderick, Morgan Freeman, Denzel Washington, Cary Elwes, Andre Brausher. Tri Star, I989. Kennedy, Randall. Nigger: The Strange Career of a Troublesome Word. New York: Pantheon Books, 2002. Naylor, Gloria. â€Å"Mommy What Does ‘Nigger’ Mean?† New York Times. 20 Feb. 1986. Pilgrim, David. Jim Crow Museum of Racist Memoribilia. Fall 2002. . Saxon, Shani. VIBE Magazine. Fall 2002. . Thomas, Alex. Fall 2002. . White, Jackie. â€Å"Dealing with the N-Word.† Time Magazine. 2I Jan. 2002. Wickham, Dewayne. â€Å"Book Fails to Strip Meaning of ‘N’ Word.† USA Today. 2 Feb. 2002.

Promote Professional Development Essay

It is important to continually strive to improve our knowledge and the way we practice, this can be applied to personal or professional goals. Developing our potential, will enhance our work role and promote our talents. It enhances our lives and contributes to achieving our dreams and aspirations Continued professional development is important, and it’s not just about attending training courses. It about promoting a culture for learning, with work based learning at the centre of this. In order to meet the needs of its service users. This enables staff to keep up-to-date with current legislation, care standards it expands their knowledge, and helps the meet their full potential, it promotes a culture of lifelong learning It enables them to carry out their work roles as per their job role/ description in a safe and competent manner. It keeps staff motivated, and feels valued. The GSCC code of practice states that all social care employers must provide training to enable staff to develop their skills and knowledge. CPD helps to raise standards of care, which is very important to comply with current standards and legislation and also meet the needs and aspirations of the users of the service and for employers have a competent workforce. CPD benefits the employer, the employee and the services users that they support, better knowledge leads to better practice, to deliver a high quality service, that is accountable To promote professional development, we also need to look at the potential barriers that can occur, when trying to promote staff development/ implement change. These can be things such as lack of understanding of why we need to change or develop. It can emotional barriers that staff fear the activity, or fear being judged, age can also be a barrier, staff think that they are getting older and don’t wish to develop further/coming to the end of their working life. †¢Financial barriers/ budget restraints can be barriers, so looking at other way we can deliver training or aid development is needed such a sourcing training that is free of charge is one possible way to overcome this barrier. †¢Training being in another country/ distance/ time, this is a problem for our schemes in England, other problems faced is having enough staff requiring the same training here in England to justify the trainer flying over hear. A possible way that this can be overcome, could be maybe training more staff over here that can deliver certain training, and become training champions, working together so that all our staff training is due at the same time, would then make it more cost effective to have trainers over from Ireland. †¢Parental responsibilities/ single parents/ child care/ work life balance. Working around a young child can be a juggling act. In order to support parents, we should give as much notice as possible to enable them to find child care. Be flexible in our approach, offer flexible working and offer advice and understanding of their difficulties. †¢Staffing levels/ lack of cover, being short staffed and then having other staff on training can cause stress and strain on the service. One way to possibly combat this is staggering training days, and getting in relief staff if budgets allow. †¢Intellectual barriers/ over confident/ don’t feel they need to be trained, I think that in this situation it needs to be discussed during supervision/ appraisals, assessments and feedback. Identifying area’s that are lacking, discussing the benefits of CPD, how it will enhance their role and job satisfaction/ better understanding of their role and responsibilities. The importance of continually keeping skills and knowledge up to date to meet current standards, and to be able to practice. Offer ongoing encouragement. †¢Lack of encouragement from management. If staff feels that they are not being supported or encouraged they need to bring this up at supervision/ annual appraisals. Identify what they need and speak openly with their manager, as supervision should be a two way process, ask their manager for a supervision contract and agree goals and aim for the future. If the manager continues to fail to provide encouragement staff or development opportunities then staff should put in a grievance. There are many sources and systems of support to promote CPD and supervision, being the one that is used most of all. Mentoring to new staff can provide a great source of support; Mentors can pass on their experience and knowledge to the mentee. They can provide guidance and support to aid mentee’s learning, and development. They offer advice and provide feedback about skills and knowledge of the mentee. They can support the mentee to evaluate and develop their new role, provide practical help and guidance. They aid the mentee to learn, and identify areas for improvement. Another source is coaching, this is more a 1-1 process, designed to develop management and leaderships skills/ potential, such as with team Leaders and their managers. I have found my own manager’s coaching, has been really helpful. In identifying my goals and what I need to do in order to develop. They can offer advice, provide useful hints on how to manage the team, promote change and how to deal with challenging behaviour from other staff members, and how to manage the team to accept changes within the workplace. Help to identify career goals, and plan what skills are needed for progression, build confidence Other sources are annual appraisals, this looks at plans for future development, sets goals and targets, with a time scale and how it will be achieved. Reading company policies and procedures, helps to enhance knowledge and keep up to date, reading journals on care, subscribing to magazines within your profession/ reports/ television/ listening to the news on incidents that have happened is another good source of information. E Learning is an easy way to learn online, attending staff meetings, listening to your peers, in house training courses, DVD presentations, local free training, such as CAB, local DAT, recognised bodies websites, CQC, GSCC, HCPC Working in partnership with other organisations. Sharing training opportunities. The local safeguarding board offer free training. It’s important to discuss with your manager, your needs and they will also be able to provide you with other sources of information that can build on your strengths and address weaknesses. Budgets and time retrains have to be considered when looking at desirable training for staff, but essential training needs to be continually kept up to date. As this is the back bone of our service and what we provide. Things such as health and safety, safeguarding moving and handling is all mandatory training that needs to be renewed and continually kept up to date. Failure to have this training and up to date and in place could lead the company open to litigation, and not being compliant with current standards We also need to be continually aware of any changes that have taken place in care standards and make sure we are up to date with these. These could be changes in government policy or new initiatives. We must prioritise what is essential and what is desirable, and balance against less important activities. When looking at desirable training we have to balance the needs of the service, and the needs of the service users. Will the team benefit from this training, can we just send one member of staff and they feed back the information to the rest of the team. We need to look at the staff members job description, what do they training they need in order to perform their job to the best of their abilities. We need to identify gaps in training where improvements can be made. Identify staff strengths so that their knowledge can be shared with others Other factors could be using other methods of training such as E Learning, books and policies that staff can read and update their own knowledge, look at what is in their job description, what they need to do and what training will help them achieve that.

Coca Cola Company s Annual Advertising Essay - 1545 Words

Financial Might Coca-Cola currently has roughly 4.32 billion shares of its stock outstanding, with a share price as of this writing around $41.53 per share. This would put Coca-Cola s market capitalization at roughly $178 billion. Taking cash and debt into consideration, Coca-Cola has a total value of almost $213 billion Advertising and marketing capabilities The Coca-Cola Company’s annual advertising spend was $3.98 billion in 2015, $3.51 billion in 2014 and $3.27 billion in 2013. Advertising expenses accounted for 6.9% of total revenues each year. In 2015, The Coca-Cola Company was the largest beverage industry advertiser in the world. Distribution Network Coca-Cola products are available via the world’s largest distribution network. The company capitalizes on a global network of owned or controlled distributors, independent bottlers, wholesalers, and retailers. This enables Coca-Cola to closely manage costs and rapidly introduce new items into the marketplace. These activities have facilitated market presence, high volume deliveries, and product saturation during in recent years. Weaknesses Weakness from Foreign Currency Fluctuation Coca-Cola operates using over 70 currencies, in addition to the U.S. dollar, and more than $26.2 billion of the company’s net operating revenues came from outside the United States. It transacts business activities in currencies which include the Euro, the Yen, and the Mexican peso just to name a few. Although the company does business inShow MoreRelatedCoca Cola And The Market Strategy Essay1178 Words   |  5 PagesCoca-Cola has also experienced some frustrations in the market. In 2013, the company introduced a new brand called Coca-Cola Life; unfortunately, it is not more than a niche for now because of its vague marketing segmentation. In 2014, the per-capita consumption of soda products declined by 25% compared to 1994. 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Coca-Cola was the invention of a pharmacist in 1866 in Atlanta, Georgia. Dr. John S. Pemberton created a syrup to be added to carbonated water and served at soda fountains. Dr. Pemberton did not live long enough to see his invention â€Å"become the worlds’s #1 selling sparkling beverage† (World). Pemberton was fortuitous in that he sold portions of his business before his death.