Assignment 1 : p1, p2. "the business"
McDonalds
Introduction
McDonald’s is a fast food franchise that opened in 1940. The first restaurant opened in California but now McDonalds is a world wide company. The aims of McDonalds for customers to receive good value for money as well as getting a fast, friendly service.
Type of Business (Primary, Secondary, Tertiary)
McDonald’s is a primary, secondary and tertiary sector. The primary sector is responsible for the raw materials such as farming animal. The secondary sector is the manufacturing process which it converts raw materials into products such as the packaging. The final production is the tertiary sector, this is the service that McDonald’s provides such as advertising or selling food to the consumers.
The Purpose of the Business
McDonald's main focus is their tertiary sector, this is because it is where they provide goods to the costumers. They provide fast-food such as burgers, fries and drinks. These items are found in their fast-food restaurant's world wide.
Ownership
McDonald's is a large franchise, it is a public limited company, this is because the shares are open to the public and if the company were to owe any debt, it can only take money from what the business has.
McDonald’s is a fast food franchise that opened in 1940. The first restaurant opened in California but now McDonalds is a world wide company. The aims of McDonalds for customers to receive good value for money as well as getting a fast, friendly service.
Type of Business (Primary, Secondary, Tertiary)
McDonald’s is a primary, secondary and tertiary sector. The primary sector is responsible for the raw materials such as farming animal. The secondary sector is the manufacturing process which it converts raw materials into products such as the packaging. The final production is the tertiary sector, this is the service that McDonald’s provides such as advertising or selling food to the consumers.
The Purpose of the Business
McDonald's main focus is their tertiary sector, this is because it is where they provide goods to the costumers. They provide fast-food such as burgers, fries and drinks. These items are found in their fast-food restaurant's world wide.
Ownership
McDonald's is a large franchise, it is a public limited company, this is because the shares are open to the public and if the company were to owe any debt, it can only take money from what the business has.
Hong kong dog rescue
Introduction
Hong Kong Dog Rescue was founded in 2003 for the purpose of saving puppies and dogs all over Hong Kong where they had been abandoned. HKDR takes dogs from only have 4 days to live and takes them away for rehoming.
Type of Business (Primary, Secondary, Tertiary)
Hong Kong Dog Rescue is a tertiary sector, since they are providing a service to the consumers. They do not make their own merchandise. The service they provide is the ability to adopt dogs or puppies or holding events to raise money for the charity.
The Purpose of the Business
The purpose of the business to raise awareness and money for the dogs as well as giving them another chance to find a good home.
Ownership
Hong Kong Dog Rescue is a sole trader, since there is only one owner for the business. This is a small business which means it has unlimited liability. Unlimited liability is if the business owed any debts, money can be taken from the business owner personally.
Hong Kong Dog Rescue was founded in 2003 for the purpose of saving puppies and dogs all over Hong Kong where they had been abandoned. HKDR takes dogs from only have 4 days to live and takes them away for rehoming.
Type of Business (Primary, Secondary, Tertiary)
Hong Kong Dog Rescue is a tertiary sector, since they are providing a service to the consumers. They do not make their own merchandise. The service they provide is the ability to adopt dogs or puppies or holding events to raise money for the charity.
The Purpose of the Business
The purpose of the business to raise awareness and money for the dogs as well as giving them another chance to find a good home.
Ownership
Hong Kong Dog Rescue is a sole trader, since there is only one owner for the business. This is a small business which means it has unlimited liability. Unlimited liability is if the business owed any debts, money can be taken from the business owner personally.
The Relationship
A sole trader is someone who is the only owner of a business, a partnership is when only two people own the business. These businesses are small in size and have a small scale. Both of these businesses have unlimited liability, which means if the company owes any debts they can take money personally from the owners. Private limited company is when permission needs to be given by the owners to buy a share. These businesses are smaller than public limited companies. Public limited companies have shares open to the public and no permission from the owners are needed. Private limited companies and public limited companies are large in size and scale and have limited liability. Limited liability is if a company owes any debt, they can only take money from what the business has.
A sole trader is someone who is the only owner of a business, a partnership is when only two people own the business. These businesses are small in size and have a small scale. Both of these businesses have unlimited liability, which means if the company owes any debts they can take money personally from the owners. Private limited company is when permission needs to be given by the owners to buy a share. These businesses are smaller than public limited companies. Public limited companies have shares open to the public and no permission from the owners are needed. Private limited companies and public limited companies are large in size and scale and have limited liability. Limited liability is if a company owes any debt, they can only take money from what the business has.