Chapter 4   making the start up effective
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Chapter 4 making the start up effective

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Chapter 4 making the start up effective Presentation Transcript

  • 1. Making the start up effective
    • Customer focus and the marketing mix
    • 2. the importance of limited liability
    • 3. start up and legal issues
    • 4. customer satisfaction
    • 5. recruiting, training and motivating staff
  • Customer Focus
    The customer is always the most important person
    Businesses need to indentify, anticipate and meet customer needs
  • 6. Price
    Businesses must charge a price that customers are willing to pay
    Products
    Businesses must sell products that customers want
    Marketing Mix
    Promotion
    Businesses must make their customers aware through promotion
    Advertising, direct mailing, sales promotion, packaging, public relations
    Place
    Businesses must make goods/ services at appropriate places
  • 7.
  • 8. Unlimited Liability
    Sole trader, partnership
    - Responsible for all debts- must pay off all these debts using their own money or take out a loan if they can’t - may have to sell their own house or car to pay off these debts
  • 9. Limited Liability
    Private limited company, public limited company
    The shareholders:- only responsible for the businesses debts up to the amount they have invested- do not personally have to pay off these debts using their only money- this means their own possessions are not at risk
  • 10. Business Names
    Can fall under 3 categories- related to a person name- related to the business- obscure
    Registering business names- not required if trading under own name- check that your name is not already in use
    Legal action could be faced for passing off a business name already in use
    Name must be displayed accurately on- business letters- orders for the supply of goods- invoices and receipts- demands for payments of debts
  • 11. Start-up Legal Issues
  • 12. Record keeping
    If you are a sole trader you are responsible for reporting all your income to HMR&C
    Records must be accurate
    Records that must be kept include- VAT- Corporation tax- Income tax- National Insurance
  • 13. Taxes
  • 14. Customer Satisfaction - Delivery
    Offering a delivery service is an example of providing what the customer wants
    To fulfil customer orders it is important to:- keep accurate records- deliver on agreed date- between the stated times- publish any costs involved
  • 15. The business benefits
    Providing customers with an effective on-time delivery service provides a number of benefits to a business- reputation for reliability- provide free and invaluable word-of-mouth promotion- customers may be willing to pay a bit more for reliability- loyal customers make it easier to plan and invest more confidently
  • 16. How do firms get workers?
  • 17.
  • 18. Advertising the job
  • 19. How to firms select?
    After short listing candidates there are a number of tools that can help:
    Interviews
    Aptitude tests
    Numeracy tests
    Visual tests
    Letter of application
    Curriculum vitae
  • 20. Training
    Once the recruit has been chosen they must be introduced to their new environment
    This is done through training- on the job training- off the job training
    Four reasons why training takes place- induction - upgrading skills- multi skilling- re-training
  • 21. Motivation
  • 22. Increasing motivation
    Job enlargement- gives workers more tasks of the same skill level- may require training and reward with higher pay
    Job enrichment- gives the worker more responsibility
    Good communication- so workers know what is going on
    Good working conditions- pleasant surroundings give the impression that the employer cares
    Job rotation- workers change jobs on a regular basis- relieves boredom
  • 23. Benefits of motivating staff
    Happy staff = happy workplace 
    Could even result in happy customers
    Motivated staff also share ideas which could improve the way the business is run
    Two indicators of motivated staff- Absenteeism- Labour turn over