Btec Business Level 3 Unit 1 P1
Describe the types of business, purpose and ownership of two contrasting businesses
The National Health Service (NHS) is an organisation in the Public sector, this means that it is provided and funded by the government through taxes, and it provides a service. It is health care system, provided to anyone regardless of age, race and income; free of charge to prevent diseases and illnesses. It was founded in 1948 with the aims to improve the quality and length of life of local people; to provide better services where they are needed most; and to help people to take more control of their health. Although one of its aims is to provide a service to the local people, the NHS is a national …show more content…
The company has limited liability which means that people won’t lose any more money than they put in. Currently the price of a Tesco share is 318.15p and has 30.2% of the market share in the UK. The key people who are in control of the company are the Chairman, Sir Richard Broadbent, and the Group Chief Executive, Philip Clarke.
Profit/Not for profit/Good cause
Tesco’s definite main aim is to make a profit. They do this by selling their products, such as their groceries and other merchandises that they get from elsewhere. Last year Tesco made a net income of nearly £4 billion. Tesco also make profit by providing other services like Tesco Mobile and Tesco Bank. Tesco also support good cause organisations and even have a charity, ‘Tesco Charity Trust’, but their main aim is to make a profit.
Tesco buys manufactured goods from other organisations and then sells them to the public, this puts the business in the tertiary sector; however, in some cases Tesco use their own farm to provide groceries for their stores, this is a secondary sector type of business but Tesco would still mainly be in the tertiary sector.
Tesco has 6,351 stores internationally, around 4,000 of them being in Europe. In 1992 Tesco operated for the first time outside of the UK by placing stores in Poland, since then it has opened many stores in Europe, Asia and America. Due to the amount