Task 1 – Business Purpose and Operations
My first business I am looking at is H&M. H&M are a fashion retail brand well known for having stores in 9 counties and having over 3200 stores in total. Their target market is teenagers and young adults but they do have stores called ‘H&M Kids’ which will appeal to that target market. H&M are in the tertiary sector as they selling fashion and accessories. This means they are providing a service. They are an international business as they have stores in 9 countries meaning they are trying to spread and become better known around the world. They have stores in Middle East and North Africa, Europe, Asia Pacific and North & South America. H&M are a public limited company as they have their shares bought and sold on the stock exchange. With every 1% share you get 1.85% votes. H&M’s aim is ‘To always exceed our customer’s expectation on quality’. This is with both price and product. This means H&M’s purpose is to bring high quality ...view middle of the document...
They offer a variety of vocational courses to the public. BCOT are in the top 50 performing colleges and are in the top 20% of further education college’s success rates. As well as being for school leavers, people at any age can apply to the courses as well as adult learner courses. BCOT are in the tertiary sector as they are offering a service which is education to the public. BCOT are a local organisation as they are located in one area in Hampshire which people can travel to and from. BCOT are a non profit as a private limited company as they offer limited liability to their shareholders. BCOT has a vision which is ‘To inspire every learner to succeed and excel’. Their mission is ‘To provide high quality education and training that transforms lives ‘. This means that Basingstoke College of Technology’s purpose it to provide good high quality education to others which will help them later in life succeed. BCOT are a non-profit organisation as they are there to provide education to others rather than to make a profit.
H&M are expanding more in America which means they will be spending more to develop the stores as well as employing the employees for the stores. It also takes up there time to launch a recruiting campaign as well as the research for everything to do with the 61 new stores. In America employees don’t get as much paid vacation than European Countries do. European Countries get at least 20 days paid vacation. This saves H&M money as they won’t have to pay their staff as much vacation time as they would in other countries. They can use this money in another way to help the company.
H&M have also set up there own cosmetics line which is due to be released in Autumn 2015 . Creating a new range costs a lot of money for H&M and with them being a internatinal global coompny for them to destribute there stock around the world they have to ensure that it is a good move for the business . They will need to research about cosmetics as well as competitors and see if they cn afford to make the move and take the risk of the new line financially.