Exchange rates and weaker currency

Sometimes varying exchange rates mean that one currency is weaker than the other.

For example If the exchange rate was £1-$1.25 it would mean that you would get more dollars for your pound, meaning the dollar is weaker. It’s weaker because if you were doing it the other way around, $-£ then you would get less pounds, costing you more money.

Motivation and Maslow

How would Maslow’s theory answer the following:

A – Why in times of high unemployment are people more likely to take the first job they can get rather than looking around? By taking that job they are guaranteed that job, rather than looking around and losing that opportunity
B – Why do some top company directors, who are already wealthy, need such high pay rises in order to keep them in the company? Their skills are valuable so they may be offered positions with another company which would pay them more. By raising their pay, it would persuade them to stay with the company
C – Beyonce and Jay-Z are worth millions and run their own record companies. 100,000 people watched Beyonce’s concert at Glastonbury last Summer. Why do they continue to produce and perform music instead of relaxing by the pool at one of their luxury homes? They enjoy what they do, the money is just a bonus.
D – What motivates some Nurses, Doctors or Teachers to give up their reasonably well paid jobs in this country in order to work in a Hospital or School in a third world country? It would make them feel good for helping others and boost their self esteem.
E – Why do some companies provide sports and social clubs and organise nights out for their employees? To reward them for their hard work and allow them to socialize.

TOA Y9/10 GCSE Business

Maslow Hierarchy of Needs

In 1954, an American Psychologist by the name of Abraham Maslow put forward his theory of what motivates human beings. His ideas did not solely apply to the workplace but nevertheless had an important message for Business.

Questions (From Lewis & Trevitt, & Chambers, Hall and Squires)

How would Maslow’s theory answer the following:

A – Why in times of high unemployment are people more likely to take the first job they can get rather than looking around?
B – Why do some top company directors, who are already wealthy, need such high pay rises in order to keep them in the company?
C – Beyonce and Jay-Z are worth millions and run their own record companies. 100,000 people watched Beyonce’s concert at Glastonbury last Summer. Why do they continue to produce and perform music instead of relaxing by the pool at one of their luxury…

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Recruitment and Selection Notes.

doodlesbaker

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  • Job Advert

A recruitment for new employees, usually when the previous employee has stopped working.

  • CV

Curriculum Vitae) shows the job applicants qualifications and achievements. 

  • Application Form

A series of questions on paper that the job applicant is required to fill out when applying for a job.

  • Job Description

 A description of the role an employee plays in a business/company.

  • Person Specification

A profile of the candidate applying for a job.

  • Shortlisting

A list of preferable applicants that have been selected for final consideration.

  • Interview

A meeting of people face to face, especially for consultation.

  • References

A number or address of someone known to have experience with a specific person.

 

All of these aspects need to be considered when applying to a job or making a CV.

View original post

Recruitment and selection

Job Advert: Is an advertisement for a job, including information about the job and skills required.

CV: Is a document telling potential employers about yourself, your education and various skills.

Application form: Is a form that allows you to apply for something such as a job, college place, competition or something else where personal information is needed.

Job description: Is a description of a job, such as the skills needed, hours to work, hourly pay etc…

Person specification: Is when there is a specific type of person required for a job, for example specific skills etc…

Shortlisting: Is a short list of available candidates that fit the criteria needed for something specific.

Interview: And Interview is a process in which someone is casually assessed on their ability to do something they have applied for.

References: A reference is something someone had said, usually positive, to display how good you are at something.

Repeat Purchase

I repeat purchase Superdrug own brand hair dye (midnight blue)

I repeat purchase this particular hair dye as it is great quality and great quality, also, it is easily accessible. 

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I repeat purchase ‘Shakespeares’ Milkshake.

I repeat purchase this particular milkshake because it’s delicious and you get what you pay for. The service in ‘Shakespeares’ is great, your milkshake is made straight away and in full view.

 

Sole Trader

Sole trader: A sole trader describes any business that is owned and controlled by one person.

Partnership: Partnerships are businesses owned by two or more people.

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Advantages of being a sole trader: 

  • It is easy to set up as no formal legal paperwork is required.

  • Generally, only a small amount of capital needs to be invested, which reduces the initial start-up cost.

  • As the only owner, the entrepreneur can make decisions without consulting anyone else.

 

Disadvantages of being a sole trader:

  • The sole trader has no one to share the responsibility of running the business with. A good hairdresser, for example, may not be very good at handling the accounts.

  • Sole traders often work long hours. They may find it difficult to take holidays or time off if they are ill.

  • They face unlimited liability if the business fails

 

Unlimited liability: The owners of a business are personally liable for any debts the business may have.

Limited liability: The liability of the owners of the business, the shareholders, to pay off its debts is limited amount of money they have invested into the business when buying shares.

  • Features of unlimited liability: No difference between their own finance and the business’ 
  • Do not have to share ownership
  • All profits go to the sole trader.

 

I would rather choose to have a partner in business. This is because being a sole trader means there is no difference between your own finances and the business’, this would be terrible if the business failed. Also, you wouldn’t have free time you’d always be working