Summary Why this is important If you want to run a successful business you need to keep track of the money you use, save and spend. Setting financial targets and monitoring how well your business does against them will help you to this. Who might do this You might do this if you are: creating […]
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Summary Why this is important In order for your business to be successful you will need to establish that your business is financially sound. You must think about what you need to start up your business and what you need to keep it running well. Who might do this You might do this if you […]
Summary Why this is important There are environmental laws and regulations which all businesses must comply with, and those for specific industry sectors. Good environmental practices can be cost-effective when re-cycling methods are being used. Operating measures to protect the environment can enhance a business’s reputation and can also contribute to the profitability of your […]
Summary This unit has been imported from the National Occupational Standards for Health and Safety managed by ENTO (Unit G). Why this is important Fundamental to this Unit is an understanding of the process of carrying out a risk assessment. A person competent in this unit should be able to carry out risk assessments according to […]
Summary This unit has been imported from the National Occupational Standards for Health and Safety managed by ENTO (Unit C). Why this is important Fundamental to this Unit is an understanding of the process involved in creating clear workplace health and safety procedures for people to follow. The terms “hazard” and “risk” have been defined […]
Summary Why this is important It is important to make sure that your business, including your staff, customers and suppliers, is legally protected. You do this by ensuring that you are meeting statutory laws and regulations affecting your business. Who might do this You might do this if you need to: review the legal format […]
Summary Why this is important It is important to choose the most appropriate way of setting up your business in line with the law. If your business fails, then the format can affect your rights and responsibilities. There are a number of options available and you need to choose the legal format that best suits […]
Summary Why this is important Building relationships is crucial for finding out about business opportunities, gaining the resources you need, winning customers and getting help and advice.. Any successful business relationship has be based on trust and respect and be mutually beneficial to the individuals involved. This unit identifies the key things that are essential […]
Summary Why this is important To maintain levels of customer satisfaction and to remain competitive it is vital that every business looks for ways to improve. Small innovations in business process, customer service or product design can have large impacts on productivity or profitability. Innovations may come from anyone in your business, your staff, customers […]
Summary Why this is important Making deals is fundamental to all parts of any business. You will need to do this if you want to: expand your business or take your business in new directions ; work with new people, partners or organisations; get more business; or get the best deal from suppliers. Who might […]
Summary Why this is important Without customers you have no business. You will need to put as much effort into winning and keeping your customers as you do in providing products or services. Working closely with your customers, understanding their motivations and why they chose your business will help you to keep their custom and […]
Summary Why this is important To be successful, you need to have a firm view of where you want your business to go. A clear vision of the future helps you react effectively to changes inside and outside of your business and the challenges presented to you at any given time. Having a vision means […]
Summary Why this is important Having equipment, tools and materials at the right quality is essential for the performance of your business. Receiving a sub-standard batch of materials may make it impossible for you to fulfil an order and finding a cheaper or more efficient supplier may be critical in the longer term. This applies […]
Summary Why this is important Buying the equipment, tools and materials that you need at the right price, time and quality affects the profitability of your business. This section looks at your need for: equipment; utilities (such as gas, water and electricity); materials and other supplies; and technology. Some will be more important than others […]
Summary Why this is important When operating as a freelancer, you are your business and your skills are your service. Through successful engagements or contracts and applying your skills you will build your reputation. You need to be able to sell your skills to customers and promote your achievements, while negotiating favourable contracts. Planning is […]
Summary Why this is important The processes, procedures and systems of your business together make up your business infrastructure. The right infrastructure in your business will help you achieve your business goals and improve your competitiveness by: improving efficiency; allowing staff to work effectively; managing running costs; helping you offer a high quality integrated service; […]
Summary Why this is important Entering into a contract for new business premises will often be the largest commitment of cash a business will make. As well as being a significant financial commitment it means taking on the responsibility of a property that needs to be agreed under the right contractual terms, over an appropriate […]
Summary Why this is important When choosing premises for your business you need to think carefully about your own needs and that of your business. The type of premises you need depends on the type of business you have, and other issues such as, whether you need to be close to your customers or suppliers, […]
Summary Why this is important Choosing the right location for your business can be a complex task and may have a significant impact on the customers you attract and new and existing staff, as well as the suppliers you deal with. It can also be a big investment in time and money. You will need […]
Summary Why this is important Monitoring the social performance, or social return, of a social enterprise is key when making sure that the social enterprise is achieving what it was set up to achieve. It is also an important way of showing your stakeholders that you are achieving what they want you to achieve and […]
Summary Why this is important Your idea may be for a completely new product or invention, a change to an existing product or a new service. Whatever your creative idea is, you will need the help and support of others to realise it, either through giving their time to help you crystallise your thoughts, money […]
Summary Why this is important Buying an existing business may be a viable option for anyone who wants to run a business but doesn’t have their own business idea. It is advisable to carry out a considerable amount of research into the business you are looking to buy; to make sure you can make it […]
Summary Why this is important At some point you will leave your business and need to prepare to handover to someone else. Whether through retirement, sale of your business, passing it on to a family member, floating or merging your business it is important to plan your exit well in advance so you can move […]
Summary Why this is important Quality can give your business a competitive edge and can help you to keep and gain more customers. Quality can affect: the performance of your business overall; your marketing and sales activities; how you develop and produce or provide your products or services; how you keep business records; and how […]