The type of business, purpose and ownership of two contrasting business free essay sample

The type of business, purpose and ownership of two contrasting business In this task, I will be describing the type of business, purpose and ownership of Thorpe Park and Langley Park for girls. For each organisation, I will have to describe the range including local, national, international and global; public, private, not-for-profit and voluntary; primary, secondary and tertiary. Furthermore, I would describe the purpose which also includes product/service and the difference between profits or not for profit businesses. To finish off, I will describe the form of ownership which includes public/private/voluntary sector; type of ownership and main implications. Langley Range Langley school for girls is a local business organisations; it is a business that is public so that the whole community is able to access it. Langley Girls is a Public sector because it’s being controlled by the government; they are less likely to take risks, because they operate for the benefit of the wider public and not for profit and it’s paid for through taxes that we pay. LPGS is found in Tertiary Sector because it is part of the service industry that is open to all customers. It refers to the commercial services that support the production and distribution process, e. g. insurance, transport, advertising, warehousing and other services such as teaching and health care. And they normally offer their knowledge and time to improve productivity, performance, potential and sustainability. Purpose The Langley Park (For Girls) provides education, such as, English, maths, science and more for young students. LPGS business is different to a profit making business which in this case would be Thorpe Park, is the law that people age 4-18 should have free education, but for business that makes profits are not determined to do it by the law. This is non-tangible. Profit is a financial benefit that is realized when the amount of revenue gained from a business activity exceeds the expenses, costs and taxes needed to sustain the activity. Any profit that is gained goes to the businesss owners, who may or may not decide to spend it on the business. LPGS is intangible because they rarely have any relation to economic value, for example they don’t represent any measurable asset. Ownership Langley Park School for Girls is also a limited public company, however is Public sector organisations, which mean that their company are owned and controlled by the government (or local government), plus the government owned teachers’ salaries paid through taxes. The school is run by the head alongside the government, she can’t make decisions independently. They aim to provide public services, often free at the point of delivery e. g. the NHS. There are particular goods, called ‘merit goods’ and ‘public goods’ which cause problems for the private sector (like Thorpe Park), and so they are often better provided by the public sector. Government Service is a civil service that has two distinct meanings, a branch of governmental service in which individuals are employed on the basis of professional merit as proven by competitive examinations and the body of employees in any government agency other than the military. The limitations for Langley Park School for girl is that because they are owned by their local governor, when they want to make a change to the school or they want to organise something, they will need a permission from the government. Plus, they have to follow the nation curriculum and they’re given a tight budget to strive and meet the target the government are setting them, because the government can close down their school; it’s extra pressure for them. Thorpe Park Range Similarly, Thorpe Park is also a local business; however it’s been operated by an international business (The Merlin Entertainment) an international company operates in different country. On the contrary, Thorpe Park is not controlled by the government because it a private sector which means that it is a profit business; they are owned by a private citizen (The Merlin Entertainment Group). Moreover, Thorpe Park is also found in Tertiary Sector because it is part of the service industry that is open to all customers. It refers to the commercial services that support the production and distribution process, e. g. insurance, transport, advertising, warehousing and other services such as teaching and health care. And they normally offer their knowledge and time to improve productivity, performance, potential and sustainability. Purpose Thorpe Park’s provides people with a memorable life time experience. Thorpe Park Theme Park is a local attraction that is very popular. They provide thrill rides, family entertainment and shopping experiences e. g. key rings, masks, cups and more. They get people interested as possible and to make it so fun; the Thorpe Park Company has provided lots of other rides and activities to attract more visitors. In addition, the Thorpe park company is working with other businesses, such as, KFC and Pizza huts to gain more profit. Thorpe Park wishes to provide people with the best rides and attractions that are now increasing in many ways. To continue, Thorpe Park is a profit making business, profit is a financial benefit that is realized when the amount of revenue gained from a business activity exceeds the expenses, costs and taxes needed to sustain the activity. Any profit that is gained goes to the businesss owners, who may or may not decide to spend it on the business. Thorpe Park is tangible because they have their rights for their business and it has a physical existence to most communities in the UK. The product they make such as souvenirs are tangible, however, their right are non-tangible. Ownership Furthermore, Thorpe Park is in the private sector but however is a private limited company (Ltd); they have to register with Companies House and are issued with a Certificate of Incorporation and have limited liability. Two or more people are required to form such a company (such as Thorpe park) assuming it has a lawful purpose. To continue, a limited company grants limited liability to its owners and management. Thorpe Park does not rely on the government to improve their business but they will have to always have to be up to date with the legislations. The shareholders (also called members) own the company and the directors manage it, in this case for Thorpe Park, the Merlin Entertainment owns their business. Their directors are paid to run and manage their business. Shares cannot be bought and sold on the stock exchange in Thorpe Park. To conclude, Thorpe Park and Langley Park School for Girls are quite similar but what divides them is that one is owned by the government and the other is owned by a private citizen.