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Principles of Business Report - Apple

   

Added on  2020-06-05

10 Pages3315 Words49 Views
Principles of Business

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Characteristics of different business market.........................................................................11.2 Nature of interaction between businesses within a market...................................................21.3 Organisation's goals may be shaped by market in which it operates....................................21.4 legal obligations of business.................................................................................................2TASK 2............................................................................................................................................32.1 Define business innovation...................................................................................................32.2 Uses of model of business innovation...................................................................................32.3 Source of support and guidance for business innovation......................................................32.4 Process of product or service development...........................................................................32.5 Benefits, risks and implications associated with innovation.................................................3TASK 3............................................................................................................................................43.1 Importance of financial viability for organisation................................................................43.2 Consequences of poor financial management.......................................................................43.3 Different financial terminology.............................................................................................4TASK 4............................................................................................................................................54.1 Uses of budget.......................................................................................................................54.2 Manage budget......................................................................................................................5TASK 5............................................................................................................................................65.1 Principles of marketing.........................................................................................................65.2 Sales process.........................................................................................................................65.3 Features and uses of market research....................................................................................65.4 Value of brand to an organisation.........................................................................................65.5 Relationship between sales and marketing...........................................................................7CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8

INTRODUCTIONEach and evert kind of company needs to follow norms, rules and values; therefore, theywill accomplish their business in an appropriate manner. Principles are more basic than policyand objectives, and are meant to govern both (Nicholas and Steyn, 2017). Present assignment isbased on Apple corporation which is set up in UK. They are operating their business across theworld. This assignment is going to discuss about some characteristics which are associated withvarious business market. It is must for a firm to utilize inventive technique into their business asthis will assist them into their growth and development. To comprehend financial management,there is a description of distinctive financial terminology. Apart from this, manager needs toprepare budget and manage it in an adequate manner. By conducting market research employerwill accomplish needs and wants to clients as per their requirements on time. TASK 11.1 Characteristics of different business marketThe world of business is an extremely large place and there are plenty of ways to run asuccess company and make a profit if you understand market. They’re many different types ofcustomer you can sell your products too but main business markets can be broken down intothese 5 categories:Business to business marketIndustrial marketProfessional services and Financial servicesGovernmentHigh StreetBusiness to business market is when one business simply sells it’s products to anothermeanwhile industrial market consists of companies transacting business in hard goods such asmachinery, materials, vehicles and supplies (Rauter, Jonker and Baumgartner, 2017).Professional services include delivery of business needs such as marketing, informationtechnology, management consulting and payroll whereas financial services include banking,insurance, commercial credit and lending and even sometimes tax planning.Final two business markets I’d like to point out are government and high street. Selling togovernment can take a bit of hard work as often there business contracts usually require1

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