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Pre-release - Coggle Diagram
Pre-release
The Use of Short-Term Finance
Credit Card
Using business credit cards to finance short-term purchases or expenses.
Overdraft
A facility provided by banks that allows businesses to withdraw more money than they have available in their account.
Hire Purchase
Purchasing assets through instalments while having immediate access to the item.
Trade Credit
A short-term agreement where suppliers allow a business to purchase goods or services on credit, with payments due at a later date.
Leasing
Renting equipment or assets for a specific period, with payments made regularly.
Graces Bakery - cakes, 1997, baking, whisk, mixers, ingredients (eggs, flour etc).
How Businesses Comply with the Consumer Rights Act
Curry's
They have a clear system to ensure they meet the Consumer Rights Act requirements. They offer repair, replacement, or refund options, for faulty products within the 30 day period of purchase. With extended periods given for major purchases (such as TVs).
Context Words
Electronics, TVs, phones, laptops, technology, no 1 UK tech recycler, currys care and repair, badges that state expertise, shop live (video call with an employee)
The Consumer Rights Act (2015) is a piece of UK legislation that helps regulate business behaviour and prevents consumers from being exploited.
Meeting Objectives of External Stakeholders
Amazon
Customers
Meets customer expectations through high quality, service and ethical practices.
If Amazon choose to not meet the needs of customers they are likely to obtain a bad reputation due to their unhappy customers which could lose them sales.
Suppliers
Amazon seek to enable long-term relationships with suppliers and are committed to constantly improve conditions for suppliers.
If Amazon were to ignore the needs of suppliers, the suppliers may choose to not meet the agreed-upon standards, which will lead to poor quality services or delays in services.
Pressure Groups
'Make Amazon Pay' attempt to stop Amazon from squeezing workers, communities and the planet. The also appose Amazon's green washing as they drastically under count carbon emissions and promote 'climate pledge' while supporting oil and gas exchange.
If Amazon aren't to change, potential consequences could be extreme protests or lobbying (attempting to persuade someone in parliament).
Shareholders
Amazon meet regularly with shareholders, both large and small, to discuss their business strategy, performance, compensation, philosophy, corporate governance as well as environmental and social topics.
If a shareholder did not agree with the path of which the business is taking it could cause disruption to the business. As well as that not having a shareholder agreement could lead to uncertainties and disruption, potentially leading to conflict.
Context Words
Online market place, ordering products from various sellers, amazon prime, free delivery.
SWOT Analysis in Action
Amazon
Opporunities
Looking to get into Crypto, linking with other retailers, expanding physical stores, increase bricks and mortar presence, business acquisition, expansion into developing markets.
Weaknesses
Rely heavily on third party sellers (price undercutting and market disruption), data security concerns, limited customer loyalty due to large scale of business, limited physical presence, employee treatment/conditions, low margin on various categories.
Threats
Intense competition due to them being in a few different markets, cyber security threats, economic recessions, political and legal interference, imitation of business model.
Strengths
Strong brand name, diverse product offering, quick delivery, reliable services, customer orientated, intuitive, 232 billion annual revenue, industry leading distribution networks, market leaders in various categories.