Videos uploaded by user “Gary Wainwright”
Intellectual property Understanding Patent, copyright and trademark
If an idea stays in your head, it is just an idea. If you convert an idea into a song, a product, a design or a book then it becomes intellectual property. Now the idea has value and may need protecting. Protection can come in the form of a patent, copyright or trade mark. This protection is an incentive to firms to go on and produce the product. Patents protect the working parts of a product, what they do, how they do it, what they are made of and how they are made. A patent gives inventors control over their invention for twenty years. This can stop other would be manufacturers from making a similar product using their ideas. A patent gives firms a competitive advantage, they can establish their product in the market without any competition and charge higher prices which helps to recover their research costs. They could also sell the rights to the invention, or licence the invention to another manufacturer. Copyright laws protect the image of the product. The reason a business would want to protect images of their product is to ensure they are only used in situations that benefit the product and brand. Finally the name and company logo are protected by trademark. This is done by registering the product name or symbol with the intellectual property office. Business names and logos are valuable trademarks because they are a sign which distinguishes a firms products from its competitors.
Views: 6184 Gary Wainwright
Choosing a location
Location In the town centre Large number of potential customers walking past the shop. This would be important for a business that relied mainly on impulse sales, if the business however relied on customers that made a planned purchase such as a shoe repair shop then it could locate into a secondary site as customers would plan to go to the shop. From the large foot traffic in a town centre may come new customers buying on impulse. A business out of town would have to rely on other methods of promotion to attract customers to try their products. Being in the centre of town suggests the business should be taken seriously. All bus routes terminate in town. This might not be relevant if your customers predominantly travelled by car, supermarkets provide large car parks because they know most customers like to do a large weekly shop and put it straight in the car, they are unlikely to carry home so much shopping on a bus. Car parking is available in town. The thing to consider is if it is free or if there is a charge. Competition is in town so customers can compare products and service. Customers enjoy being able to compare different product offerings, the business locating next to lots of competition must be confident it is competitive. Out of the town centre Less competition out of town. The business must consider if the reason for the lack of competition is due to the fact that there are no customers. People live in the local area. Car parking is free out of town. But do your customers travel by car.
Views: 12345 Gary Wainwright
Building good relationships with suppliers
Revision video for Business students. In today's competitive business environment it is essential that good relationships exist between firms and suppliers. Raw materials or component parts may be supplied and turned into finished products by the business. Firms also need consumeables such things as stationery supplies or computer software in order to run their businesses on a day to day basis. During busy periods firms might call on recruitment agencies to supply temporary staff, here the supply of reliable people is important. To get all of these features from suppliers it is important for a business to have good relationships with It's suppliers. Factors that can build a good relationship are paying suppliers on time, a business that takes extra time after the agreed trading terms is likely to spoil the relationship between supplier and themselves. Giving the supplier large orders with sufficient lead time to deliver is likely to build the relationship, asking for panic deliveries is likely to spoil the relationship. Inviting staff from the supplier into the business to meet their counterparts will build the relationship. It is good for office staff to know who they are talking to on the other end of the phone. All of the above would help to build the relationship with suppliers. However in today's environment many businesses decide to take out a Service level agreement. This sets out the terms and level of service the business expects from its suppliers and should include built in penalty clauses if they fail to deliver. The factors that would influence a business when deciding on their suppliers are: Price -- This does not mean that the supplier offering the lowest price is going to be the obvious choice. The quality of the product and reliability of the supplier will be factors that influence the price. Payment terms --A business that has difficulties with cash flow might choose a supplier that offers an extended repayment period. Discounts --some suppliers may give discounts for bulk orders, if the business is likely to order in large quantities then this would be a reason to choose them as suppliers. Quality --A supplier that has a reputation for delivering quality raw materials might be chosen because this may reduce wastage in the businesses production process. A quality supplier can be identified because they have been accredited with ISO9001 certification. Capacity --Some large businesses would choose suppliers that have sufficient capacity to meet their needs. For example Tesco is only likely to deal with suppliers that can supply a standard product to all of its stores. Reliability --This is particularly important if a business is running a Just In Time operation, however all customers need goods delivered on time.
Views: 1853 Gary Wainwright
Capacity utilisation
http://my.brainshark.com/Capacity-utilisation-171541434 -
Views: 1183 Gary Wainwright
Sources of business ideas
http://my.brainshark.com/Sources-of-business-ideas-239156673 -
Views: 1379 Gary Wainwright
Enterprise and Entrepreneurs
http://my.brainshark.com/Enterprise-and-Entrepreneurs-224400130 -
Views: 658 Gary Wainwright
Methods of lean production
http://my.brainshark.com/Methods-of-lean-production-417765971 -
Views: 383 Gary Wainwright
Dealing with Non Standard Orders
http://my.brainshark.com/Dealing-with-Non-Standard-Orders-715321188 -
Views: 72 Gary Wainwright
Matching production and demand
http://my.brainshark.com/Matching-production-and-demand-765296439 -
Views: 64 Gary Wainwright
unit costs
http://my.brainshark.com/unit-costs-163018662 - Operations management
Views: 48 Gary Wainwright
As Business definitions unit one
http://my.brainshark.com/As-Business-definitions-unit-one-307411867 -
Views: 29 Gary Wainwright
Business plan jingle
http://my.brainshark.com/Business-plan-jingle-229796918 -
Views: 315 Gary Wainwright
http://my.brainshark.com/Quality-284776043 -
Views: 61 Gary Wainwright
Risk and reward
http://my.brainshark.com/Risk-and-reward-231502118 -
Views: 9 Gary Wainwright
1 Economics definitions wk1
http://my.brainshark.com/1-Economics-definitions-wk1-646641485 -
Views: 10 Gary Wainwright
http://my.brainshark.com/Franchising-381713462 -
Views: 12 Gary Wainwright
talking frog
Views: 50 Gary Wainwright
1 Economics definitions wk1
http://my.brainshark.com/1-Economics-definitions-wk1-646641485 -
Views: 4 Gary Wainwright
As Business Unit 1
Views: 17 Gary Wainwright
Opportunity cost
http://my.brainshark.com/Opportunity-cost-690508665 -
Views: 10 Gary Wainwright
Welcome back
Views: 13 Gary Wainwright

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