3.7 A Challenging External Environment Puts Pressure on UK Restaurants. Image copyright Getty Images The restaurant sector is hardly sizzling at the moment.
Last month burger chain Byron agreed a rescue plan with lenders and landlords which could lead to the closure of up to 20 restaurants. Also in January, Jamie's Italian announced that it was to close six of its 42 restaurants. And since the beginning of 2015, shares in the Restaurant Group, which owns Frankie and Bennys and Garfunkels, have tumbled 65%. So what's causing the gloom? Serial entrepreneur Luke Johnson, who helped expand Pizza Express in the 1990s, says the whole of the food sector in the UK is under pressure at the moment. Businesses in the sector are having to pay the new living wage, the apprenticeship levy, and deal with "upwards-only rent reviews," he says. Mr Johnson, who among his many business interests is the chairman of casual-dining chain 3Sixty Restaurants, adds that "food and ingredients costs are affecting the whole eating-out market".
Social scene Brexit blues Taking out. 3 7 Economics Revision UK Macro up to 2013. 3.7.1 SWOTting Staycations. 3 7 1 Understanding Mission Aims & Objectives. 3.7.1 Bowman's Strategy Clock - Strategy Skills Training. Making Sense of Eight Competitive Positions © iStockphoto/Zeffss1 In many open markets, most goods and services can be purchased from any number of companies, and customers have a tremendous amount of choice.
It's the job of companies in the market to find their competitive edge and meet customers' needs better than the next company. So, how, given the high degree of competitiveness among companies in a marketplace, does one company gain competitive advantage over the others? And when there are only a finite number of unique products and services out there, how do different organizations sell basically the same things at different prices and with different degrees of success? 3.7.1 Elon Musk: Man on a Mission - Mission Statement. 3.7.2 - Gearing Up for Growth - Microsoft Sources Huge Debt Finance. 3.7.2 - Market in Focus - UK Bicycle Market - Ratio Analysis. 3.7.2 Gearing - Why Big Companies Like Debt as a Source of Finance. 3 7 2 Understanding Income Statements. 3.7.2 What's the world's most profitable product? 3.7.3 - Balanced Scorecards explanation, examples, aims, implementation and teaching aid diagram for the concept.
Kaplan and norton's organizational performance management tool In the beginning was darkness.
We went to work, did our job (well or otherwise) and went home - day in and day out. We did not have to worry about targets, annual assessments, metric-driven incentives, etc. 3.7.3 - The Triple Bottom Line: What Is It and How Does It Work? Timothy F.
Slaper, Ph.D. Director of Economic Analysis, Indiana Business Research Center, Indiana University Kelley School of Business. 3.7.3 The Triple Bottom Line - Strategy Skills Training. Measuring Your Organization's Wider Impact © iStockphoto Imagine going to work everyday for a company that you are truly excited about, and proud to be a part of.
Sure, the pay is decent and there's a company crèche, but those aren't the only reasons why you love working there. You're proud to be a part of this company because they're honorable. They stand out from the typical "cut-throat" business world by the way they treat suppliers, their commitment to environmental sustainability, and their desire to empower and promote their team members instead of dragging them down. Sounds pretty amazing, right? What is the Triple Bottom Line? The triple bottom line was first fully explained by John Elkington in his 1997 book "Cannibals With Forks: The Triple Bottom Line of 21st Century Business". 3.7.3 - Core Competencies Explained. Core Competencies Explained When starting a job search you should be aware of core competencies and how employers use them to determine your suitability for a particular role.
In essence, core competencies are a group of skills or attributes that employees need to carry out their work effectively. Competencies can vary between different industries and levels of seniority, though the majority are found across many industries. They are often sprinkled throughout job descriptions and person specifications. As part of your application you will need to demonstrate how you meet each of the core competencies identified by the employer. 3.7.4 Is free trade good or bad? Image copyright Reuters Free trade is something of a sacred cow in the economics profession.
Moving towards it, rather slowly, has also been one of the dominant features of the post-World War Two global economy. 3.7.4 The sugar tax and minimum pricing for alcohol: how… 3.7.4 - The political and legal environment Article. 3.7.4 Why are Trump opponents deleting their Uber accounts? Political Changes. Image copyright Twitter/@KeeganNYC Protests over Donald Trump's executive order banning nationals of seven countries from the US have engulfed one of Silicon Valley's biggest companies - even though Uber's chief executive has come out against the ban.
As anti-Trump activists gathered at US airports to voice their opposition to travel restrictions, a union representing New York City taxi drivers decided to weigh in. The New York Taxi Workers Alliance (NYTWA) called for an hour-long halt on pickups from John F Kennedy International Airport, the city's busiest. Image copyright Twitter/@NYTWA Demands for Uber rides from the airport increased and the company's surge pricing - where fares increase automatically according to demand - kicked in, until Uber announced on Twitter that it would suspend the surge. The move was interpreted by some Trump opponents as an attempt to break the hour-long strike, and soon the hashtag #DeleteUber was trending on Twitter. Image copyright Twitter/@bro_pair.
3.7.4 Airbnb to lose £325m in London bookings after holiday rental rules tighten. 1/29 Mayor Sadiq Khan axes new Routemaster bus from the streets of London - Friday January 6 London Mayor Sadiq Khan has ended any hopes to purchase new Routemasters bus for the capital's streets as he tries to balance the books on London's transport budget.
Once called 'Boris buses' named after his the previous mayor, every bus would cost around £350,000 each, or around £50,000 more than an ordinary bus. But the new mayor has promised to freeze purchases of the vehicles, which were criticised for being expensive and sauna-like conditions. Getty Images 2/29 FTSE closes 2015 at record high - Friday December 31 Britain’s blue chip FTSE 100 set a new record on the last day of trading of 2016 after climbing to record closing highs for two consecutive days. The blue-chip index gained 22 points or 0.3 per cent, to finish at 7142 points on Friday, its third closing high in as many days and a new intraday high. 3.7.5 Ikea raises UK prices after imports hike following Brexit referendum.
Ikea has increased prices on some of its products in the UK as a result of higher import costs after the slump in sterling following the Brexit vote.
The Swedish firm hiked prices by 3.6% in some areas to counter a 13.7% jump in the cost of imports. Ikea revealed its boosted prices after it gave an update on its UK performance, with total sales rising 6% to £1.8bn in 2017. The flat-pack furniture retailer said it increased its share of the market by 0.5%, bringing it closer to a projected target of 15% market share by 2027. Retail manager for Ikea UK and Ireland Gillian Drakeford said: "Despite a level of economic uncertainty, our brand is even more relevant and we continue our efforts to bring affordable, well-designed home furnishing solutions to the UK.
"The Brexit vote has been on everyone's lips and the devaluation of the pound has been a challenge for many businesses. 3.7.5 Brexit plunges UK economy to worst level since 2009. Image copyright Getty Images Britain's decision to leave the EU has led to a "dramatic deterioration" in economic activity, not seen since the aftermath of the financial crisis. Data from IHS Markit's Purchasing Manager's Index, or PMI, shows a fall to 47.7 in July, the lowest level since April in 2009. 3.7.5. Exchange Rates and Inflation: The Impact of Brexit on Business Costs. This article from the Guardian is packed with A Level Business concepts - how many can you spot? The business impacts of Brexit (positive and negative) will take time to become apparent.
However, the most significant short-term impact has been via a sharp fall in the value of the Pound exchange rate against major currencies such as the Euro and Dollar. A weaker pound, if sustained, is likely to result in: Imports becoming more expensive;Exports becoming cheaper in international markets (i.e. more price competitive) So whilst UK manufacturers and other businesses trying to sell overseas should benefit from a lower exchange rate, those relying on imported goods and services (or which use inputs priced in overseas currencies) are starting to suffer from rising costs. Imagine a UK-based manufacturer who buys a key raw ingredient which is priced in US Dollars (as most commodities are). $10,000 of those raw materials when the exchange rate is £1 = $1.50 costs the manufacturer £6,667.
3.7.5. Fiscal Policy - Study Notes. 3.7.5 - How inflation is hitting Britain's bakers. 3.7.5 (4) What is globalisation? 3.7.5 Saving Globalization and Technology from Themselves. Our societies need the voices and efforts of corporate leaders in order to tackle the inequality and social dislocation caused by technology and globalization. An incremental extension of corporate social responsibility activities will not be sufficient. The growing divide between winners and losers has become a specter that haunts both business and society—and it is time to confront it. Business leaders need to balance two apparently conflicting objectives. First, they need to secure the sustainability and prosperity of their own companies. This remains a CEO’s prime responsibility, and it has become much harder in an era defined by lower growth, impatient investors, geopolitical uncertainty, and extremely rapid technological change.
To achieve those ends, we propose that business leaders embrace a new agenda comprising seven areas of opportunity. 3.7.6 Shampoo bottle made from ocean plastics hailed as ‘technological breakthrough’ Beaches strewn with plastic waste have become a graphic illustration of just how much plastic we use in everything from food packaging to cosmetics, and how much of it gets thrown away.
Consumer goods giant P&G has become the latest company to attempt to show it is tackling the problem, announcing plans for a limited run of Head & Shoulders shampoo in bottles made partly from plastic waste collected by volunteers on France’s beaches. It follows the likes of Adidas, which put 7,000 pairs of trainers made from marine plastics on sale in November, and Pharrell Williams, whose clothing line for G-Star RAW has featured denim containing plastic from the oceans. Ecover, which sells cleaning products, has produced several limited edition bottles, using marine plastics from the North Sea and waste collected from Amsterdam’s canals. P&G expects to manufacture up to 170,000 of their special edition bottle, produced in collaboration with recycling business TerraCycle and waste management firm Suez. 3.7.6 - Pret doubles the discount for using reusable cups - CSR? 3.7.6 Warren Evans buyers sleep uneasily as bed firm folds. Customers who recently ordered from bedmaker Warren Evans, which went into administration last week, look to have lost their cash after staff confirmed that no more deliveries will take place.
The firm, a long-time favourite with Guardian and Observer readers because of its ethical stance, called in administrators on 6 February after failing to find a new investor. The collapse leaves a trail of customers who now face applying to their credit card provider for a refund (see box). If they paid by cheque or cash, they appear to have lost their money. The collapse is also a blow to previous customers who have received their items, but have experienced problems with them. The administrators have confirmed there will be no help for them. 3.7.6 - Carroll's CSR Pyramid - study notes. 3.7.6 CSR & Ethics: Apple and the EU Battle Over Tax Avoidance.
3.7.6 Under pressure: campaigns that persuaded companies to change the world. 3.7.6 Do Socially-Responsible Businesses Perform Better? 3.7.5 Trucker body to seek cartel compensation - CSR. 3.7.6 - Technological Change in the Automotive Sector: Software Rules - Not Hardware. A fascinating short video here from the FT Business and Automotive team which considers how modern cars have become highly sophisticated pieces of technology - and how further technological change may transform the modern motor.
The increasing complexity and technological sophistication of cars is posing some interesting strategic challenges for car makers who face competition from more than just the automotive manufacturers. The modern car is no longer mechanical; it is electronic. Up to a quarter of the cost of building a vehicle is related to software not hardware. Andy Sharman from the FT points out that today's premium cars already contain: A mile of cables100 million lines of codeUp to 70 computer control unitsThe computing power of around 20 advanced PCs So where next for car manufacturers?
Sharman points out a key threat to the leading existing car makers. 3.7.6 Carroll's Social Responsibility Pyramid. 3.7.6 Structural slump in retail. 3 7 6 Social Environment changes, benefits and consumption examples. 3.7.6 (1) UK is the ‘most internet-based major economy’ The internet contributes to 8.3% of the UK economy, a bigger share than for any of the other G20 major countries, a new study suggests. The "internet economy" was worth £121bn in 2010, more than £2,000 per person, researchers at the Boston Consulting Group (BCG) said.
That made it bigger than the healthcare, construction or education sectors. The UK also carries out far more retail online than any other major economy. Some 13.5% of all purchases were done over the internet in 2010, according to BCG, and this is projected to rise to 23% by 2016. 3.7.6 (1) Demographic trends in the UK and the implications for investment. 3.7.7 - Amazon and the Threats of New Entrants. 3.7.8 - Investment Appraisal - Sensitivity Analysis.