The Nature of Business - 1258 Words

The Nature of Business – IMAX This business report will analyse and explain certain significant areas in business environment in reference to the Sydney IMAX Theatre. We will look at the business life cycle, the main elements of the business’s environment, the internal and external influences on the business and the social responsibilities of the business. 1. Classify the business and summarise its stage in the business life cycle, include a brief history The Sydney IMAX Theatre is a large privately owned business. IMAX is a proprietary limited business; this means that IMAX has a separate legal existence, distinct from its owners, managers and operators. It also has its own income tax liability, separate to your personal income tax.†¦show more content†¦Ã¢â‚¬ ¢ Geographic: changes to theatre access, parking or public transport will impact on attendance †¢ Consumer: flexibility in scheduling allows the theatre to respond to changing consumer demand for films (reputation and word-of-mouth is very important is influencing the success of any new film) Internal Influences: Influences that a business can control †¢ Technological: expansion of e-commerce in marketing activities for example the online ticket purchase system has been extremely effective since its introduction at the start of 2004. †¢ New Systems procedures: introduction EFTPOS and credit card payment has increased sales. New timetabling methods allow teaches to give their students more time in the theatre. †¢ Financial: New budgets will affect how a new film is marketed and how much advertisement it gets †¢ Product: changes in programming and film selection will influence attendance levels. The development of new products such as education talks will broaden the theatre market. The widening of the target market can potentially create new streams of people visiting the theatre. Both the Internal and external influences on a business are very important in a business’s survival. The IMAX needs to focus on improving their internal weaknesses without forgetting to figure out a way to stabilise its strengths. OnlyShow MoreRelatedBusiness Analysis : Nature Of Business1063 Words   |  5 PagesName: Bixing Peng Name of business: Haefren Baum GmbH Nature of Business Haefren Baum GmbH is a home furnishings retailer. The company was established in 1965 and incorporated in 1970. Haefren is a major customer of Wiegandt GmbH and has served as Wiegandt s since 1968. Haefren currently owns one location in downtown Cologn and three other outlets in suburb Rhineland. Marketing Haefren Baum GmbH is one of the customers of Wiegandt. The company has been in the market since 1965 and incorporatedRead MoreHistory And Nature Of Business1658 Words   |  7 PagesI. COMPANY PROFILE A. History and Nature of business: a. History: †¢ Automatic Data Processing Inc (ADP) is a company that first founded under the name Automatic Payrolls by Henry Taub in 1949. From a company that first offered payroll services, ADP became one of the pioneers in providing business outsourcing, a concept that was still foreign to businesses of during that time. Realizing the inefficiency of current payroll activities, more companies came to ADP for the services, as demand grew higherRead MoreNature of Business of Kfc2393 Words   |  10 Pagesaspects of the marketing environment. 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ISBN: 0135140730.   Canadian Business the Law Canadian Business the Law - by Dorothy Duplessis, Steve Enman, and Shannon O Byrne Business Law in Canada Author: Richard A.Yates Teresa Bereznicki – korol Trevor Clarke 8th Edition Reserve Price: 90 Buy Out: 92 Canadian Business and the Law Third Edition AuthorRead MoreCsr Ltd. : Business Nature And Other Issues1193 Words   |  5 PagesAustralian industrial company which manufactures building products along with this it also has an investment in Tomago Aluminium Smelter. CSR Ltd. is a publicly traded company. In this study capital rising options of Jonson P/L is discussed along with business nature and other issues of CSR Ltd. Part: A Introduction A company is a company which formed and registered under the specific company act and a company will be treated as an invisible, artificial person, intangible, legal entity, perpetualRead MoreNature, Scope and Importance of Business Policy5683 Words   |  23 PagesWikipedia.org. EXECUTIVE SUMMARY The Electronic commerce or e-Commerce as is known today evolved as businesses (end to end process) started to shift from real time market to digital market. All of the business today as we see is done over the internet and anything which is not there is meant to be wiped off. Ecommerce, the online shopping system has brought down political and physical barriers giving everyone in the world an equal playing ground for theirRead MoreStrategic Alignment Is A Method For Understanding The Nature Of A Business1646 Words   |  7 PagesStrategic alignment is a method for understanding the nature of a business through the association of business processes and strategies (Morrison, Ghose, Dam, Hinge Hoesch-Klohe, 2011). The use of strategic alignment allows an organization to contemplate its long life and to find how achievable its visions for the future are (Morrison et al., 2011). On the other hand, ‘best practice’ demonstrates an established set of human resource practices that can be utilized within any circumstance to achieve