Business Unit 1: The Business environment
Differences in types of business activity for Port of Felixstowe and the Ipswich Transport Museum
Task 1a
Types of business activity
Port of Felixstowe
The Port of Felixstowe is a global and national business that is set up for profit. It is a private company in the tertiary sector and this is because it is a service. The service that it offers is that it transports containers all around the world. The port employs over 2500 people and they all do their separate roles for the everyday running from the business. The port is open 24/7 365 days of the year. The port of Felixstowe is a limited company so the shareholders in the business won't have to pay out any money if the port goes bust.
Ipswich Transport Museum
The Ipswich transport museum is a local, privately owned company that operates in the tertiary sector, because the museum has a charity status it doesn't make any money for the employees that volunteer and all of the money made goes back into the business. The service that it offers is the showing of transporting and engineering history in the Ipswich area. Over 250
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The employees are also stakeholders because they are interested in earning high wages and keeping their jobs. The employees are a large stakeholder in the business because without them the port wouldn't be able to function so the port has to keep their employees satisfied, a recent example of where the port didn't keep their employees happy is in 2013 the employees threatened of a strike because they wanted a large pay increase than the port was offering and because the employees have a large influence on the way the port operates, Hutchison Wampoa (the owners of the port) gave the employees a larger pay rise because without the employees the port would not be able to