In this video, we investigate what procurement is. Procurement is the process of acquiring goods, services, or works from external sources to meet an organisation's needs. It involves tasks such as sourcing suppliers, negotiating contracts and managing the purchasing process. Effective procurement aims to obtain quality products or services at the best possible prices, within budget and in a timely manner. It is a critical function for businesses, government agencies and nonprofit organisations to ensure their operational needs are met efficiently and cost-effectively. ►Become a FREE SUBSCRIBER to TWO TEACHERS now: https://www.youtube.com/c/TwoTeachers?sub_confirmation=1 ►Check out our website for lots of educational business resources https://www.twoteachers.co.uk Remember to hit subscribe & turn notifications on (bell icon) so you never miss a video! #procurement #businessexplainervideos #businesseducation

In this video, we investigate capital income. Capital income is money coming into the business from sources other than the everyday running of the business. This money is often used to invest in the growth of the business. ►Become a FREE SUBSCRIBER to TWO TEACHERS now: https://www.youtube.com/c/TwoTeachers?sub_confirmation=1 ►Check out our website for lots of educational business resources https://www.twoteachers.co.uk Remember to hit subscribe & turn notifications on (bell icon) so you never miss a video! #income #capitalincome #businesseducation

In this video, we investigate remote working. Remote working means working from a location other than the office, often from home, using digital tools to collaborate with colleagues and perform job tasks. It offers flexibility in work environment and schedule, made possible by technology like video conferencing and project management software. This trend has grown due to technology advances and changing work circumstances. ►Become a FREE SUBSCRIBER to TWO TEACHERS now: https://www.youtube.com/c/TwoTeachers?sub_confirmation=1 ►Check out our website for lots of educational business resources https://www.twoteachers.co.uk Remember to hit subscribe & turn notifications on (bell icon) so you never miss a video! #remoteworking #remotework #businesseducation

In this video, we investigate the role that banks and building societies play. Banks and building societies are financial institutions that provide a wide range of financial services to individuals and businesses. These services include current accounts, loans, investment opportunities, payment processing, and other financial products. While banks tend to be larger and offer a broader spectrum of services, building societies often focus more on savings and mortgages, with a mutual structure where members, rather than shareholders, have a stake in the institution. Both play critical roles in facilitating economic activity and financial transactions in society. ►Become a FREE SUBSCRIBER to TWO TEACHERS now: https://www.youtube.com/c/TwoTeachers?sub_confirmation=1 ►Check out our website for lots of educational business resources https://www.twoteachers.co.uk Remember to hit subscribe & turn notifications on (bell icon) so you never miss a video! #banks #banking #businesseducation

In this video, we investigate how the functional areas of a business work together. Functional areas of a business refer to distinct departments or divisions within an organisation, each responsible for specific aspects of its operations. Common functional areas include finance, marketing, human resources and production. These departments collaborate and work in synergy to achieve the company's overall objectives. The effectiveness of these functional areas working cohesively can greatly impact a company's success, ensuring it operates efficiently, remains competitive, and adapts to market changes while delivering value to both customers and shareholders. Apple is a great example of how functional areas work together. ►Become a FREE SUBSCRIBER to TWO TEACHERS now: https://www.youtube.com/c/TwoTeachers?sub_confirmation=1 ►Check out our website for lots of educational business resources https://www.twoteachers.co.uk Remember to hit subscribe & turn notifications on (bell icon) so you never miss a video! #Apple #functionalareas #businesseducation

In this video, we investigate what a production department does. A production department is responsible for the process of creating and manufacturing a company's products or services. It involves various functions such as planning, scheduling, quality control, and overseeing the assembly or production process. The department ensures that production runs efficiently, meeting quality standards, and adhering to timelines. The production department's primary objective is to produce goods or deliver services effectively, on time, and within budget, contributing to the company's overall success and profitability. ►Become a FREE SUBSCRIBER to TWO TEACHERS now: https://www.youtube.com/c/TwoTeachers?sub_confirmation=1 ►Check out our website for lots of educational business resources https://www.twoteachers.co.uk Remember to hit subscribe & turn notifications on (bell icon) so you never miss a video! #production #functionalareas #businesseducation

In this video, we explore why businesses expand globally and what are the advantages of becoming a Multinational Company. Businesses expand globally for several compelling reasons. Firstly, international expansion allows them to access new markets and customer segments, often with greater growth potential than their domestic market. Secondly, global expansion can help diversify risk by reducing dependence on a single market or region. Globalisation enables organisations to stay competitive in a rapidly changing world, fosters innovation, and can result in improved brand recognition and prestige on the global stage. ►Become a FREE SUBSCRIBER to TWO TEACHERS now: https://www.youtube.com/c/TwoTeachers?sub_confirmation=1 ►Check out our website for lots of educational business resources https://www.twoteachers.co.uk Remember to hit subscribe & turn notifications on (bell icon) so you never miss a video! #internationalbusiness #multinationalcompany #businesseducation

In this video, we investigate what a marketing department does. The marketing department within an organisation is responsible for a range of functions aimed at promoting the company's products or services, attracting and retaining customers and increasing brand visibility. It conducts market research and promotion. Marketing teams create and manage advertising campaigns, social media and online presence, public relations and branding efforts. They also track the performance of marketing initiatives, analyse data to assess their effectiveness, and make necessary adjustments. ►Become a FREE SUBSCRIBER to TWO TEACHERS now: https://www.youtube.com/c/TwoTeachers?sub_confirmation=1 ►Check out our website for lots of educational business resources https://www.twoteachers.co.uk Remember to hit subscribe & turn notifications on (bell icon) so you never miss a video! #marketing #marketresearch #businesseducation