P3 Describe the Main Physical and Technological Resources...

Insurance Insurance is a type of physical resource. Insurance is a resourec that protects businesses from losses due to any type of events that can occur during the normal course of business. There are many types of insurance within businesses. these include, insurance for a property damage, insurance for legal liability and insurance for employee-related risks. Some of these Insurance are used within Topshop. This is used within the business as it allows them to reduce the financial impact of risk to occur within the business. Having insurance within the company means that the business will not have to worry about the risk of having to pay a large amount of money to repair the business. It also allows them to claim money if any floods†¦show more content†¦copyright; copyright is a legal term used to describe the rights that creators have over their artistic work or ideas. An example of the work covered by copyright are databases,music, advertisements and computer programs. These intellectual properties are important within Topshop. this is due to the fact that without the protection of their ideas, they would not obtain the benefit of their inventions. furthermore, having intellectual properties will increase Topshops market values as well as increase their future profits. Software license Software license is a type of technological resource. Software license is the permission to use computer programmes within a business. Software license is important within Topshop. This is due to the fact that without it non of their machines or systems would not work. furthermore, software license is also important to the manufactures of Topshop. This is due to the fact that software licenses is need in order for any of their products to work in new ways or in a way that is compatible with their customers existing computer systems. Accumulated skills and experience Accumulated skill and experience is building up particular things. These are the tacit knowledge which has been developed through a number of years. these are done when the business keeps the person in a job. this will lead the level of their productivity to grow. accumulated skill andShow MoreRelatedP1- bUSINESS UNIT 22223 Words   |  9 PagesBusiness Resources Name of assessors: Mr Williams Mr Toher Deadline for completion: Statement of Context: At the core of every organization are the human, physical, technological and financial resources that enable it to function. In this unit you learn the importance organizations place on managing their resources efficiently in order to achieve their objectives. 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