Business Studies Preliminary Assessment Task
Business Report for QANTAS
1. Executive Summary:
The main focus of this report is to identify the legal classification, the characteristics, the life cycle stage of Qantas and one internal and external stakeholder that is affected by the activates of Qantas. The legal classification describes that Qantas is a public company and has changed its legal classification in the growth and maturity stages of the business life cycle. The characteristics of Qantas talks about the company's industrial classification and sector classification. The business life cycle is explained and gives reason why Qantas is in the renewal stage of post maturity. There is also description of one internal and external stakeholder and what duties Qantas has to them.
2. Legal Classification:
Queensland and Northern territory aerial service (QANTAS) limited is a public company that operates all over the world, but has not always been a public company.
Being a public company means that Qantas must have a minimum of five shareholders, with no maximum number, a minimum of three directors (2 must live in Australia), the word "limited" or "Ltd" in its name, has limited liability (protects shareholders from losing personal assets if the company goes into liquidation) and must publish their audited financial accounts each year (annual report).
In 1947 Qantas became a public business enterprise (a company owned and operated by the government) when it was purchased by the Australian Government as there was a monopoly market. The Australian government operated Qantas for a long period of time until they sold 25% of Qantas to British airways in 1993 which began the process of turning Qantas into a private business enterprise. This was completed in 1995 when Qantas was privatised and shares where listed on the Australian Stock Exchange (ASX) after a prospectus was...