Organizational Purposes of Businesses essay
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Boston Electricity Supply Company (popular as BESCO) is a public company the supply electricity whose offices are located in Dolphin Lane, Boston, Linconshire. The company was registered in 1923 with an authorized capital of 170,000 pounds per pound shares. The company confines its operations to the supply of electricity to street lights and residential homes in the North Eastern Boston from 1924 up to date. Hitherto, the company has extended its operations of supplying electricity to other areas such as the Kirton villages and other adjacent areas outside Boston. Today, the company supplies well over 20,600 consumers and extensive 300 miles of power lines. The company was later nationalized when its management was taken over by the then established East Midlands Electricity Board (BESCO 2010).
Under the new name East Midlands Electricity Board, the company is committed to supplying electricity to thousands of homes within and without Boston. As provided in their service charter, the company is focused to extend their power line coverage throughout the North Eastern Boston and its environs. Additionally, increased street lighting throughout Boston is another core business the company embarks on. According to the New York 2010 Annual Business Report, the company is planning to generate its own power from renewable sources such as geothermal, wind, and biogas. Upon completion of the new project in the first quarter of 2012, the company will increase its power generation capacity to over 245 megawatts.
The power supply company ensures that it meets the demands of its clients by providing reliable and more stable power supply throughout the region. To increase its efficiency and service provision, the Boston Electricity Supply Company generates its own power to meet the growing demands for electricity in Boston City. According to the Chief Executive Officer, the company is dedicated to make electricity affordable to all residents of Boston in conjunction with financial and non-financial institutions.
Boston Private Bank & Trust Company is subsidiary of Boston Private Financial Holdings which is located in the Greater Boston area. The company was chartered and began its operations in 1987. The private bank offers variety of financial services and support tailored made to meet the banking needs of its numerous customers.
Just like any other bank, Boston Private & Trust Company offers ordinary banking services such as customer care, commercial banking, deposits and cash management for its clients. Clients can deposit and keep money into their respective banks accounts for the purposes of future withdrawal after it has accrued an interest. The bank is also lauded for its financial advisory services since its staff provides one to one financial and investment education from time to time or any other time before they (customer and businesses) are advanced with loans. Secondly, Boston Private Bank & Trust Company also offers mortgage services to its clients in Boston and throughout England indiscriminatively. Finally, the bank holds a number of financial investment and real estate some of which it manages on behalf of investors (clients).