Business in Practice

Business in Practice

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
SECTION 1..................................................................................................................................1
SECTION 2..................................................................................................................................3
SECTION 3..................................................................................................................................5
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Business is termed to an enterprising firm which is engaged professional and commercial
related practices (Bos and Millone, 2015). In business, effective practices are set of ideas and
guidelines that represents most prudent course of actions in pertaining situation. In business, best
practises are framed by authorities including regulators and governing bodies for smoothly
performing workings towards objectives. For the assessment, Unilever is selected company that
is a large sized venture having headquarters in the city of London, United Kingdom. It is one of
oldest multinational entities whose offerings are available in more than 190 nations.
The assessment investigates about micro, medium size, small as well as large size
business as per definition, characteristics and suitable example. Further, it explains distinct
entities ranging from sole traders, limited liability entity, cooperative and partnership. It also
discusses various business structures and the ways external factors impacts on practices and
performance of company.
MAIN BODY
SECTION 1
Definition, characteristics as well as examples of different business
Business is a delineated as an activity to generate living of an individual and making
revenues through manufacturing and selling. In other terms, it is an organised effort of people for
producing together with selling commodities for profit (Buckley and Ghauri, 2015). The
definition and other details of various business that are investigated by analysts of Unilever are
as follows:
Basis Micro
organisation
Small
organisation
Medium
organisation
Large
organisation
Definition Micro enterprises
are defined as units
of business that hire
fewer population
and earns for day to
day living.
Small company is
described to a not
for profit
business that is
independently
owned, operated
Medium
businesses are
termed within
Companies Act
2006 as
organisation with
A company which
have manpower of
more than 1000
people and diverse
product portfolio
for making large
1