BSc (Hons) Business Management with Foundation: BMP3002 Report

This report, prepared for the BSc (Hons) Business Management with Foundation course BMP3002, explores various types of companies, including micro, medium, and large businesses, and their operational characteristics. It delves into different business structures such as sole traders, partnerships, and limited liability businesses, examining their key features and implications. The report also investigates the influence of organizational structure on business productivity, highlighting how structure impacts efficiency and employee satisfaction. Furthermore, it applies PESTLE analysis to assess the impact of political, economic, social, technological, legal, and environmental factors on business performance. The report provides a comprehensive overview of these aspects, offering valuable insights into business operations and external influences.

BSc (Hons) Business Management with
Foundation
BMP3002
Business in Practice
Assessment 1
Types of Companies
Submitted by:
Name:
ID:
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Table of Contents
Introduction...................................................................................................................3
MAIN BODY .................................................................................................................3
Section 1.......................................................................................................................3
Different types of companies and how they work ....................................................3
Section 2: Different companies ....................................................................................6
Section 3: Different business structures and external factors affecting business........8
3.1 Identification of different organizational structures and explaining how does
organisational structure affect business productivity...............................................8
3.2 How different external factors affect the performance of a business – PESTLE
Analysis ...................................................................................................................8
Conclusion....................................................................................................................9
Reference List ............................................................................................................10
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Introduction
Organizations are that kind of legal entity that has been used in order to make
different kinds of activities taking place within it. Also organization are those
opportunities which has been formed over making sustainability achieved with goals
and objectives that is set by an organization. In other words an organization is
referred to as that kind of commercial enterprise which are bound to follow laws in
relation to perform business with more efficiency. These makes laws in relation over
business formed. Also organization majorly makes common goals and objectives
achieved in relation to activities of business. Scope is wider in nature of business
organization as they makes target achievable through efficiency and productivity.
Nature is dynamic as they make target achieved in more effective way. Things
covered within file is based upon micro, small and medium business organization.
Then in this organizational structure is maintained. In the end PESTLE is been done
MAIN BODY
Section 1
Different types of companies and how they work
Micro business:
These are those business organizations that works within small level and has
less employees working in it. Such enterprises operates only employees which
should not be more than 50. Also such organization generally deals upon small task
as per the nature of work been done by them. Micro organization has less strength of
employees (Wee, Lee and Farley, 2018). These organizations only small based
employees which work with less than 10 persons. Funds for these organization is
arranged through investment and arrangement. These businesses help improve the
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quality of life for people in developing countries, and generally provide a good or
service in their communities. Under these organization like bakery, grocery stores
and dairy product selling shops is been covered. These organization works upon
certain characteristics which is been possessed by them and they are explained as
follows:
1. Willing to Take a Risk
Such organization are newly based organization that has been formed by an
owner and is willing to take risk for making establishment possible within market.
Also being micro industries doors towards different opportunities is opened for them.
This leads upon making innovation possible within working pattern of business.
Through this opportunities within market is spotted by them.
2. Driven to Succeed
This makes ideologies and skills used in business to be enhanced which
helps in making establishment of an organization possible. Also they are able to
attract customers which pave there way towards success.
3. Focused on Achieving Goals
As they are new that is why they are required over focusing upon goals and
objectives that is been set by them. This makes them attain profitability and makes
short, medium and long terms goals achieved through making constant progress
attained.
4. Confident, Enthusiastic, and Passionate
Successful small business owners are good at inspiring those around them
whether that is clients, employees, business partners, suppliers, or family members.
This requires confidence, enthusiasm, and passion (Tao and Li, 2017).
Medium size business:
These organizations are that kind of business organization which is based
upon defining of those organization having more than 50 employees but has not
exceeded 1000. Also employees working within an organization works for achieving
of goal and objectives. These organization is based upon marketing of products and
making it reach to its customers. Further it makes expansion possible within
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particular market. Under it different kinds of traits is been followed by these
organizations which is annual sales, number of employees, amount of assess owned
by organization and also future sustainability is been seen of such organization.
Organization covered under it is based upon hotel, rental houses and departmental
stores. They work upon various important things which has been explained as
follows:
1. Favours flexibility and innovation
The organization developed process and innovation through which objectives
and goals is been achieved through effectiveness. These organization keeps on
developing its products that helps in attaining of sustainability in market. Further
production capacity is improved of an organization through this.
2. Creates a more competitive and healthier economy
These organization makes competitive environment attained within market
which makes them improvisation within product, prices and efficiency improved. This
characteristics develop medium scale enterprises in more efficient manner.
Large size business:
These business organizations are the organization which work with larger
strength of 1000 employees. Large organization persists of tendency over impacting
of all kinds of activities that also contributes within economy. Examples of these
organizations are factories, industries and production units. There are certain
characteristics which helps in working of these organization and they are as follows:
1. Effective Sharing of Goals
It is one of the most important characteristics that is been followed by these
organization. Under this goals is been shared through which effort is been made in
relation to broader perspective for developing of vision and mission within an
organization. Further it makes sharing of task possible that makes success attained I
more effective manner.
2. Great Teamwork
These organizations requires teamwork to be done in order to achieve task in
more effective manner. Also coordination increases which makes employees over
performing efficiency within it. Large scale organization helps in managing of
objectives with more efficiency (Stoyanova and et. al., 2019).
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3. High Employee Morale
Large organizations makes responsibility which makes employees motivated
to an extent with more efficiency.Leaders requires to perform various kinds of things
which makes success attained.
4. Offers Training Opportunities
This characteristics makes organization provide various kinds of facilities in
relation to training and development of skills within its employees. This makes
opportunities created for employees work in more efficient manner (Skeva,
Larmuseau and Shabani, 2020).
Section 2: Different companies
Sole trader business: These are those kind of business organization which has
one single owner which handles all things that is related to business. Such
organization's owner keeps all profit by themselves. Under the business various
kinds of characteristics is been possessed by them that has been given as follows:
 Sole proprietor business organization is been imposed and only profit is
earned by owner himself.
 Tax is been paid in the form of personal tax.
 This is most easily formed business which does have complex process for its
formation.
 Also no complex documents is required within it.
 Profit is been earned which is been kept by owner himself.
Partnership:
These are those kind of formal agreement which has been formed between
two parties and they are responsible over handling of profit or debts within an
organization. Further the organization shares all kinds of profit and loos within
partners that has come in an agreement (Skeva, Larmuseau and Shabani, 2020).
Certain kinds of characteristics that has been possessed by them which are as
follows:
 A partnership is an arrangement between two or more people to oversee
business operations and share its profits and liabilities.
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 In a general partnership company, all members share both profits and
liabilities.
 Professionals like doctors and lawyers often form a limited liability
partnership.
Limited liability business:
These are those kind of organization which has been formed and partners
hold only limited liability in relation to organizations running. These kinds of business
organization focuses upon investment which has been done by partner according to
which there liability is there. Under it private assets is not at risk and is no debts is
paid from it. Certain characteristics that is been possessed by them and they are as
follows:
 Such organization protects about legal structure which makes formation of
organization possible. This makes recovery of loss through protection of
personal assets.
 Limited liability helps on making investor attain redundancy through equality
and helps in staining of ownership.
 Various limited liability structures are there which are limited liability
partnerships (LPs and LLPs), limited liability companies (LLCs), and
corporations
Public limited liability business:
These are that organizations which is having PLC within its last name and
makes selling of shares to public done e(bedev and et. al., 2018). Lot os
characteristics that has been explained as follows:
 Different kinds of organization that has been there upon making multi
owners investment criteria developed within it.
 Such organization makes profits and loss sustained through making
stability attained in an organization.
Cooperative:
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These are those organization which deals upon those business which is
having Prvt ltd within its name. Such organization does not sell its shares to public.
Section 3: Different business structures and external
factors affecting business
3.1 Identification of different organizational structures and explaining
how does organisational structure affect business productivity
Organization structure is that part of organizational process through which
different activities related to an business by making goals and objectives achieved in
more effective manner. Also it helps in determining that information is followed within
more efficient manner in an organization (Kirichenko and et. al., 2020). Further it
helps in making impacts done in more disciplined and organized manner. This helps
organization structure create an impact within an organization through increasing
productivity that has been explained as follows:
 An successful organization makes structure which leads over development of
proper structure possible.
 It helps in attaining job satisfaction to employees.
 Under it productivity is been achieved over focusing by making goals and
objectives achieved with vision and mission.
 This leads upon making centralized stricture through increasing production
capacity with effectiveness developed.
3.2 How different external factors affect the performance of a business –
PESTLE Analysis
PESTLE Analysis : Such analysis makes tools used over managing factors
through impacting all kinds of factors. Such factor makes dealing over operations in
relation to external factors of an organization. Further it has been done as follows:
Political factor: These factors makes changes possible as per the policies that
has been formed by government. Organization gets affected from this in a way that
policies directly impacts selling and buying of products (Gasser and Malzacher,
2020).
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Economical factor: This factor is related to those factors which are import and
export rates, inflation, rescission and other things that impacts economy of an
country. If export prices increases then profit generated is been impacted within an
organization.
Social factor: The factor is related to taste and preferences which is
developing within an society among customers. It makes an organization understand
about customers demand which makes business expansion possible.
Technological factor: They deal with technological changes taking place within
an organization. This helps in increasing production capacity of an organization
which enhances supply chain process in more effective manner.
Legal factor: This factor deal with all kinds laws which is related to an
organization. It helps in solving of legal issues within and protect from legal problems
(Alizadeh, and et. al., 2019).
Environmental factor: This helps an organization in creating environmental
awareness that makes customers attraction possible in faster manner.
Conclusion
From the above discussion it can be market out that an organization is tat
entity which make transaction done in more effective manner. Also selling of
products and buying of products is been done by them. Further the file cover about
various kinds of organization and companies which exists all over the world. In the
end organizational structure and PESTLE is been explained.
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Reference List
Books and journals
Alizadeh, F and et. al., 2019. GDPR-reality check on the right to access data:
claiming and investigating personally identifiable data from companies. In
Proceedings of Mensch Und Computer 2019 (pp. 811-814).
Gasser, M. and Malzacher, M., 2020. Beyond banning mercenaries: The use of
private military and security companies under IHL. In International
Humanitarian Law and Non-State Actors (pp. 47-77). TMC Asser Press, The
Hague.
Kirichenko, O.S and et. al., 2020. Diversification of Russian oil and gas upstream
companies. International Journal of Energy Economics and Policy. 10(3).
p.112.
Lebedev, K.A.E and et. al., 2018. Methodological approaches to assessing the
efficiency of personnel management in companies. J. Advanced Res. L. &
Econ.. 9. p.1331.
Skeva, S., Larmuseau, M.H. and Shabani, M., 2020. Review of policies of
companies and databases regarding access to customers’ genealogy data
for law enforcement purposes. Personalized medicine. 17(2). pp.141-153.
Skeva, S., Larmuseau, M.H. and Shabani, M., 2020. Review of policies of
companies and databases regarding access to customers’ genealogy data
for law enforcement purposes. Personalized medicine. 17(2). pp.141-153.
Stoyanova, T.A and et. al., 2019. Strategic Management of the personnel
Development of industry Companies. Academy of Strategic Management
Journal. 18(3). pp.1-6.
Tao, L. and Li, P., 2017. Research on evaluation of the growth of new energy listed
companies in China. Journal of Industrial Technological Economics. 36(2).
pp.118-125.
Wee, C.H., Lee, S.K. and Farley, J.U., 2018. Corporate planning practices of
companies in Singapore: a comparison by nationalities. Global Business:
Asia-Pacific Dimensions. 14. p.200.
Zhang, F., 2020. International acquisition strategy of emerging economies: a study
on Chinese hotel companies.
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