Types of Companies: Micro, Medium, Large, Sole Trader, Partnership, Limited Liability, Public Limited Liability, Cooperative

BSc (Hons) Business Management with
Foundation
BMP3002
Business in Practice
Assessment 1
Types of Companies
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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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