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Business and Business Environment - Size and Scope

   

Added on  2021-02-21

11 Pages2515 Words35 Views
Business and businessenvironment

Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3Types, size and scope organizations...........................................................................................3TASK 2............................................................................................................................................7Interrelationship of various function within the organisation.....................................................7CONCLUSION .............................................................................................................................10REFERNCES ................................................................................................................................11

INTRODUCTIONMerrill Lynch bank is established in America which deals with investing and wealthmanagement under the surveillance of Bank of America. Merrill lynch along with Boaf securitiesdeals with prime brokerage and security dealing (Crane and et.al., 2019). Its headquarter is statedin New York city, its workplace is in Manhattan. Bank hires over 1500 financial advisors.It was public ally owned and traded under New York stock Exchange, which later fall underfinancial crisis and was later acquired by bank of America. later on it was merged with bank ofAmerica corporation after the acquisition was completed. Later on bank was renamed as Merrill.Merrill lynch was under many controversy some of which are misleading brokerage customers,misusing secretive information only after the bank was undertook by the bank of AmericaMerrill lynch spread its hands in many countries with many facilities such as banking, stockexchange, global marketing and corporate credits and transaction banking. it provides cooperatecredits and transaction facilities to the corporate. Merrill Lynch has vast spread in manycountries of the world and has proved itself as one of the global cooperate and investment bank.It also provides customers with financial solutions TASK 1Types, size and scope organizationsSole trader Sole proprietorship or trader refers to that business which is owned by the individualperson and that person independently runs the whole business. No interference of legaldiscrimination is there between the businessman and the company (Charter, 2017). Sole trader isnot registered like private company. Some of the examples of sole traders are restaurants,catering business, tutor, plumbers etc. some of the advantages and disadvantages of the soleproprietorship are Advantages Sole proprietor have full control over the whole business without any hindrance.The sole trader keep the entire earnings of the business Information regarding the business is kept personally not like the private companyThe decision is made by the owner itself

Disadvantages Decision is taken by only one person without any help from others unlimited liability difficulty for raising fundPartnership According to Indian partnership act 1932 partnership refers to the business which ismanaged and directed by two or more partners and ownership , profits and even losses are sharedbetween them (Saleem, 2015). There are some advantages and disadvantages of partnership are:-Advantages Partnership business is easy to open and maintain.The workload can be shared between partners The partnership firm can have the benefit of large resources FlexibilityDisadvantages There is limited resources Differences regarding opinion arises In partnership the instability can arise due to the insolvency,deathDue to wind up of company not only company suffers losses at the same time societyalso.Private company Private company refers to the company in which the shares are not traded in generalpublic and have private ownership. Example- Merrill Lynch company. Some advantages anddisadvantages are:-Advantages The private company has limited liability for its stockholders Benefit to the shareholders regarding the restricted trade regarding the shares to theoutside acquirers If the person dies or retires from the company then also the company continues to existSeparate personalityDisadvantages Registration process takes very long time and it is very costly

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