Business: Definition, Characteristics, Organizational Structures, and PESTLE Analysis

This paper explores the definition, characteristics, and examples of micro, small, medium, and large businesses, as well as different organizational structures and how they affect productivity. It also uses PESTLE analysis to explain how external factors impact business performance.

Business

Table of content
 Introduction
 Definition, characteristics and examples of micro business, small
business, medium size business and large size business
 Definition, characteristics and example of sole trader business,
partnership, limited liability business, public limited liability business
and Cooperative
 Identify different organisational structures and explain how
organisational structure affects business productivity.
 Using PESTLE analysis explain how different external factors affect
the performance of a business.
 Conclusion
 References

Introduction
The recommended paper examines and evaluates numerous kinds of
businesses in great depth. It emphasises the importance of various
phases of training in improving the yield of businesses. In particular,
the study includes a full examination of the Pestle Theory.

Definition, characteristics and examples of
micro business, small business, medium
size business and large size business
• Micro scale business- A smaller enterprise is a small local business on
a very small scale. The activities enabled inside the entrepreneur have a
really wide capability, and the goods they use are similarly quite
constrained. The total workers in a small enterprise is less than ten.

Definition, characteristics and example of
sole trader business, partnership, limited
liability business, public limited liability
business and Cooperative
• Sole Trader- A business owner is an area of company in which a
normal individual owns, manages, supervises, and controls the
company.

Identify different organisational structures
and explain how organisational structure
affects business productivity.
The methodical processes and managerial methods integrated by economic
entities in ability to motivate the day-to-day activities in a coordinated
and planned method are related to organizational framework. The
amount of production governed by corporate organizations is heavily
affected by political architecture, which is a strategic assessment.

Using PESTLE analysis explain how
different external factors affect the
performance of a business.
• Political- The social atmosphere has a substantial effect on the
functioning of corporate organizations in their particular industries.
When corporate organisations run in a stable macroeconomic system,
companies were capable of operating with greater flexibility than when
they manage the operations in a political instability arena, according to
research.

Conclusion
It can be concluded from the above that there are various aspects that are
mentioned above and thus has to be examined in a very detailed manner.

References
• Kareem, T.S., 2018. Impact of inventory management practices on
small and medium enterprises manufacturing subsector in Oyo State,
Nigeria. South Asian Journal of Social Studies and Economics, pp.1-8.
• NGOLYA, J.N., 2020. DETERMINANTS OF GROWTH OF SMALL
AND MEDIUM ENTERPRISES IN THIKA TOWN, KIAMBU COUNTY,
KENYA (Doctoral dissertation, Gretsa University).

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