Business Environment: Different Types of Firms and Their Legal Structure

This presentation provides an overview of the business environment, including the internal and external factors that influence a firm's operational condition. It discusses the different types of firms and their legal structure, as well as the size and scope of various organizations. The presentation concludes with a discussion on the impact of internal and external factors on the business environment.

BUSINESS
ENVIRONMENT

CONTENT
 Introduction
 Different kind of firms with their legal structure
 Size and scope of various types of organisations
 Conclusion
 References

INTRODUCTION
 Business environment can be defined as combination of
internal and external factors which may influence firm's
operational condition.
 It can include various elements such as clients, suppliers,
competitors and owners. Improvement in technologies, laws,
legal norms, market trends, social and economic factors are
also impacts on business environment.

Different kind of firms with their legal
structure
There are various kind of organisation in
current scenario having their own
objectives and targets to earn profits
or benefits as well. Generally, firms
are classified into three categories
such as private, public and voluntary
sector in which they have their
different goals and procedures to be
conducted.

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Public sector organisation - In this aspect, public sector
organisation are generally owned by government of nation for
welfare of citizens.
For example - British broadcasting corporation can be included in
this sector. This will includes several services in which people
have to pay tax and that amount money are usually finance most
of public sectors.

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Private sector includes Burger king which can be defined as such
organisation which are owned by private owners.
This business sector is run by private individuals as per their
franchise, partnerships, companies and sole traders.

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At last voluntary sector includes firm like Welcome trust which
can be described as those companies which are owned and run
by group of people.
They have responsibility for make sure that it prepares objectives
or targets with its budget of organising.

Size and scope of various types of organisations
Public sector - Public sector organisations are owned and run by
government authorities and they have to collect tax and put it in for
welfare of citizens of the nation.
For example - The BBC service at global level can be described as
an international broadcasting services which renders television,
radio and online services in around 26 languages.
Mission and vision statement:- Vision statement can be defined as
overarching aspirations of whatever it hopes to attain or become
amongst clients.

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Private sector - This sector includes various private firms owned by
private individuals as per their franchise, partnership and ventures
in particular company.
Burger King belongs to fast food and restaurant industry which
render various kind of food products to people as per their needs,
wants and demands.

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Voluntary sector
These are such organisations which deals in charity aspects to
provide necessary things to needy people for free of cost by
collecting donations in charity funds.
The Welcome trust company's fund which is delivered 16.9pc
return of the year taking value of its portfolio to record
£23.2bn.

CONCLUSION
The above report had concluded that there are various kind of
business belongs to public, private and voluntary sector with
their won unique purposes having their legal structures.
The firms are necessarily conduct SWOT analysis along with
internal and external macro factors to know about their
negative or positive impacts.

REFERENCES
Avramenko, A., 2012. Enhancing students' employability through business
simulation. Education+ Training. 54(5). pp.355-367.
Burns, C. and Winter, S., 2011. Introduction. Australian Farm Business
Management Journal. 8(2). p.iv.
Chow, A. T. and et. al., 2011. Broadband network with enterprise wireless
communication system for residential and business environment. U.S.
Patent 7.944,948.