Business Environment: Types of Legal Structure, Public and Private Sector, UK Competition Policy, Government Intervention, Globalization and Offshoring Manufacture

Business Environment

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Presenting types of legal structure.............................................................................................3
Explaining public and private sector ...........................................................................................4
Presenting UK competition policy..............................................................................................5
Presenting how the competition in the market operates..............................................................5
Macro-economic objectives and its difference with fiscal and monetary policy instruments.....6
Government intervention into the economy................................................................................6
Impact of government intervention on employment, taxation, interest rate, balance of
payments and exchange rates.......................................................................................................6
Definition of globalisation...........................................................................................................7
Presenting how the globalization process affects the business, competition and economy........7
Impact on off sharing manufacture on domestic policy...............................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................1

INTRODUCTION
Business environment is basically a marketing term that refer to marketing terms that
refer to factors and force that can affect organization ability of maintaining profitability as
well as customer relationship. Along with this, the present report has discussed about types of
different market structure and the competition policy of company. Lastly, study will throw
light on objectives of fiscal and monetary policy instruments that government can make use
to regulate economy.
MAIN BODY
Presenting types of legal structure
Business is define as process of selling goods and services in order to customer in order to
earn profit. The main purpose of business is to provide quality services to their customer
and to increase profit (Radović-Marković, Salamzadeh and Vujičić, 2019). Although before
starting the business organization has to determine the correct legal structure of the company
in order to avoid intervention of government. There are three types of legal structure for
business that are mentioned in detail below:
Sole Proprietorship: This type of business is run by single owner and it aim at earning profit.
Along with this type of business usually have pass through taxation and does not have to file a
tax return. The tax has been included in owner own personnel income (Calabrese, Caputo and
Sarno, 2018). The liability of this type of business usually lies on the owner it can mitigate the
risk with the help of insurance and sound contracts. The advantage of this type of company is
that it is easy as well as cheap to establish. The owner has full control over the organization
like it can make their own decision. However, the disadvantage of having this type is owner has
to face the risk alone and it is liable for them as well as it is difficult to raise funding for this
firm.
General Partnership: It is known as collaboration of more than two partners that works
towards accomplishing common goals. Along with this, partners are liable for all loss jointly
and both have owner based on profit sharing percentage (Jevšenak, 2019). The advantage of
having this type is that it is contract between party as well as tax is shared by them. The
disadvantage of having partnership that there can be issue between partners and it can dissolve
the company.