Business Environment: Types of Organizations, Legal Structures, Competition Policy, Fiscal and Monetary Policies, and Globalization

Business environment

Table of Contents
INTRODUCTION ..........................................................................................................................1
MAIN BODY...................................................................................................................................1
Different types of organisations in different sectors..............................................................1
An explanation of the different legal structures including their advantages and disadvantages.
................................................................................................................................................2
Sole Proprietorship.................................................................................................................2
General Partnership................................................................................................................2
Limited liability company......................................................................................................3
The differences between public and private ownership including the different forms of
financing used for both...........................................................................................................3
An assessment of the UK Competition policy and the legislative framework surrounding
anticompetitive practices........................................................................................................4
How the Competition and Markets Authority operates to review business practice and impact
on the consumer......................................................................................................................4
Objectives of fiscal and monetary polices which the government can use to regulate the
economy.................................................................................................................................4
An understanding of globalisation and how it affects business, competition, and the economy.
................................................................................................................................................5
CONCLUSION................................................................................................................................5
REFERENCES ...............................................................................................................................6

INTRODUCTION
Business environment is the collection of the internal and external factors that is always
changing and uncertain. It comprises of employees, customers, demand & supply, management,
suppliers, technology, competitors and so on. These are the factors which which can affect the
business of any company(Betti, and Sarens,2020). Therefore it helps in identifying the
opportunities and threat so that it can take the business to the growth. A business environment
analyse the strategies and actions of the competitors so that a firm can get the competitive
advantage. In this report, Marks and Spencer is taken into consideration, which is a UK based
public limited company headquartered in London. It involves in the business of selling food
products, clothing and home products. This report will cover various type of organization in
different sectors and pros and cons of different legal structures. Further, it will discuss the
difference between private and public ownership, and competition policy with anti-competitive
practices. Apart from this, it will states the objectives of fiscal and monetary policies in relation
to the business operations and importance of globalisation.
MAIN BODY
Different types of organisations in different sectors
There are different types of organisation in different sectors whose description is given
below:
Private sectors: These are the organisations which are owned by an individual and the
profit generated from this benefits to the owners, shareholders and investors. These firms are
financed by shareholders and banks loans(Razzaq, and et. al.,2018). There are various
organisation which are involved in the private sectors that includes individual business owner,
corporation or other non government agencies.
Public sectors: These are the organisations which involves many forms of business run
by the government which are described below:
 Departmental undertakings: It is also a form of public sectors enterprises that is run by a
government that functions under the control of one ministry or department of government
such as railways, post and telegraph, broadcasting, telephones etc.
1