Business in Practice

BSc (Hons) Business Management with
Foundation
BMP3002
Business in Practice
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TABLE OF CONTENT
Section 1: Different types of companies and how they work....................................................2
Section 2: Different companies from sole traders to cooperatives and Limited Liability
Partnerships................................................................................................................................3
Section 3:....................................................................................................................................5
3.2 Different external factors affect the performance of a business – PESTLE Analysis.....6
Conclusion..................................................................................................................................7
REFRENCES.............................................................................................................................8
Introduction
Business in practice holds high significance within recent changing world, where
varied scale parameters are there present among working cultural aspects for bringing on
large scale connective rise innovatively. The report will be analyzing in detail varied types of
companies and how they work among capital investments, new strengthened capital rise and
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larger scale resources planning. Report will further examine detailed analysis towards sole
traders to cooperatives and limited liability partnerships, where business structures and
external factors plays crucial role for productive engagement. Study will further also
introduce new scale fundamental functional analysis, where structure innovations affect
companies productivity paradigms innovatively within longer time run.
Section 1: Different types of companies and how they work
Micro business:
The micro business is type of small business which further employs few than 10
people, where size and scale of operations are variedly limited for strengthening wider
productive pace within longer time periods. Micro businesses often function as sole
partnerships and earn less than$250,000 annually which explains capital investments are also
variedly limited within business parameters. Micro businesses are smallest enterprises,
where further scale functional rise cannot be achieved with lack of capital within structure,
and also fundamental work competencies.
Small business:
The small businesses on other hand are private owned corporations, partnerships and
sole proprietorship which have few employees and less annual revenue than a regular sized
business and corporation (International Business Strategy, 2017). Small business plays
specific role within society, for bringing on larger scale connective rise among business
hemispheres with small capital structure and dimensions related to establishment of new
scale resourceful active growth. Lower revenue, small scale management teams and limited
scale capital structure plays specific role which further also enables to differentiate with large
companies based on operational efficiency. Small business has opened up varied scope for
larger scale employment opportunities for people, where further new skilled working
expertise has to be enhanced actively for larger scale competitive synergies.
Medium size business:
The medium sized enterprises employ few more than 250 people, where they are have
capital structure more than small business but less than large companies within industry. This
further also significantly shows that medium size business have scope to further bring on
acknowledged productivity scope, with further keen productive edge benchmarks for
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