This report explores the concept of business and its implementation in the UK, focusing on various types of companies, their working procedures, and organizational structures. It also discusses the impact of external factors on business performance through PESTLE analysis, using GlaxoSmithKline Plc (GSK) as a case study.
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Business in Practise
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TABLE OF CONTENTS INTRODUCTION...........................................................................................................3 MAIN BODY.................................................................................................................3 Section 1.......................................................................................................................3 Explain various types of companies and their working procedure...............................................3 Section 2.......................................................................................................................4 Elaborate company from sole traders to partnership and Limited Liability Partnerships....................4 Section 3.......................................................................................................................5 Analyse organizational structures and elaborate different organizational structure which affects business productivity.....................................................................................................5 With the help of PESTLE analysis elaborate external factors which affect performance of business.. . .6 CONCLUSION...............................................................................................................7 REFERENCE.................................................................................................................7
INTRODUCTION Business helps how to frame all the implementation of goods and services to be produced and provided for the customers in order to maintain the advancement and gaining for all the technological areas. There has been made various changes and UK from South important companies like small, medium, micro and large(Geller, 2018).As for all the companies it is important to serve out and maintain resources for the structure methods and it mainly depends upon the ownership like for cooperative, sole traders and partnerships. The organisation chosen in this report is GlaxoSmithKline Plc GSK. This is mainly a pharmaceutical biotechnological company which is being headquartered in London UK. It used to deal with all the important healthcareproductsandvaccineswiththenutritionalareasofproductsthatcoveredin pharmaceutical products. This report will deal with organisational structure and all the important macro environmental factors needed for the companies. MAIN BODY Section 1 Explain various types of companies and their working procedure. UKprovidesalltheimportantcompaniestomaintaintheimprovisedareasand techniques for the people and also helps out to promote the living standard. They maintain the innovative ideas and through which the employment is being implemented for all the companies. There are so many companies in UK that helps out to promote the employment and also implements out the segment for customers are working. All the companies in UK helps out to implement and promote the societal growth and also the method through which they can cover out the targeted customer segment. Some of which are mentioned as follows: Small business:It covers the employees who have been working are around 10 to 50 and they create an annual turnover for £10 million. This mainly helps out to maintain a proper generations of products and values through which they can frame of the work by single owner or also can be led by one or two individuals. These business work in a smaller
sections of the society and also be managed by the partners or the employees of the company( Xiong and Chen, 2019). Micro business:All those business which helps out to promote the economic growth and also in the welfare of the unprivileged sections of the society. These are mainly being covered by the employees who are being less than 10 and the annual turnover that is being made by such business practices are around £2 million. It helps out in growth and development sections of the society with the society and social adjustment(Kumar, and Kumar,2020). Medium business:This promotes out less than 250 workers been working in the business practice and the average turnover will be gain for around £50 million or such businesses practises are being maintained in order to promote the growth and also to uplift the advancement in the business practice this business used to cover out the solution for the market areas and also helps in the promoting employment sections by involving the investors and also the suppliers that are being channeled in various frames. Large company:These are mainly the multinational companies which used to cover a massive business sections where more than 250 workers are being employed and the annual turnover they used to make is more than £50 million used to work with all the trade relations and the global market segments by covering the international relation of market. And also provides to promote the important areas of the sustainability and maximum employability by reaching the customers demand. Section 2 Elaborate company from sole traders to partnership and Limited Liability Partnerships. Partnership:These are mainly all such business practices which involves more than two individuals who are being working together by sharing their common assets and liabilities with the profit and losses in order to implement the seasons. These are mainly all the adequate responsibilities and the transfer of interest that implement out the company is working. All such business practises are being registered and the partners are being liable for all the profit and losses that will be shared with them. If any of the partners leave the company then it will dissolve the firm(Rodrigues, and et. al., 2018).
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Cooperative:It mainly considers minimum 10 members for being working in the business sections and it helps out to promote all the organisations and segments for the poor working areas it helps out to implement the equity shares in the limited manner and also the capital that are being raised. Also development that are being considered in the democratic sections and also in the funds that will be cultured for the different areas are being maintained. This implicate out the nature through which they maintain the working segments and the methods of organizational goals. It serves out that all the head of the departments use to lay out the challenges and the outcomes(Sukoco, and et. al., 2020). Public limited liability business:All those companies which usually cover the liabilities that are being shared within the ownership and also the performance is being laid in a transparent manner by proper legislative and the records of maintaining the institution in the financial sector. They mainly have minimum seven members that are being involved in the business. It used to provide the fun that are being frame through the capital resources and also cover the public sectors and the areas through which the public limited companies are being framed. GSK is an example of plc(MMahmoud-Jouini., and et. al., 2018.). Limited liability business:All this business practices which used to cover the hybrid areas in which at least two members are being involved in running the business successfully. It covers out the taxation that is being important for all the managerial activities in the partnership and it also promotes out the smaller segments of business practices which have the flexible working fragments of areas. It used to provide a goals and also maintain the working environment in a limited areas and manners. Section 3 Analyse organizational structures and elaborate different organizational structure which affects business productivity. Organisational structure is mainly the implementation of strategies through which a proper methods and the company workings can be framed out. It provides out the method through which companies used to build a proper areas of enterprise and also a systematic approach in the working procedure is being framed. Some of the important areas of working are as mentioned below:
Hierarchical structure:This is mainly the structure which is a pyramid shape and also provides the decision from the topmost level to the lower level as it implement out the information and also circulate information from all the management commands and areas. It governs out from CEO to all the employees who are being working in the company. They provide important trainings, programs, and sessions through which they used to maintain and motivate their employees towards a working and also what is the goals and the targets. GSK plc is a well-known leading company follows the hierarchical structures in order to motivate their employees in a timely manner. Functional structure:All such structure areas in which the topmost level of management is being positioned through the employees and also the information is being regulated and circulated by the higher level of authorities. It helps out to promote the nature and method through which it helps out to enhance the structural activities in which they provides the nature through which employees are reliable towards the working environment. Matrix structure:These are mainly the cross functional segments of areas in which the team used to work and manage the proper relationship in the working areas and also provide the adaptability of working sections. This maintains the nature and the working thorough which all the elements are being covered and the working structure is being implemented through the nature of working. With the help of PESTLE analysis elaborate external factors which affect performance of business. PESTLE analysis provides out the macro environmental factors through which the companies can identify the goals and targets as in context to GSK plc. It is being mentioned as follows: Political:These are mainly all the important governmental policy that are being laid out in order to maintain a stable environment conditions. GSK used to cover out all the government regulations through which they try to maintain all the new initiatives regarding the health factors which create a positive impact on their political factors and environment(Jastrzębska,2019). Economic:This mainly covers off the foreign exchange rate, inflation, recession and sales. GSK as in the time of COVID-19 has gained maximum turn over as people were
more focused about the healthcare opportunities end consumers also gained all such kind of vaccines that are being imported without any trade restrictions by GSK in their optimum selling price. Social:It mainly covers out all the important demographic changes that include graphical location, gender, age, educationand many more. The company is used to make the products according to the changes strategically. GSK used to focus on all the consumer healthcare programs and also create awareness and the medicine that are being required in the today’s time for the customers in various market segments. Technological:It mainly concerned with all the digital and the innovative advancement in the technology through which the mist medical research and development can be enhanced as for GSK they try to use optimum methods through which they circulate the medicine and all the platforms of commerce through which the research and development can be enhanced in transferable manner(Sawano, and et. al., 2020). Legal:It is concerned with all the laws and the legislation that are being made by the government. GSK try to serve worldwide and try to maintain all the health and safety laws that are important for consumers health and try to create and work with safety environment with patent law, IPR and all the important legal alternative are being taken by them for generating their sales and revenues. Environmental: It is mainly all the sustainable changes in the development regarding to the global issues led by the companies. GSK implements out all the healthcare facilities through which they used to increase their revenues and also try to reduce the carbon footprint and the pollution that can be raised through the business practises. They try to maintain digitalisation in order to reduce the emissions and also to promote the positive environmental impact on the society. CONCLUSION It is concluded from the above report that business is an important factor which helps out to promote the growth in the strategical approach through which the generation of products and revenues can be laid out. UK has various global market areas in segments that are considered of various companies like small, micro in large. Organisational structure use to provide the strategies that are being used by company in order to increase the growth and also to enhance
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their structural values and methods. Furthermore it can also be concluded that PESTLE analysis helps how to overcome the challenges and also to maintain the strategies in the external market approach. REFERENCE Geller, P., 2018. “Hudson’s Bay Company Indians”: Images of Native People and the Red River Pageant, 1920. In Dressing in Feathers (pp. 65-77). Routledge. Jastrzębska, A., 2019. The analysis and evaluation of a marketing strategy based on a selected production and trading company (Doctoral dissertation, KatedraSystemówZarządzania). Kumar, S. and Kumar, A., 2020. Dynamical structures of solitons and some new types of exact solutions for the (2+ 1)-dimensional DJKM equation using Lie symmetry analysis. Modern Physics Letters B, p.2150015. MMahmoud-Jouini and et. al., 2018. Key Factors in Building a Corporate Accelerator Capability: Developing an effective corporate accelerator requires close attention to the relationships between startups and the sponsoring company. Research-Technology Management, 61(4), pp.26-34. Rodrigues, and et.al., 2018. Third-party logistics continuous improvement through integrated fleet management: the case of a transport company. International Journal of Logistics Systems and Management, 31(1), pp.39-68. Sawano, and et. al., 2020. Pharmaceutical company payments to Japanese government drug regulation committee members. Clinical Pharmacology & Therapeutics, 108(5), pp.1049-1054. Sukoco, and et. al., 2020. Strategies to increase market share for histopathological equipment products (brand sakura): case study in a sole agent company. Sinergi: jurnalilmiahilmumanajemen, 10(2). Xiong, J. and Chen, J., 2019. A generative adversarial network model for simulating various types of human-induced loads. International Journal of Structural Stability and Dynamics, 19(08), p.1950092.