Business In Practice

Business In Practice

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Section 1: Various kinds of industries and how they work....................................................3
Section 2: Various organisations from sole trader to cooperatives and limited liability
partnership..............................................................................................................................4
Section 3: Different business structure and external factors are affecting business...............6
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................1

INTRODUCTION
A business is referred as a company and enterprising based entity which is engaged in the
commercial, manufacturing, as well professional activities or tasks. The word "business" is also
defines to the prepared efforts or business tasks of an individual’s to create or sell out the
products or services for revenue. Business are enhance the life quality in two manner. Firstly, it
gives the high-quality based products as well service to customers needed for their pleasure,
calm, comfort and health. Secondly, the corporation provides more employment opportunities to
people who have need by which people can get income or improve the life quality. The Business
in the Practice component is a main capstone concept for students from level of “Business” one
year of masters based courses (Basco, Calabrò and Campopiano, 2019). It is the double based
weighted model trained over an concentrated two week time. The below report includes the
different types of companies and how they perform. Different industries from sole trader to
cooperative and limited liability partnership. Diverse business framework and external factors
that are affect the business.
MAIN BODY
Section 1: Various kinds of industries and how they work
Micro business
This type of business is the kind of small based business which employs less than 10
candidates. Size or range are key difference between the a micro or small business, micro based
businesses frequently purpose as a only proprietorships as well revenue is less than the $250,000
per annum. This is essential because they give better opportunities for potential entrepreneurs or
make significant jobs along with higher rate of job pleasure than the position with huge,
traditional industries. They promote home economies, keep capital close to local and helping
neighbourhoods or societies.
Small business
These are the privately owned based business, partnerships, and the sole proprietorships that
have less staff or minimum annual profit than the regular-sized based corporation or business
(Brennan, Canning and McDowell, 2020). Small businesses are contribute to