Business in Practice

Business in Practice

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Section 1.........................................................................................................................................1
Micro business, small business, medium size business and large size business..........1
Section 2.........................................................................................................................................2
Sole trader business, partnership, limited liability business, public limited liability
business and Cooperative.......................................................................................................2
Section 3.........................................................................................................................................4
Organisational structures and its affects on business productivity.................................4
PESTLE analysis......................................................................................................................5
CONCLUSION...............................................................................................................................6
REFERENCES..............................................................................................................................7

INTRODUCTION
There are different practices of business which needs to be performed in effective
and significant manner. Business refer as the place which includes different employees
who are working to attain ultimate goal of organisation. There are different business in
market area which are conducting its practices and task in order to accomplish desired
goals (Fernández, Valle and Pérez-Bustamante, 2020). This report is based on Marks
and Spencer company. This is British organisation which is conducting its business
operations in different part of the world. Marks and Spencer is dealing in retail sector
and it is offering clothing, food and home products. This company was established by
Michael Marks and Thomas Spencer in year 1884. Head office of Marks and Spencer
company is located in London, United Kingdom. This report includes micro business,
small business, medium and large business. It consist characteristics of sole trader
business, partnership, limited liability business, public limited liability business and
Cooperative. Apart from this, organisational structure has been analysed as well as
PESTEL model is also mentioned in this report.
MAIN BODY
Section 1
Micro business, small business, medium size business and large size business.
 Micro business – Micro business is consider as the newest trend in market area
and it includes few employees which are responsible for conducting different
activities and task of business. This type of business in operating its practices in
less than 5 to 10 employees (Brennan, Canning and McDowell, 2020). Micro
business is providing its products or services to very limited market area and
motive of this type of organisation is to meet with basic requirements. For
example, Etsy owners, freelance graphic designers or home based business.
1