Different Types of Business and Organizational Structures: A Study

Business in Practice

Table of Contents
INTRODUCTION ..........................................................................................................................3
SECTION 1......................................................................................................................................3
What is the definition, characteristics and illustrate about micro, small, medium and lage
business entity.............................................................................................................................3
SECTION 2 .....................................................................................................................................4
What is the Definition, characteristics and example of sole trader business, partnership,
limited liability business, public limited liability business and Cooperative..............................4
SECTION 3......................................................................................................................................7
Identify different organisational structures and explain how organisational structure affects
business productivity...................................................................................................................7
CONCLUSION ...............................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
An enterprise which is engaged in commercial, industrial activities. It is done for the
purpose of generating profits from the market. Many practices can be performed by these
business enterprises to attain their objective. Foremost goal is to attain the earn profits from their
customers and secondary is to satisfy them by their products or services. Many rules should be
made for the effective functioning of the organisation (Basco and Suwala, 2020). In this report, it
will be discussed about different types of business with respect to their size and liability. Lastly,
it is analysed about the external factors that effects the organisations functions of Sainsbury.
SECTION 1
What is the definition, characteristics and illustrate about micro, small, medium and lage
business entity.
Micro Business organisation: This kind of business organisation has employed 10
people. This kind of company is very small n nature which aids the individual to full fill their
basic needs of livelihood.
Characteristics
 Turnover of these kinds of organisations are not exceeding £632,000.
 They have employed 10 people. Their yearly sale is less than £1,400,000 [Types of Business according to size].
Illustration: Boss Brewing Company, Castle Hill Fire Protection Ltd. And many more.
Small Business: In this firm they has a workforce of not exceeding 50 persons and not
less than 10 heads. They are also working to satisfy their own needs and wants.
Characteristics
 Yearly turnover is less than £10 million but more than £2 million.
 Yearly sale of the organisation shall be between £1,400,000 and £7,000,000 [Types of
Business according to size]. They have the limited access of their business.
Illustration: Child care places, coaching classes, Cafes Salons and many more.
Medium size Business: These enterprise is also called as Mid-Market. It is the
organisation which has the work force of not exceeding 250 people but at least 50 individuals.
Their turnover is under £50 million.