Types of Business Organisations for Reorganising IOM Solutions

This article discusses the case of IOM Solutions, a big IT firm, and the need for it to expand its activities in the international arena. It analyzes the various types of business organisations available for reorganising IOM Solutions, their legal consequences, and recommendations for selecting the right type of organisation and strategy. The article also emphasizes the importance of top-level and strategic management in achieving effective growth in a corporation.

Business Organisations

Contents
Contents...........................................................................................................................................2
INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................1
Analysis of the case.....................................................................................................................1
Types of business organisations that are available for reorganising IOM solutions...................1
Legal consequences of different types of business......................................................................3
Recommendation for selecting the right type of organisation and strategy................................4
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
There are many distinct sorts of business organisations in a country's economy that
operate according to certain norms and regulations. The development of main operations in
accordance with the type and nature of the business is a primary emphasis of a business. A
business's focus on the development of important objectives with the backing of a plan to create
main operations is also a crucial responsibility (Horelli, 2018). In this research, there is a case
study about IOM Solutions, a big IT firm. This business is now looking for the finest available
chance to extend its activities in the marketplace. This project entails a quick examination of the
many types of organisations that exist in the marketplace and how they function in an economy.
The paper also includes suggestions and recommendations for a company's development of
market-focused operations.
MAIN BODY
Analysis of the case
It is stated in the case that IOM Solutions has been providing IT services to several
companies for a long time. For the past eight years, the organisation has been conducting legal
business in order to grow and undertake vital activities in the marketplace. In order to attain key
organisational goals, the corporation must now expand its activities in the international arena. It
is critical for IOM solutions to choose a significant path of business development in order to
develop the growth of various operations. The development of a targeted plan for business
growth in a short period of time is a critical job of a business.
Types of business organisations that are available for reorganising IOM solutions
IOM Solutions should establish a core approach for developing its operations in the global
and domestic markets. The formulation of a targeted strategy and approach is adopted by the
majority of successful worldwide companies. The following are the many sorts of business
organisations that can be used to reorganise IOM solutions:
Sole proprietorship: In a sole trader business, a single person manages the company and is
also accountable for losses. With the support of a specialised approach, the solo trader also
shares the risk connected with various businesses (Makgopa, 2021). In comparison to other
forms of enterprises, the capital invested in a lone trader business is quite little. The development
and operation of single trader-based businesses is an essential business choice for IOM solution.
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This is a sort of business that allows a company to focus on small-scale operations while
assuming minimal risk.
Company: The firm is a separate legal commercial entity that conducts economic operations
in the market. By forming a distinct legal corporate company, IOM solution can increase its
operations. All huge corporations demand significant investments in the marketplace, as well as
a high level of attention and focus on various operations (Ledwaba and Pelser, 2020). In order to
carry out large operations, all major organisations in the worldwide marketplace develop a focus
on risk management. The company is also a large organisation that requires competent and
skilled management to ensure that operations run smoothly.
Partnership: A key sort of company is a partnership, which entails an agreement between
two or more people to create business operations. In order to grow in the marketplace, the
partnership shares a large portion of the earnings and loss. This also entails the implementation
of significant functions in order to share the business's risk (Wijethilake and Lama, 2019). Major
business actions in a well-defined manner for business growth and expansion are also included in
a partnership. IOM should seek the advice of a skilled business counsellor in order to create
substantial operations relating to partnerships. The organisation should also concentrate on
achieving important goals and objectives that are necessary for focused growth.
Co-operative societies: It is possible to use cooperative society-based operations in the
operation of a firm. Cooperative societies are founded for the purpose of adopting business
practises that are essential for focused growth. IOM solutions can also go social in the corporate
sphere to do business in a unique way (Nurdin and Yusuf, 2020). This type of business is critical
in the development of corporate social responsibility guidelines. For targeted expansion, it is also
a critical function of a business organisation to conduct activities in accordance with corporate
social responsibility.
Merger: The company can grow by combining with other businesses to enhance its market
reach. It is critical for the company to concentrate on collaborating with other organisations in
order to increase the number of personnel involved in business activities. The blending of diverse
organisations' techniques results in the emergence of a new culture (Chrysos-Anestis and et al.,
2021). All significant corporations should place a strong emphasis on understanding the value of
mergers and developing an internal environment that supports them. In order to merge with other
companies in the marketplace, the IOM solution will require a professional strategy. In order to
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merge with a distinct corporate entity, a business organization's focus should be on completing
operations under strict supervision and control.
Acquisition: This is one of the most important options for IOM solutions to perform in the
marketplace. Acquisition approaches allow for a significant expansion of corporate functions in a
precise manner. In this technique, a corporation's primary duty is to entirely acquire a new
company. This brings together and develops all of the company's primary activities and duties in
order to run operations smoothly (Maduka and et al., 2018). A company entity's acquisition
tactics should be designed in accordance with the marketplace's dynamic environment.
Management bears a significant amount of responsibility in acquisition when it comes to
selecting functions that meet the needs of the company.
Acquisition tactics can also help a business grow its market share and strength. Existing
business organisations are acquired by a company using this strategy, which involves a
significant financial investment. IOM solutions can also purchase a current business and carry
out operations with precision. Following the acquisition of a corporate entity, the corporation
should concentrate on developing key business criteria (Dahiya and Rangnekar, 2020). Although
there is a high danger of acquisition because the change is achieved over a long period of time. It
is the most important role of a firm's management to focus on long- and short-term goals after
purchasing another company. Many various corporations buy multinational companies on the
open market and run their operations accordingly.
Legal consequences of different types of business
With the support of a targeted plan and approach, a corporate entity might develop and
face legal implications. The legal ramifications also present a clear set of obstacles for a
company in the marketplace. With the help of competent strategic and legal management, all
large companies in the global marketplace tackle the legal issues that come with doing business.
The key legal advantage of operating as a lone trader is that it requires less legal formalities.
Also, with the support of an efficient legal department, the legal procedure related with the firm
should be developed (Mutamimah and et al., 2021). A corporation can also hire professional and
trained legal consultants that can help the organisation develop its focus on legal procedure
development.
All of the world's top corporations strive to build legal operations in a precise manner that
allows them to be ethical. In order to do ethical business, it is also the moral responsibility of a
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company's management to respect UK employment legislation (van Kemenade and Hardjono,
2018). It is critical for the corporation to build a key planning framework in order to tackle the
legal ramifications in a precise manner. In a large sense, the risk and legal ramifications of
marketing in a global business environment are also apparent. It is critical for the company to
take swift action in order to progress the development of all important businesses (Komor and
Godlewska-Majkowska, 2020).
It is also critical for the company to develop a substantial strategy for dealing with various
forms of legal issues. IOM provides solutions to current employment rules relating to equity and
workplace safety. There are key legal requirements that must be completed by a corporate entity
in order to succeed in the international marketplace (Nwaiwu, 2018). It is also critical to conduct
ethical business in collaboration so that large activities can be legally developed. In order to
build honest business practises, all organisations in the worldwide marketplace focus on
government legal rules. The major focus of a business is on important development-based
approaches that are implemented in an advanced manner for the company's systematic
development.
Recommendation for selecting the right type of organisation and strategy
Following the selection of the appropriate organisational type, the company must design a
focused business strategy. In the worldwide and national marketplaces, IOM solutions should
choose the merger option, according to the above-mentioned analysis. This will make it easier
for the organisation to start operating legally in a short amount of time. The formulation of the
appropriate business plan after a merger will also aid in the establishment of a focused and well-
organized organisational culture. It is strongly advised that IOM solutions use the merging option
to reduce the risk connected with operations.
In order to make its personnel more competitive in the marketplace, the organisation should
also focus on change management. The appropriate form of organisation and strategy will also
aid the company in focusing on major goals established at the start of the fiscal year. In the
international market, all major corporations should recognise the importance of corporate social
responsibility. If the company opts for mergers, it will be able to concentrate on crucial
components of strategic management in order to develop an accurate plan.
In order to undertake large legal processes online, the corporation needs also focus on
information and technological development. In order to deal with change after a merger, a
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business organisation should build a variety of universally accepted change management models.
It is critical for the corporation to use legal policy to achieve a competitive edge in a short period
of time. For efficient operations and functions, IOM solutions should merge with organisations
that have a solid name and goodwill in the worldwide marketplace. With the support of the legal
strategy developed by the board of directors, the corporation should also develop a main focus on
all business operations. It is necessary for a business enterprise to pick the proper path and
strategy in order to boost its effectiveness and efficiency.
A company's main focus should be on legal procedures that are developed with the help of
various operations. Top-level management should establish the legal policy framework, with a
strong emphasis on goals and objectives. In order to get better results, the company's legal
strategy should be implemented with effective monitoring and management. In order to
maximise profitability, a company organization's major focus is on important areas of legal
development. A corporation can build a focused and important approach with the support of a
legal policy framework, which is advantageous in enhancing total corporate strength. In order to
form a different legal corporate entity, all companies in the global marketplace combine with one
another.
CONCLUSION
From the above-mentioned information, it is concluded that various commercial
organisations exist to meet the demands of an economy. The preceding talk emphasises the
necessity of building and selecting the correct type of business to explore various options. This
project concludes the importance of top-level and strategic management in achieving effective
growth in a corporation. The impact of many business elements present in the external and
internal environment is also concluded in the aforementioned analysis.
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REFERENCES
Books and Journals
Chrysos-Anestis, A and et al., 2021. Sensitivity of Greek Organisations in Sustainability
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Dahiya, R. and Rangnekar, S., 2020. Relationship between forgiveness at work and life
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Horelli, L., 2018. Young People’s Participation in Local Development: Lip Service or Serious
Business?. In Youth, citizenship and Empowerment (pp. 57-71). Routledge.
Komor, A. and Godlewska-Majkowska, H., 2020. The role of intelligent organisations in
creating favourable conditions for the development of entrepreneurship.
Ledwaba, N.F. and Pelser, G.P.J., 2020. The use of e-technology in operational processes of
organisations in Polokwane Municipality. International Conference on Public
Administration and Development Alternative (IPADA).
Maduka, N.S and et al., 2018. Analysis of competencies for effective virtual team leadership in
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Mutamimah, M and et al., 2021. ICT-based collaborative framework for improving the
performance of zakat management organisations in Indonesia. Journal of Islamic
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Nurdin, N. and Yusuf, K., 2020. Knowledge management lifecycle in Islamic bank: the case of
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Nwaiwu, F., 2018. Review and comparison of conceptual frameworks on digital business
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Wijethilake, C. and Lama, T., 2019. Sustainability core values and sustainability risk
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