Business Practices and Legal Entities: A Study on Organizational Structure and External Factors

BUSINESS IN PACTICES

Table of Contents
INTRODUCTION...........................................................................................................................4
MAIN BODY..................................................................................................................................4
TASK 1............................................................................................................................................4
MICRO business:.........................................................................................................................4
Small Size business:....................................................................................................................5
Medium size business:.................................................................................................................5
Large Size business:....................................................................................................................5
TASK 2............................................................................................................................................6
Different companies such as sole trades, cooperatives or limited liability partnership...............6
Sole trader business.....................................................................................................................6
Partnership:..................................................................................................................................6
Limited Liability:.........................................................................................................................6
Public limited liability business...................................................................................................7
Cooperative:.................................................................................................................................7
TASK 3............................................................................................................................................7
Organizational structure and external factors..............................................................................7
The performance of a business organisation is influenced by external variables........................8
CONCLUSION................................................................................................................................9
REFRENCES...................................................................................................................................9
Books and Journal........................................................................................................................9

INTRODUCTION
Business practices and activities are the kind of set of guidelines ideas and ethics which
represent the efficient course of activities in a given business situation. The amended and
effective practices may be formulated by the authorities like regulators or governing bodies so
that they can manage the organization team internally (Abeyrathna and Kalainathan, 2016). This
report will going to explain about the different kinds of organization and their legal entities. In
addition to this, this report also going to analyze different internal and external factors which
create impact on the organization. Along with this, this report also described about the sole
traders business partnership limited liability business and public limited liability business in
cooperative. This report also going to describe the different business structure and how external
factors create impact on the business.
MAIN BODY
TASK 1
Organization and companies can be described cotton two characteristics which is legal
structure and size of the company. According to the size there are various kind of organization
which are generally measured and evaluated by the support of number of the workers and their
investment and turnover in the organization. The classification of every kind of organization at
based on size which is mentioned below:
MICRO business:
Micro businesses are often characterized as tiny businesses with fewer than nine workers and a
balance sheet or yearly turnover below a certain threshold. Micro businesses vary from small
businesses in that they operate on a much smaller scale. As a result, they may face a variety of
problems and obstacles. Companies of this nature have fewer assets and less market monetary
stability(Aljayi, Guennioui and Tamek, 2016)
.
Characteristics of micro business: