Types of Business, Organizational Structure, Business Functions and Organizational Culture

ESSAY

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Definition and advantages and disadvantages of different types of business.............................3
Comparing and contrasting tall and flat structure.......................................................................4
Discussing different business functions and their impact on organization.................................5
Defining organizational culture and positive culture impact on organization............................6
CONLUSION..................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Business entity is termed as the entity that is formed in order to earn the profit by having the
selling and rendering of services. This report will outline the definition, advantages and
disadvantages of the different types of business. Further this report will outline the comparison
between the tall and flat structure of the organization by using the tourism and hospitality
examples. This report will also outline the different business functions and their impact on the
functional management of the organization. moreover this report will also put focus on the
organizational culture and the positive culture impact on the organization.
MAIN BODY
Definition and advantages and disadvantages of different types of business
Sole trader: The sole trader is the single owner of the business that is also known as sole
proprietorship. This is one of the easy business structures to be set up as less capital is required
by the person (Koudelková, 2020). The single person used to run and own the overall
functioning of the business. The profits earned by the person are kept by him as he is the single
owner of the business.
Advantages Disadvantages
 All profits are kept by the single
person.
 Registration is simple and easy.
 Complete control by individual
(Jones and Talbott, 2021).
 The liability is unlimited as single
owner is there.
 Less capacity to raise the capital.
 All the responsibility is on
individual.
Partnership firm: The partnership business refers to the business which used to consist
of two or more than two person who used to pool their resources together and agrees to
share the risk, loses and profits (Gavin and et.al., 2018). This is one of the best business
types as the funds are pooled by many individuals which help to raise the capital in the firm.
This is easy to establish the partnership firm and more capital is available.
Advantages Disadvantages