Different Business Structures - Assignment
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Added on 2020-11-12
Different Business Structures - Assignment
Added on 2020-11-12
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HOW BUSINESSOPERATES
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1) Organizations in private and public sectors-........................................................................11.2) Different business structures- .............................................................................................11.3) Economic environment impact on TESCO-........................................................................2TASK 2............................................................................................................................................32.1) Importance of accounting- ..................................................................................................3HR department functions............................................................................................................32.3) Features of employment legislation.....................................................................................4TASK 3............................................................................................................................................4a) Information on profit and loss account ..................................................................................4TASK 4............................................................................................................................................64.1) Work as a team leader..........................................................................................................64.2) I) Team development stages................................................................................................6TASK 5............................................................................................................................................75.1) Customer service impact......................................................................................................7CONCLUSION................................................................................................................................8
INTRODUCTIONAn organization is that place where goods and services exchange for money and foranother. Organizations or business are two types- private sector and second is public sector.TESCO is a private sector organization of UK who provide online groceries, banking etc.(Cramer, 2017) Firstly report will discus about types of organization and business structures andimpact of local, national and global environments. After this explanation importance ofaccounting and HR functions and features of employment legislation will discuss. Next stepexplain profit and loss account. Another step explain stage of team development, motivationtheories and leadership style. And in the last describe the customer service impact and benefits ofcustomer profiling.TASK 11.1) Organizations in private and public sectors-Covered in pptTASK 22.1) Importance of accounting Accounting is necessary for business for many reasons. Government requires report offinancial data for the tax. Accounting is more important for business organization.Planning Budget- Budget is an important factor of business. Budget planning helporganization to form strategies, money saving and focusing any extra expenditure ofbudget amount (Leipziger, 2017). All documents must be available and properlymaintained since they are under planning and budgeting. Banks and Lenders- To get any financial help from banks, business must be ready topresent its yearly financial status in well manner. Business must have its profits recodes,assets and liabilities, tax return papers etc. Keeping Records- To run a smooth business, organization needs to keep its all records.Accounting plays an important role in records keeping. Decision Making- All economical decisions of organization depends on its financialstatement. Without maintained accounting statement organization cannot take a strongdecision.HR department functionsHR plays an important role in every business. Functions of HR are below-1
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