How Business Operate

This presentation provides an overview of how businesses operate, including the classification of business based on public and private sectors, structures within public and private companies, implications on the local, national, and global economic environment, and the impact of customer service and retention. The presentation focuses on the case of Walmart, a popular retail store in the UK.

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How Business Operate
(TASK 1 & 5)

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COVERED CONTENT
 Introduction
 Classification of business on the basis of public and
private sectors
 Structures within the business of Public and Private
Companies
 Implications on business at local, national and global
economic environment
 Impact of customer Service
 Benefits of customer retention
 Conclusion
 References

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INTRODUCTION
Every organisation exist in environment which consists internal and
external components which directly or indirectly influence on
business operations. Management require to utilise funds, material
and manpower so that items and services are delivered in according
to needs and wants of public. Firm includes human resource,
finance, production, marketing and R&D units which help
administration to accomplish goals and objectives timely. Present
report is based on Walmart which is popular retail store established
in UK.

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Type of business on the basis of private and public
Private sector includes corporations which are started by individuals to utilise
funds and conduct business operations so that appropriate profit is
generated.
Sole trader: This kind of organisation are owned and operated by particular
individual. Small retail shops, musicians and so on are various firms which
are executed by proprietor to deliver appropriate things and generate
adequate profit from business.

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Partnership: It is form of firms which are started by people which comes
together and sign legal agreement. Individuals collaborate and merge to
utilise funds and skills, so that business operations are executed
appropriately. Profit or loss is divided among business persons on basis of
their share in firm.
Limited liability company: This include corporations which are either merged
by sole trader or by partnership firm. In this, executive don't have
responsibility of debts and liabilities; thereby they require to conduct
operations and use funds adequately.

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Different structures of business
Organisation consists various forms of structure which vary from one nation
to another. Organisations which are constituent of private sector are stated
below:
Individual ownership: This is oldest kind of enterprises which are started by
single persons. Thus, authorities have powers to conduct decision-making
and other activities. Along this, they are solely responsible for profit or
losses which occur from business.
Voluntary organisation: This form of firms are established by more than one
person which comes into agreement to accomplish goals and objectives.

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Organisations that are part of public sector are described beneath:
State ownership: This include firms which are established by
government to improve state of economy and execute businesses for
development of modern industries in marketplace.
Central government: This specifies corporations which are constituted
by regulatory bodies for welfare of society. NGOs are part of this
form which conduct activities to deliver appropriate items and
services in respect to needs and wants of public.

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Implications on business on global
economic environment
Business environment consists internal and external factors which directly or
indirectly impact on operations. Management require to have complete
information about market conditions and system capabilities, so that
business activities are executed appropriately in both domestic and
international market. In context of Walmart, is a retail store which provide
fresh food, groceries and clothing to public to purchase things as per their
taste and preferences. Administration formulate policies and tactics in
according to taxation, exchange and interest rates of UK.

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Impact of customer Service
Walmart is a retail store require to provide different variety of items in
respect to needs and wants of people. Along this, management
require to implement latest tools and techniques in system so that
quality services are delivered to customers. Latest technologies are
used by members for quick payment and proper recording of
information. People will visit store again only if they get appropriate
services and items in according to competitors. This help
administration to grab attention of large number of customers and
enhance sales. Thus, company's profitability improves and market
position and goodwill also enhances.

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Benefits of customer Service
Customer profiling defines that with help of computer and internet,
management is able to keep accurate data about customers,
employees and inventory. These are various advantages that
Walmart have if this tactic is used is enhance sales and profit.

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CONCLUSION
As per above report, it can be comprehended that administration considers
internal and external factors such as government, shareholders, employees,
suppliers, technology and competitors while designing system.
Management uses motivation theories and leadership styles to increase
morale of employees and inspire them towards job. This help superiors to
make staff members perform tasks effectively and attain targets timely.
Along this, company deliver quality products and services which help
members to retain customers for longer period; thereby enhance sales and
profitability.

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REFERENCES
 Gassmann, O., Frankenberger, K. and Csik, M., 2014. The business model
navigator: 55 models that will revolutionise your business. Pearson UK.
 Omar, A.T., Leach, D. and March, J., 2014. Collaboration between
nonprofit and business sectors: A framework to guide strategy
development for nonprofit organizations. VOLUNTAS: International
Journal of Voluntary and Nonprofit Organizations. 25(3). pp.657-678.
 Palattella, M. R., and et. al., 2016. Internet of things in the 5G era:
Enablers, architecture, and business models. IEEE Journal on Selected
Areas in Communications. 34(3). pp.510-527.

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Thank You!