How Business Operates

How Business Operates
TASK 1

INTRODUCTION
Business can be defined with those activities which are
performed by individuals or group of persons with objective of
achieving business gains and another reason is to gain
sustainability and growth. It is required by business to fulfil all
the legislation requirements. In order to carry the business
smoothly and achieve the desired objectives all internal and
external factors must be considered while policy making and
decision-making process

Types of organisations found in the
public and private sectors in UK
In UK, business can perform their business activities majorly either as a
Public sector organization or Private sector organization. Below given are
various type of organisation and their sub-types:
Private organisation : Those business organisation which are controlled
and operated by single person or group of persons with primary objective of
gaining profits and sustain in the marketplace. The capital and funds for
these types of businesses are brought by private individuals or groups and
same cannot be traded publicly. For e.g. Dell, Microsoft etc. Some of the
private types of firms are as mentioned below:

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Partnership: organisation formed
by group of persons with their
mutual consent and agreement. Each
person forming part of partnership
contributes capital to the firm to
carry on business activities

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Sole trader: This type of business firm
is operated and regulated by a single
person and he is the sole owner and
capital contributor of the business.
Owners of these organisation are
responsible for organisational working
and to manage profitability as well. For
e.g. Retail stores.

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Public limited company (PLC): These firms are also owned by a
single or a group of individuals in which they also called
stakeholders. These are formed under the UK company law and
jurisdictions.