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How Business Operate

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Added on  2023-03-16

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This document provides an overview of how businesses operate, including the types of organizations in the public and private sector, different business structures, the impact of the economic environment, the importance of accounting for business success, the functions of the HR department, employment legislation, and more.

How Business Operate

   Added on 2023-03-16

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HOW BUSINESS OPERATE
How Business Operate_1
Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Types of organisation found in public and private sector in United Kingdom................1
1.2 Different structures within the businesses in United Kingdom........................................1
1.3 Impact of local and global economic environment on business operation.......................2
TASK 2............................................................................................................................................2
2.1 Importance of accounting for business success ...............................................................2
5.1 Different functions carried out by the HR department in a business...............................3
5.3 Key features of employment legislation...........................................................................3
TASK 3............................................................................................................................................3
3.1 Accounting workshop.......................................................................................................3
TASK 4............................................................................................................................................4
4.1 Analysis to determine your own and others’ roles within a team....................................4
4.2 Notes which can be used to support future training events.............................................5
4.3 Appropriate use of different motivational theories in business activities........................6
4.4 Impact of various leadership styles on employees...........................................................6
TASK 5............................................................................................................................................6
6.1 Impact of customer service on business success..............................................................6
6.2 Benefits of customer profiling to a business....................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8
How Business Operate_2
How Business Operate_3
INTRODUCTION
Internal and external factors of business environment create much impact on operations
of a company. These elements consists competitors, ethics, corporate social responsibilities,
stakeholders and more which demands a firm to create changes in operational activities (Amit,
and Zott, 2015). Along with this, if an association wants to move its business in other countries
then it needs to analyse factors like laws and legislations, political and economical activities. For
this assistance, a report has been prepared for TESCO Company, which entails its business
structure as well as how global factors affect its operations. This assignment has also consider
the types and structures of organisations which lie in public and private sector in a country like
United Kingdom. In addition to this, business functions and importance of departments like
HRM and Accountant highlighted with benefits of team work to run business operations in an
effective way.
TASK 1
1.1 Types of organisation found in public and private sector in United Kingdom
Organisations which come under control of government are consider as public and the
rest one under private (Reim, Parida and Örtqvist, 2015). Companies which come under these
sectors can be classified as:- Companies that included in private sector are divided on basis of
ownership like:-
Individual ownership: In this type of enterprises, business is run by owners on individual basis.
Partnership ownership: Business in this sector is divided among partners equally.
Institutions under public sector are divided on basis of control:
State Government: It is consider as most appropriate factor for companies in order to establish
their business.
Central Government: Companies under this category are fully controlled by national
government.
1.2 Different structures within the businesses in United Kingdom
In a country, various companies are run their business in own manner according to
different objectives. Therefore, all have different structures as seen below:-
Sole trader: These are incorporated organisation in which business is operated by an
individual. Departmental stores, Health & Safety Institutions and small companies are come
1
How Business Operate_4

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