How Business Operate

This presentation provides an overview of how businesses operate, including the classification of business based on public and private sectors, different types and structures of public and private sector organizations, and the impact of local, national, and global economic environments on businesses like TESCO. It also discusses the impact of customer service on business success and the benefits of customer profiling. The presentation concludes with recommendations and a summary of key points.

How Business Operate
(TASK 1 & 5)

Table of Content
 Introduction
 Classification of Business on the basis of Public and Private
Sectors
 Different types and structure of public and private sector
organisations
 Impact of local, national and global economic environment on
TESCO
 Impact of customer service on business success
 Benefits of customer profiling to a business
 Recommendation
 Conclusion

Introduction
Business environment can be stated as process in which there are
various internal and external factors which has direct impact on
the operations of company. There are various kind of factors
which are essential to introduce or innovate so that business can
attain growth. Various factors are human resource, finance, raw
materials and more.

Classification of Business on the basis of Public and
Private Sectors
There are companies within public sector which are being operated by the
business as per the needs and interests. This kind of sector mainly
includes the international and national companies which are like Social
and Health care, Law enforcements, stores and many more. The major
motive on which it works is the welfare of the society. These kind of
business are being operated by an individual as in these Govt. does not
interfere. These kind of companies wok with the motive of earning profit.
In public sector, there are number of companies which mainly work on
the basis of central and state ownership while the private companies are
classified as per partnership, sole proprietorship and joint stock.

Different types and structure of public and
private sector organisations
There are structures of the business within UK which are divided on
the basis of:
 Sole Proprietorship
 General Partnership
 Limited Partnership
 Corporations
 Non-Profit Corporation

Impact of local, national and global economic
environment on Walmart
Walmart company which was established within UK in 1962 and thus since
has been dealing in retail sector. There are about 11000 stores in about 30
countries which serves the product like fresh food, groceries, leisure and
clothing. There are operations which are being carried on domestic and
international level.

Impact of customer service on business success
This can be stated as a procedure of service where an organisation provides products and
services for high satisfaction. Hence, effectual services needs to be given by companies for the
consumers as they will be able to attain the high level of satisfaction which in turn can mainly
improve the bottom line of businesses. For running up of businesses, company like Walmart
needs to have high quality services. Moreover, it is highly essential to retain the old customers
in order to have high level of brand value.

Benefits of customer profiling to a
business
If percentage of retention is 5, then it is clear that it will bring
improvement within sales along with effective level of performance.
Along with this, customers should get efficient and effective services
and thus Walmart has mainly gained 60% of the high level of profit
rather then competitors. If there is high level of satisfaction within
customers, then this will help to increase the goodwill and thus mouth
publicity will promote company. Along with this, customers are being
retained along with product of the company for a long period of time.

Conclusion
From the above report, it has been concluded that there are some of
the environmental factors which needs to be evaluated so that
business can be operated in both private and public sector. This in
turn will help out in conduction of operations along with process.

REFERENCES
Weiss, J. W., 2014. Business ethics: A stakeholder and issues
management approach. Berrett-Koehler Publishers.
Bernstein, M. H., 2015. Regulating business by independent
commission. Princeton University Press.
Mackey, J. and Sisodia, R., 2014. Conscious capitalism, with a new
preface by the authors: Liberating the heroic spirit of business.
Harvard Business Review Press.

Thank You