How Business Operate

This presentation explores the types of organizations in public and private sectors, different business structures, impact of economic environment, customer service, and benefits of customer profiling. It focuses on the case study of Morrisons, a renowned retail store in the UK.

HOW BUSINESS
OPERATE
Task 1 & 5)

TABLE OF CONTENT
Introduction
Types of organization found in public and private sector
Different structures within the business
Impact of local and global economic environment
Impact of customer service on business success
Benefits of customer profiling to a business
Conclusion
References

INTRODUCTION
Business environment includes both external and internal factor
that can affect the firm in operating their business. This
includes elements like suppliers, latest technologies, laws and
legislation, market and social environment and many more.
Therefore, it is important that organisation should consider all
the aspect for running their business in an effective manner.
Company that has been taken in this is Morrisons.

Types of organisation found in public and private sector
Companies that comes under private sector are not majorly under
control of government or ownership but sometimes they can
collaborate with governmental body so as to deliver appropriate
stuff to its end customers. Whereas public are owned and operated
by regulatory bodies for the betterment of the citizens. Companies
that included in private sector are classified into two i.e.
individual ownership: it is considered as the oldest and simplest
form in business organisation.

Different structures within the businesses
There as various kind of structures and it differs form country to country.
Sole trader: This is considered as an incorporated organisation that is
owned by a single person.
Partnership: This includes two or more owners who merge or collaborate
with their own concern so as to get maximum benefits from the market
area.

Limited liability company: This concept was first proposed in the year 1977,
under this the LLC merge the element of corporation with other partnership or
sole business owner.

Impact of local and global economic environment
There are many factors that affect the business environment internally or
externally. It is important that organisation follows all the elements that can
hinder their business operations. Economic environment should be
considered as an important factor because it helps an organisation in
fulfilling the demands and needs of a company. This will enable them in
providing all the goods and commodities right on time.

Impact of customer service on business success
It is prime duty of administration that they train their employees effectively so
that they can deliver the products as per the needs and wants of customers.
Morrison is a renowned retail store in United Kingdom. For making their
workers eligible they are providing proper training programmes through
which employees can enhance their skills and knowledge.

Impact of customer service on business success
It is prime duty of administration that they train their employees effectively so
that they can deliver the products as per the needs and wants of customers.
Morrison is a renowned retail store in United Kingdom. For making their
workers eligible they are providing proper training programmes through
which employees can enhance their skills and knowledge.

Benefits of customer profiling to a business
For attaining maximum benefits, Morrison is using latest tools and
technologies which is helping them in manufacturing goods as per the
needs and demands of consumers. Therefore, it is important that
company is taking feedbacks and reviews so as to to produce products
according to the demands of clients. This is gradually increasing the sales
and profitability of the organisation.

CONCLUSION
Form the above report it has been concluded that to operate a business it
is necessary that companies consider various factors through which
they can attain their set targets. It includes different motivational
theories and leadership styles so as to encourage and guide
employees respectively. This will assist them sustaining a better
position at market area for a longer period of time.

REFERENCES
Charter, M. ed., 2017. Greener marketing: A responsible approach to business.
Routledge.
Sekaran, U. and Bougie, R., 2016. Research methods for business: A skill building
approach. John Wiley & Sons.

Thank You!