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, impact of customer service, and benefits of customer retention.

How Business Operate
(TASK 1 & 5)

TABLE OF 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

INTRODUCTION
Business environment consists various internal and external factors which
impacts on operations of a company. In order to establish business
successfully a company needs to discover affect of these elements as well
as sources required in carrying out the operations. It includes finance,
human resource, raw materials and more. Therefore, in order to know how
an industry like Walmart operates its business a report has prepared.

Classification of business on the basis of public
and private sectors
Public companies are owned by government
which operates the business according to
needs and interests of whole. It includes
national and international industries like
Franchises, Health and Social Care,
Departmental stores, Law enforcements
and more.

Structures within the business of Public and Private
Companies
There are various types of structure within business industry. Structures of
the business of companies in UK are divided on the basis of:
 Sole Proprietorship
 General Partnership
 Limited Partnership
 Corporations
 Non-Profit corporations

Implications on business at local, national and
global economic environment
Walmart Company of UK has established its business in 1962 in retailing
sector. It has 11,718 stores in 28 countries which serves the products like
fresh food, groceries, leisure and clothing. It operates the business within
international market.
 Economic Policy
 Legal changes

Impact of customer Service
It is a procedure of service that a company
used to provide customers for ensuring
their satisfaction towards products.
Therefore, industries are needed to
provide good service to consumers as if
they receive high satisfaction then it will
improve bottom line of business.

Benefits of customer retention
If industries receives 5% of retention of people then it will lead enhancing
their sales performance up to 125%. In addition to this, due to providing
effective services to customers, Walmart has gained 60% much higher
profit than its competitors.

CONCLUSION
From this report it has evaluated that in order to operate business
whether in public or private sector, a company needs to evaluate the
impact of some factors of environment. This would help in running
the business successful in proper manner. Employers of associations
are required to evaluate needs of people.

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!