Report on How Business Operate - Morrisons
Added on 2020-06-04
11 Pages3039 Words83 Views
HOW BUSINESS OPERATE
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Types of organisation found in public and private sector in United Kingdom.....................11.2 Different structures within the businesses in United Kingdom............................................21.3 Impact of local and global economic environment on business operation...........................2TASK 2............................................................................................................................................32.1 Importance of accounting for business success ...................................................................35.1 Different functions carried out by the HR department in a business....................................35.3 Key features of employment legislation...............................................................................4TASK 3............................................................................................................................................43.1 Information on the profit and loss account...........................................................................4TASK 4............................................................................................................................................54.1 Analysis to determine your own and others’ roles within a team.........................................54.2 Notes which can be used to support future training events..................................................54.3 Appropriate use of different motivational theories in business activities.............................64.4 Impact of various leadership styles on employees................................................................7TASK 4............................................................................................................................................76.1 Impact of customer service on business success...................................................................76.2 Benefits of customer profiling to a business.........................................................................7CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
INTRODUCTIONBusiness environment includes both external and internal factor that can affect the firm inconducting their business. This includes elements like suppliers, latest technologies, laws andlegislation, market and social environment and many more (Charter, 2017). Therefore, it isimportant that organisation should consider all the aspect for running their business in aneffective manner. Company that has been taken in this is Morrisons. This report will throw lighton types and structures of public and private sector in United Kingdom. Business functions arealso included in this assignment. Other than this, benefits of team work is mentioned in thisreport. TASK 11.1 Types of organisation found in public and private sector in United KingdomCompanies that comes under private sector are not majorly under control of governmentor ownership but sometimes they can collaborate with governmental body so as to deliverappropriate stuff to its end customers. Whereas public are owned and operated by regulatorybodies for the betterment of the citizens. Companies that included in private sector are classifiedinto two i.e. INDIVIDUAL OWNERSHIP: It is considered as the oldest and simplest form in businessorganisation. Solely the person is only responsible for any losses or profits (Sekaran and Bougie,2016). PARTNERSHIP ORGANISATION: under this, the risk are high and companies have limitedfinancial resources. Organisations that comes under public sector includes: STATE OWNERSHIP: it is determined as one of the suitable factor for establishing anddeveloping business according to the modern industries. CENTRAL GOVERNMENT: companies that comes under this are fully controlled by theregulatory bodies of the nation. Therefore, different sectors plays an their role according to the market situations so thatthey can help the country in increasing their GDP and national income (Shenkar, Luo and Chi,2014). 1
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