How does business operate in UK? Interpretation 2 TASK 3 5 3.1 Interpretation 2 TASK 3 5 3.1 Interpretation 2 TASK 3 5 3.1 Interpretation 2 TASK 3 5 3.1 Interpretation 2 TASK 3 5 3.1 Interpretation 2
Added on 2020-07-23
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HOW BUSINESS OPERATES
Table of ContentsINTRODUCTION.......................................................................................................................................2TASK 1.......................................................................................................................................................31.1 Different types of public and private organization in UK..................................................................31.2 Different structures within businesses and reason for variation.........................................................31.3 Impact of local and global economic environment on selected business...........................................4TASK 2.......................................................................................................................................................42.1 Importance of accounting for business concern.................................................................................45.1 Functions of HR department in business...........................................................................................55.3 Key features of employment legislations...........................................................................................5TASK 3.......................................................................................................................................................53.1 Interpret the information displayed on profit and loss account..........................................................5TASK 4.......................................................................................................................................................64.1 Self roles and others in team..............................................................................................................64.2 Describe aspects that support future training events..........................................................................64.3 appropriate use of different motivational theories in business activities............................................64.4 impact of various leadership styles on employees.............................................................................6TASK 5.......................................................................................................................................................76.1 Impact of customer service on business success................................................................................76.2 Benefits of customer profiling to business.........................................................................................7CONCLUSION..........................................................................................................................................7REFERENCES..........................................................................................................................................7
INTRODUCTIONBusiness play a vital role in the environment where it is operating which is of dynamic nnature. There are number of changes that are taking place and has to be evaluated in order toaccomplish final goals in set time period. The company included in this report is Hotel Hiltonthat belongs to hospitality sector and operates in many part of the world. The assignment focuseson different types of business organizations present in corporate world as well as importance ofaccounting system. Apart from it, there are number of functions played by the HR department inbusiness.TASK 11.1 Different types of public and private organization in UKThere are number of companies in UK, both private and public, and objectives of each ofthem are different from other companies. On one hand, there are public companies whoseobjective is to serve the public and to offer them best quality products and services withoutdiscriminating amongst society. The prime objective of these companies is to swerve the peopleand not to earn the profit. Some of public associations are described as follows:- Royal Dutch Shell Gamma CommunicationsBritish Petroleum On the other hand, there are private companies whose prime objective is to earn and maximize its profits by satisfying the customer needs in the most effective manner. To serve the general public is its secondary objective (Shenkar, Luo and Chi, 2014). Private companies, due to immense competition existing in themarket, try to deliver best quality products to their customers. Some of the private companies are mentioned below:- IPMGStemcorSwire John Lewis PartnershipTherefore, we can say that there are number of private and public companies in the marketwith different objectives, sizes, scope and structure and they all serve and fulfil different needsand requirements of the customers. 1.2 Different structures within businesses and reason for variationPublic companies and private companies are different from each other in various aspects.From ownership of the company to management of the company, all things are different inprivate companies as compared to public companies. Public companies are controlled bygovernment whereas closely held companies are owned and managed by one or more membersof the company. A list of differences along with basis of difference between private and publiccompanies are expressed as follows:-
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