How Business Operates

This report provides insights into how businesses operate, including the types of organizations, structures, and the impact of economic environments. It also discusses the importance of accounting, HR functions, and customer service.

How business operates

Table of Contents
Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
TASK 1............................................................................................................................................1
Describe the type of organization found in private and public sector.........................................1
Explain the different structure within the different businesses...................................................2
Identify the name of the business concern and explain local, national and global economic
environment impacts the enterprise............................................................................................3
TASK 2............................................................................................................................................4
the importance of accounting in business .................................................................................4
the different functions carried out by the HR department..........................................................4
Outline key features of employment legislation.........................................................................5
TASK 3............................................................................................................................................5
the information on the profit and loss account...........................................................................5
TASK 4............................................................................................................................................6
Determined your and other role in the team................................................................................6
TASK 5............................................................................................................................................7
the impact of customer service....................................................................................................7
Explain the advantage of client identification to a business. .....................................................7
.........................................................................................................................................................7
....................................................................................................................................................7
CONCLUSION ...............................................................................................................................7
REFERENCES................................................................................................................................9

INTRODUCTION
Commercial enterprise operates with the use of effective resources that helps the business to
operates in effective manner and enhance the level of effectiveness and growth in the business
concern. Business plan refer to the effective growth and include selection of the founders that
helps the business to operate in effective manner. This includes system, equipment, people and
process need to make the organization function. Different organization operates with the
different process and function that helps to gain better growth and effectiveness in the market.
Effective business growth depends on the various functions and operation that helps business to
gain effective growth and proficiency in the market. This report revolves around different types
of the organization and how they operate in the market to gain better growth and proficiency.
This report includes information about private, public, sector and their functioning. Also this
include information about different structure within the business and its operation, also it include
information about the importance of accounting for the success of the business and growth in the
market. Also this includes different function carried out by the human resource department, and
features of employment legislation.
MAIN BODY
TASK 1
Describe the type of organization found in private and public sector.
There are broad categories of businesses, company structure, and industry exists within
the private and public sectors. In private sector profit seeking companies works for the better
growth and success in the industry and produce goods and services for the customers for the
better growth and effective profitability. The companies rang in the size of small owner to
Multinational Corporation that works for the better growth and development. Below is detail
explanation of private organization working in UK.
Sole properties: private business has many operation of business with the different
functioning and motive. Businesses are organized in different format to provide tax benefits to
the owners, improve operational efficiency, and minimize liability. Sole properties are small
organization that work by the single individual and organize company in small operation. This is
owned by the one individual and has financial structure that helps the owner to work in effective
manner and increase the level of profitability and growth in the market.
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Partnership: These firms are similar to the sole properties but have different owners that
divide responsibility and profit margins among themselves according to the rate of profit and
margins of the partnership. Partnership firms works in effective manner and all the decision
making power of the company depends upon the all the members of the organization. For larger
company this becomes much difficult in the growth and profitability in the business. Partnership
firms focus on the effectiveness in the market and growth and profitability.
Limited liability companies: These are the common structure organizational structure that
protects owner assets and address liability concern with the growth and profitability in the
market. All the responsibilities rests with the company itself for any event occurrence within the
course of normal business and growth in the market. These structures make it more difficult for
the individual owner and become liability in the business market.
Public sector organizations:
Departmental undertakings: It is the earlier form of public sector business, in this
department undertaking that is considered as one of the department of political parties. There is
no diversify existence than the government. The activities control department of government.
Public corporation: This corporation created by the government, in order to take out
these public missions and services that participates in activities or gives services that are also
given by concern business.
Authorities Companies: This organization paid up share capital that is held by the
central government and partly one more state government.
Explain the different structure within the different businesses.
There are different types of the business structure that operates in the different manner and
growth of the business depends on the structure and profitability. In public and private sector
operates in effective manner with the different growth and success in the market. Different types
of organizational structure depend on the type of business and its growth in the market. Below
are different types of organization structure explained:
 Functional organization structure: In this structure people who do particular task
group collectively in the businesses. all department are placed in the finance and
marketing department and also marketing and many more departments.
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 Divisional organization structure: In this company team work under the group
based on the product and services organization offer to the customers on regular
basis. The division structure department ensure that all the worker are making
similar product and services so that business can gain better growth and
profitability.
 Matrix organization structure: This structure of the business is more complex
and depends upon the functional department of specialization and further separate
them into divisional project and product structure. Matrix structure the team
members are more autonomy and expected to take more responsibility for the work
and growth in the market.
Identify the name of the business concern and explain local, national and global economic
environment impacts the enterprise
There is different kind of business that focus on the effectiveness and growth of the
economy in the market. These businesses focus on the growth and ability of the business in the
market and addition the level of effectualness and growth of country.
Local system: Different kind of businesses contributes in the economy by providing good
and services that assist in the better maturation and success of organization. By providing
product and services and income to the local vendors businesses increase the level of effectivity
in the market and growth of the national economy. Working in the local areas of the business
companies focus on the growth of local market by providing better profitability and income to
the large organizations.
National economy: By paying tax and other source of income to the government different
organizations contributes in the growth of national economy. Working in the different level of
business organization work on the effectiveness and growth of the business in the market. The
main motive of different organization works on the ability and growth of the business in the
market that provides effectiveness and growth to the business and increase the level of economy
growth in the market. National economy environment impact the level of effectiveness in the
business growth and profitability in the market.
Global economy: Global economy system impact the level of effectiveness and growth of the
business in the market. Global economy impact the level of effectiveness by providing business
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more sources so that businesses can expand the marker rate and profitability in the market.
Growth of global economy provides more opportunities to the businesses to increase in the
market and gain the level of reflectivity in the market.
TASK 2
the importance of accounting in business
Accounts play vital role in the business and growth of the business enterprise in the
market, it helps to track the income and growth of the business in the market. It also provides
investors effective insight about the level of growth and proficiency in the market. It helps
businesses to have quality finance information that helps to know about the growth and
effectiveness of the business in the market. Also in enhance the level of effectiveness in the
financial information and growth in the market. Accounting for the business play vital role in the
growth and profitability of the business in the market, so that they can have insight about the
actual market position of the business in the market. Accounting also assist business towards the
effective growth and proficiency in the market.
the different functions carried out by the HR department
Recruitment and selection function: This is one of the major function that department of
human resource focus on. Recruitment function of the organization refer to the analysing the
needs of candidates in the organization and fulfil those needs and demands in effective manner
so that business can able to generate revenue as well as profitability. Also recruitment function of
the human resource ensure that all the vacant position in the business fulfil by the capable and
skilled employees so that they can provide effective growth to the business. Whereas selection
refer to analysing which candidate is more suitable for the job role and provide better growth to
the business. Human resource department select suitable candidate so that effective growth can
be achieved.
Training and development function: This is on of the important function of the human
resource department that focus on the effective growth and development of the employees in the
organization. Training program in the business focus on the enhancement of skills and abilities
of the employees, so that they can provide better growth and productivity to the business.
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Training and development function of the business is effective and ensure that all the employees
works in more effective manner and ensure the growth of the business in the market.
Outline key features of employment legislation.
Employment legislation refer to all the rules and regulation that government made in order
to protect the interest of employees at work place. Below are key features of employment
legislation that promote the interest of the employees and ensure the growth and success within
an organization.
 Employment legislation ensures that all the individual should get equal opportunity
for the job they are seeking.
 Sexual harassment is preventing for the better work place experience and growth in
the market.
 Fair wages and remuneration give to the individuals for their growth and proficiency
in the market.
 Good working condition should be furnish to the worker for the development for the
organization.
 Trade unions and other relationships should be analyse in effective manner so that
employees can get effective working and growth within businesses.
TASK 3
the information on the profit and loss account
Profit and loss statement focuses on the effective entry of all the transaction in the business
so that effective insight about the profit or loss can be measures. Record provides information
about the ability of the company to gain profit in the market and increase the level of
effectiveness in the growth. This also explains the profit and loss that company is earing from
the effective growth and abilities in the market to perform. The profit and loss statement of the
business provides information about the total revenues and expenses that business has in order to
perform business activities in the market.
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TASK 4
Determined your and other role in the team.
As a manager in the organization my role is to analyse and monitor the performance of the
employees so that effective outcomes can be achieved. I also guide them according to their
ability and growth in the performance so that they can have insight about the growth. i work on
the effective management of all the task and activities perform in the organization so that
effective outcome can be achieved. the business professions works for the effectiveness and
growth of the organization in the competitive environment so that growth to the business can be
achieved in effective manner and the profitability of the business can be achieved in most
effective manner.
Detail notes support future training events:
 describe the stages of team development: New team development refer to the growth and
ability of the team members to work in the effective manner and provide the growth to
the business so that effective outcome can be achieved. The first stage of team
development is Forming stage, in this stage people with similar experience works on the
effectiveness and growth of the team. In this stage all the team members polite in the
nature so that effective work environment can be achieved. In the second stage storming,
where the conflict in the team is going to start because of the clash in the team members
and this affect the level of growth and ability to the business. In the third stage norming
stage where the team members understand about the value and strength of the other team
members for the better growth and development in the business. In the performing
phase of the team development team performance is highest and increases the level of
effectiveness in the business.
 Assess three motivation theories: Maslow’s need Hierarchy; this theory explains the
person’s needs depend on the personal need that helps in the motivation and growth of
the person in the business. It focuses on the basic human needs that help to develop
motivation in the business. Herzberg’s motivation hygiene; according to this theory the
level of motivation focus on the satisfaction and dissatisfaction in the business for the
better growth and proficiency in the business. McClelland’s need theory; this theory
explain that motivation level of the employees based on the level of effectiveness in the
work they done and the achievement they gain in the business.
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TASK 5
the impact of customer service.
Effective customer services help the business to gain profitability and growth in the
market, also customer services attract more customers in the business so that effective profit can
be gain for the better outcomes. Effective customer services enhance the level of effectiveness in
the growth and profitability of the business in the market. Also effective services enhance the
customer experience and growth in the business. It retains the customers with the organization
for the long term and enhance the level of profitability in the market.
Explain the advantage of client identification to a business.
Customer profiling enhance the level of customer base in the marker and also provide
better growth and profitability to the organization. It enhances the level of responses rate in the
business so that effective growth can be achieved. it also assist business towards the consumer
acquisition in the business so that customer retain with the business for the long term.
CONCLUSION
It is inferred from the above report about findings such as, that business operates in different
manner and formats that helps to gain better profitability and growth of the business in the
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market. Effective growth and profitability intensify the level of growth and success of the
business in the market. Different organization have different structure that enhance the level of
growth so that business are able to run smoothly and effectively.
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REFERENCES
Books and Journals
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a consulting and training organization for inter-national management, which now operates as
THT Consulting, the Netherlands.
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organisational complexities and circular business model design. Journal of Fashion Marketing
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Shani, A.B. and Coghlan, D., 2019. Action research in business and management: A reflective
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