How Businesses Operate

This presentation provides an overview of how businesses operate, including the different types of organizations in the public and private sectors. It discusses the impact of the economic environment, the importance of accounting for business success, and the functions of the HR department...Read More

How Businesses Operate

Table of Contents
TASK 1 4
1.1 Explain the different type of organisation found in public and private sectors with examples. 4
1.2 Explain various types of organisation structure within the business. 5
1.3 Describe the impact of local, national and global economic environment through PESTLE. 9
TASK 2 10
2.1 Discuss the importance of accounting for success of business. 10
2.2 Explain the functions of HR department in business. 10
2.3 Explain the features of employment legislation 11

INTRODUCTION
 Business refers to a an organisation or enterprises which is engaged in various activities such as commercial,
industrial, professional etc. (Bonacich and Modell, 2021). It is an organised efforts of an individual and a group
of people who manufacture goods and services and sell their service and goods for achieving higher profit

Explain the different type of organisation found in public and
private sectors with examples
 Public sector- It refers to those companies which are under the control of government, public funded agencies
and other public enterprise which deliver goods and services and public programs (Boone and et. al. 2019). It
provide various services such as infrastructure, public transportation, healthcare, police, education, military
service and so on

Explain various types of organisation structure within the
business.
 Organisation structure refers to a method through which organisation activities and
operations are organised and control. For success of any organisation its important that
they follow a proper organisation structure and hierarchy. There are various type of
organisation structure which are discuss below:

TASK 2
Discuss the importance of accounting for success of business.
 Accounting play an essential role in successfully running a business. This is because it
helps in managing all income and expenditure of company and provide a financial
information to all interested parties of business. Various importance of accounting are
mention below

Explain the features of employment legislation
 Employment legislation includes various acts and laws related to rights of employee
and employer and expectations of employee and employer with each other. Their are
various laws are included in employment legislation such as Discrimination act,
working hours act, minimum wages act, employment relation act and so on. In context
of selected firm various features of employment legislation are discuss below

CONCLUSION
 From above discussion on this report it is analysed that there are various types of public sector company and
private sector company. Organisation structure play an essential role in the development of an organisation.
Their are various motivational theories such as maslow needs motivation theory, Malo theory and McClelland
theory. Which provide various way to motivate their employees towards goal. This file includes various
leadership theories such as autocratic, democratic, gratifier, innovator. Customers services and customers
profiling both play an essential role in the development of an organisation.

REFERENCES
 Bonacich, E. and Modell, J., 2021. The economic basis of ethnic solidarity: Small
business in the Japanese American community. University of California press.
 Boone, L.E., and et. al. 2019. Contemporary business. John Wiley & Sons.