How Businesses Operate Sample Assignment

Added on - 21 Feb 2021

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How Businesses Operate
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1 Types of Organisation......................................................................................................31.2 Structure of Organisation.................................................................................................41.3 PESTLE Analysis.............................................................................................................5TASK 2............................................................................................................................................62.1 Importance of Accounting................................................................................................65.1 Functions of HR (Any 5 Functions).................................................................................65.2 Employment Legislation (Min 5).....................................................................................7TASK 3............................................................................................................................................83.1 Profit and loss Account and Explanation.........................................................................8TASK 4............................................................................................................................................84.1 Explain your own role in a Team.....................................................................................84.2 Team Development Stages..............................................................................................94.3 Motivational Theories (Any 3).........................................................................................94.4 Various types of leadership style (Any 5).....................................................................11TASK 5..........................................................................................................................................116.1 Impact of customer service on business success............................................................116.2 Benefits of customer profiling to a business..................................................................12CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
INTRODUCTIONEvery business organisations aims to succeed at marketplace. For this, they aims tooperate their business activities effectively at workplace so that predetermined goals can beattained in quicker manner. Many of the associations are conducting various educationalprograms through which companies can enhance their knowledge and attain success quickermanner(Barkhatov, Pletnev and Campa, 2016). This report will provide information on overbusiness environment, various types of organisation that are represented in public and privatesector, various kind of organisational structure and PESTLE. It will also cover information ondifferent business function in the company. Further, it provide information on accounting skillsand Profit and Loss account for better understanding in companies financial status. At next, itwill provide information on team role of individual in team and its team members, variousmotivational theories, leadership styles, stages of team development. At last, it will state thatimpact of customer service on success of company.TASK 11.1 Types of OrganisationBusiness organisations are bifurcated into two types that is public and privatesector. In context of United Kingdom, the country has both the private and public companieswhich are further bifurcated in different sub types. All of its main types are described as below:Franchise:It is considered as the authorization given by a company to some else forexecuting their commercial activities effectively at marketplace. Large scale companies likeMcdonald's often took it as best way through which their business can be expanded. Mainobjectives of this type of organisation is to maximise delegate business operations in order tomake their work in ease.Sole Trader:In this, business is owned by single person or individual. It has unlimitedliabilities as business owner and company are not separate in legal terms, thus he/she themselveshave to bear loss and gain profits(Bloomberg and Pope, 2017). All business functions, decision,work responsibility etc. are managed by the single person only.Partnership:In this, business is run by two or more individuals who share workresponsibility, profits, losses, liability etc. on the basis of their invested capital.
Government:This refers to the public company which is lead by governmentalassociations. The main aim of this type of organisations is to provide better products and servicesto customers without making much profit margins.Charity/ Voluntary:This type of company is considered as the group of people whocomes under one contract or agreement for the common purpose of social welfare. It includestrade union, trade association, environmental group etc.1.2 Structure of OrganisationBusiness environment contains various types of organisational structure which is beingfollowed by companies as per their businesses type. Every organisation has its ownorganisational structure that is being followed by them for executing their business objectives(Burgess, 2014). These structure may vary from one company to another as motive and objectiveof business are separate and variation in structure makes it easier for them to perform their workin effective manner. Some of common business structures which are being used in UnitedKingdom are described below:Hierarchical StructureThis type of organisational structure contains various layer under which employees areranked according their designation in the company. This method is best feasible for large scalecompanies as they are easily able to command employees in systematic manner and its executionis also done in right way. It includes a top chief executive, then senior management team, thenmiddle manages and lastly workers. TESCO is using hierarchical structure as it supports themoperating their business functions at international level.Flat StructureFlat structure clearly states that business does not have various level. In this, only onemanager lead all employees work and take decision towards their work. It is more feasible forsmall businesses.Matrix StructureIn this type of business structure working responsibilities of employees are set like a gridor matrix instead of traditional hierarchical structures. In this, employees are having relations andreport to both product as well as functional manager.
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