How Businesses Operate INTRODUCTION 3 TASK 13 1.1 Types of Business in UK3 1.2 Different Structures of Business 4 TASK 13 1.1 Importance of Accounting for Business 5 5.1 Key Features of Employment Law
Added on 2020-12-10
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How Businesses Operate
Table of ContentsINTRODUCTION ..........................................................................................................................3TASK 1............................................................................................................................................31.1 Types of organisation in UK ................................................................................................31.2 Different structures of the business with examples and reasons ..........................................41.3 Impacts of local, national and global economic environment on business ..........................4TASK 2............................................................................................................................................52.1 Importance of accounting for successful business ...............................................................55.1 Various functions of HR department in a business of Heinz................................................55.2 Key features of employment legislation ..............................................................................5TASK 3............................................................................................................................................53.1 Interpretation of accounting information using P&L accounts ............................................5TASK 4..........................................................................................................................................104.1 The stages of team development ........................................................................................104.2 Determine own and other's roles within a team .................................................................11..................................................................................................................................................114.3 Evaluation of motivation theories ......................................................................................114.4 Leadership styles ................................................................................................................126.1 Impacts of customer services on success of business ........................................................126.2 Advantages of profiling ......................................................................................................12CONCLUSION .............................................................................................................................13REFERENCES .............................................................................................................................14
Illustration IndexIllustration 1: Stages of team development....................................................................................13Illustration 2: Organisation chart...................................................................................................14
INTRODUCTION In order to understand that how business operates there activities, this report includesdifferent types of organisation in UK. In addition to this, there are also describing the factorswhich can affect the business of Heinz. Apart from this, many other factors which are required tooperate the business are also included in this report. TASK 11.1 Types of organisation in UK Private sector companies:Sole traders: It is the oldest type of business who starts their business with minimumcapital. It runs by one owner. They gain more profitability margins compare to othercompanies. Partnership: This is the business which runs by two or more than two members. Theyshare the profits among them with different bases (McKinnon, 2018). . Ltd. Companies: It is also known as joint stock company. It requires variousdocumentations as memorandum of association before starting their business. Franchise: These are the business who have already their reputation and brand image inthe market. These types of organisations sell their trademark and copyright to person whoare interested to run the business. Charities: It is a non profit organisation which provide financial help to those whorequired. These are tax exempt organisations and not permit distributing their shares tostockholders. Public sector companies:Under this sector, Government is the main stakeholders in every organisation. It can be dividedinto two parts as central government and local government. Prison and armed forces are theexample of central and councils or hospitals are the illustrations of local government (McKinnon,2018). . Difference between the objectives of public and private sector regarding to profit making:The focus of private companies is to gain maximum profitability margin whereas theobjective of public company is to focus on welfare of the society.
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