How Does Business Operate?
Added on 2020-06-06
11 Pages2773 Words431 Views
HOW BUSINESSOPERATES
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Different types of public and private organization in UK................................................11.2 Different structures within businesses and reason for variation.......................................11.3 Impact of local and global economic environment on selected business.........................2TASK 2............................................................................................................................................22.1 Importance of accounting for business success................................................................25.1 Functions of HR department in business..........................................................................35.3 Key features of employment legislation...........................................................................3TASK 3............................................................................................................................................3Profit & Loss Statement of Hilton Hotel................................................................................3TASK 4............................................................................................................................................44.1 Role of team-members and own.......................................................................................44.2 Team Development.........................................................................................................54.3 Role of leadership and motivational style in context with different situations................54.4 The way leadership style and motivational skills are used to influence workers.............6TASK 5............................................................................................................................................66.1 Impact of customer service on business success..............................................................66.2 Benefits of customer profiling to business.......................................................................6CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
INTRODUCTIONFunctions of a company are much affected by business environment which includes manyinternal and external factors. It includes employees, suppliers, customers and so on. Theseelements which come under macro environment are generally beyond control of organisation.Apart from these, business environment is more dynamic and complex in nature as it keeps onchanging. Therefore, it is necessary for management to apply changes in operational activities sothat impact of these factors can be reduced. In order to understand how a company operates itsbusiness, this report has been made. In this context an organisation of UK named by Hilton Hotelhas taken. It highlights some basic concepts like a description on how organisation can bedivided on basis of public and private sectors. Along with importance of accounting, teamdevelopment, impact of customer service and their profiling has also discussed. TASK 11.1 Different types of public and private organization in UKIn marketplace of UK, companies are generally divided on the basis of their businesscriteria. Organisations in private sectors are classified on the basis of ownership like soleproprietors, partnership, joint corporations and more. These firms are operating business to earnmore and more profit as well as government has no control on them. While firms under publicsectors are fully controlled by regulatory bodies with common aim is to provide welfare topeople. Therefore, it is easy for them to operate their business at global level. Associations likeNestle, Marriott Hotel and more are come under private while NHS, Royal Bank of Scotland aresome public organisations. 1.2 Different structures within businesses and reason for variationEnterprises under public and private sectors are also divided on the basis of theirstructures through which they carry their operations. These organisations are worked fordifferent purpose having different target based audience. Public organisation- Vertical structure- In this type of structure, industries have several directors who areresponsible taking important decisions which are used in making policies, programs andoperational procedures. It includes corporations like Military.1
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