Importance of Accounting for Business PDF
Added on 2020-12-30
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How Business Operate
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31. Types of organization in public and private sectors................................................................32. Different structure...................................................................................................................33. Impact on economic environment...........................................................................................4TASK 2............................................................................................................................................41. Importance of accounting........................................................................................................42. Different function of HR department......................................................................................43. Key feature of employment legislation...................................................................................4TASK 3............................................................................................................................................51. Profit and Loss account ..........................................................................................................5TASK 4............................................................................................................................................51. Own and others role in a team.................................................................................................52. Stages of team development....................................................................................................63. Motivation theories.................................................................................................................64. different types of leadership style...........................................................................................8TASK 5............................................................................................................................................81. Impact of customer service.....................................................................................................82. Benefits of customer profiling................................................................................................8CONCLUSION................................................................................................................................8REFERNCES...................................................................................................................................9
INTRODUCTIONBusiness operation play crucial role in business environment. The report describedifferent types of organization found in public and private sectors in UK and also explain how acompany is affected by global economic environment. It also explain importance of accountingfor business and describe different function carried out by HR department. The report alsointerpret the information on profit and loss account. It also present different stages of teamdevelopment and describe the impact of customer service on a business success.TASK 11. Types of organization in public and private sectorsPublic Sector: Those sector which are owned by government is known as public sectors.Their motive is to serve for public and public enterprises usually do not mean to earn moneyfrom the public. There are various types of public sector in UK such as Cambridge City Council,it is a institution which is governed by government and different charity run for small agechildren (Lynn and Brewster, 2018).Private Sector: This sector is run by private individuals and groups and their mean is toearn large amount of profit. Private sector do not contributes to the economy of UK. Someexamples of private sectors are TESCO, which is a leading company in UK who offer variety ofproducts.2. Different structureFunctional Structure:This structure is beneficial for small group of business and through this structure eachdepartment of an organization can search to find out talents and knowledge of worker.There is wide variation in each sector because of lack in coordination and communicationbetween departments (Buchanan and McCalman, 2018). Divisional Structure:This structure is helpful for large companies such as in private sector who operate hugegeographic area. This structure is beneficial because it help to met the need rapidly.It need more time and it is quite costlier that is why many companies usually avoid thisstructure.Matrix StructureIt is a mixture of both structure and usually used by multinational companies.
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