Individual Report

Individual Report

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
1. Partnership as a type of business organisation........................................................................1
2, Porter 5 Forces framework to accomplish competitive advantages........................................2
3. Macro environmental factors to improve the business of the company..................................3
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5
Porter's 5 Forces. 2019. [Online]. Available Through:
<https://www.investopedia.com/terms/p/porter.asp>......................................................................5

INTRODUCTION
Business refers to an activity and action of devising one's living or making money by
manufacturing or purchasing and selling goods. It can be an activity of trading the products and
services to fulfil the needs and demands of the potential clients. A business of an organisation
can be run and operate in different ways like partnership, joint venture, merger, acquisition and
others. This report is based on a new business of Ice Cream Shop which is running partnership
(Bell, Bryman and Harley, 2018). This assignment will discuss about partnership as a type of
business and porters 5 force framework to accomplish competitive advantages by managing the
relationships with these forces. Further, will explain about the macro environmental factors
which are beneficial to improve the business of establish business.
MAIN BODY
1. Partnership as a type of business organisation
Partnership
It is an agreement between two or more parties to operate a particular business for
sharing profits and loss. These parties can be government, non – profits enterprises , business
or private individual. There are three types of partnership such as general partnership, limited
and limited liability limited partnership. In the general partnership, all parties have all equal
sharing financial and legal liability. Limited liability partnership is a common structure for
professional like lawyer and architects, which further distinction them between the equity and
salaried partners. Whereas limited partnership is a hybrid of general and limited liability.
Yoghurtology Frozen Yoghurt shop is a ice-cream shops that sells ice-cream to different sector
in the market. They work in partnership to expand its business operation in the ice-cream
industry. partnership helps them to reach out to larger number of audience in the market .they
basically are general type of partnership so that all partner can share profit and loss in the
business.
Advantages: Partners can bring various skills and knowledge to the business which helps them
to expand its activates in the market. It will also beneficial for Yoghurt Frozen Shop because it
help in reducing the financial burden form the owner because partner contributed their part of
money in the business (Muzellec, Ronteau and Lambkin, 2015). Partnership gives extra hands in
operating the different activities in the business. It required lesser time to prepare the paperwork
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