Definition and Characteristics of Different Business Sizes and Types

Individual
Report

Table of Contents
INTRODUCTION...........................................................................................................................1
Section 1...........................................................................................................................................1
Definition, characteristics of micro, small, medium size and large size business......................1
Section 2..........................................................................................................................................3
Definition, characteristics of sole trader business, partnership, limited liability business,
public limited liability business and Cooperative.......................................................................3
Section 3...........................................................................................................................................6
Identify different organisational structures and explain how organisational structure affects
business productivity. .................................................................................................................6
Analysis explain how different external factors affect the performance of a business...............7
CONCLUSION ..............................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
It includes the activities of the enterprises that willing to achieve their
characteristics of the corporation. In this enterprise atmosphere play a
important role in which they helps to identify the different types of business
and the corporation with their suitable example. It involve the micro, small,
medium and large enterprises along with structures which includes sole
proprietorship, partnerships, legal corporations etc. it also helps gaining the
expansions. Macro environment also helps to increasing the competition. In
which organisation ca manage for long duration time(Khmara and
Kronenberg, 2018).
Section 1
Definition, characteristics of micro, small, medium size and large size
business.
Small business: A business runs in small level in minimum
investment, minimum worker, and few machines for operations, it also
produce goods and services in small scale. This type of manufacturing plays
a important character in development of economy of the country. The owner
of the company, they do one time investment on industry, machines, plants.
They can purchase or they take on rental basis. This manufacturing do not
finance more than around one crore. There are various example of small
scale business are: bakeries, candles, earbuds, paper, toothpick, brushes,
scraps etc. these manufacturing are mostly situated in Rico industry areas or
urban areas. As an individual unit(Muñoz and Cohen, 2018).
Characteristics
Ownership: They have a particular ownership control on the
company.
Management: All the member of administration control by the
management.
Limited reach: This industry has limited space for the production, so
that shops and industry situated in particular area.
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Labour intensive: This technology is very small, because they are
totally reckon on labour and work force.
Flexibility: This manufacturing done on small basis, they make
frequent changes rather, unlike big manufacturing.
Micro Business: micro business defied as in this they have around
one to ten employees. It is also kind of small business, but it is performed on
very nominal basis in comparison of small business. In this enterprise there
are few examples which comes under the micro business , general store,
outlets, kiosk, shops etc. It also runs in the same way as another enterprise
types. It also chosen by a particular owner(Borchardt and et. al., 2020).
Characteristics
 Micro Business are lower in revenue generation along profit ratio of the
organization.
 They have minimum number of the employees.
 Small market place.
 Sole proprietorship, taxes, business concern, ownerships.
 They give the constricted area and with few situate.
Medium size business: Medium size business are those enterprise
which operates the business in local boundaries areas. And they have around
42 to 250 employees. It is a big enterprise in comparison of small size or
micro size business. There are example of medium size business, cotton
industry, jute industry, iron and steel organization(Davis and Comeau, 2020).
characteristics
 It equipped the work really hard.
 Adopt the frequently changes according to market status.
 Try for constant formulation.
 Give a chance to improve the mistakes.
 To learn the how to convince or dealing with customer.
Large size business: large size business are those business which
allows the bulk manufacturing, mining, deluxe properties, which is performed
at internationally or global nation . In this more than five hundred employees
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