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Introduction to Business Environment (IBE) : Assignment

   

Added on  2020-10-22

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Introduction to BusinessEnvironment (IBE)
Introduction to Business Environment (IBE) : Assignment_1
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Reflection on how different types of business meet the objectives............................................1CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................6
Introduction to Business Environment (IBE) : Assignment_2
INTRODUCTIONBusiness environment is the sum of all the external as well as internal factors that alsoinfluence brand image of business in market. Further the report main aim is to understand orprovide an opportunity in order to think in more precise manner to achieve the goals. Reportdescribes different types of business in order to meet out the objectives of their stakeholders. Inorder to attain this, the report also used Gibbs reflective model which helps to reflect on differenttypes of business such as private, public, non- profit and voluntary sectors in UK with theirobjectives and size. MAIN BODYReflection on how different types of business meet the objectivesIn order to present the reflection, Gibbs reflection model is one of the most used modelwhich helps to share the experience in more precise manner. This model consist of four stages,which assist me to identify different types of business and this are mentioned below:Description: while conducting this research I found that business are basically four typesand they all have their own different legal framework. These are as mentioned below:Private company: In this sector I identify that the main objective of this sector is to earnprofit and the ownership of the company is limited. In UK, the sector occupy the largestsize but does not contribute to the economy of the firm. It has been analysed by me whileresearch on this topic that private company's main aim is to transparency in its financialreporting but on the other side, it is typically restricted to the key stakeholders in anorganization (Singleton, 2019). The legal framework of the firm is to have an authorisedname and the system has to follow the all the act which are prescribed by the CompanyAct in UK law such as Memorandum of Association etc. There are two board of directorwhich are needed to form a private company. It also has many types such as sole trader,partnership etc (Private sector, 2018). For example, John Lewis Partnership which is one of the top retail company who offerclothes, watches and jewellery, gifts, cosmetics etc. Public company: When I was doing research on public company I realised that thissector comprises vast companies and its main aim is to serve for the public not to earnprofit. It also includes public goods and many governmental services such as military,1
Introduction to Business Environment (IBE) : Assignment_3

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