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Introduction to Business Organisation PDF

   

Added on  2020-10-05

10 Pages2634 Words199 Views
Introduction to BusinessOrganisation

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Analysing key objectives of business organisations........................................................11.2 Discussing how business firms achieve their objectives..................................................3TASK 2............................................................................................................................................42.1 Ownership Structure of two different Organization.........................................................4TASK 3............................................................................................................................................42.2 Key Features of a Franchise in an Organization..............................................................4CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................5

INTRODUCTIONBusiness organization is a process in which a person or group of people works togetherfor the betterment of the company. It is used to understand the nature and importance ofbusiness. It is helpful in their overall growth performance, for their technological improvement,bringing innovation, etc. In this report, it will discuss about different types of businessorganization available in the industry and how each business is organizing in the market toachieve their targets and goals. It will also explain the different ownership structures of thesebusiness organizations and how it is working. It will also explain the key features of a franchisewhich plays an important role in any business organization to work effectively in the targetindustry.TASK 11.1 Analysing key objectives of business organisationsBusiness is an organisation which starts its operations in order to provide products andservices to the society and in exchange for money. It helps to firm to earn profits by enhancingcustomer satisfaction. There are various types of business organisations such as sole trader,partnership and limited companies. Key objectives of each businesses are listed below-Sole tradersThe business is handled and owned by one individual only. All decisions are taken byhimself and profits as well as losses are not shared with anyone. Main feature of sole trader isthat he has unlimited liability to pay-off dues and liabilities to creditors. Hence, personal assetsare always at stake for paying obligations to creditors. The key objectives are as follows-First and foremost objective of sole trader is to understand markets so that onlypreferential products are sold to customers in accordance to their tastes. Developing and formulating business strategy is required in order to lure consumerstowards commodities and services. Set of rules have to be followed by which he may beable to satisfy customers by effectively formulating strategy.Past performance needs to be analysed as on this basis, future performance can bepredicted easily. It is another key objective of sole proprietorship to analyse profitability1

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