Introduction to Business

Introduction to Business

INTRODUCTION
Business is that kind of activity that has been helping in selling, managing and plaining to
sell product and services that has been sold by an organization. This is one of the most important
part of an organization that makes sure that business is being done in smooth and proper manner.
Business is related to various kinds of elements like commercial, industrial and professional
activities. Such activity has helped in making contribution towards economic activities within an
business and has wider scope. Nature is dynamic according to tendency of business to be
impacted over economy within an country. Organization that is taken is Little Desert Shop.
Things to be covered in this reports is poter's five forces model, partnership and macro
environment is being covered.
MAIN BODY
Evaluate a partnership as a type of business organisation with reference to Mary and Sue’s ‘Little
Dessert Shop’.
Partnership is that business organization which is being formed that has been by
coordination of two or more then two partners. These organizations are is being making partners
come together with common motive to make sure that profit is generated out of business started
by them. They are wholly responsible for the activities that is being done within a business. In
this partners hold limited liability. There are various partners and different forms of partnership
which is involved within a business. In this partnership is being understood through multi pal
parties. These are related by government, non-profit enterprises, businesses or private individual.
Another way is through joint venture that is taken by two or more then two individuals major
categories of partnership. Partnership is general and limited partnership.
In general partnership all parties share within themselves any kind of financial liability.
These individuals is personally responsible for debts within partnership. Profit is shared equally
among partners. If a partnership firm is specified then only agreement has to be formed between
partners willing to form business. The arrangement limits a person and if one partners is sued
then malpractices increases which results into dissolution of partnership. Various law has been
form in order to make sure that accounting is maintained within the partnership firm. Latter is
more senior that is associated but in this ownership stake exists. These are generally paid and is
base upon profit making. Mainly senior is associate but ownership stake. They are generally pid