Introduction to Business: Comparison of Business Organizations, Marketing Strategy, Organizational Structure, and Business Functions

This report on Introduction to Business covers a comparison of various business organizations, the benefits of partnership over sole proprietorship, marketing strategy, organizational structure, and different functional areas of a business. The report emphasizes the importance of planning and organizing before investing in a business.

Of Business (Assessment 1)

Table of Contents
• Introduction
• Comparison between business organizations
• How partnership is better than sole trader
• Marketing strategy
• Organizational structure
• Business functions
• Conclusion
• References

Introduction
Business may be defined as an entity
in which an individual or group of
individuals are engaged in any
professional, commercial and
industrial activity to earn more and
more profit. In this report a business
has been start name as “lovely coffee”
in the market of UK.

Comparison of various business organizations
Basis Sole proprietorship firm Partnership firm Company
Meaning This type of business is
generally owned and run by
a single owner.
In this type of business two
or more person are
collaborative engaged in
achieving all the objectives
of the business
A company is basically a
separate legal entity firm in
which different group of
individuals operate the
business.

Why partnership is better than sole
proprietorship
The most important benefit of the
partnership over the sole
proprietorship is that in partnership
the roles, resources, responsibilities
and losses will be share.

Marketing strategy
The company is going to promote the product
and image of the company in the market with
the use of marketing mix tool. This tool help in
growing the business in a very effective
manner. This strategy has been discussed
below:
Product
Price
Place
Promotion

Organizational structure
This is basically a system in which
different activities and roles within the
company has been clearly directed for
achieving all the objectives of the
company in a very effective manner.
Different types of structure have been
discussed below: -
Hierarchical structure:
Horizontal or flat org structure

Different functional areas
These are the areas in which employees
of the company perform their action.
Different areas have been discussed
below: -
Financial area
Marketing area
Human Resource

Conclusion
From the above PPT, it is concluded that a business start up requires a lot of
planning and organizing and the decision to invest in business must be taken
after analysing various points such as organizational structure, marketing
strategy, legal structure of business, etc.

References
• Stoyanova, T. and Angelova, M., 2018, June. Impact of the internal factors on
the competitiveness of business organizations. In 2018 International
Conference on High Technology for Sustainable Development (HiTech) (pp. 1-
3). IEEE.
• Trufanov, G.A., 2021. Modern aspects of conflict management in business
organizations in the context of conflict studies in business. Актуальные
вопросы современной экономики, (8), pp.14-23.
• Kim, J.J. and Kim, S.J., 2018. Women’s leadership in family business
organizations. In Korean Women in Leadership (pp. 141-158). Palgrave
Macmillan, Cham.

Thank You