Introduction to Business: Start-up Profile, Business Entities, Organizational Structure and Functions

This presentation on Introduction to Business covers the profile of a start-up called 'Germ Destroyer', different business entities, advantages and disadvantages of sole tradership and general partnership, why general partnership is better, marketing strategy, organizational structure and functions. It also includes references for further reading.

Introduction to business

Table of contents
 Introduction
 Profile of selected Start-up
 Distinguish between business entities
 Advantages and Disadvantages of Sole tradership and general partnership
 Why general partnership is better
 Marketing strategy
 Organizational Structure
 Organizational Functions
 CONCLUSION
 References

INTRODUCTION
 Business is defined as a process of establishing a company by entrepreneurs with the purpose of
gaining profit in the market. A business could also be referred as a company engaged in
professional activities or commercial operations. In the following presentation a new start-up
business which is called as “Germ Destroyer” has been discussed. This presentation also includes
different business entities. Furthermore, advantages and disadvantages of sole trader and general
partnership has been mentioned. This presentation also explain why general partnership is better
than soul trader for a new start-up along with marketing strategy of the company. Lastly,
organizational structure and functions of the company has also been provided in the presentation.

Profile of selected Start-up
 Name of the start-up: The company name is
“Germ Destroyer” which will deal in making
sanitizers.
 Location: The start-up will establish its firm in the
market of the UK.
 Business Type: This organisation will implement
partnership method of business entity.

Distinguish between business entities
 Different type of business entities
are described as follows:
 Sole proprietorship
 General partnership
 Limited liability company
 Corporation

Advantages and Disadvantages of Sole
tradership and general partnership
 Sole tradership
 Advantages
 Disadvantages
 General partnership
 Advantages
 Disadvantages

Why general partnership is better
 Minimising risk
 Diversifying expertise
 Equal distribution

Marketing strategy
 STP Analysis
 Segmentation
 Targeting
 Positioning

Organizational Structure
 An organizational structure is defined as a system that explains how
specific activities should take place in an organization so that
desirable goal could be achieved. These different activities could
involve roles, rules and responsibilities. It also helps in determining
how information could be conveyed between different levels of the
company.
 In case of germ destroyer, hierarchical organizational structure has
been chosen to implement that could provide the company in
accomplishing productivity.

Organizational Functions
 Marketing department
 Human resource department
 Customer service department
 Finance department
 Research and development department
 Sales department

CONCLUSION
From the above presentation it is concluded that starting a new enterprise involves
first understanding the type of legal structure which needs to be adopted along with
the suitable organizational structure. General partnership and sole proprietorship are
some common options for legal structure of a new startup while different
organizational structures such as hierarchical organizational structure can be used to
create a new startup company. Each function in an organization including IT function,
Finance function, HR function, marketing function, sales function and R&D function
is essential for success of the company.

References
 Katz, J. A. and Green, R. P., 2018. Entrepreneurial small business. McGraw-Hill
Education,.
 Kemptner, W., 2017. Business plan for a chocolate factory in Latvia. GRIN Verlag.
 Márquez, F.P.G., Karyotakis, A. and Papaelias, M. eds., 2018. Renewable energies:
Business outlook 2050. Springer.
 Dettling, W., 2018. How to teach blockchain in a business school. In Business
Information Systems and Technology 4.0 (pp. 213-225). Springer, Cham.

Thank-You