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Business Environment in Merrill Lynch Assignment

   

Added on  2021-02-19

9 Pages2098 Words107 Views
Business Environment in Merrill Lynch Assignment_1
Business Environment in Merrill Lynch Assignment_2
INTRODUCTION Business environment can be define as that environment in which an organization exist and havea threat related to macro and micro factors. The report will give the details of different types oforganisations. The advantages and disadvantage of different types of organisation. Further thestudy will give the difference between organisational structure based on their objective, size,scope and legal structure. The report will also give organisational structure of Merrill Lynchclients and their relationship between different organisational structure.Task 1LO2 Different types of organisations and their advantages and disadvantages.Sole trader A sole trader is a person who sets his own business. They employee other people forwork but they are the owners. As for a sole trader the business is owned by himself and grown bythe owner itself any profit or loss all are beard by owner itself (Prajogo, 2016). Advantages- The sole traders are their own boss. All profits is kept by the owner only. As theyare the owners it is easy for them to change the business structure. The process of setting up as asole trader is easier than setting up limited company.Disadvantages- All the risk is beard by the owner only so it is very risky. Decision making isvery difficult for a sole trader as all the decisions are taken by owner only. Raising sources for asole trader is difficult. Partnership firmsA partnership is a relationship between the individuals who agrees to share the profit of abusiness. In partnership whether it is a loss or profit, all is beard by partners according to theirpartnership deeds(Deasy and et.al., 2016). Advantages- Each partner files the profits or losses of the business on his or her own personalincome tax return. Management is good in partnership firm as all partners take interest inmanaging the business affairs. Sharing of risk as, all the risk is shared by partners. Disadvantages- There is no legal status in partnership firm. Partnership firms not exist for aninfinite period of time. Liability of partners in partnership firm is unlimited as any partners canbe called to pay the debts.Public company 1
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