Structure of Business: Legal Statuses, Sources of Finance, Sectors in UK Economy, and HR Policies

Structure of Business

Table of Contents
INTRODUCTION.......................................................................................................................................3
MAIN BODY..............................................................................................................................................3
QUESTION 1..............................................................................................................................................3
Types of frameworks or legal statuses of the business together with its strength and weakness..............3
Evaluation of various sources of finance that is available for business start- up together with its pros &
cons.........................................................................................................................................................8
QUESTION 2............................................................................................................................................10
Three different types of sectors which operate within the UK economy & the difference between all.
Comment on their value in UK economy..............................................................................................10
QUESTION 3............................................................................................................................................12
Identify two HR policies & its importance in modern workplace.........................................................12
CONCLUSION.........................................................................................................................................14
REFERENCE............................................................................................................................................15

INTRODUCTION
Business is act like a legal entity which performs all the operation separately which mainly
engages with commercial, professional & also industrial activities. Business requires specific
ideas & plans to operate the buying, selling & delivering activities. Every business contains
specific purpose like profit maximization & wealth maximization for this business adopt an
appropriate ownership structure. To accomplish more positive responses, it is mandatory for the
business is to evaluate the internal & external business environment (Adrodegari and et.al.,
2017). Businesses are following various legal structures so that entrepreneurs can follow all the
guidelines appropriately. This project will discuss about different kind of various frameworks &
determine the strengths & weaknesses of legal statuses. This project also discuss about various
sources of finance which are available for the startups. Three types of sectors also discuss which
mainly operate which the UK economy. Furthermore, this project also determines the two HR
policies which are beneficial for the modern workplace.
MAIN BODY
QUESTION 1
Types of frameworks or legal statuses of the business together with its strength and weakness.
Business is work like a separate legal structure that is especially come up with the new
business with the motive of long term development at the marketplace nationally or
internationally. Through business activities, all the demand can be fulfilled by the specific
objectives & strategies. Some appropriate types of businesses are considering specific legal
status. The description of variety of businesses practices discussed with their strengths &
weaknesses.
Types of
businesses
Legal statuses of
businesses
Strength Weakness
Public
Organizations -
Basically public businesses
follow three kind of legal
This business
considered the
Public organizations
affected by the lots

This kind of
business mainly
addresses all the
business
operations. Some
specific business
practices are
considered by
this business
which is formed
& controlled by
the government.
The main
concern the
wealth
maximization.
This kind of
business also
work to address
the requirement
of the customers
& provide the
them high quality
of goods &
services which
can aid to gain
more profit
advantages which
can lead the more
advancement of
the society.
status which are discussed
below -
Central - This legal
structure formulated by the
government & all the legal
consideration authorized by
the government.
State - This legal structure
specifically monitored by
the central government &
all the functions are
performed by the state
(Bukair, 2019).
Local - This legal structure
mainly managed by the
local authorities & there is
also a interference of
government in context of
specific suggestions to
operate business operations
in a particular local areas
on the basis of state.
effective independency
for the effective
regulation of business
operations. It mainly
contains the
parliamentary welfare
& provides goods &
services for the
convenient of the
people.
of political influence
which provide. The
adverse impact on
the working of the
organization.
Antisocial activities,
ignorance of the
customer’s interest,
risk of
manufacturing the
inefficient goods &
services can be
considered as the big
weakness of the
public businesses.