Types of Business Frameworks and Legal Statuses

This article discusses the various types of frameworks and legal statuses of businesses, including public organizations, central and state governments, private sole proprietorships, partnerships, limited liability partnerships, companies, and voluntary organizations. It explores the strengths and weaknesses of each type and provides insights into their implications and benefits. The article also highlights the importance of understanding and implementing the right business practices for success.

The Structure of
Business

TABLE OF CONTENT
INTRODUCTION.......................................................................................................................................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
and cons.................................................................................................................................................11
QUESTION 2............................................................................................................................................12
Three different types of sectors which operate within the UK economy and the difference between all.
Comment on their value in UK economy..............................................................................................12
QUESTION 3............................................................................................................................................14
Identify two HR policies and its importance in modern workplace.......................................................14
CONCLUSION.........................................................................................................................................15
REFERENCE............................................................................................................................................16

INTRODUCTION
Business provides an important areas in order to generate the production enter avenues
and also to optimise the living standard of people. It helps out to gain the manufacturing and also
enhancement in the approved uplifting the global market chains (Van Looy, 2019). It provides a
profit margin for the market and also gives the scope through which the operational activities are
being carried out in the environmental area for implementing the important decision making
programs. It provides two important sources through which the internal environmental matters
and factors are being covered as it provides out the mission, vision, resources and all the
important implication. This report will further cover all the control, types of business and
important implementation of laws that are being needed for the business practises with the
funding which helps out to raise the economic value.
QUESTION 1
Types of frameworks or legal statuses of the business together with its strength and weakness.
Business implicate out method which helps how to provide a growth in all the companies
and also variable objective through which they can enhance the demands that are being perceived
for the company’s growth. Some of the important implementation of business practices are being
mentioned below:
Types of businesses Legal statuses of
businesses
Strength Weakness
 Public
organisation:
This mainly
provide out
all the
important
organisational
practices
which are
This mainly have three
important forms of
public organisations
they are as follows:
 Central: This
provides out all
the important
control that is
being covered by
 It helps out to
apprise the
autonomy and
also to uplift
the major
advancement
for the
country by
maintaining
 This provides
out High
interference
of all the
political
background
and areas
through
which they

being handled
by the
government
and their
main motive
is to create
income and
welfare for
the society
and also to
generate
maximum
profit for the
growth of the
customers and
also to fulfil
the demands
that are being
raised by the
societal
advancement.
the government
and also being
handled through
the
authorisations
which is being
maintained by
the government
in order to
evaluate the
distinctions of
the country
(Hamidi, and
Jahanshahifard,
2018).
 State: This
manage all the
important central
government and
the important
implementation
of function
through which
the scent state is
usually be part
of all the
framework.
 Local: It
provides out all
the management
of business
the (Turner,
and Gianiodis,
2018).
independent
operational
activities.
 This helps to
formulate
important
welfare for the
societal
development
and also to
maintain the
scrutiny by
maintaining
the
Parliamentary
programs and
welfare areas.
try to
implement
out the work.
 It mainly
ignores all the
important
corporation
that is being
rest out for
the
consumers
advancement
and also
promotes out
the absence of
all the
functions of
the business
and also
reduce the
interest
through
which the
customer can
thereby gain
the
advancement
for the social
policies and
well-being.

practices in
which the
government and
with them the
local authorities
take tea advisory
actions for
maintaining the
areas for state
Private
Organisation: This is
mainly important
business practice
which helps out to
hold all the
individuals who used
to carry their
business in private
manner and they
usually helps out to
country in order to
generate the
maximum profit for
the benefit of the
society.
Sole proprietorship:
This mainly is a
business practice which
is being carried out by a
sole owner and a single
person used to carry out
all the important
responsibilities that are
being needed for the
power and
establishment of
business practice
(Nishiyama, 2019.)
 As all the
control and
the powers are
being carried
by a sole
owner there
will not be
any
involvement
of a third
person which
creates a
smooth
manner of
performance
of functions in
Sole
proprietorship
business
practises.
 All the
important
 This mainly
promotes a
threat for the
company as
its surface of
the liabilities
which are
being
personally
framed for the
individual.
 If the person
dies at the
time of
business
practice his
whole
business will
thereby be
shut down as
they will not
be any option

liabilities,
paying of
taxes and the
profits are
being
generated
carried out by
a single
individual
who used to
cover all the
responsibilitie
s in the
business
practice
(Mosteanu,
2020).
for the
practise in the
legal areas an
entity to
maintain the
business areas
and
framework of
the
promotions.
Partnership: These are
mainly the business
practices which are
being handled by two or
more individuals as they
used to share out a
common business and
are being termed as
partners. The share out
the equality, liabilities,
debts, profit, loss and
the mutual agreements
were being made
between them
 There all the
decisions are
being made by
the partners
equally so it
provides out
an expert
solution for all
the major
problems and
the
advancement
for the
business
 As it covers
of the joint
liability both
the partners
are there by
equally being
liable in order
to maintain
the firm and
also the
liabilities is
being framed
through the
maintenance

practices
through which
the
enhancement
can be
apprised.
 It mainly split
all the losses,
profit and the
income
through which
the tax
savings and
thereby be
maintained
(Kuznetsov,
and et. al.,
2017) .
and equality.
 It covers out
important and
limited areas
for the
personal
issues and
matter in the
partnership
and the firm
process.
Limited liability
partnership: These are
mainly all the
partnership agreements
which used to cover out
a separate legal entity in
their raising funds and
the business
implementation with
their partners.
 This mainly
generate out
all the capital
contribution in
their legalities
and a personal
benefit
programs
through which
the business
and thereby be
framed and
protected.
 In all such
practices one
partner used
to get more
profit as
compare to
the other as
according to
the system
and the shares
that are being
distributed
between

 All such
business
practices are
mainly easy to
be handled as
in compare to
the private
companies
that used to
deal with
complex
methods
(Leminen, and
et. al., 2020).
them.
 This evaluate
out high
penalties in
all the non-
compliance
areas for the
private
individual
and the
companies
that are being
shared.
Companies: It is mainly
a legal entity which is
mainly being formed by
a different owners as all
their working is being
carried out through the
artificial personality a
company can thereby be
sue or can be sued in
every circumstances
there are mainly two
types of important
company where public
company that used to
cover out the shares to
the shareholders and the
private company which
 This provide
out all the
Limited
liability is in
order to
maintain their
shares and
also a
personal
liabilities
being a rise in
deep
framework of
organisation.
 All such
companies
used to carry a
 It do not have
much privacy
in account of
the business
practises at as
you surely
provide out
all the public
disclosure of
the important
matters that
are being
needed for
organisation.
 An important
legal
requirement

carried out the business
through the private
individual practice and
manage their own
business in their own
means.
perpetual
succession in
all their
companies
welfare and
they used to
be for forever
as a person
may go but
the company
will stay
within with
there same
succession
practice.
is being
needed for all
the
maintenance
and the time
is being
required for
all the
efficient
practices for
the consumer
that is being
carried under
it.
Voluntary
organisation: It is
mainly all the non-
profit working
organisation which
covers out and be
managed by the
social volunteers and
the staff members
which usually
maintain all such
business practises for
the society growth
and upliftment and to
initiate the social
working process
It covers out to
important implications
they are like:
 Associations:
These are mainly
all the important
legal documents
that are being
constituted in the
framework for
the membership
and the
objectified areas
of the business
practises
(Aleksandrova,
 All the
important
recognisation
of the public
trust is being
carried out for
the social
cause and also
being known
as the easiest
manner for the
framework
and
circumstances
through the
different
 It is mainly a
time
consuming
process at as
it required so
much of times
and efforts for
the growth of
company.
 This
promotes out
all the
important
social
working and
also focuses

and et. al.,
2018).
 Trust: It also
business are
being carried out
by trustees as it
used to provide
out the
objectives
through which
they used to
govern
important
framework and
the nature of
business.
aspects.
 This provides
out the relief
from all the
tax
exemptions
processes.
on the
economic
areas in order
to generate
maximum
profit and
growth for the
business
practises.
Charitable
organisations: this
provides a non-profit
ventures through
which all the
important registration
can be claimed out
and implementation
of important status
for the government
implementation in
India with a specific
interest and system
can be maintained as
it provides of
Charitable trust: These
are mainly the small
groups which are
mainly been called as
trustees and are also
being appointed in order
to maintain and also not
incorporate in the
benefits of any private
own groups (Ode, and
Wadin, 2019).
Unincorporated
association: These are
mainly the associations
 It provides of
the social
implementatio
ns and the cost
through which
the gain of
public trust
can be
maintained
out.
 It used to
frame out all
the important
assets that are
being needed
 These cover
out important
charities and
funds and are
mainly
dependent
upon the
funds that are
being raised
by the
individuals.
 It provides
out all the
regulatory
requirement

payment to the staff
and also funds for the
growth of society.
and activities which
usually cover out the
public benefits and
advancement through
which the generation of
maximum areas in
attainment can be
maintained.
for the
business
practices and
all the
charitable
objectives that
are being
carried out for
the
implementatio
n of important
programs and
functions.
through
which they
complied out
the accounts
and through
which the
return of the
investment
can be
implemented.
Evaluation of various sources of finance that is available for business start- up together with its
pros and cons.
 Angel investors: It provides out all the important areas through which the carry out the
experience for the business and also then vestment is being made by the capital gain and
advancement with the exchange of practises. It provides the conventions and important
connections through which start up can be implemented with growth (Kompalla, and et.
al., 2017).
Strength
The mainly provide out the start of funds
through which the investors can thereby
maintain their business practices and also work
towards the growth and implementation of
success with proper decision making skills.
Weakness
This ensures all the excessive amount and
usually control of the business practices and
are being involved too much in all the funding
and investors processes through the
entrepreneurs means

 Venture capital: These are mainly the investors who are being able to provide the finance
and the skills through the basis of the talent that is being raised and also provide out the
capital gains and advancement for the business practises.
Strength
The helps out in the expansion and growth for
the company by maintaining proper investment
in the business and also in the believers.
Weakness
The manage out high amount of funding
through which the equity shares and the
important growth in the profit areas are being
flourished and maintained in a divided manner.
 Bank loans: It presumes all the important independent area which helps out to maintain
the start up a business practices and also cover out active participation in the market
practice through which the regular entrepreneur and the payment can be maintained for a
fixed term of areas of loans
Strength
These mainly provides of finance through
which the implementation of works and
important rules can be framed so that the
money can be invested in the proper business
practice
Weakness
All the amounts for the issue of the bank are
being framed out by the monthly installment
and the cash will have to be done with that
installment procedure.
QUESTION 2
Three different types of sectors which operate within the UK economy and the difference
between all. Comment on their value in UK economy.
Business is an advance manner which helps out to provide increasing of the practices
through which different approach and the sectors can be implemented it provides out
engagement of activities in which output and input can be added in the values for the
advancement in production. Some of the important implementations are being mentioned as
follows:

 Primary sector: This is mainly concerned with all the important raw materials that are
being extracted from the resources like renewable which frames like wind power,
fisheries, natural oil. And nonrenewable resources for instance minerals, mining of coal is
etc.all such business practices which provides out and being advance from the raw
material extractions are being covered in the rate. They are mainly fishing, mining,
farming (Cardoni, and et. al., 2020).
 Secondary sector: It implements out all the important distribution through which the
finished goods and products of the raw material are being extracted and they are being
covered and change in an important implementation and offering for the labour extensive.
Teritary sector: All the intangible areas through which the offering can be served out
through the hospitality, transportation, finance, accountancy and all the other services.
These are mainly the upcoming and the latest trending sector as it helps out to provide
enhancement in their business practises and gained out of labour productivity in growing
facilities. In UK their by focus on all the technical implementations and programs. For
instance Tesco plc, Sainsbury, Marks and Spencer’s etc
Basis Primary Secondary Tertiary
Meaning It focus out on the
important areas of
extraction of minerals
and the raw material
resources (Gogokhia,
and Berulava, 2021).
This provides out all
the important changes
that are being made in
the raw material in
order to apply it in a
finished goods and
products.
These are mainly and
services like leisure,
hospitality and many
more.
Working These work in the
traditional areas and
methods from
unorganised sectors
and methods.
These provide out all
the important reliable
production through
which all the
organised sectors are
being framed.
It provides out the
modern areas and the
logistic meaning
through which
functions of the
organisation and
execution it in framed

manner is important.
Employment rates It helps out in the low
preparation of all the
cost and also engage
in the machineries
that frame out to be
the minimum cost
areas in production
It mainly focus on the
employment and also
provide the average
amount through which
the declining and the
manufacturing units
can be implemented
through the
employment sector.
It tends to provide the
major areas of
population through
which organisations
can be implemented
in UK and it’s sectors
Value of UK economy: UK covers out the highest economic range as the cover of the six larger
areas in around globe in economical sector. They are mainly focusing on the growth and that in
hands meant of GDP through which we try to maintain the finance, entertainment and all the
details structure through which they contribute in the growth structure. It helps out to provide the
accountability and also the secondary implementation through which they contribute in the
17.41% for all the secondary sector and primary sector used to implement out in 0.61% for their
upcoming total areas of working.
QUESTION 3
Identify two HR policies and its importance in modern workplace.
Human resource management provides out the implementation of workplace strategy
through which all the employees are being managed and the proper working scenarios with an
effective strategies and policies are being considered. HR policies implement out the
responsibilities in order to maintain the rights and again through which the workforce can be
protected (Sushchenko, and et. al., 2017). All the important communication and their working
satisfaction is being clarified through the workforce environment. For the smooth functioning
HR policies that are being important in the organisational growth are being mentioned as
follows:

 Equality and Diversity policies: It is mainly that all the employees were being working in
the company used to be treated in an equal manner with proper proportionate and there
should not be any discrimination on account of race, gender, religion, caste, sex. As it
helps out to provide an equality act 2010 which serves out to provide an equal treatment,
equal wages and a proper timing sessions for the working employees. All this legislation
focus on giving the fair chances to the working employees and also to promote the justice
and fairness programs with valued added areas. HR policy can thereby try to implement
all such barriers in the training, development and promotion of the company when should
also focus on the Quality of working and the productivity through which the green and
advancement can be maintained for managing the perceptions and the cultural aspect of
the company.
 Health and safety: As in all the areas it is important to maintain the health and safety
issues for the workforce environment. So the company should try to maintain a safer
environment for their employees who are being working in the company and also with
them with the customers, employers and the visitors. The health and safety at workplace
is an act which used to be provided all the duties and the rights that the company should
follow by conducting proper protection methods and safety measures programmes for the
employees. It provides out the implementation and standards through which the
reinforcement of the clarification and also the demonstration regarding to their working
areas can be maintained (Randhawa, and et. al., 2021). Proper training sessions are being
given by the HR policies in order to maintain a safety measure and first-aid kits, Medical
facilities and all the legal consultancy through which the clarification and important
consistency is can be implemented. They should be taken proper measures in order to
reduce and eliminate all the risk that can be arise with the hazardous activities and the
machineries and the dangerous equipments that are being used in the organisations and
companies.
CONCLUSION
From this above report it is concluded that business plays an important role in order to
maximise the profit and also to generate the welfare for the society and the country. It focus on

the cultural growth and upliftment in the economic areas. The rising of revenues and also the
contribution for the standard of living in the individual programs are being maintained. Focus on
the different types of organisations like public, charitable, voluntary etc. Furthermore it is also
concluded that the finance sector like angel investors, bank loans used to play an important role
for the enhancement and the development of the company. And the primary, secondary and
teritary areas of the business are being framed to provide the upliftment of the organisational
growth
REFERENCE
Aleksandrova, and et. al., 2018, September. Business continuity management system. In 2018
IEEE International Conference" Quality Management, Transport and Information
Security, Information Technologies"(IT&QM&IS) (pp. 14-17). IEEE.
Cardoni, and et. al., 2020. A sustainable governance model to prevent corporate corruption:
Integrating anticorruption practices, corporate strategy and business processes. Business
Strategy and the Environment, 29(3), pp.1173-1185.
Gogokhia, T. and Berulava, G., 2021. Business environment reforms, innovation and firm
productivity in transition economies. Eurasian Business Review, 11(2), pp.221-245.
Hamidi, H. and Jahanshahifard, M., 2018. The Role of the Internet of Things in the Improvement
and Expansion of Business. Journal of Organizational and End User Computing
(JOEUC), 30(3), pp.24-44.
Kompalla, and et. al., 2017. Tailored automotive business strategies in the context of
digitalization and service-oriented models. Calitatea, 18(156), p.77.
Kuznetsov, and et. al., 2017, September. Creative tools of raising the competitiveness of business
on the basis of intellectual technologies of decision support. In Conference on Creativity
in Intelligent Technologies and Data Science (pp. 302-316). Springer, Cham.
Leminen, and et. al., 2020. Industrial internet of things business models in the machine-to-
machine context. Industrial Marketing Management, 84, pp.298-311.
Mosteanu, N.R., 2020. Socio-Financial Disruption–Key Tips To Manage And Ensure The
Business Continuity. Global Journal of Social Sciences Studies, 6(2), pp.87-95.
Nishiyama, T., 2019. The structure of managerial control: Who owns and controls Japanese
businesses?. In The anatomy of Japanese business (pp. 123-163). Routledge.

Ode, K.A. and Wadin, J.L., 2019. Business model translation—The case of spreading a business
model for solar energy. Renewable energy, 133, pp.23-31.
Randhawa, and et. al., 2021. How to innovate toward an ambidextrous business model? The role
of dynamic capabilities and market orientation. Journal of Business Research, 130,
pp.618-634.
Sushchenko, and et. al., 2017, November. Determination of electrical engineering business
entity's core fields of competence as sources of its competitive advantages. In 2017
International Conference on Modern Electrical and Energy Systems (MEES) (pp. 344-
347). IEEE.
Turner, T. and Gianiodis, P., 2018. Entrepreneurship unleashed: Understanding entrepreneurial
education outside of the business school. Journal of Small Business Management, 56(1),
pp.131-149.
Van Looy, A., 2019. Capabilities for managing business processes: a measurement
instrument. Business Process Management Journal.