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Business Environment Assignment | Types of Business Organisation

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Added on  2020-01-07

Business Environment Assignment | Types of Business Organisation

   Added on 2020-01-07

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BUSINESSENVIRONMENT
Business Environment Assignment | Types of Business Organisation_1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1 Identification of purpose of various types of organisations................................................ .31.2 Describing the extent to which an organisation meets objectives of different stakeholders.41.3 Explanation of responsibilities of an organisation and strategies employed to meet them. .5CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
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INTRODUCTIONBusiness environment can be defined as the external and internal factors which influencecompany's functions. Stakeholders are the important components of business environment whichincludes customers, employees,management, business regulations, competitors, suppliers,government, etc. (What is Business Environment? Explain its types, 2016). In this project report,discussion will be made on the types of business organisation and the way in which these firmsmeet the goals of business and different stakeholders. This report is going to analyse anddetermine the requirement of business of Waitrose and their responsibility regardingstakeholders. The mentioned firm is a popular supermarket which deals in food retailing in UKmarket.TASK 11.1 As per the given scenario, business environment consists of forces which largely affectorganisation’s performance. There are various types of business enterprises that have differentpurposes and ownership. These are defined henceforth-Private company- In this sector, businesses are owned and run by private individuals.This type of enterprise is operated in two ways that is either in the form of sole tradersand partnership or may be as a company. Main aim of private enterprise is to earnmaximum profit and increase market share by enhancing the sale of products andservices. Examples are Cambridge satchels, Harrods group, etc.Government company- Businesses of this sector are owned and run by the government.They perform operations through public funds. Objective of these types of businesses isto provide essential public services and make maximum use of resources for the profit ofcommunity (Alshamaila and Papagiannidis, 2013). Main aim of these organisations istoprovide social welfare as only profit earning is not their major objective. Public company- These firms issue securities through an initial public offering and tradethem in at least one stock exchange. Major objective of this type of business is tomaximise shareholder’s wealth by generating high profit and enhancing organisationalgrowth. Examples of this sector are TESCO, Sainsbury and Waitrose.
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