Types of Companies and Their Functions in Management

Types of
Companies

Table of Contents
INTRODUCTION ..........................................................................................................................3
Different types of companies and their functions in the management........................................3
Different companies from sole traders to cooperatives and limited liabilities partnership.........5
Consider different business structures and how external factors are affecting businesses.........8
CONCLUSION ...............................................................................................................................9
REFERENCES..............................................................................................................................11

INTRODUCTION
As there are different form of business in the field of the legal
structure that are figured as the form of business administration. It is an
organization of individuals that set about the administration activities in a
abstracted form of the business in a perceptual way with the common
framework. This report includes that various forms of companies and their
operations and functions. As well as it also covers the forms like sole traders,
cooperative and limited liability partnership(Baruffaldi, Accorsi, Manzini, 2019)
. The company considered in this report is Mark and Spencer. It partly
involves the business structures and their factors which are externally
affecting their business which includes management structures and PESTEL
analysis as per terms and values.
TASK 1
Different types of companies and their functions in the management
Various individuals who involves in the structural and values of the
business are consider as the common form to adjust the on going phase and
opportunities. As the growth and development in the management as on the
basis of liabilities, faculty and other controlling panels.
 Micro business: It is basically represents the term to employing nine
individuals or less than it in the administration. Asda operates the
individuals and managerial functions that requires less than $50,000
to start the administration company. Some of the examples for micro
business is Asda who compete Mark and Spencer and other business
administration that are considered as micro enterprise(Blanc Serrier,
Ducq, Vallespir, 2017) .
Characteristic of a micro business
Flexible to change: A micro business make their adjustments as according to
their management range in the organisation for analysing various sections.
Industry and skill specialisation: It tends to be specialise in the manner of
advisor with ability and knowledge at the maximise level in the market.

Low overhead expenses: The executives of the micro business with lower
cost that have fewer earnings to pay out with the less operational expense.
Independence for the non- committed: Mark and Spencer's individuals are all
set ready to choose their objectives and tracks as according to their terms
and values.
 Small business: It is generally termed as privately owned
corporations, partnership and sole proprietorship that have few
amount of candidates like Mothercare organisation that is being able to
offers the government support that is frequently enhance the
pattern(Carvache-Franco, 2020) . It varies the supporting and depending
term on the country and industry.
Characteristic of a Small business
Self employment: It concentrates on the self employment in the managerial
administration which is created by the value of primary intention to perform
the line of work.
Goal oriented: It concentrates on the plan of action that are requires in
individuals to achieve their goals and targets successfully.
Budget making: By creating budget in an organisation to initialise the actions
and functions about their role that how it performs in the sequence(Condé,
Cisel, 2019) . This is the sense of knowledge that phase it by funds and it
might also manage the decisions to orientated its target in the organisation.
 Medium size business: This type of business will considers as the
family owned business by managing their work and size of the
business of John lewis partnership that is well established and have an
observable record through which it will manage the complex in the
management structures that formulates the general entities.
Characteristic of a Medium size business
Consumer dealing: It enhance to analysis the negative consumer and turn
them into their positive consumer can also a key factor of medium size
business growth and development.