Different Types of Companies and Their Structures: A Business Management Study

Business Management with Foundation
Business in Practice
Assessment 1
Types of Companies
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1

Contents
Introduction 2
Section 1: Different types of companies and how they work
P
Section 2: Different companies from sole traders to cooperatives
and Limited Liability Partnerships p
Section 3: Different businesses structures and internal factors
affecting business p
Conclusion p
Reference List p
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Introduction
Management deals with various sections in the business to get effective and efficient
results. The suitable course of section of managerial structure will plays an essential role in
the manner of business. It is termed as social group of management that will set the manner to
manage the organizational course of task that are to be followed as suitably. It will include
various actions that have basic set of the management with course of perceptual sections with
set of opportunities (Aktepe, Yanık, and Ersöz, 2021). The following report will deals in
respective manner of business and their role and basic motive and the manner that how they
perform their work. It will include various form like sole traders, cooperative, partnership and
limited liability partnership. It will also consider the structure of management and their
components that will have an impact on organization in evaluating the diverse section of
business structure and PESTEL analysis.
Section 1: Different types of companies and how they work
As there are different sort of management that will consider the global manner of
management to performs operations and functions that will relates to the core values of
business. It will relates to the several sections in terms of related role of opportunities. As the
growth and advancement in the management will accomplished by effective and efficient
way that are as follows -
Micro business: It will basically involves 5 to 10 workers or less that it in the structure
of business. Micro business will have a balance sheet or turnover less than a specific term of
the value. The business of micro sector will have adequately $2,00,000 in annual sales. It will
require less than $50,000 to start in the field of area. For example, art and craft sector, trading
and many more.
Characteristic of a micro business
 Negotiable to change - A micro business organization have basic sort of structure to
understand how to maintain their business accordingly (Farkas, 2021). As per to the
functional value in an organization for evaluating the field of market.
 Business and ability specialization - It will demonstrates a manner that are to be
specify in the manner of authorization as according to the attribute and skills that will
maximize the section in the management.
 Low overhead expenditure - The executives in the micro business will have low
monetary cost and will also have low income to pay the operational value.
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