BMP3002 Business in Practice Assessment 1: Types of Companies Report

This report, submitted for the BMP3002 Business in Practice course, examines various types of companies and business structures. It begins with an introduction highlighting the importance of business in generating revenue and employment, using Jaguar as a case study. The report then details different company types, including micro, small, medium, and large businesses, and discusses the characteristics of sole traders, partnerships, limited liability businesses, public limited liability businesses, and cooperatives. Section 3 focuses on organizational structures, comparing functional and divisional structures and their impact on business productivity. Finally, the report employs a PESTLE analysis to assess how political, economic, social, technological, legal, and environmental factors affect business performance, specifically in the context of Jaguar. The conclusion reiterates the significance of business in economic growth and employment generation.

BMP3002
Business in Practice
Assessment 1
Types of Companies
Submitted by:
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Contents
Introduction 2
Section 1: Different types of companies and how they work
2
Section 2: Different companies from sole traders to cooperatives
and Limited Liability Partnerships 4
Section 3: Different businesses structures and internal factors
affecting business 6
Conclusion 7
Reference List 7
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Introduction
The aim of the report is to examine that Business is important method through which
countries can gain maximum revenues and also generate profit by various goods and services
will be manufactured and sold (Nurhayati and et. al., 2018). This is mainly being made by
executing a proper planning and by implementing the services through which all the facilities
can be given and amended for the customers with the adverse technological aspects. UK
thereby have so many business companies of various sizes like small, micro, medium and
large and all those companies usually requires allocation of resources in a proper methods are
from working with employs it used to provide the benefits in order to maintain the framework
for like sole trader, cooperative, partnership etc. The organisation chooser in this report is
Jaguar it is headquartered in England, UK. It militants with all the important production of
Jaguar cars and the motor works. This report will cover the details regarding the companies
and the organisational structure with their macro environmental factors which are being
needed for the strategic performance
Section 1: Different types of companies and how they work
Companies are used to operate the business practices in order to enhance the living
standard of the individuals and in order to maintain the growth and employment for the
country. This mainly provides out to frame all the important local implications in areas that
are being used for generating the economic growth they are like as follows:
Micro business:
All those business which usually have less than 10 employees been working under
them and have an annual turnover made by them was of £2million. Will usually try to make
the profit and generation for the societies and the market segments and usually engage in the
business practises for their own personal growth and benefits (Farnsworth, 2020). We are
mainly being made by the business practices that are being covered by the unprivileged areas
of societies.
Small business:
The organisations of the company start used to cover a smaller segment of market
which have only 10 to 50 employees being working under them and they cover out annual
turnover for £10 million. They are being made in order to only profit for the local level and
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also to satisfy the new needs of local market areas. We try to meet the business in a loose kale
medium and also to connect with the various segments of swallow market sections.
Medium size business:
All those with a business which usually cover the micro and small business and also
try to attain the medium business practises they have mainly employees working from around
less than 250 workers and they used to cover about annual turnover of £50 million. This
business practices usually acquire heavy machineries for the production and also raise the
employment by obtaining the rural and the local areas of employees being working under
them (Bell, and Johnson, 2018). They usually approach to the suppliers and also through the
investors in order to Approach to expand your business practice and also to reach towards
this exemplary larger section of market areas.
Large size business:
Companies that are involved in global expansion of business practices and various
multinational organisations which have a massive annual turnover for more than £50 million.
And there were around more than 250 workers used to work in the companies play usually
covered the largest section in all the market areas and also try to raise the customer
satisfaction and demands. It also helps out to maintain good relations in accordance to trade
with other countries by the means of export and import facilities
Section 2: Different companies from sole traders to
cooperatives and Limited Liability Partnerships
Sole trader business:
All such company which is being handled by the single owner and it contains all the
duties and the obligations to be fulfilled by that individual. It amounts to provide the
strategies in the business that by single individual who have all the assets and the
responsibilities regarding the working of the organisaton.
Partnership:
Business which used to have two or more members being involved in their variable
practice is being known as partners. They used to cover and serve all the important decisions,
assets, profit, loss, liabilities all together in equal manner (Mutis, and Ricart, 2017). The
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registration is being done through HMRC the partnerships of the company is being indicated
to provide a proper funding and the relations in which they try to maintain the joint liability
and the working procedure is to be all together with their own means. As for example
McDonald’s used to cover the partnership company. If any of the decision is being taken
regarding the investment in the company then it will require all the partners to work together
an make the decision. The partnership company can be dissolved if any of the partner
declines to be the part of it.
Limited liability business:
This provides out when important areas for a hybrid business practice and have at
least two member that are being working under such organisations. It used to cover the
taxation policies that are being required for the business and also provides the flexible
advancement in the working situations with the goals that are being clearly defined with the
proper environment for working areas.
Public limited liability business:
These are mainly also business to cover all the liabilities that are been recorded for the
proper ownership function as they mainly have minimum 7 members that are being involved
in this business and they cover financial institutions of the legislative areas in the working
companies (Mugo, and Namada, 2020). It mainly provides a method through which all the
important funds and the money is being allocated and through which the tradable areas in the
stock exchange and the market values for the resources can be implemented out. This
business needs to cover a transparent areas and methods through which the trades in the
market can be framed out by proper ownership practice.
Cooperative:
The mainly have minimum 10 members that are being working under them and such
cooperative business news to cover out all the organised areas of segment of business practice
through which the limited equity shares and all the important areas for capital can be emerged
out. It requires a democratic management through which the funds and the dividends can be
maintained so for the development of the company.
Section 3: Different business structures and external
factors affecting business
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3.1 Identification of different organizational structures and
explaining how does organisational structure affect business
productivity
Organisational structures is the most important area for all the business as it provides
out the methods through which all these companies use to maintain their business and also
the method through which they expand their coordinating sectors in the ways in which they
implicate their organisation. It provides a proper creation and coordination in the working
areas. This provides all the methods through which implementations of important decision
making process can be made in all the segments of working can be properly informed and
research.
All such organisational structures helps out provide the working effect of the
company some of which are mentioned below:
 Functional organisational structure: It is mainly such kind of structure which
usually provides methods in order to working segment and to properly allocate the
working right areas and dividing of work with proper knowledge and skills. This is
mainly the vertical structure which provides out the responsibilities and a proper
implementation of rose in which the departments are being segmented and divided for
various management functions and proper working employees are keep checked by
the managers who are being appointed for that particular department (Serly, 2021).
Jaguar used to have functional organisational structure as they maintain proper
divisional work through which day segment out various department of their
employees and try to train them according to them so that a proper research methods
and investigations can be made regarding the working procedures.
Figure 1 Functional organisational structure, 2020
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 Divisional organisational structure: It covers out various divisions of group to which
the functionality and also the allocation of resources with proper product line can be
framed out they cover out series in channels of departments through which the
working areas and can be implicated out. It provides out to reach the supply demands
of the customers and also to give the strength for all the financial areas and respect in
the working segments. It provides out the method in which ll the classified
departments and there working is being channeled it provides out the managers who
use to work in the pertaining areas for the growth and the development.
3.2 How different external factors affect the performance of a
business – PESTLE Analysis
It is mainly a tool which helps out to analyse all the macro environmental factors
through which the identification of various requirements can be implemented as in context to
Jaguar it is been mentioned as follows:
 Political: It mainly covers all these legal regulations and the policies that are being
given for the operational systems of the companies through which they try to maintain
and regulate their working areas as for Jaguar the usually have the majority of market
sections been covered under it so they have increased areas of government support
and also a proper automations of the working criteria (Lee, and Huh 2017).
 Economic: This provides out all the investment regarding to the Methods of working
and the financial resources that can be inflation, recession, interest-rate all such are
being covered in it. Jaguar usually have high growth rate in various segments of
developing countries. And it also provides a disposable income for all the growing
middle class segments.
 Social: This provides out the demographic changes Through which the requirements
of the demands of the customers can be framed so that It provides out the methods are
working and the demands to be fulfilled as Jaguar used to focus on increased level of
diversity in cultural aspect and also try to maintain high quality of customer service
by providing them all the requirements in their cars.
 Technological: It mainly covers out all the online in the digital platforms that is being
used by the company is in order to increase their sales and the demand for the
revenues. As Jaguar used to have positive approach towards it as it covers of the rapid
adoption for all the auto mobile technological advancement and also increase the
duplications of volume by auto mobile parts.
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 Legal: All the important legislations and the rules that are being laid by the
government are being covered in this factor as Jaquar YouTube cover the regulations
regarding their energy consumption and they are trying to have as they cover weaker
section In there patent law so they are trying to improve it as needed.
 Environmental: It covers out all the sustainable changes and the advancement that
will be needed for the global environment change. As for Jaguar they usually deal
with all auto mobile areas of segments and the technological advancement and try to
maintain a proper environmental protections campaign by increasing their auto mobile
parts with a duplicate energies and saving procedure (Cheinman, and Bishop, 2019).
Figure 2 PESTLE Analysis, 2020
Conclusion
As from all the above analysis it is concluded that business is an important part which
helps out an expansion of countries and also to provide employment and generation of
revenues. There are numerous types of practises in business like divided according to the size
and scale is small, large, micro etc. Jaguar used to have functional organisational structure
through which they try to implement proper departmental sections and commands. PESTLE
analysis provides macro environmental factors in order to implement the Strategies for
organisational growth.
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Reference List
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