Business Environment, Customer Service, and Sector Analysis Report

This report provides an overview of the business environment, focusing on the classification of public and private sectors, and the impact of customer service. It examines the differences between public and private sector organizations, including departmental undertakings, government companies, and statutory companies within the public sector, and sole proprietorships, partnerships, and multinational corporations in the private sector. The report also discusses voluntary sector organizations and their role. Furthermore, it highlights the importance of customer service and its impact on customer retention, including the benefits of retaining loyal customers. The report concludes with references to relevant academic sources.

HOW BUSINESS OPERATE

INTRODUCTION
 Business environment compromises of all internal and
external factors that affect overall function and operation of
company. It refers to the collection of individual, entities and
other factors which are may or may not be under the direct
control of company, but can influence the its profitability,
performance, growth and even survival.

Classification of Public and Private Sector
 Public organisation are normally run, managed and controlled by
Government Body of respective country. Public sector companies
mainly classified as:
• Departmental Undertaking
• Government Companies and
• Statutory Companies

Private Sector
 Private sector companies are owned and controlled by private
individuals. It can be classified as
• Sole Proprietorship
• Partnership
• Multinational corporation
• Co-operative Society

Voluntary Sector Organization
 Voluntary Organisation are mainly run with an aim of
providing benefit to society and its members. They are
managed and controlled by their volunteers who willingly
associated with such organisations.

Impact of customer Service
 It refers to the process of services given by every company
to its target customers so as to make them satisfied in an
appropriate manner. These services are given by company
to its potential buyers in order to provide them their goods
and services in an effective and efficient manner

Benefits of Customer Retention
 It has been believes that if company is able to retain 5%
loyal customers, then its profits gets increase up to 125%.
Retained customer brings new customer that indirectly
raise the overall profitability of the company.

REFERENCES
 Trevino, L.K. and Nelson, K.A., 2016. Managing business
ethics: Straight talk about how to do it right. John Wiley &
Sons.
 Werbach, K. and Hunter, D., 2012. For the win: How game
thinking can revolutionize your business. Wharton Digital
Press.