BSC (Hons) Business Management: Business in Practice Exam

This document provides a detailed solution to a Business in Practice exam for the BSC (Hons) Business Management with Foundation program. The solution addresses key concepts in business, including different types of companies (micro, small, medium, and large businesses), their characteristics, and examples. It also covers organizational structures, such as divisional and functional structures, and their impact on business productivity. Furthermore, the solution analyzes how various external factors, as outlined in a PESTLE analysis (Political, Economic, Social, Technological, Legal, and Environmental), affect the performance of a business. The document offers a comprehensive understanding of business operations, structure, and the external environment, supported by relevant references, and is designed to aid students in their understanding of the subject matter and exam preparation.

BSC (Hons) BUSINESS MANAGEMENT WITH
FOUNDATION
SEMESTER 1, EXAMINATION 2021/22
BUSINESS IN PRACTICE
MODULE NO: BMP3002
Exam Paper Release Date & Time: Saturday 13 August 2022 at 10:00am
Submission Cut-off Date & Time: Monday 15 August 2022 at 10:00am
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ANSWER BOOKLET
All the pages of the answer booklet should be submitted including blank ones.
Please type your answers in the spaces provided.
Insert additional pages where required.
Student Name
ID Number
[Start writing you answer from this page. There are THREE questions. You are required to
answer any TWO questions. For each sub-questions, use heading such as “Answer to the
Question no. 1(a)” or “Answer to the Question no. 3(b)” etc]
1. You are to show an understanding of the different types of companies and
how they work. You are required to answer ALL five questions below:
(Total 50 Marks)
I. Discuss the main criteria used for classifying different kind of businesses?

Business corporations shows where the technique of commercial business our systematic
and structured in accordance to achieve the long term task and objectives of the organization as in
an effective and as well as an efficient manner.
II. Explain microbusiness with appropriate examples.
Micro business:
Micro businesses consist of almost 10 workers in its functions and it is commonly the
important component of the economy of the Britain. Moreover to this the main example of the
micro businesses are boss brewing, beauty Boulevard and several others as in an effective and as
well as an efficient manner (Calandra, and et.al., 2022).
Characteristics -
 In micro businesses where are workers that are performing the operations of the business are
around almost 10 not more than that that is why it is known to be the micro business.
 In this type of the organization decision maker or the top level management is
only the single individual that is the owner of the organization.
III. Explain small business with appropriate examples.
Small business:
Small businesses refers to those type of the commercial businesses which are owned as well
as managed by the single person and in this commercial business there are around 40 employees
that are performing in the company for the betterment and long term sustainability and success of
the organization as in an effective and as well as an efficient manner. Moreover to this milk
booth, electrician, technician, flower shop are few of the basic examples of small businesses that
perform in the specific market area in an efficient as well as effectual way.
Characteristics -
 Small businesses are known to be very flexible as well as open for any type of major
changes as well as dynamic modification in the functioning of the business.
 Decision maker as well as liable for losses and owner of the prophet as only the
single individual who is known to be the owner of the organization in small
businesses. It is also refers to the soul proprietorship as well.
IV. Explain medium size business with appropriate examples.
Medium size business:
This type of commercial business refers to the employees and staff which are performing in
the organization will having more than 250 workers for the long term growth and success of the
business (Dobni, Wilson, and Klassen, 2022). Medium size businesses are basically responsible
for observing as well as monitoring every of the activities and functions of the business as in an
effective and as well as an efficient manner. For instance land Bay add the spirit group of
health and farmers are known to be few of the example of the businesses that belongs to this
category.
.
Characteristics -
Medium size organization are known to be more offer labour intensive and it does not involve
costly as well as expensive and heavy machinery and plant in the functions of the organization that
can be accomplished ineffectual and effective way possible in the market area as in an effective
and as well as an efficient manner (Grisold, and et.al., 2022).
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 This type of commercial business door organization focus and operate their
operations in domestic and local market area or long period of time which offer
them support in accordance to manage suitable bond with their customers for
the long period of time in the market area.
V. Explain large size business with appropriate examples.
Large size business:
These organization refers to be the large scale businesses which are possessing ebens level of
investment as well as resources and can function their operations globally and can also assist
increasing the economy rate of the nation as well. In this type of the business employees
concentrate on reporting to the higher level management with the assistance of their leaders if they
are having any problem and difficulty.
Characteristics -
 These businesses have sufficient resources as well as capital in accordance to offer suitable
support in scaling the operations of business in to the Newmarket area and also possessing
the edge over the rivals of the organization in the market area.
 In large size commercial businesses the target market area of the organization
can be the global market or it can also be the local industry where the
commercial business can focus in functioning their operation through selling the
goods and services to the consumer base that belongs to the international
market area as in an effective and as well as an efficient manner (Harrison, 2022)
.
Section 3: Different business structures and external factors
affecting business
3.1 Identification of different organizational structures and explaining
how does organizational structure affect business productivity
An organizational framework with the system that maintain the activities and as well as function to
achieve the criteria of objectives and as well as target of the business as in an effective and as
well as an efficient manner. It also include the roles and as well as suitable liabilities that
determine the source of data that frame in the suitable aspect to develop the business (Yeon, and
Jang, 2022).
Various organizational structure affects business productivity
 Divisional structure – It assemble the activities of business according to
geographical, market, service or products group. The functions of organization
are distributed into semi autonomous parts which is known as divisions.
 Functional structure – It is utilized to organize the workers of company. Here
employees are gathered on the basis of their knowledge and skills.
3.2 How different external factors affect the performance of a business –
PESTLE Analysis
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 Political Environment. - It relays to the frequent way that include the government and
their section in the orientation to manage the several criteria. It covers tax policies, financial
policies, and so on (Lumpkin, and Bacq, 2022).
 Economic Environment - It make sure the overall presentation according to the
economical sources of the business that have the power to lead the inflation level and will
have an impact on the cost of goods and as well as facilities in the way to increase the
result of the business as in an effective and as well as an efficient manner.
 Social Environment - The social factor deals with the manner of facilities that evaluate the
market trends population analysis. It generally have affective level of demand performance
section in the company (Zhang, de Jong, and Gosselt, 2022).
 Technological Environment - This factor will make sure the creation of several sections of
criteria’s to maintain the overall market orientation that operates with the suitable tools and
as well as approaches according to the current market analysis.
 Legal Environment – Having both sections of internal and as well as external factor that
will have an impact on company atmosphere in the suitable manner. The legal criteria that
evaluate the target in the framework of the business to make sure the safety standards
customer laws and as well as labour laws as in an effective and as well as an efficient
manner.
 Environmental - By having the surrounding that rely on the climate, global variations in
climate and so on that will have an impact on the management (Roberts, and et.al.,
2022).
From the above mention report it has been concluded that the financers and as well as
investors that are having suitable sources to maintain several functions and as well as
areas of company to analyse it as in an effective and as well as an efficient manner. The
organization operates with the customers in as well as overall purchases in the suitable
areas of market to present their perception of their quality.
Reference List (if Any)
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Calandra, D., and et.al., 2022. The link between sustainable business models and
Blockchain: A multiple case study approach. Business Strategy and the
Environment.
Dobni, C.B., Wilson, G.A. and Klassen, M., 2022. Business practices of highly innovative
Japanese firms. Asia Pacific Management Review, 27(3), pp.155-162.
Grisold, T., and et.al., 2022. The five diamond method for explorative business process
management. Business & Information Systems Engineering, 64(2), pp.149-166.
Harrison, J., 2022. Inaugural Women in Business Law Global Awards. International Tax
Review.
Jitpanich, T., Leong, L.M. and Ismail, S.A.M.M., 2022. Assessing the English Writing
Needs of Undergraduate Business Administration Students for ESP Writing
Course Development: A Case Study in Thailand. LEARN Journal: Language
Education and Acquisition Research Network, 15(2), pp.104-128.
Lumpkin, G.T. and Bacq, S., 2022. Family business, community embeddedness, and civic
wealth creation. Journal of Family Business Strategy, 13(2), p.100469.
Roberts, D., and et.al., 2022. Business resilience. A practical guide to sustained progress
delivered at pace.
The End
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