Business Essentials Report: Objectives, Partnerships, and Significance

This report delves into the core aspects of business essentials, focusing on the importance of clearly defined objectives and strategic partnerships. It examines the objectives of a company, particularly highlighting the benefits of offering oil-free food, expanding market share, and providing top-quality services. The report then explores different forms of ownership, specifically focusing on general partnerships and their advantages, such as shared financial burdens and increased capital availability. The report provides practical examples, illustrating how partnerships can support the launch of new ventures and the introduction of innovative products. Finally, the report emphasizes the significance of adhering to quality standards to build trust among consumers, thereby gaining a competitive advantage. The report concludes with a list of references to support the analysis.

BUSINESS ESSENTIAL
(PART B)

TABLE OF CONTENTS
MAIN BODY...................................................................................................................................4
REFERENCES................................................................................................................................5

MAIN BODY
Objectives of the company
 To deliver the best quality as well as fast food free of oil to entice the customers.
 To expand and become the organization operating at the international level across the
world.
 To provide world class services to new as well as the existing customers
 To incorporate transparency in each and every aspect by adhering to food quality
standards
Importance of objectives
The importance of the first objective which relate to offering oil free meals is that
providing the customers with the organic food which will contain all the nutrients and hence will
reduce all disease like obesity, heart attack, cholesterol etc. The importance of second objective
is that through the expansion, company will acquire greater market share along with increased
customer base and hence will increase revenue. Significance of offering top quality services is
that it attract consumers & suppliers from across the world and thus enhances the overall
performance of company. Importance of the last objective is that complying to the standards will
increase the trust among the consumers and hence will organization to gain competitive
advantage.
Forms of ownership
General partnership is basically the ownership form in which two or more than two
individual or entity associate in order to carry out the business. In this, the partners enters into a
partnership agreement and thus shares the profit and loss incurs to the company. This form of
ownership is most suitable because the profit and loss incurred to the company are not bared by
only one but by the partners (Artunç and Guinnane, 2019). Another significance is that more
capital remains available to the company and hence the start up cost is low. For example As
Healthy Qila is planning to introduce oil free food for the consumers thus due to its partnership
with other companies, the profit & revenue which will be generated through this product will be
shared by both. Another example is that as Heath Quila is starting a new business therefore
capital; will be required for this like money for machineries, office etc. Through the partnership,
both the partners will contribute equal amount of fund and thus their start-up cost will reduce.

REFERENCES
Books & Journals
Artunç, C. and Guinnane, T.W., 2019. Partnership as Experimentation. The Journal of Law,
Economics, and Organization.