Report on Introduction to Business: Partnership, Porters, and Factors

This report provides an introduction to business, exploring key concepts such as business activities, partnership structures, and the application of Porter's Five Forces model. It defines business as encompassing selling, managing, and planning to sell products and services within an organization. The report then delves into partnerships, explaining their formation by two or more partners with a shared goal of generating profit, and discusses various partnership types, including general and limited partnerships. A case study applies Porter's Five Forces framework to a dessert shop, analyzing the threats of new entrants, substitute products, and bargaining power of buyers. Finally, the report examines the influence of macro-environmental factors, specifically political and economic factors, on business operations and performance, highlighting how government policies and economic indicators affect businesses, concluding with a reference list.

INTRODUCTION TO BUSINESS

Content
 Introduction
 Partnership
•Poter's five force model
•Three macro factors
 Conclusion
 References

Introduction
Business is that kind of activity that has been helping in selling, managing
and plaining to sell product and services that has been sold by an
organization. This is one of the most important part of an organization that
makes sure that business is being done in smooth and proper manner.
Business is related to various kinds of elements like commercial, industrial
and professional activities..

Partnership
Partnership is that business organization which is being formed that has
been by coordination of two or more then two partners. These
organizations are is being making partners come together with common
motive to make sure that profit is generated out of business started by
them. They are wholly responsible for the activities that is being done
within a business. In this partners hold limited liability. There are
various partners and different forms of partnership which is involved
within a business. In this partnership is being understood through multi
pal parties.

Partnerships
These are related by government, non-profit enterprises, businesses or
private individual. Another way is through joint venture that is taken
by two or more then two individuals major categories of partnership.
Partnership is general and limited partnership.
In general partnership all parties share within themselves any kind of
financial liability. These individuals is personally responsible for
debts within partnership. Profit is shared equally among partners. If a
partnership firm is specified then only agreement has to be formed
between partners willing to form business. The arrangement limits a
person and if one partners is sued then malpractices increases which
results into dissolution of partnership

Partnerships
These kind of partnership is hybrid within the nature and general
principals within limited liability. As per this one partners should be
general and holds limited liability over debts of partners.

Porters 5 Forces framework
Porters 5 Forces framework on Little Dessert Shop ( case study)
Threat of new entrant - Mary and sue both are business partner and
running a dessert shop named “ Little Dessert Shop”. Mary have
experience as a chef and sue have experience as a hospitality
manager so both are experienced in hospitality field. They set up .

Porters 5 Forces framework
Threat of substitute products – Dessert shops is always on demand
because most of the people like dessert. Mary and sue shop is very
popular in that area but they are facing good competition too because
there are many other shops which offering same products. Their shop
attract young children, adults and workers because they are providing
friendly environment and good services , quality products at low cost
that is convenient for the customers that is why customer do not
easily switch to another shop

Porters 5 Forces framework
Bargaining power of buyer-Mary and sue are offering their products at
low cost. They are using good quality organic ingredients in their
products that are very healthy for health that is why their demand is
growing day by day. Some products demand is high in summers
and low in winters. Sometime they do experiments on dessert dishes
so that time there is uncertainty and rink that customers will like
that experimental products or not. Their product price is very low
so that attract the customers and do not want to switch their shop to
make them loyal for their little dessert shop. That is why Mary and
sue have low force of bargaining power of buyers.

Macro environment factor
Political Factor
These factors determine the government policies and influence the
economy or industry. This can include tax policy, tariff,
bureaucracy, trade restriction. Political factors are greatly influence
the business. The government regulations can have significant
impact on infrastructure or health and safety guidelines. The food
industries or restaurants are responsible to take care of food from
purchasing cooking packing to delivery.

Macro environment factor
Economic Factor
In this economic growth ,interest rates,medium income of consumer,
unemployment rate, exchange rate factors are included, that
determine the performance of a certain economy. These factors are
affecting the purchasing power of customers. It could possibly
change demand or supply of company. Reduce the redundant
expenses. It may manage the expenses in a manner that affects
positively to company. When the export rate or taxes are increase
the product is also increase for customer, that affects the production
of company. They have good employees and they are able to do full
time in weekend. Due to covid19 pandemic the sales are decreased
in last 3 months and customer wants the prices are affordable to
middle class customers.

Conclusion
.From the above discussion it is clear that business is that kind of
activity under which monetary transaction is dealt with and is based
on professional activities. In this file partnership for of business firm
is formed that makes situations to be clear which is faced by an
organization and seeks over making establishment of an
organisation to start its business

References
Aleksandrova, S.V and et. al., 2018, September. Business
Continuity Management System. In 2018 IEEE International
Conference" Quality Management, Transport and Information
Security, Information Technologies"(IT&QM&IS) (pp. 14-17).
IEEE.
Buil, I., Catalán, S. and Martínez, E., 2018. Exploring students' flow
experiences in business simulation games. Journal of Computer
Assisted Learning. 34(2). pp.183-192.

References
Chittimalli, P.K. and Anand, K., 2016, September. Domain-
independent method of detecting inconsistencies in SBVR-based
business rules. In Proceedings of the International Workshop on
Formal Methods for Analysis of Business Systems (pp. 9-16).
Mrkajic, B., 2017. Business incubation models and institutionally void
environments. Technovation. 68. pp.44-55.

Thank You