This report provides a comprehensive overview of business principles, encompassing various aspects of the business environment, functions, and team dynamics. It begins by differentiating between public and private sector organizations, providing examples, and then explores different business structures, with Marks and Spencer (M&S) as a case study, analyzing the impact of the local, national, and global economic environment on the company using a PESTLE analysis. The report delves into the importance of accounting for business success, the functions of the HR department, and key features of employment legislation. It further includes an accounting workshop, presenting and interpreting key accounting information using profit and loss accounts. The report also discusses team development stages, role analysis within teams, motivation theories, and leadership styles. Finally, it addresses the impact of customer service on business success and the benefits of customer profiling, providing a holistic view of business operations and management.
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