Premium Essay

Identify the Purpose of Four Different Businesses Organisations

In:

Submitted By naymul
Words 1219
Pages 5
In this piece of writing I will be exploring all types of businesses there is. Businesses such as Sole Traders, Public Limited Companies and charities etc… I will write about what features there are and give examples as well.
Sole Traders
Sole trader is a business which is controlled and owned by one individual person. It is the smallest type of business there is. The owner is responsible for all decisions, debt and profit. The owner receives all profit in the company. Many of the decisions can be made quickly and easily making it simple to manage and organise. There are also many disadvantages; it is unlimited liability therefor if the company becomes bankrupt, the owner loses everything: his/her house, car and any other possessions that seems to pay off the debt. The business will also have low assets seeing as it is a lone trader. He/she will have no investments which other companies have, less backing from the government meaning fewer funds. These types of businesses are very small. Many multi-millionaire businesses have been started from sole trading, the most well-known traders who have become massive business tycoons are Lord Alan Sugar and Duncan Bannatyne. Such examples of sole trading businesses are DIY, plumbing, electric work etc…
Partnership
A partnership is a business which is owned but 2 or more people. Partnerships are made after signing a contract or deed which states how much profit each partner will get. Each partner will have a separate responsibility which is needed to keep the company afloat and running. General partners mean all of the partners have equal rights running the business; some partnerships also have dormant partners who invest but do not help run the business at all. Partnerships are also like Sole Traders an unlimited liability. Partnerships are local based; the most well-known formats of partnerships are lawyers, accountants

Similar Documents

Premium Essay

Business

...BTEC Business Unit 1: Business Purposes Learner Name: | Centre Number: 23168 | BTEC Business | | Learner No: | | UNIT NUMBER AND TITLE: | Unit 1: Business Purposes | ISSUE DATE: | | HAND IN DATE: | | RESUBMISSION DATE: | | ASSESSOR: | | Aims The aim of this unit is to enable you to understand the nature of business organisations and the business environment in which they operate. You will do this by looking at the range of organisations that exist locally, regionally and nationally and by considering the business framework in which they operate Work covered You will: * Understand the purpose and ownership of business * Understand the business context in which organisations operate Understand the purpose and ownership of business Purpose: supply of goods and services e.g. at a profit, free, at cost, for sale below cost Ownership: sole trader; partnership; limited companies (private [ltd], public [plc]); charity; voluntary organisations; co-operatives; government Size: small; medium; large Scale: local; regional; national; European and global organisations Classification: primary (e.g. farming, forestry, fishing, extraction/mining); secondary (e.g. manufacturing, engineering, construction); tertiary (e.g. private service industries, local and national public services, voluntary/not-for-profit services) Understand the business context in which organisations operate Role of government: European; national;...

Words: 786 - Pages: 4

Premium Essay

Pestel

... | | | | |Date Set |20/9/2012 |Deadline |01/9/2012 |Unit No. |1 | | | | | | | | | | |Internal Verifier | |IV Signature |      |Unit Title |Business Purposes | | | | | | | | | | |Assignment 1 |Criteria targeted by this assignment | |...

Words: 361 - Pages: 2

Premium Essay

Understanding the Organisational Purposes of Businesses

...Environment Unit: 1 Title: Business Environment Purpose: The aim of this unit is to provide learners with an understanding of different organisations, the influence of stakeholders and the relationship between businesses and the local, national and global environment. Date Set: 13/09/2011 Deadline: 29/09/2011 Learning Outcomes: LO1: understand the organisational purposes of businesses LO2: understand the nature of the national environment in which businesses operate Activities: • Purposes of organisations (1.1, 1.2, 1.3) • Nature of the national environment businesses operate in (2.1, 2.2, 2.3) Specific Assessment Guidance: • Read all questions carefully. • Use appropriate business terminology when answering questions. • Make sure sentences have correct grammar. • All work to be produced on Word processing software in an academic format. • Only use credible sources to support your work • Internet articles, books, appropriate magazines and newspapers can be used as sources of information • Harvard referencing or an appropriate referencing system must be used REMEMBER TO SIGN, DATE AND ATTACH THIS FRONT COVER TO YOUR WORK Grading method: Pass, Merit, Distinction Student Name: I confirm that the submitted work is entirely my own. Signed: Date: BUSINESS CONSULTANCY: AJ CLOTHING As part of your job you have been asked to provide a briefing on information that will help a Clothing company develop its business in the UK WITH OTHER BUSINESSES IN THE European markets. This information...

Words: 1187 - Pages: 5

Premium Essay

Unit 1

...BTEC First Unit 1: Business Purposes Learning outcomes By the end of this assignment you should: • Understand the purpose and ownership of a business. • Understand the business context in which organisations operate. Scenario You have got a job working in the business advisory service of the county council. As part of your job you have to produce materials to explain various aspects of the business world to students and people thinking of starting their own business. These tasks should reflect what would be required for such a job and should be set out with this in mind. |Sole Traders or Partnerships |Companies |Government Organisations |Charities | |Happy Garden Takeaway |Tesco PLC |The Post Office |Oxfam | |Berry & Berry Solicitors |Royal Bank of Scotland |Railtrack |Demelza House Hospice | |Geoff Wood Painter & Decorator |JCB Ltd |Kent Police |Children in Need | |The Blue Anchor |H+H Celcon Ltd |University of Greenwich |RSPCA | Task 1 Taking one organisation from each column of the table above, research and describe details of each business in terms of: • The purpose of each organisation [P1] • Who owns each organisation and what this means. [P2] ...

Words: 555 - Pages: 3

Free Essay

Business Environment

... | | |Assignment title |Businesses and Their Interactions with National Environment | | | | | |This assignment encourages learners to identify purposes of different types of organization and to | | |investigate the national environment in which businesses operate, which correspond to Learning Outcome 1 and | | |Learning Outcome 2 of the unit/course. | | |Scenario: | | |You have just become an analyst in a mutual fund which operates both in Vietnam and the United Kingdom (UK). | | |As part of the new employee training program, your direct supervisor gives you an assignment where you need | | |to do research on different organizations in both countries as your potential investment targets. In | |...

Words: 2044 - Pages: 9

Premium Essay

Essay

...Assignment Introduction The assignment is aimed at providing you with an understanding of different organisations, the influence of stakeholders and the relationship between businesses and the local, national and global environments. Learning outcomes On successful completion of this assignment you will be able to: 1 Understand the organisational purposes of businesses 2 Understand the nature of the national environment in which businesses operate 3 Understand the behaviour of organisations in their market environment 4 Be able to assess the significance of the global factors that shape national business activities. Assignment Focusing on a work role, previous work experience or a voluntary work position, using examples from your own workplace experiences where possible, and drawing on your studies of this subject, please answer ALL four sections below. Deadline for Submission: Please see your time table Please answer ALL four sections: Section 1 Word Length: Approx. 1500 words Understanding the organisational purposes of businesses You will need to:    identify the purposes of different types of organisation describe the extent to which an organisation meets the objectives of different stakeholders explain the responsibilities of an organisation and strategies employed to meet them Section 2 Word Length: Approx. 1500 words Understanding the nature of the national environment in which businesses operate You will need to:    explain how economic systems attempt to allocate...

Words: 1091 - Pages: 5

Premium Essay

Notes

...you with an understanding of different organisations, the influence of stakeholders and the relationship between businesses and the local, national and global environments. Learning outcomes On successful completion of this assignment you will be able to: 1 Understand the organisational purposes of businesses 2 Understand the nature of the national environment in which businesses operate 3 Understand the behaviour of organisations in their market environment 4 Be able to assess the significance of the global factors that shape national business activities. Assignment Focusing on a work role, previous work experience or a voluntary work position, using examples from your own workplace experiences where possible, and drawing on your studies of this subject, please answer ALL four sections below. Deadline for Submission: Please see your time table Please answer ALL four sections: Section 1 Word Length: Approx. 1500 words Understanding the organisational purposes of businesses You will need to:    identify the purposes of different types of organisation describe the extent to which an organisation meets the objectives of different stakeholders explain the responsibilities of an organisation and strategies employed to meet them Brighton School of Business and Management Limited Brighton School of Business and Management Limited Section 2 Word Length: Approx. 1500 words Understanding the nature of the national environment in which businesses operate You will need to:  ...

Words: 1159 - Pages: 5

Premium Essay

Business Strategy

...difference between each point and the role they play in the operation of a business, I will be reviewing the issues involved in strategic planning and explain the different planning techniques. 1. Explain strategic contexts and terminology – Missions Visions Objectives, Goals, Core competences About Walkers Walker is a British snack food manufacturer operating in the United Kingdom and Ireland and to a lesser extent on the European continent. They are best known for manufacturing crisps, and other non-potato based snack foods. They hold 47 per cent of the British crisp market. The Walkers site in Leicester is one of the largest crisp production plants in the world, producing over 11 million bags of crisps per day and using about 800 tons of potatoes Mission This involves the purpose that the organisation seeks towards to achieving; this is known as the mission. Having a mission is an important factor in an organisation as this will be as the number foundation to keep the business determined to achieve their mission. The mission needs to be realistic given the organisation’s existing resources and capabilities and to provide a clear focus for organisational activity. Mission Statement Mission Statement define the fundamental unique purpose that sets the company apart from other firm of its type and identifies the scope of the company’s operations in terms of the goods and services offered and markets served. It might also include the firm philosophy about how it does...

Words: 2224 - Pages: 9

Premium Essay

Business Purpose

...|Unit Title: |Unit No:1 |Date Issued | |Business Environment | |Week beginning 11/02/13 | |Student Name |Student ID |Due Date – 03/06/13 | |Lecturer Name: Ibrahim kevin, Sujata,& Issac |Internal Verifier Name | | |Mr. M. Azam | Rules and regulations: |Plagiarism is presenting somebody else’s work as your own. It includes: copying information directly from the Web or books without | |referencing the material; submitting joint coursework as an individual effort; copying another student’s coursework; stealing coursework from| |another student and submitting it as your own work. Suspected plagiarism will be investigated and if found to have occurred will be dealt | |with according to the procedures set down by the College. Please see your student handbook for further details of what is / isn’t plagiarism.| Coursework Regulations   1. Submission of coursework must be undertaken according to the relevant procedure – whether online or paper-based. Lecturers will give information as to which procedure must be followed, and details of submission procedures and penalty fees can be obtained...

Words: 2134 - Pages: 9

Premium Essay

: Business Environment

...Catalog 1. Introduction 1 2.Identify the purposes of different types of organisation. 2 2.1 Differentiate the types of organizations 2 2.2 Describe the purposes of the organizations separately 3 2.3 Analyze the purpose of The Body Shop 3 2.4 Summary 4 3.Describe the extent to which an organisation meets the objectives of different stakeholders 4 3.1 Analyze the stakeholders' needs in The Body Shop 4 3.2 Describe how managers meet the interests of various stakeholders 5 3.3 Summary 5 4.Explain the responsibilities of an organisation and strategies employed to meet them. 5 4.1 Explain the responsibilities of an organization in theory 5 4.2 Analyze the responsibilities and strategies which are committed by The Body Shop. 6 4.3 Summary 7 5.Explain how market structures determine the pricing and output decisions of businesses 7 5.1 Identify the four types of market structures 8 5.2 Analyze which market structure The Body Shop belongs to 9 5.3 Summary 10 6.Illustrate the way in which market forces shape organizational responses using examples 10 6.1 Identify the five forces and explain how they impact on competition 11 6.2 Illustrate the relationship between market forces and The Body Shop's responses 12 6.3 Summary 12 7.Judge how the business and cultural environments affects organisation 12 7.1Give an understanding of how "business" and "cultural" affects The Body Shop 13 7.2Show why "business" and "cultural" environments...

Words: 4176 - Pages: 17

Premium Essay

Chapter 6 Corporate-Level Strategies

...this chapter, you should be able to: Introduction 1. Understand corporate strategy and identify its components. Corporate Strategy 2. Evaluate and identify different approaches to corporate strategy development. The Portfolio Approach 3. Understand how organisations can create and sustain the multibusiness advantage. Corporate Strategy and Adding Value 4. Appreciate how different corporate strategies could add value to a corporation. 5. Appreciate the complexities of developing corporate strategy at the international level. The Core Competence Approach Creating and Sustaining the Multibusiness Advantage Corporate-Level Strategy in the International Perspective Summary Study Questions References and Further Readings 109 110 CHAPTER 6: Corporate-Level Strategies Opening Case The case study organisation is one of the largest international hotel chains operating in more than one hundred countries with its internationally recognised brands. However, the company does not have a culturally diverse workforce at the senior level. It usually recruits executives to the key decision-making positions either from the United Kingdom or the United States. In this respect, it is defined as Anglo-Saxon. Some people argue that the company should get the best from other nationalities involved in the development of an organisation’s strategy. Different nationalities holding senior positions in the company would not only facilitate the organisation’s...

Words: 5817 - Pages: 24

Premium Essay

My Work

...Mohamed Al Qasemi Level 4: Extended Diploma in Management Table of Contents Particulars | Page No | 1.1 Identify the purposes of different types of organisation | | 1.2 Describe the extent to which an organisation meets the objectives of different stakeholders | | 1.3 Explain the responsibilities of an organisation and strategies employed to meet them | | 2.1 Explain how economic systems attempt to allocate resources effectively | | 2.2 Assess the impact of fiscal and monetary policy on business organisations and their activities | | 2.3 Evaluate the impact of competition policy and other regulatory mechanisms on the activities of a selected organisation | | 3.1 Explain how market structures determine the pricing and output decisions of businesses | | 3.2 Illustrate the way in which market forces shape organisational responses using a range of examples | | 3.3 Judge how the business and cultural environments shape the behaviour of a selected organisation | | 4.1 Discuss the significance of international trade to UK business organisations | | 4.2 Analyse the impact of global factors on UK business organisations | | 4.3 Evaluate the impact of policies of the European Union on UK business organisations | | Introduction Understanding the Business Environments hep us understand how an organisation or business runs and what manager roles are and what a stockholder is and how environment in the business or outside...

Words: 3632 - Pages: 15

Premium Essay

Swswws

...examples of how the Internet is used by selected, contrasting businesses 1 M1 demonstrate how to solve problems in Internet use for four different types of business activity Links to PLTS 2 Student Declaration I certify that the work I will submit for this assignment will be my own independent work. I will also source all the reference material I have used as my research. Signature: Date: 1 Edexcel BTEC Level 3 in Business Unit 33 The impact of communications technology on business Start date: Mon 13 Oct 2014 Assessor: Mr C. Tsangari Deadline date: Fri 24 Oct 2014 Assignment two “How the Internet can be used in Business” Purpose The purpose of this assignment is to provide a framework so you can:  be able to use the Internet and related technology for a range of business activities Scenario You are advising a group of local small - to medium - sized businesses which are considering creating fully transactional websites. Now your clients want to know more about how the web can help their businesses. TASKS Completed Task 1 (P2) Investigate and describe in a presentation examples of how the Internet can be used for different types of business activity (for example, selling, persuading, promoting, Informing, offering a service) using contrasting types of business. Grading tip    There are so many websites online for business purposes these days you have a vast range of sites to choose from. Consider ...

Words: 372 - Pages: 2

Premium Essay

Business Environment

...Understand the organisational purpose of business ___________________________________________________________________________ 1.1 Identify the purpose of four different types of organisation. 1.2.1 Introduction Business organisation is formed of relationship, responsibility and authority, which aims to meet their targets and ultimately achieve them. Organisations are formed by people for two main purposes. An organisation can be formed by a person or a group of people aiming to make a profit. In the same way a person or a group of people can start an organisation with the purpose of providing services to themselves or for the society with the main purpose of running the business is not a profit. According to Buchanan and Huczynski an organisation is described as 'A work organisation is a social arrangement for the controlled performance of collective goals' (Buchanan and Huczynski, (2004). The Business Dictionary defines the organisation as ‘a social unit of people that is structured and managed to meet a need or to pursue collective goals’. All organisations have some function to perform and they exist in order to achieve objectives and to provide satisfaction for their members. Mullins with Christy (2010). Organisation business purposes are usually affected by the environment. That can be explained as either internal or external environment. This assessment will explain how the environment affects business organisations and the actions taken by...

Words: 2155 - Pages: 9

Premium Essay

Be Assisment

... | |26th January 2015 |27th March 2015 before midday | | |Assignment title |Business Environment - Shaping Your Future – A Vocational Scenario | |LO |Learning Outcome |AC |In this assessment you will have the opportunity to present evidence that |Task no. |Evidence | | | | |shows you are able to: | |(Page no) | |LO1 |Understand the |1.1 |Identify...

Words: 13152 - Pages: 53