Business at work

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Introduction What I need to do? In this coursework I need to produce a detailed business report on one medium–sized or large business. In investigating a chosen Case Study I must comment and analyze each of the following aspects of the Business: Objectives Organization Structure Culture Communication Channels Quality Assurance and Control “Adding Value” I need to examine how these factors interrelate to affect the success of the business. Also I need to explain how quality assurance and control systems help the business to add value to its products and services. As example for my investigation I chose Tesco plc., because Tesco is good example of public limited company and Tesco – is a most popular supermarket’s network in UK. How businesses are classified? I can

classify the business by form, by industrial sector, by ownership, by objective, by size and by location or market. Forms of businesses. SOLE TRADER. Oldest, simplest, most common form of business easy to set up enterprise. A sole trader exists where a single person owns a business. This is very common form of organization. Over recent years, the number of sole traders has grown significantly. There are several reasons for this trend including more opportunities to work for firms on consultancy basis and government support for self-employment. Most sole traders work on their own . Initial capital – savings or borrowed. Very common in retailing, service trades. Advantages: Easy to set up with little capital and few legal formalities The owner controls the business - quick

decision making Personal contact with customers All profits belong to owner Satisfaction, motivation, interest in “Working for yourself” Business affairs are private – except far tax returns Disadvantages: Unlimited liability for any loss or debts incurred: owner is responsible or liable Cannot “Buy in bulk” and enjoy “Economies of scale” Expansions limited by available capital Division of labour is difficult Continuity a problem… Good example of sole trader is T. Regan Plant Hire. PARTNERSHIP The minimum membership is two partners and the maximum twenty. Must be at least one general partner who is fully liable for all debts and obligations of the practice. “Sleeping partner” – not active. Partnership exist mainly in the professions – doctors, lawyers,

accountants and surveyors frequently run their organization in the form of partnership. Partnerships normally operate in local or regional markets, though advanced in information technology are allowing many professions to offer their services more widely. Advantages: Easy to set up More capital with extra partners Division of labour – specialization Responsibility can be shared e.g. long working hours redused Disadvantages: Partners have unlimited liability Disagreement can cause problems – no sole decision – maker or owner Lack of capital may still hinder expansion Profits must be shared among all co-owners Problem of continuity Good example of partnership is Rolls-Royce. COMPANIES A company is defined as an association of persons that contributes money (or equivalent

value in goods and assets) to a common stock, employ it in some trade or business, and share the profit or loss arising out of that business. Join stock companies are governed by and registered under the Companies Act 1985. A company has a separate legal identity form its members and can sue in its own name. There are two types of company: public companies and private companies. Both require minimum two shareholders, and there is no upper limit on the number of shareholders. All companies enjoy the benefit of limited liability. Capital is raised by selling shares. PRIVATE LIMITED COMPANIES Shares can be transferred privately. All must agree.Private limited companies are suitable for small and medium-sized operations. This type of business organization is particularly suitable for