Table of Contents
TASK 1– The business environment
1.1 The types of organizations found in the public and private sectors in the UK.
1.2 The different structures within the business in the UK.
1.3 How local, national, and global economic environmental impact on Adidas business.
Task 2 – Business functions.
2.1 Importance of accounting in business for success.
2.2 The different functions carried out by the HR department in a business.
2.3 Key features of employment legislation.
Task 3 – Accounting workshop.
3.1 The information on the profit and loss account of Adidas Group (AG)
Task 4 – Teams.
4.1 Determination of my and other roles in the team:
4.2 The stages of team development
4.3 Three motivation theories.
4.4 Different types of leadership styles.
Task 5 – customer service.
6.1 The impact of customer service on business success.
6.2 The benefits of customer profiling to a business.
Nowadays, the business profession is getting popular among the young generation, and most of them are entrepreneurs. And this huge amount of young entrepreneurs leads their business with integrity as well as with modern technology. The marketers apply various techniques and formulas as their own thoughts and views from an innovative perspective. Marketers like various theories to apply in their business workplace. They are trying to implement various business structures in their business. This paper analyzes the various types of business organizations in the UK. Then the report assesses different structures within the business in the UK. The report discusses the business functions describing the accounting in the third section. The paper introduces Adidas, the biggest fashion business especially the sports business in the UK.
TASK 1 The business environment
In the business environment, there are several internal and external factors that impact the business environment. Political, economical, social, and legal factors are the external factors that a business may face in its business journey, (PESTLE, 2018). Political obstacles like strikes, clashes, violence may hinder the growth of the business seriously and these are seen often. The marketers may face an economical crisis due to the fall of the market price of their products. Besides, macro and micro environmental factors may cause the failures of their business goals.
Our Recommended Resources:
The types of organizations found in the public and private sectors in the UK
Consistent with Business Guide, (2017), there mainly two types of business organizations that existed in the UK are public organizations and private organizations. The business in the whole country is led by these sectors.
It is also called a government business or service sector. This type of business is organized and executed by the government or their recruited agencies. The public business organization is led by taxes by the people of the country. The aims of these companies are to ensure the people’s basic standards of life by providing the basic human rights the people claim from the government and to assist the government by providing taxes and revenues to develop the country.
Central government: Examples are Social Security, Universities, National Health Service, Police, Defense, Prisons, and Roads.
Local Government: Examples are Primary and secondary education, Roads and infrastructures, Libraries, Refuse collection, Social services, and Counsel Housing.
Private business is launched with a view to serve the citizens outside the government support. This type of business organization is formed by individuals or self-reliant entrepreneurs. This type of business is limited to manpower, storage, availability, etc. Types of organization in the private sectors:
- Sole traders.
This type of business is run by individuals to sell solitary products in both online and physical marketing systems. They invent or buy some same categorized products and decorate or design them to sell in the market. This business farm is small entrepreneurship of the marketer. In this formation of business organizations, the marketer can sell their products or services easily without them investing much in the market. They need a very small place and thereby they can launch their business from anywhere and anytime. However, risk management is very poor in this organization. The marketer individually makes the decision for the business, that’s why they are to be ready to take any challenge.
Example: Examples of sole trader businesses are Virtual Assistant, Housecleaning Service, and Computer Repair Services.
This is a little bit bigger business system than a solitary business system. This business is run by two or more partners and their equal contribution to funds. They first determine their goals and strategies and then collect funds to invest in the business. Similarly, sole trader, this business is not separated from the business body. This system is better for risk management and faces challenges. All debts and losses are equally shared in this business format. However, there may be a conflict between the partners whilst making a decision. This type of business is not separated from the business’s whole body. Liability is divided into partnership business
Example: Some examples of partnership businesses are Casper & West Elm, Uber & Spotify, Airbnb & Flipboard.
Full Documents Click Download Button