A Detailed Business Report of One Medium Size or Large Business :: Business Management Studies

A Detailed Business Report of One Medium Size or Large Business I have been asked to produce a detailed business report of one medium size or large business. My well- planned business report should contain: Ø The objectives, organisational structure and communication channels that operate within the business. Ø An examination of how these factors, interrelate in a way that can affect the success of the business. Ø An explanation of how quality assurance and control assurance and control systems help the business to add value to its products. Ø Consideration of alternative methods of quality assurance and control. Ø Consideration of how well the business is meeting its objectives. Ø An explanation of the impact of ICT upon the internal and external communications of the business. E1- The classification of the business according to its ownership, and an explanation of the benefits and constraints of this type of ownership. Mixed Economy – Businesses fall into two categories: A Private Enterprise or a Public Enterprise. In private there are businesses such as sole proprietors, partnerships, limited companies and franchises. In the public section you have public corporations, government departments and local authorities. I have written detailed descriptions of some of these below. Sole Trader - A sole trader is a one-person business, commonly found in trades where only small amounts of finance are required to set up and where there are very few advantages to the existence of larger organisations (e.g. hairdressing, newsagents, market traders). Sole traders often employ waged employees, but they alone have to provide all the finance (often savings and bank loans) and accept all the risks of the business venture. In return, they have full control of the business and enjoy all the profits. A sole trader faces unlimited liability for his/her debts and it is referred to as an unincorporated business – this means that there is no legal difference between the business and the owner. Partnerships – A partnership consists of between 2 and 20 individuals. Each partner is responsible for the debts of the partnership and therefore you would need to choose your partners carefully and draw up an agreement on the responsibilities and rights of each partner. Partnerships are relatively easy to set up and will generate more capital. The most common examples of a partnership are doctor’s surgeries, veterinarians, accountants, solicitors and dentists. Most partners in a partnership face unlimited liability for their debts. The only exception is in a Limited Partnership. This is where a partnership may wish to raise additional finance, but does not wish to take on any new active partners. Private Limited Company - Often private limited companies are small,