Business Organisations and Operations Assignment Task 1 Differences between types of organisations Sole trader: is the simplest way to run a business - it does not involve paying any registration fees‚ keeping records and accounts is straightforward‚ and you get to keep all the profits. However‚ you are personally liable for any debts that your business runs up‚ which make this a risky option for businesses that need a lot of investment. Partnerships: consist of two or more partners who are
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Communication is defined as the transmittance of information. Good communication involves a two way process either by a formal or informal means. It can be written‚ spoken or virtual or it can occur with people in groups or individually. Internal communication between employees is an essential foundation for the benefit of any organisation. As the workforce diversifies‚ it has become one of the most important forms of communication to the organisation. The purposes of internal communications are
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With reference to academic work on groups and teams provide a review of 500 words which outlines the advantages and disadvantages of working in a group The aim of this essay is to show how group work can be very useful with many benefits; however‚ it does have downfalls which can prove individual work to be more satisfying. The dictionary definition of a group is a number of persons belonging or classed together‚ they come about in a psychological sense because people realize they are in the same
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as well as insurance for e.g. cars‚ their homes‚ business‚ to increase profits. The newsagent is a LTD which makes profit using its customers and gaining customers through cheap product prices. HSBC is surviving the recession because it’s a global bank and from this it has an advantage to how many customers actually use the bank. Bigger companies normally have the chance to survive in a recession because of the popularity and so small business businesses like a newsagent sole trader has less
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processes of communication in an organisation. Communicate as noun‚ communicate (as verb) to other people‚ communicate (as verb) between other people‚ all this terms often used interchangeably‚ means the process which penetrates almost all activities covered by the people and organisational activity. Its essence is to establish and maintain contact‚ sharing knowledge‚ creating a sense of meaning and their transmission‚ coordinating the actions between the parties‚ which may be individuals‚ groups and organisations
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are a. surpluses and shortages. b. quantities. c. property rights. d. prices. 7. Economics is the study of a. production methods. b. how society manages its scarce resources. c. how households decide who performs which tasks. d. the interaction of business and government. Figure 4-10 ID: B ____ ____ ____ 8. Refer to Figure 4-10. Graph C shows which of the following? a. an increase in demand and an
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Advantages: Information technology (IT) benefits the business world by allowing organizations to work more efficiently and to maximize productivity. Some of the advantages that IT can have on our enterprise are given as following. 1. Storage: Information technology creates electronic storage systems to protect our company’s valuable records. 2. Automated Process: In business‚ people look for ways to do more work in a shorter amount of time. IT improves our company’s efficiency by developing
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Legal Structure of Business Organisations Sole Traders General Partnerships Limited Patnerships Limited Liability Partnerships Companies Key Legislation General Law of Contract Partnership Act 1980 Limited Partnerships Act 1907 Limited Liabity Partnerships Act 2000 Companies Act 2006 Liability Unlimited Liability Each Partner jointly and severally liable Limiteed Liabiliy for limited partners and unlimted liability for general partner Limited to the amount tas they have agreed Depending
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Case let 1 Mr. and Mrs. Sharma went to Woodlands Apparel to buy a shirt. Mr. Sharma did not read the price tag on the piece selected by him. At the counter‚ while making the payment he asked for the price. Rs. 950 was the answer. Meanwhile‚ Mrs. Sharma‚ who was still shopping came back and joined her husband. She was glad that he had selected a nice black shirt for himself. She pointed out that there was a 25% discount on that item. The counter person nodded in agreement. Mr. Sharma was thrilled
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their efforts and the “help” they offer may halt the disadvantaged group’s progress towards equality. Allied activism involves members of an advantaged group acting in solidarity with‚ by offering help to‚ members of a disadvantaged group. Social identity theory argues that group memberships are important to one’s identity and if a person’s group membership is negatively valued‚ he or she will want to change it. Collective action is a means to do so and is dependent on a combination of identity‚
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