Download all ACCA course notes, track your progress, access mock exams, option to buy premium content and subscribe to eNewsletters and recaps. In order to understand the nature and importance of business organization, it is necessary that the meaning of these two words should be clear to everyone. Purposes of different types of Organisation: Business organisations: To make a profit in a socially standard way. Free sign up for extra features! An organisation is a formal structure of relationships, responsibilities and authorities through which specific objectives are achieved. Types of business organisations Different types of organisation have different advantages and disadvantages. Businesses exit to serve customers. A business is one sort of organization, with the specific purpose of making money (taking in more income than it is spending). The purpose of an organization is to accomplish the goals and objectives as indicated within the organization's vision statement. Any employee working at the NASA Space Center in the 1960s knew that that organization’s common purpose was to put a man on the moon. Sole Proprietorship. So the main purpose of the business organization is to serve and satisfy its customers. ‘A work organisation is a social arrangement for the controlled performance of collective goals’ (Buchanan and Huczynski, 2004). Included with the common purpose would be the business and company strategy, mission statement, company values, and the organization’s short- … Which organization type is best for your business depends on a number of factors, including the type of business it is, the number of owners it … Want to start a business? Meetings represent an enormous value to both employees and companies. A Sole Proprietorship consists of one individual doing business. Everybody is paid for what they actually do, and so runs a tiny business that has to show a profit, or they are fired. This is not an example of the work produced by our Essay Writing Service. Therefore we say a business is a ‘commercial’ organization. So the main purpose of the business organization is to serve and satisfy its customers. Understand the organizational purposes of businesses. Business Organization is the combination business and organization. Some of these groups meet weekly, typically over lunch or … Inefficient components of the organisation starve, while effective ones get more work. 1986 words (8 pages) Essay in Business. One of the first steps is to pick its form. Purpose & ownership of two contrasting (different) organisations. The organization’s vision statement provides the future state of the organization to strive to reach. What Is a Business Organization? Business may be defined as ‘an enterprise engage at in production & distribution of good for sale in market. 1. 26/07/18 Business Reference this Disclaimer: This work has been submitted by a student. ADVERTISEMENTS: Different Types of Organisations and their purpose! Since different businesses attempt to do different things, different types of people are responsible for starting them in the first place. Without customers, there is no business. There are many different types of business objectives that an organisation can set, such as increasing profits by 20%, or expanding into another market within a particular time period. Previous Next. The list of different types of business meetings and their purpose is just endless, and the above explained are just but a few. Which business type is best? You can view samples of our professional work here. Tesco started in 1919 when jack Cohen started selling surplus grocery from a stall in east London. Which organizational form is most appropriate can be influenced by tax issues, legal issues, financial concerns, and personal concerns. Types of Business Objectives Among the objectives businesses must consider for their success are plans related to profit, people, and the world around them. Types of Business Organisation. A1e. Different Types of Business Organisation 1. Who Is Involved In Business Activity? These must be considered when owners decide on which form their organisation … Several Types if businesses organization are exiting in order to satisfy various social, economic & rumen requirements. Tesco & NHS Introduction: I will be explaining two different businesses that what their purposes are, what kind ownership are they and what is the type of their business. FREE Sign up. Notes Quiz CBE Mock. Learn more about business organizations and the differences between them. Each type serves a specific purpose, situation, or concern relating to taxes, liability, your control of management, and how you receive profits and losses. Understanding the purposes of business is mandatory for starting a business in any region or culture. In this lesson, you'll learn about the primary ways businesses are organized with examples provided along the way. Business Types Before you start your new business, you need to determine the type of business organization you will have. So customers are more important than any stockholders, the workers, or the management. Following are the main types of business organization. While different business meeting types have different goals and objectives, certain aspects combine them.