Three Types Of Business: Business Environment Zeus Pestonji
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BBA-HNC Business Environment Zeus Pestonji
Name: Zeus Pestonji
A business organization is an individual or group of people that collaborate to achieve certain commercial goals. Some business organizations are formed to earn income for owners. Other business organizations, called non-profits, are formed for public purposes. These businesses often raise money and utilize other resources to provide or support public programs.
Types of Economic organisations, these are organisations in the private sector which comprise of businesses owned by individuals or groups of individuals
Sole trader- A business which is started by one person and is financed by him but has full control of his business and gets to keep…show more content… Deliver an outstanding service for customers at every point.
Grow their presence in every city
Build their leading position in London
Meet their customers? needs and improve margins through new revenue streams
These are enumerated statements a company wants to achieve over a period of time. These are used as a standard of measuring the performance of a business and all the departments which they are consisting of.
There are three types of objectives these are
Primary and secondary objectives:
If a new company wants to set their objective as a growth in profits this would be their primary objective but to achieve this, they have to develop various strategies. For each specific strategy, an objective has to be set
Secondary objectives are those related to sales growth, customer service quality of the product, technological innovation, efficient use of resources and reducing company debt.
These are objectives which focus on a business as whole. IT focuses on the performance of the business and the results of the business. They need to cover important arras so they can achieve better results instead of focusing on a single