Business
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A business (noun) (or 'going concern') is a trading entity that sells goods or services to other businesses or individuals in order to realise a profit.
Types of businesses can include:
- Sole traders
- Partnerships
- Private limited companies
- Public limited companies
- Co-operatives
- Government agencies.
- Charities.
- Voluntary organisations
- Partnerships
- Limited liability companies.
- Unlimited companies.
- Franchises
- Cooperatives
Businesses typically draw up a business strategy; a written statement of the organisation’s key aims which are designed to achieve its objectives. A full description of the strategy is usually found in the business plan.
Businesses typically have various departments, each with its particular objectives, as defined in the business plan. Larger businesses have a wider range of departments than smaller ones. Depending on the size of the business, these departments can include:
- Sales and marketing
- Accounting and finance
- Human resources
- Production
- Research & Development
- Health and safety
- Corporate social responsibility
A company is a legally-recognised group or association of people who have a common goal and who use their respective talents to achieve that goal. In the UK, companies must be registered under the Companies Acts (or other similar legislation). For more information see: Company.
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Comments
The article on 'Business' on designingbuildings.co.uk provides a comprehensive insight into the world of business within the construction sector. What piqued my interest most, however, was the role of office technology in streamlining operations. This underpins the importance of staying ahead of the curve with technological advancements to ensure productivity, efficiency, and ultimately success in today's highly competitive market. Worth a read for those seeking a solid understanding of business structures and processes!
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