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An Organization Is An Arrangement Of People, Pursuing Common Goals, And Standards Of Performance Essay

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Organization An organization is an arrangement of people, pursuing common goals, achieving results and standards of performance. There are many different types of organisations that are set up to serve a number of different purposes and to meet a variety of needs. They come in all forms,shapes and size. Size can be measured in many ways, for example, the numbers of staff, number of branches sales revenue each year, number of customers and market share. So there are large, medium and small businesses. The type of activities which individual businesses are involved in varies depending upon their product. There are three levels of economic activity. They are primary sector, secondary sector and tertiary sector. Organisation can be categorized by legal structure. They are sole trader, partnershiop, private or public company, government, voluntary organisation, co-operative, charitable and not-for-profit organisations and franchise. Fashion Queen Elsa is a small business because it normally employs less than 200 people. It is a tertiary sector because it includes not only products but also services. As it is owned by one person and run by a few people, it is a sole trader. Sole Traders Sole traders are single individuals carrying on a business on their own. Such businesses are usually small although large ones with some managerial delegation do exist. The advantages of being a sole trader are as follows (a) No formal procedures needed to begin trading (b) Independence and

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