Business Management
Table of Contents
Different functions of Dyson ltd. in private sector 7
Interrelation between the different functions of the company 7
Advantages and disadvantages of interrelation 7
Complexity in different types of business structures 7
Introduction
There are different types of organisation in the market or any country. The distribution of these organisations is done on the basis of their operation process and functionality.
This report will be defining about the different types of the organisation. It will be including the three main types of organisation viz. private sector, public sector and voluntary sector. For each sector, the example of a company will be given and their characteristics like mission, vision, size, legal structure, stakeholders and delivery system will be defined. Moving ahead the report will be defining about the different functions in the company and how they are interrelated with each other. Advantages and disadvantages of the same will also be identified. In the last section, the report will be talking about the different structure of the businesses.
Types or organisation
Organisation refers to the various businesses, company and firm operating in a country as well as the international market. Organisations are divided into different categories according to their size, ownership and operational process. Mainly the organisations are divided into three categories viz. private, public and voluntary sectors (Bach-Mortensen et al. 2018). The characteristics of each sector along with their size, legal structure, key stakeholders and scope are defined as below:
Private sector
Private sector can be defined as a company, business or firm that is contributing in the economic system of the country and is owned by an individual. In other words, government doesn’t play any role in the administration of this sector business. Private sector organisation makes a segment of the economy which is owned by the individuals of the market carrying the main focus of generating the profit (Creamer et al. 2018). In many cases, a private sector can come in the partnership with the government owned company to serve and provide products and services to the community. Some of the main features of private sector organisation include:
Profit motive: the primary motive of private sector businesses and organisation is to make the monetary profit in the market by promoting their products and services to the target market.
Private control: these sectors have the private ownerships of the individuals with no interference of any external entity.
Independent management: having no role of external companies, the management of private sector is always independent.
Private finance: when the company is owned by the individual, so the finance of the company is also private.
One of the good example for the private sector company of UK is Dyson Ltd. The company manufactures the home appliances such as vacuum cleaner, hair cleaner, hand dryer and many more. the headquarter of the company is in Chicago and Wiltshire.
Mission/vision/objectives of Dyson Ltd.
Mission of Dyson Ltd. is to inspire the engineers of new generation by giving them materials, money along with mentorship so that the generation can handle the problems and learn the ways to solve those problems.
Values of Dyson Ltd.
The value of Dyson Ltd. is to create different, authentic and better.
Size of Dyson Ltd.
The company offers the employment to approximately 15000 employees with the revenue of $ 7.3 billion. The net income of the company is $ 1.5 billion. The company provides their products such as vacuum cleaner, hair dryers, heater, lights, fans and many more. The market presence of the company includes Chicago, Hullavington, Singapore, Malaysia and many other countries and market.
Legal structure of Dyson Ltd.
Dyson is private limited company which is owned by Roland Kruger, Jake Dyson as chief lighting engineer and James Dyson as chief engineer of the company. James Dyson is also the founder of the company. More than 50% of the total company’s shares are owned by the individual or private companies and firms.
Key stakeholder of the company
Key stakeholders of the company include the investors, shareholders, service providers, raw material supplier, employees, management authorities and customers.
Product delivery by the company
The company offers the customer to get the products via offline and online platform. The customers can go to the stores of the company and can simply purchase the products being manufactured by the company as well as the customers can just purchase the products from online platforms as well.
Public sector
On the other hand, public sector is other part of economy which is includes both the public enterprises as well as public services. To understand the public sector more easily, it can be said that the public goods and the services which includes law, enforcement, infrastructure and many more which are owned by the government of state or the nation is called the public sector businesses or property (Demircioglu and Audretsch 2017).
The best example to define the public sector employer of UK is BBC. British Broadcasting Corporation is the oldest and biggest broadcasting corporation. The corporation was started by royal charter. The corporation is now funded by government-approved license fee. The services of the company includes journalism, business graduation training, technology, and production via their schemes for new talent.
Mission/vision/objectives of BBC
Mission of the company is to act in public interest and serving the people or audience through high quality and distinctive output such as inform, entertain and educate.
Values
Value of BBC includes putting the audience at heart in everything they do.
Size of BBC
BBC is the world’s largest and oldest national broadcaster in term of employees in the whole world. Around 22,000 employees work in the company worldwide from which around 16000 employees are working in the public sector of this broadcasting corporation. Talking about the flexible, fixed contract and part time staff, the company employs more than 35000 employees around the globe (Clementi 2016).
Legal structure of BBC
BBC is basically statutory corporation which is controlled by BBC board and regulated by Ofcom. The chairman of BBC is Sir David Clementi and the company is independent from the direct interference of govt (Mullen 2021).
Key stakeholders
The internal stakeholders of the company include owner, managers and employees. On the other hand the external stakeholders of the company refer to customers, government, local community, bank and supplier.
Service delivery by the company
The company provides the services such as BBC World Service, BBC radio, BBC Jam, BBC Web Wise, BBC studio work and BBC Micro.
Voluntary sector
Voluntary sectors are the businesses or the company which doesn’t focus much on the making the profit but the main objective is to benefit and enrich the society. These types of sector have very little or no intervention of government in the operation.
The good example of the voluntary sector present in UK is Save the Children. The trust focuses on providing the help to the children around the world with their different operations. The trust works in nurseries, communities and homes to enhance the financial as well as mental conditions of children (DeVerteuil et al. 2020).
Mission/vision/objectives of Save the Children
Mission of the organisation is to inspire the breakthroughs in the way the whole world treats the children and bringing the change to their life.
Values of Save the Children
Values of organisation are accountability, collaboration, ambition, integrity and creativity.
Size of save the Children
The organisation is present in over 117 different countries of the world.
Legal structure of Save the Children
It is an organisation that includes the global membership which is made up of 29 national members and Save the Children International.
Service delivery by the company
The organisation provides the education, health and development help and facilities to the children around the world (Norell et al. 2017).
Key stakeholders
Volunteers, children, funds provider and associated organisations are the key stakeholders.
Different functions of Dyson ltd. in private sector
Let alone Dyson Ltd. but each and every company have the various functions to perform in order to completed their production and operation and deliver the product or services to their customers. Some of the key functions are defined as below:
Production: it is the main process of the company because as long as the company doesn’t produce the product, they will have nothing to sell in the market. So production is the foremost function of the company.
Marketing and advertising: this is the second function of Dyson ltd. in which the company focuses on informing the customers and target audience about their products. It is important to market about the products of the company as if the customers do not know about the existence of the company; business cannot mark their presence (Painter et al. 2019).
Human resource management: this function of the business covers the hiring of new workforce and employees in the company. Also the salary management of the workforce and employees is ensured by human resource department.
Supply management: this function of business refers to manage the raw materials of the company to produce the different equipment.
Interrelation between the different functions of the company
There may be many functions included in the operation of a company but all these functions are somehow interrelated to each other and cannot perform or complete their work without the interference of other department. For example, if there is no production or marketing process of the company, there is no meaning for the HR department to hire the new employees and workforce. Similarly if the marketing team is not there to inform the people about their products and services, the production of the products will go in waste. Also without the support of supply management, all the other activities can neither be started and nor be completed (Ludeke-Freund et al. 2017).
Advantages and disadvantages of interrelation
Advantages |
Disadvantages |
It is important to have the mutual relation between the different functions of the company so that the best productivity and outcomes can be received. When there is interlink between the different functions of the company, the chances of mistakes in any operational process are minimum. |
Due to the interrelation between the different functions of the company, the performance of one department can get affected due to the other department. Other disadvantage is that there can be lack of understanding between the different departments of the company. |
Complexity in different types of business structures
There are four different types of business structures based on their ownership and functionality:
Sole Proprietorship: it refers to the unincorporated company which is owned generally by the single person. It is the simplest type of business which offers the least amount of legal and financial protection for the owner (Heriawan 2020).
Partnership: as the term define itself that the business which is owned by two or more than two people is called the partnership businesses. Owners in the partnership are the main responsible for the liabilities of the firm.
Limited liability Company: these companies are generally the most flexible type of company or businesses. In this structure, both the partnership and corporations are combined.
Corporation: it is most like the separate legal entity which is created by the shareholders. It protects the owner of the business to be the personally liable for the debts and legal disputes of the company.
Conclusion
The report has concluded that there are three different types of organisation viz. public, private and voluntary sector business. Three different types of organisation have been identified on the basis of interference of government in the operational process of the business. Production, HR management, supply management and production have been identified as the different functions of a business. Increase in the productivity of company has been identified as the main advantage of interrelation whereas the lack of understanding has been identified as the disadvantage of the interrelations of different functions of the company.
References
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Clementi, D., 2016. A Review of the Governance and Regulation of the BBC. HM Stationery Office.
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Demircioglu, M.A. and Audretsch, D.B., 2017. Conditions for innovation in public sector organizations. Research policy, 46(9), pp.1681-1691.
DeVerteuil, G., Power, A. and Trudeau, D., 2020. The relational geographies of the voluntary sector: Disentangling the ballast of strangers. Progress in human geography, 44(5), pp.919-937.
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Mullen, J., 2021. What Questions Need to Be Asked about the History of the BBC?. Revue Française de Civilisation Britannique. French Journal of British Studies, (XXVI-I).
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