Business Environment - Meeting global and local needs Coursework

Business Environment - Meeting global and local needs - Coursework Example The main purpose of this organisation type is to serve the community as a whole and delivering public benefits (Fletcher, 2005). Partnership: It is such an organisation type, which mainly comprise two or more partners in order to conduct a business. In this organisation type, the partners involved utilise the available resources and thereby share profits equally or proportionately (Fletcher, 2005). It is quite obvious that different stakeholders possess diverse needs along with objectives. An organisation mainly works towards meeting its predetermined goals along with the objectives of the stakeholders. It can be apparently observed that organisations mainly create a business plan, which helps in complying with the objectives of diverse stakeholders by a certain degree (Morris & Baddache, 2012). It is strongly believed that the stakeholders can be benefited only when organisations provide value added products to the customers. This will certainly make the stakeholders to obtain substantial profits and help them to obtain high dividends. Apart from these, the aforesaid aspect will also provide the employees with better salary. Furthermore, this will also boost the productivity of the organisations to meet customers’ demand and thereby serve the stakeholders effectively. The organisations can meet the objectives of the stakeholders by satisfying customers’ requirements, enabling such organisations to observe rise in profit margin. Thus, the formulation of an effective business plan will help the organisations to meet stakeholders’ objectives by a certain extent (Boutelle, 2004). One of the imperative roles along with responsibilities of an organisation is to serve customers in accordance with their respective demands and preferences. An organization must work under the boundaries of law. In this regard, the belief as well as the reputation of an organisation frames a vital part (Heslin & Ochoa, 2008). It is worth mentioning that an