Business and Business Environment

This document provides an insight into the business environment and its impact on organizations. It covers different types of organizations, their legal structures, and the interrelationship of organizational functions. The document also includes examples from Halifax Bank, BBC, and Charity Commission of England and Wales.

Business and Business
Environment

Table of content
INTRODUCTION...................................................................................................1
SECENERIO AND ACTIVITY 1..........................................................................1
Different types and purposes of organisations with their legal structures...................................1
Difference between profit, not profit and non governmental organizations................................3
Difference between micro, small and medium sized enterprise..................................................3
Interrelationship of different organisational functions................................................................5
SECENERIO AND ACTIVITY 2..........................................................................6
Macro environment analysis by using PESTEL framework.......................................................6
Micro environment analysis by using Porter;s five force model.................................................8
VRIO analysis of company in term of find out strengths and weaknesses.................................8
SWOT analysis of the company to highlight its strengths, weaknesses, opportunities and
threats...........................................................................................................................................9
CONCLUSION......................................................................................................10
REFERENCES......................................................................................................11

INTRODUCTION
Business and business environment indicates to the environment of a business in which a
company its business activities and operations. It can be the surroundings that is connected to all
the components and elements that either influence or create impact on the working and
functioning of a firm. Moreover, it is an essential factor to an organisation to determine its
environment as it offers a prominent insight to organisations in relation to these aspects because
it help in maximising the scope of development when comes to formation of strategies and
operations (Alsaad, Mohamad and Ismail, 2017). In context of it, the report is supported to
Halifax Bank which is a British banking brand operating company. It was incorporated in 1853
and headquartered in West Yorkshire, UK. In this relation, the written document will covers
effective insight on business environment, explanation of size and scope of firm and interrelation
among its different business functions that are connected to organisational structure. Along with
this, it also undertakes utilisation contemporary examples in order to present different
components that create favourable and unfavourable impact upon the business function of the
firm. In addition to it, internal analysis also discussed along with interrelation with external
analysis.
SECENERIO AND ACTIVITY 1
Different types and purposes of organisations with their legal structures
Organisation can be explained as a unit of organised people that has a common motive
and accountability to accomplish all over objectives of a venture. Majorly, there are three types
of companies which have different purpose and legal structure that are private, public and
voluntary enterprises (Explain the different types, size and scope of organisations, 2020).
Private company- It can be explained as any individual, partnership, corporation and agency
that is not a public company and the motive of it to earn profit. These kind of companies are
responsible to take their decision own-self and they have not any kind of government
involvement (Ayatse, Kwahar and Iyortsuun, 2017). Halifax Bank is the example of this kind of
firm that is a UK based banking company.
Purpose of Halifax- The major motive of respective company to offer quality and
effective financial products and services to customer and becoming the first bank for customers.
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Legal structure- Some of particular legal structure that is followed by diverse
organisation to carry on its business actions and operations (Cepel and et. al., 2018). The legal
stricture of private sector company can be acknowledged by following mentioned points:
Sole proprietorship- In this legal structure, an individual operates the us8iness of the
entire company and is the single owner of the firm. The owner as limited freedom over business
determinations and the risk and treat is high ion such companies. Sole proprietorships are easy to
set up and usually only need a small influx of initial asset. It is common for SMEs to assume a
sole proprietorship status during the initial period of their operations. Business overheads are
usually minimal due to the small size of the enterprise, but if the business is unable to make a
profit and keeps accruing debt, the owner is exclusively liable for any outstanding debts. The
main advantage of sole proprietorship is that this kind of business can be start with fewer
amounts and an individual can operate and set up this business simply. The main drawback that
is faced by person is difficulty in raising investment capital to start business. There is no business
write offs.
Partnership- It can be mentioned as an agreement or contract that can be take place
among two or more people that work together to accomplish the set business objectives. It is
essential to point of that not all partnerships have unlimited liability, limited liability partnership
are now becoming highly common. The advantages are that it is easy to start and profits and
losses both are wear by parterners. The main limitation o this kind of business is that there are
instability, unlimited liability, lack of harmonery and limited fund to operate business.
Limited liability companies- These kinds of enterprises have different owners and
revenue that are generated from these companies are segregated among all the owners. When
companies are formed, they must have a constitution that will assist the shareholders and director
regulates their relationship. The main benefits of this business that there is no restrictions on the
number of members and company has flexible structure. The drawback of this business is that it
consume more cost in comparison to sole proprietorship and pay more tax in compare to limited
liability company.
Public company- it refers to those organisations that are governed by national authorities of
countries an motive of them to provide services to the community and society (Explain the
different types, size and scope of organisations, 2020). The main purpose of them is not earn
2

profit instead of they work for fulfilling public needs. BBC is an example of these kinds of
companies.
Purpose of BBC- The basic purpose of BBC is to offer essential data and news
prevailing across the globe to population.
Legal structure- The companies who are including as public organisation are followed
all the rules and regulation that are imposed by national authorities upon them. The legal
structure of BBC mentioned as beneath:
Central government- These kinds of ventures are incorporated and governed by central
authorities of UK. It has different benefits like protecting business from tyranny, dispersing
power, increasing citizen participation and increasing effectiveness of the business. The
drawbacks are supposedly protecting slavery and segregation, increasing inequalities among
states etc.
State government- In this legal framework, business activities and operations is operated
and owned by state government of that state in which the respective company performing its
business activities and operations. The main advantage of it is that it supports the business in
operating business state level and help by framing favourable polices. The drawback is that they
charge different taxes to operate business in state.
Local government- These firms are established under nation or legal & government
framework of municipality.
Voluntary company- These kind of enterprises are known as non profit company because the
main motive of these king of companies is to develop the living standard of the local people.
They are not work for earning profit instead of it they carry out its business activities for
development of society (Eling and Schaper, 2017). Charity commission of England and Whales
is an effective example of these kind of companies. These NGOs are controlled by national by
trust committees and financed by charities to perform their activities. These companies are
worked for social welfare and CSR activities so large companies also financed a small portion
for these kind of activities.
Purpose of Voluntary firm- The major motive of respective company is to provide help
to those people who are required and help in fulfilling their basic needs and necessities.
Legal structure- Charity Commission of England and Wales is supported to a
commission that established in 2007 that analyse effects on the relationship with regulator and it
3

can frustrate n intention to accomplish a favourable outcome (Fabuš, 2017). The legal framework
of this company is as under:
Trust- These kind of companies and enterprises are operated by trust deed and there is no
legal structure in these kind of organisation sectors.
Charitable company limited by guarantee- It can be explained as a limited liability
company which is established and registered within company house.
Difference between profit, not profit and non governmental organizations
Profit- It indicates to those sectors that are administrated and owned by independent
organisations and not by national authorities. The main motive of them to earn high profit with
the help of their business activities and operations. It operate their business with different
products and service like Halifax Bank offer banking products, insurance and investment
services.
Non-profit- These kind of firms are managed and controlled by national authorities of
the company. It works to serve different services to community and social population. For
instant, BBC deals with offering broadcasting services.
Non-governmental- Those firms that make their focus on a particular cause or a social
problem are known as non-governmental companies. It perform their operation for the welfare of
the society not for gaining profit (Faghih and et. al., 2018). For example, Charity Commission of
England and Wales deals with offering charity to old age home, orphanage and many more.
Difference between micro, small and medium sized enterprise
Basis Micro Enterprise Small
Enterprise
Medium
Enterprise
Large
Enterprise
Meaning It indicates to those
business
organisations that
operate their
business less than
10 employees and
sells product to a
local market. The
It mention to
companies which
run their business
firm with the
contribution of
maximum 50
employees
(Gaganis,
These companies
operate their
business with 250
numbers of
employees and
the purpose of
providing
employment to
It indicates to that
companies whose
business is run by
more than 250
workers. The
main motive this
kind of business
is creating job
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annual turnover of
these kind of firm
less than EUR 2
million.
Pasiouras and
Voulgari, 2019).
The annual
turnover of this
business is EUR
10 million.
the people who
are rejected by
large
organisation. The
annual turnover
of medium sized
companies are
EUR 50 milion.
options from
individuals and
earning profit.
Market share The market share
in context of these
kinds of companies
is about to nil
because the
business is running
only for earning
livelihood.
In these forms of
enterprises the
share of market is
low and less.
The business of
this category
focus on market
share less than
large companies.
The main motive
of large
companies to
capture large
market share.
Sustainability It highly
concentrates on
survival of the
business in
particular sector.
The level of
survival and
sustainability is
not high because
these firms are
small in size
(Gorla, Chiravuri
and Chinta,
2017).
They are little
concerned about
sustainability and
survival in
comparison to
micro and small
companies.
They do not make
concentration on
sustainability
because they
already cover a
large market.
Profit share and
growth
It contain low
profitability
because they
operate business
for fulfilling their
This kind of
company has
little profit but
more than micro
compazznies.
It consist profit
and growth
because they
operate their
business at large
These kind of
companies
mainly focus on
profit and growth
or development
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daily basis needs
of food, clothing
shelter etc.
level in
comparison to
micro and small
or they also
provide
employment to
people.
of the business
(Hamilton and
Webster, 2018).
Size
Scope
These kind of
business re
operated by with
the help of less
than 10 people and
the annual turnover
of these firm are
no more than EUR
2 Million.
They have no
scope because this
firm established
only for surviving
their living.
The size of this
business is less
than 50 and the
yearly turnover
of these
companies is
maximum EUR
10 million.
They have less
scope because
they employ
those people who
work for
surviving their
living of life.
These businesses
are run by
maximum 250
individual and the
annual turnover
of them is EUR
50 million.
The scope these
firms are large in
comparison to
small companies
because they
provide
employment to
those people who
are selected by
large organisation
and work for
gaining profit.
This kind of
businesses is
operated by more
than 250
employees. The
turnover of them
are high because
the motive of
them earning
profit.
They have large
scope because the
motive of them is
earning profit and
provide
employment to
the people of all
over the globe.
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Interrelationship of different organisational functions
Marketing and Research & Development function- These both functions are interrelate with
each other because they both make their contribution in running the business of the company in
term of accomplishing the business aims and objectives. In Halifax Bank, the marketing function
of the company use its marketing tools and channels to create awareness about the products and
services of the company, like new insurance products etc., in the market. With the help of this
make their contribution in achieving business of maximising customer base. Whereas R&D
division conduct marketing research to get information about the needs and demands of
customers and in this process this function utilise marketing channels. So that it can provide
accurate and deep information about consumer’s interest. When the company have information
about clients need then it develops and produce financial products and services as per their
requirement. It will help in achieving the sales objective of the firm.
Human resource and Finance department- These both functions are also interconnect with
other and contribute in growth and development of the company. At the time of filling the vacant
position of finance function by organising recruitment and selection process, the HR manager of
Halifax Bank conduct recruitment activity to recruit skilled and talent candidates that are suitable
for the vacant position. For this use different method of hiring and selection so that they ire fresh
talent and knowledgeable person who help in accomplishing the business objectives like
maximising revenue and market share of the company (Kasemsap, 2018). Apart from it Finance
function is also provide fund to organise recruitment process and provide notification about
vacant position to applicants through using social media tools and designing job description.
With the assistance of it finance function makes contribution by providing fund so that the
activities of selection process can be conducted in effective manner. It will also help in attaining
business objective of respective company because when the firm have skilled workface then it
can easily achieve its set goals in granted time duration.
Types of organisation structure based on its scope and size:
Matrix structure- In it, reporting relation can be set up as a group instead of traditional
hierarchy. In these kind of organisational structure employees have dual reporting relationships
basically to both a functional administrator and a product manager (Kopnina and Blewitt, 2018).
The management of Halifax bank can follow this structure because it is the subsidiary of Lloyds
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banking group plc. So the company has wide scope and size and employees report their work to
their superior then they report to head of respective banking group.
Hierarchical structure- In this kind of organisational structure, workforce are grouped
with each employee having individual supervisor. This team is categorised on the basis of
components like functions, geography and product. The size of organisations that adopt such
framework like BBC and in it, grouping is done according to nations. This company has large
scope as it is a well know brand and company and customers are well known with it.
Therefore, the CEO of the company connects with president and commercial
administrator and gives order to employees to achieve aims and objective. The administrator
share this message to different business function of the firm as per need that help in completing
work in granted time duration. The main motive of managing this plan of action is effective flow
of work with efficacious communication in the company. The objective of the companies is link
to the business objective because when the firm accomplish its aims and goals then it help in
developing the size and scope of the company in term of increasing customer base, sales, profits
and productivity.
For example, Human resource management is effectively interrelate with other functions
of the company so that the firm can operate in effective manner and accomplish its set
objectives. By hiring skilled and qualified employees for all function of the firm, this makes
contribution in attaining the objective and making development. Along with this, it os effective
and the interest of the establishment are well served and it generates a personal accountability ,
where the lines of administration are clear can be considered as an benefits but from a diverse
point of view, the transmission of knowledge slows down, collaboration and coordination of
determination devising which may appear can be presumed as a drawbacks.
The aim also based on the scope of customers served by company. On is the demand the
consumer requires at the national extent. The other is the objective set by business firms when
dealing with consumers at the global extent. It is the place to mention that this difference in the
size and scope of the several banking sector companies is reducing with smaller organisations
doing their best to develop faster and reach their larger rivalry. In the business world, this is
completed by increasing additional capital. For instant, as per KY News reported in October
2019 that fintech company Revoult was looking to pick up $1.5 billion of the major capital they
operate and hired JP Morgan to facilitate this. The fundraising will be among 5 and 10 million
8

dollars. Revolut became the most valuable starting up of fintech in the UK between fitntech in
February 2020, after funding reached more than three times its value. This happened after the
company announced that it had dialled $500 million from a group o investprs led by the
American technology Crossover Ventures.
SECENERIO AND ACTIVITY 2
Macro environment analysis by using PESTEL framework
PESTEL Analysis is a framework that is used by an organisation to determine the impact of
external factor. In context of Halifax Bank, the PESTEL framework of respective firm is as
under:
Political- The banking sector is greatly regulated according to the government regulations in
the nation where company operate its business. Halifax operates its business in diverse countries
and work as per the policies of government (Kuula and Haapasalo, 2017). The business of this
company affect when the national authority of UK makes change in its taxation policy. Due to
Brexit in term of maximising them. Then create unfavourable impact upon respective company.
The government of some nations are stable which create positive impact on the business
operations of this Bank. Due to Brexit, inflation is arisen and the firm make increment in its
interest rate.
Economical- The economic risk and uncertainty of a UK exit from Europe poses a
significant challenge to many banks including Halifax Bank. This factor also impacts the
business operations of Halifax Bank in favourable and unfavourable manner (Lim, 2017). For
example, when the changes are occurred in currency it affects, it highly affect the British
economic condition in negative manner. Brexit also create unfavourable consequences for
capital, operations and regulations. Change is interest rate due to Brexit is another factor that
affects the economic condition of Halifax.
Social- It consist different factor like changes in consumers’ needs, lifestyles, income etc.
then it affect the business operation of a company. For instant, in context of Halifax Bank, in
UK interest of people are changed and saving, investment and wealth management product and
services. This creates favourable impact on business of respective company. But due to Brexit
situation of inflation occurred in economic system due to which company also increase its
9

interest rate that create negative impact because customer will not ready to raise fund and they
can switch to another firm.
Technological-This factor consist different components like advance technology, artificial
intelligence, research & development in technology. For example, the company use digital
technology and mobile capabilities to develop and making difference in their offering while
remaining are investing in fraud prevention, cyber risk, IT security etc. This create positive
impact on the firm because with the help of this technology company aware its customers about
its product and make improvement in their experiences. But if the company will not use high
security in its technology then it can be negatively affect organisation in term of data theft and
information hacking etc. By adopting different security technology and software like Firewell
and secure socket layer encryption can used by the firm to provide protection data for cyber risk.
Environmental- Halifax recognises the current trends in customers and national authorities
demanding businesses to minimise their carbon foot print. In context of it, the management of
respective company committed to minimising its own carbon foot print by misnaming energy
consumption primarily through sustainable improvement funding and carbon (Quinlan and et. al.,
2019). This creates favourable impact on company because the firm work for environmental
safety and consider it as an important factor. Covid19 is an environmental factor that highly
affects the business of the company in negative manner. Due to this issue the nation affect in
UK. This will create negative impact over the economic system of the company as well as
environmental factor like climate of the workplace. This will strongly influence the banking
industry which in turn accepts non-essential business support evaluates as removing some of a
charge for Euro payments and cash withdrawals inside Halifax, changes to assist protect their
consumers and their accounts as starting to notice extra check when shopping and banking online
and paying someone new, double-check personal details whether match and response if they do
not.
Legal- It refers to those laws and legislations that are formulate by the national authorities of
the country. If the national authorities make changes in its legislation then affect the business of
Halifax Bank because it operate globally. For example, in current time most of countries free
trading of goods and services. So with the help of it organisations can easily run their business
which positively affects the company. Apart from this, if the national authorities of countries
make strict law regarding trading and others then it negatively influences business of respective
10

company. Due to issue of Covid19, national authorities make changes in its law and restrict the
trade and transportation of people from one place to another. So change in law, the business
person of thi firm will not go from other place for meeting and considering the business of the
other branches of different nations. This will affect the company in negative terms.
Micro environment analysis by using Porter;s five force model
This concept is used by companies to monitor the level of competition and risk in a
business. This tool can be used by the management of Halifax Bank to the competition in
financial sector in context of respective company (Sarkis, Meade and Talluri, 201). The Porter’s
Five force analysis of Halifax Bank is as below:
Threat of new entreats- The threat of new entrants is very low to Halifax Bank because to
start a business in banking sector, enterprise required more fund and it is hard to won the trust
and belief of customers. So this forces have not risk for the business of respective company.
Bargaining power of suppliers- The fact that the UK banking and financial sector is
focused has made the bargaining power of Halifax Bank suppliers low. It provide the bank power
to obtain products and services at a low cost.
Bargaining power of buyers- In case of bank and financial institute , the bargaining
power of customers is also low because all products and services have a fix cost. But power of
switching is in term of when they have not budget to buy any financial product then they switch
to another bank or finance company. So the force of buyers is not highly affect the company.
Threat of substitute product- This force is high in context of Halifax Bank because there
are number of bank and financial company in UK that offer similar product as respective firm.
There are number of firm like Barclay's Bank, Borroclub, RBS etc. offer different products like
insurance, credit cards and others.
Rivalry among existing competitors- This force is also for Halifax Bank because there
are numerous companies like Lioyds bank, Borroclub, RBS, Barclays, Daylui and Metro Bank
etc. This company also provide financial services like Halifax bank and create competition for
the business of respective firm (Singh, and Agrawal, 2017).
VRIO analysis of company in term of find out strengths and weaknesses
VRIO analysis
Basis Valuable Rare Inimitable Organisable
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Brand image Yes No No No
Financial
resources
Yes Yes No No
Technology Yes Yes Yes No
Human resource Yes Yes Yes Yes
Brand image of the company is valuable because it is unique to each company and can not
be copied by others. In reference to Halifax Bank, brand images is valuable because people
know this due to its brand value which is maintained by the firm by offering quality and
good financial products and services to customers (Wood and Logsdon, 2017). It is not rare
because each and every company has its own brand image. Due to this, it also inimitable and
it is not a tangible asset so it is not organisable. Financial resource of respective company
are valuable and rare because each firm has different finical resource like bank and financial
institutes to raise fund. They are not inimitable and organisational because corporations
invest finance as per their ability.
Technology of Halifax Bank is valuable, rare and inimitable because different organisation
use different techniques and they help in effective running of the business. So they are
valuable, rare, and inimitable but they are not tangible assets so they are not organisable.
Human resource of respective company is valuable, rare, inimitable and organisable because
the company can manage them by implementing strategy. They are valuable because they
make contribution in running the business of the company. Each person have different skills
and knowledge which cannot be copy by others.
SWOT analysis of the company to highlight its strengths, weaknesses, opportunities and threats
SOWT Analysis of Halifax Bank
It is a strategic framework and tool or technique that is used by numerous companies to
analyse the strengths, weaknesses, opportunities and threats (Alsaad, Mohamad and Ismail,
2017). It is a management framework that assists a brand like Halifax to benchmark its business
& performance as compared to rivals and industry. With the help of this analysis, the
administration of this respective can analyse the impact of internal factor on the business of
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organisation in term of strengths and weakness. The SWOT analysis of respective company is
explained as below:
Strengths Weaknesses
 Halifax is the largest residential
mortgages and saving account provider
in UK market. There are number of
services offered under a single brand
name like insurance, share dealings,
loans and credit cards and many more.
 The company also offer different
services as per different classes of
individuals like current account, reward
current account and ultimate reward
current account. It offers convenience
of operation by online banking system.
 There are more than 10,001 employee
who make their contribution in running
the business of this company. This
company has 1000 branches.
 The management of the company
recently made changes overdraft
charges that have caused resentment
among consumers (Ayatse, Kwahar
and Iyortsuun, 2017).
 Some of its advertisement campaigns
that have organised by the firm to
promote its financial products and
services that affect negative term due to
having unfavourable reactions from
viewers.
Opportunities Threats
 The administration of the respective
firm can make expansion in its
profitability, sales and productivity by
targeting elder population with the help
of wealth management scheme.
 Another growth option that can be
adopted by the company is that it can
make expansion in its business by
acquiring other small banks and
insurance companies.
 There are high competitions in the UK
fiscal sector especially in retail banking
that highly affect the business of
respective company and generate threat
for the development of it (Cepel and et.
al., 2018).
 Another threat is occurred due to
slowdown in economy that can have
adverse impact on the business of this
financial company.
 There are number of competitors in the
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market that offered several substitute
products in form of loan, wealth
management products and insurance. It
generate threats for the business of the
company.
Explain interrelation of strengths and weaknesses with external macro factors
The interrelation of capability and weaknesses of Halifax with external business components
is mentioned as under:
Political factor- The free trade aspect of this factor positively impacts the company because
with the help of it the firm can operate its business in different nations and markets or offer
different brand and commodities to people of diverse income group with the purpose of fulfilling
their needs and demands (Hamilton and Webster, 2018). It will also help in capturing large
market size and share as well as increase sales and profits of the company.
Economical factor- Brexit is the main component of this macro analysis factor that
negatively affects the company and arise a weakness of venture. Due this inflation occur and cost
of commodities and material arise that unfavourably affect the company. In Halifax bank, change
in currency rate affects the business of respective firm.
Social factor- Due to Brexit situation of inflation occurred in economic system due to which
company also increase its interest rate that create negative impact because customer will not
ready to raise fund and they can switch to another firm. In UK change in customer interest
people are prefer to purchase fincial products which arise as strength of company.
Technological factor- Technical innovation is the main technological factor that positively
affects the company in term of occurring as strengths. In Halifax, the management use
innovation promotion strategy like Brand match promotion and social media promotion
positively influence business venture as with the help of it organisation can get attention of
number of people and promote its goods and services cross wise the world. This will assist in
developing customer base, sales, profit and productiveness of respective firm.
Environmental factor- Currently, COVID19 is the main environmental factor that
unfavourably affects the business of company and arising as weakness of Halifax. Due to
negative impact of this factor the sales and profits of the firm is decreased. High level Carbon
14

footprints are also creating negative impact over environment which affect the brand image of
the firm.
Legal factor-Halifax operate its business internationally changes in rules and regulations of
government affect the business of firm and occur as weakness (Quinlan, 2019). In UK, due to
COVID19 pandemic, there are several kind of changes occurred in government regulatory
framework organisations working policies that affect the business of respective firm in
unfavourable manner.
CONCLUSION
This has been analysed for the preceding explain content that business environment
influences executions and productivity of a company to a large level. There are different kind of
business organisation that perform their business with different objectives. Each level company
is differentiating each other like micro, small, medium and large in term of employee, purpose
and many more. Interconnection among different departments is also summarised in the
document like marketing’s and finance etc. that help in running the business of company
collaboratively. By determining the components by PESTEL, Porter and SWOT, the firm can
strengthen their ability and make plans to get over from issues and complexities as well.
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