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.
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
Business and Business Environment
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
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,italsoundertakesutilisationcontemporaryexamplesinordertopresentdifferent 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 acommon 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 responsibletotaketheirdecisionown-selfandtheyhavenotanykindofgovernment 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. 1
Legalstructure-Someofparticularlegalstructurethatisfollowedbydiverse 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 theus8iness 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
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
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,increasingcitizenparticipationandincreasingeffectivenessofthebusiness.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 kindof 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. Legalstructure-CharityCommissionofEnglandandWalesissupportedtoa 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 BasisMicro EnterpriseSmall Enterprise Medium Enterprise Large Enterprise MeaningIt indicates to those business organisationsthat operatetheir businesslessthan 10 employees and sells product to a localmarket.The Itmentionto companies which run their business firmwiththe contributionof maximum50 employees (Gaganis, These companies operatetheir business with 250 numbersof employeesand thepurposeof providing employmentto It indicates to that companies whose business is run by morethan250 workers.The main motive this kindofbusiness iscreatingjob 4
annual turnover of these kind of firm lessthanEUR2 million. Pasiourasand Voulgari,2019). Theannual turnoverofthis business is EUR 10 million. thepeoplewho arerejectedby large organisation. The annualturnover of medium sized companiesare EUR 50 milion. optionsfrom individualsand earning profit. Market shareThemarketshare in context of these kinds of companies isabouttonil becausethe business is running onlyforearning livelihood. In these forms of enterprisesthe share of market is low and less. Thebusinessof thiscategory focusonmarket sharelessthan large companies. The main motive oflarge companiesto capturelarge market share. SustainabilityIthighly concentrateson survivalofthe businessin particular sector. Thelevelof survivaland sustainabilityis not high because thesefirmsare smallinsize (Gorla, Chiravuri andChinta, 2017). Theyarelittle concernedabout sustainability and survivalin comparisonto microandsmall companies. They do not make concentrationon sustainability becausethey alreadycovera large market. Profitshareand growth Itcontainlow profitability becausethey operatebusiness forfulfillingtheir Thiskindof companyhas littleprofitbut more than micro compazznies. Itconsistprofit andgrowth becausethey operatetheir business at large Thesekindof companies mainlyfocuson profit and growth ordevelopment 5
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
dailybasisneeds offood,clothing shelter etc. levelin comparisonto microandsmall ortheyalso provide employmentto people. ofthebusiness (Hamiltonand Webster, 2018). Size Scope Thesekindof businessre operatedbywith thehelpofless than 10 people and the annual turnover ofthesefirmare no more than EUR 2 Million. Theyhaveno scope because this firmestablished only for surviving their living. Thesizeofthis businessisless than50andthe yearlyturnover ofthese companiesis maximumEUR 10 million. Theyhaveless scopebecause theyemploy those people who workfor survivingtheir living of life. Thesebusinesses arerunby maximum250 individual and the annualturnover of them is EUR 50 million. Thescopethese firms are large in comparisonto smallcompanies becausethey provide employmentto those people who areselectedby large organisation andworkfor gaining profit. Thiskindof businessesis operated by more than250 employees.The turnover of them are high because themotiveof themearning profit. Theyhavelarge scope because the motive of them is earning profit and provide employmentto the people of all over the globe. 6
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. Humanresource 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 7
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,theCEOofthecompanyconnectswithpresidentandcommercial 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 consideredas 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
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
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- Incase 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 BasisValuableRareInimitableOrganisable 11
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Brand imageYesNoNoNo Financial resources YesYesNoNo TechnologyYesYesYesNo Human resourceYesYesYesYes 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 &performanceascomparedtorivalsandindustry.Withthehelpofthisanalysis,the administration of this respective can analyse the impact of internal factor on the business of 12
organisation in term of strengths and weakness. The SWOT analysis of respective company is explained as below: StrengthsWeaknesses Halifaxisthelargestresidential mortgages and saving account provider in UK market. There are number of services offered under a single brand namelikeinsurance,sharedealings, loans and credit cards and many more. Thecompanyalsoofferdifferent servicesasperdifferentclassesof individuals like current account, reward currentaccountandultimatereward current account. It offers convenience of operation by online banking system. There are more than 10,001 employee who make their contribution in running thebusinessofthiscompany.This company has 1000 branches. Themanagementofthecompany recentlymadechangesoverdraft chargesthathavecausedresentment amongconsumers(Ayatse,Kwahar and Iyortsuun, 2017). Some of its advertisement campaigns thathaveorganisedbythefirmto promoteitsfinancialproductsand services that affect negative term due to havingunfavourablereactionsfrom viewers. OpportunitiesThreats Theadministrationoftherespective firmcanmakeexpansioninits profitability, sales and productivity by targeting elder population with the help of wealth management scheme. Anothergrowthoptionthatcanbe adopted by the company is that it can makeexpansioninitsbusinessby acquiringothersmallbanksand insurance companies. There are high competitions in the UK fiscal sector especially in retail banking thathighlyaffectthebusinessof respective company and generate threat for the development of it(Cepel and et. al., 2018). Anotherthreatisoccurreddueto slowdown in economy that can have adverse impact on the business of this financial company. There are number of competitors in the 13
market that offered several substitute productsinformofloan,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 affectsthe company in term of occurring as strengths. In Halifax, the managementuse innovationpromotionstrategylikeBrandmatchpromotionandsocialmediapromotion 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. Environmentalfactor-Currently,COVID19isthemainenvironmentalfactorthat 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
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
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 frameworkorganisationsworkingpoliciesthataffectthebusinessofrespectivefirmin 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 manymore. Interconnectionamongdifferentdepartmentsisalsosummarisedinthe 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. REFERENCES Books & Journal Alsaad, A., Mohamad, R. and Ismail, N.A., 2017. The moderating role of trust in business to business electronic commerce (B2B EC) adoption.Computers in Human Behavior.68. pp.157-169. Ayatse, F.A., Kwahar, N. and Iyortsuun, A.S., 2017. Business incubation process and firm performance: an empirical review.Journal of Global Entrepreneurship Research.7(1). p.2. Cepel, M. and et. al., 2018. Business environment quality index in the SME segment.Journal of Competitiveness. 10(2). p.21. Eling, M. and Schaper, P., 2017. Under pressure: how the business environment affects productivity and efficiency of European life insurance companies.European Journal of Operational Research.258(3). pp.1082-1094. Fabuš, M., 2017. Current development of business environment in Slovakia and Czech Republic. Faghih, N. and et. al., 2018. A framework for business model with strategic innovation in ICT firms.The Bottom Line. Gaganis, C., Pasiouras, F. and Voulgari, F., 2019. Culture, business environment and SMEs' profitability: Evidence from European Countries.Economic Modelling.78.pp.275-292. 15
Gorla, N., Chiravuri, A. and Chinta, R., 2017. Business-to-business e-commerce adoption: An empiricalinvestigationofbusinessfactors.InformationSystemsFrontiers.19(3). pp.645-667. Hamilton, L. and Webster, P., 2018.The international business environment. Oxford University Press. Kasemsap, K., 2018. Mastering business process management and business intelligence in global business.InGlobalBusinessExpansion:Concepts,Methodologies,Tools,and Applications(pp. 76-96). IGI Global. Kopnina, H. and Blewitt, J., 2018.Sustainable business: Key issues. Routledge. Kuula, S. and Haapasalo, H., 2017. Continuous and co-creative business model creation. InService business model innovation in healthcare and hospital management(pp. 249- 268). Springer, Cham. Lim,W.M.,2017.Onlinegroupbuying:Someinsightsfromthebusiness-to-business perspective.Industrial Marketing Management.65.pp.182-193. Quinlan, C., Babin, B., Carr, J. and Griffin, M., 2019.Business research methods. South Western Cengage. Sarkis, J., Meade, L. and Talluri, S., 2017. E-logistics and the natural environment. InThe ecology of the new economy(pp. 35-51). Routledge. Singh, V. and Agrawal, A., 2017. Impact of business environment on balancing innovation processinIndianSMEs.InternationalJournalofBusinessInnovationand Research.12(2). pp.224-239. Wood, D.J. and Logsdon, J.M., 2017. Theorising business citizenship. InPerspectives on corporate citizenship(pp. 83-103). Routledge. Online Explain the different types, size and scope of organisations. 2020. [Online]. Available Through: <https://www.iqualifyuk.com/library/business-management-section/different-types-size-and- scope-of-organisations/>. 16