BMP3002 Business in Practice

\
Business in practice defines various activities that is
considered by an enterprise in order to control and
measure customer care, enhancement of learning, skills
and knowledge. The poster below is based on the Tesco
that is a British multinational retailer and provides
information about impact of both internal and external
factors.
There are several external environment that has direct
impact over business and as explained below as:
Economic condition: It is related to the employment rate,
interest rate, income trends that have direct impact over
profit generation of business.
Technological advancement: It is related to change in
working prospect within which accurate convenience is
provided to the customers while purchasing products and
services.
CONCLUSION
It has been concluded from above report that internal and
external factors has direct impact over business working
standards through which possibility to manage working
consequences also get affected. In this business induce
various strategies to get over from challenge and attain
suitable range of benefit with appropriateness.
External factors are those having both direct and indirect
impact on working abilities of business and as briefly
explained below as:
Social: It is an aspect that define acceptance of various
offered product and services by the society and for that
business make continuous innovation to advance
profitability.
Technological: It is a basis that is used to make better
level of changes as per concern of innovation and
development. It enhances the working credibility and
time taken by business to improvise working possibility.
Tesco and its environment
Introduction External Environment
Internal factor represent various prospect that is related
to daily working of the business and it is as explained
below as:
Leadership: It is a quality of an individual through
which other employee get influence to perform better
working in regular period of instance.
Employees: These are the backbone of an organisation
and have performed all the required functions. The
presence of skilled and talented employee improvises
working efficiency in productive manner.
REFERENCES
Brennan, R., Canning, L. and McDowell, R.,
2020. Business-to-business marketing. Sage.
Ogden, J. and Roy-Stanley, C., 2020. How do children
make food choices? Using a think-aloud method to explore
the role of internal and external factors on eating
behaviour. Appetite, 147, p.104551.
How the company impact its
context External Environment
Internal Environment Reference