Business and Business Environment Assignment: Marks & Spencer
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Added on 2020-06-06
Business and Business Environment Assignment: Marks & Spencer
Added on 2020-06-06
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BUSINESS ANDBUSINESSENVIRONMENT
IntroductionThe business environment is that which means all the internal and external factors whichaffect the company functions that are employees, customers, management and having its supplyand demand and its regulations. This is something which cannot be controlled by firm itself andthey affect functions of the entity in great manner. Some of factors which affect them in hugeway those are customers, competitors, social, political, legal and technological factors etc.Company always wants to secure themselves from such environment and they are facing a lotproblem with internal and external changes. The report is based on marks and spencer (M&S).Company is leading retailers in UK and somewhere the firm is having around 1433 storesaround the globe and they are serving own brand food, clothing and home products too.Approximately 85000 employees are working for industry; Entity is founded by Sir MichaelMarks and Thomas Spencer. The report will discuss about purpose of private/ public andvoluntary organization, size and scope of public and voluntary sector, relationship of variousfunctions within company, positive and negative impacts the macro environment have on entity,pestle and SWOT of M&S, how strength and weakness with external factors. P1 Purpose private, public and voluntary organization and legal system.The every organisation is having a different legal structure in which they work. Theprivate, public and voluntary organization has various companies’ laws which have to befollowed by them to form their firm. If firm does not follow the rules and regulation of law thanthey has to wind up. The legal structure of such companies is as follows: Private structure:This is the company which is owned by privately individuals. Thistype of company is easy in formation because provisions of Companies' act 2013 does notapplicable with this. This company is formed with 2 members and only 2 directors. Such kind offirms is usually preferred by the investors just because they can buy and sell their stakes easily.The stakeholders are limit to 50 only. The maximum number of partners a firm can have is 200according to act. There is no limit for such firm to have number of employees work with them. Public structure: This Company is owned by public or by government. These types ofcompany raise funds from the public directly through issues of shares. Public company can haveminimum 7 numbers of stakeholders and minimum with 3 directors. There is no limit in the
number of shareholders but they have limited liability to its extent with its face values of itsshares. Public structure generally does not earn those profits for which they have been formed.Private sector earns more than the public sector always.Voluntary organisation: This provides some public service or having some purposeswhich goes beyond the serving society with personal interest as a member of NPO (nonprofitorganization). Somehow they make profit but they do not use such profit for personal use butthey use such profit for the development of society. Voluntary organisations generally have moreexpenses than income so they use to raise funds from the public. It uses section 21, and there istrust which uses the common law and trust and property control Act 57/1988. This organization system is different from each other; every firm uses various laws toform them. Many things are there which makes this entity different from each other. It isnecessary to form their business according to the law stated. A firm who follows the companiesact in right way than they not get any issues after getting registered with such laws. These firmswork according to requirement by business. P2 Size and scope of M&S and one from public and voluntary sector.The size and scope of company is very large, M&S is totally in serving society of UKwith their products. M&S has more than approximately 970 stores in particular UK only,company is having around 450 international stores around the globe, somewhere the firms foodproducts has taken rise in recent years and clothing sector has fallen down. The number ofemployees is around 85,000. The scope of company is like that firm can utilize technology and competition in betterway. Retail store has vast scope if they use technology and environment in perfect manner too.Using various ideas and planning for entity helps to make them stable in various countries ofglobe. Retail stores can expand them in perfect manner and they can attract as many stakeholdersfor their firm. The company M&S is already in many countries and they use available resourcesin perfect manner to make every customers satisfied and companies do take scope asopportunities and use technology in correct manner to cover the large market.
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