Business and Business Environment Assignment: M&S
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Added on 2020-06-06
Business and Business Environment Assignment: M&S
Added on 2020-06-06
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BUSINESS ANDBUSINESSENVIRONMENT
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1PART 1............................................................................................................................................1P1 Purpose of private, public and voluntary organisation along with their legal structure........1P2 Size and scope of private, public and voluntary organisation...............................................5P3 Relationship between the various functions within M&S for achieving business objectives......................................................................................................................................................7PART 2 ...........................................................................................................................................8P4 Positive and negative impacts of macro environment on business operation of M&S.........8P5 Internal and External analysis of M&S to identify strengths and weaknesses......................9P6 How strengths and weakness interrelates with the external factors.....................................12CONCLUSION .............................................................................................................................12REFERENCES..............................................................................................................................13Illustration IndexIllustration 1: Legal structure of public and private sector..............................................................4Illustration 2: Legal structure of Voluntary sector...........................................................................5Illustration 3: PESTLE analysis.......................................................................................................9Illustration 4: SWOT analysis........................................................................................................11
INTRODUCTIONBusinesses are performed in an environment depending upon the size, scope andpurposes. On the basis of these parameters, they can be divided into private, public and voluntary(Bhowmick and Prasad, 2017). This study will help in identifying different types of business andwill render knowledge of their functioning. Besides this, legal structure of all three types oforganisations will be explained in this workpiece. Further, relationship between variousdepartments will be described to achieve the organisational goals. There exist some internal andexternal factors that impacts upon an entity. They are micro and macro environment factorswhich do impact on business either directly or indirectly. In the present undertaking, bothinternal and external analysis will be conducted to analyse the impact of micro and macro factorson the effectiveness of the operations. Further, relationship between the strengths andweaknesses with the external factors will be explained.For the present report, the selected organisation Marks and Spencer (M&S) whichbelongs to private sector will be taken into consideration. Cited organisation is a renowned namein fashion industry and operates globally. Thus, in order to manage a company like M&S, it iscrucial to have understanding of business, its' functions and operating environment.PART 1P1 Purpose of private, public and voluntary organisation along with their legal structure.There are mainly three types of business sectors based on their intents, which are: Private,public and voluntary. Purposes of these units along with their legal structures are explainedbelow in detail:Private Sectors: This sector is owned by a private individual who works for making maximumprofit out of the business activities. They are fully controlled and managed by the individual. It isfurther categorised into two sections: Limited and Non-limited organisations. This type ofcompanies also contributes a major part in GDP of a nation. The selected firm, M&S belongsfrom this group. The entity is controlled by the responsive company authorities. Further, itbelongs to the public limited company category of the sector (Roigé and et.al., 2017). Thepurpose of the entity is to earn maximum profit by rendering their products and services to thecustomers. It raises money from issuing shares and debentures. Some other examples of1
companies that belongs to this sector: Next, ZARA, etc. The legal structure that is followed bythe Marks and Spencer is as follows:Legal Structure: Legal structure of this sector is based on four factors, ownership, businesscontrol, method top raise finance and profit distribution. Depending upon these elements, somedifferent type of structures are as follows:Sole Traders: In this legal structure, there is a single person who runs the business with asmall amount of investment. M&S also started its business as sole traders. In 1884 whenthe firm has established there was a single stall in the Britain. However, with the greatwork and tremendous efforts, the organization has turned out to be a leading globalplayer in retail sector for clothing. It should be recognised that there are so manydisadvantages of this type of business such as all the risks and losses are to be handled bya single person (Yadav and et. al., 2016).Partnership: This legal structure is mainly developed to overcome the issues that dooccurs in the sole trading. In this type of business, the value is shared between two ormore person/parties. Thus, all the members are then liable for the losses, risks, profit, etc.Private Limited Companies: Private limited or Pvt. Ltd companies are the joint-stockentities possessing individual legal identity. There are various shareholders of thiscategory that are integral unit of the business. Mainly, such types of firms are controlledby families which are later owned by the shareholders. Public Limited Companies: Public limited or PLC are comparatively larger form of joint-stock entities than Private limited companies. The selected entity, Marks and Spencerbelongs to this business structure. The company is governed by the Board of Directors.Co-operation: In this type of business structure, the public-sector entities are transformedinto private firm due to some reasons. This process of transformation is termed asprivatisation (O’Brien and et. al., 2017). Franchising: In the recent years, this method of business has become an important tooland used by various international organisations. This is the most effective method and theselected firm also have various franchisees worldwide. Public Sector: This sector is that section of a country's economy which is completely undercontrol of government. These firms may work under state, federal or regional administration.2
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