Business Environment Assignment Solution - TESCO
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Added on 2020-12-10
Business Environment Assignment Solution - TESCO
Added on 2020-12-10
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Business and BusinessEnvironment
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Different types of business concerns along with their legal structure...............................1P2. Explain size and scope of different types of business concerns.......................................3TASK 2............................................................................................................................................5P3. Relationship between various organisational functions and their relation in achievingorganisational objectives........................................................................................................5TASK 3............................................................................................................................................6P4 Positive and negative impacts of macro-environmental factors........................................6TASK 4............................................................................................................................................8P5 Internal and external analysis of specific organisation to identify strength and weaknesses.................................................................................................................................................8P6 Interrelation of strengths and weakness of macro environment elements on a company.9CONCLUSION..............................................................................................................................10REFERENCES................................................................................................................................1
INTRODUCTIONBusiness environment is a quite anonymous term. It mainly focusses on all internal aswell as external forces or factors that are a part of business or in any way affect business. Thesefactors ave a quite significant impact over various business functions. Examples of factorsincluded in this context are customers, political factors, suppliers, economic factors etc. All thesefactors play a quite significant role in maintaining functionality of business and also leading tohealthy relationships with customers in competitive market as well (Business environment.2018). This report considers TESCO which is a private sector business concern dealing in retailindustry. It is basically a supermarket chain store with its headquarters in England. Furthermore,this report focusses on different types of business concerns such as private, public and voluntaryalong with a brief discussion regarding their legal structure. This report also mentionsinterrelationships of various organisational functions combining with internal and externalenvironment analysis by infusing SWOT and PESTLE.TASK 1P1 Types of business along with their legal structure.Business environment basically is a marketing terminology which combines both internalas well as external market factors that work in a coordinated or a collaborative manner and helpin smooth operational functioning of business concerns as well. In context of business concerns,it has been examined that every business today has varied aims and objectives which they wishto achieve so as to be successful in competitive market. Many a times even such a conditionhappens that external environmental factors are not under the control of business. Various typesof businesses have further been mentioned as under: Private sector organisation:A private sector business concern is one which is owned,managed or controlled by individuals, agencies or partnership agreements as well. Main aim ofpeople behind choosing this type of business entity is to generate huge amount of profits. In thepresent TESCO has been chosen which operates as a supermarket chain store (Chetwood and et.al, 2014).Purpose of private organisation: Purpose or aim of every business entity is quitedifferent from other. Hence in this context, purpose of TESCO is to enhance productivity andbrand image of its business by providing excellent quality goods and services,1
Legal structure: Legal structure refers to a structure that has been incorporated by lawbodies. There are some legal requirement for setting up private organisation such asshareholders minimum two and maximum 200, directors minimum number of 2 and a maximumnumber of 15 and so on.In context of private sector companies, their legal structure can furtherbe classified into two broad categories which have further been specified as under: Sole Proprietorship: Sole proprietorship refers to a type of business entity which hasbeen known to be owned, managed and controlled by a single individual. Hence, in such a typeof business entity decision making lies in the hands of a single person (Gharajedaghi, 2011).Partnership: Partnership is a type of business concern in which two or more people jointheir funds and resources so as to run business in an effective and smooth manner. Also partnersof a business share their profits and losses equally in a business or as per the ratio decided bythem.Public Organisation: Any business entity which has been run by government of acountry or offers its shares in public are referred to as public sector companies. These companiesare owned managed and controlled by government or government officials as well. These type oforganisations mainly formed by the government under a special act of parliament. All thepowers, objectives, rules and regulations of the organisation is decided by the government or bythe act of legislature. Purpose of public sector company: Crown prosecution services or CPS aims is to helpthe community by providing judicial and law based advice to investigation agencies and generalpublic so that they can easily resolve their legal issues.Legal structure of public organisations: In context of legal structure public sectorcompanies can further be divided into two categories which has been discussed as under: State government: Companies that are run managed and controlled by state governmentfall in this category. Main aim of such business concerns is to monitor requirements of commonpeople.Local government: Companies that are run managed and controlled by local bodies arereferred to as local government companies. Such businesses aim towards fulfilling needs andrequirements of people. Voluntary Organisation: The word is derived from the Latin word “Voluntas” whichmeans freedom and will (Crane and Matten, 2016). This type of organisation is not controlled or2
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