(solved) Business and Business Environment- Assignment
15 Pages4485 Words289 Views
Added on 2020-11-23
(solved) Business and Business Environment- Assignment
Added on 2020-11-23
BookmarkShareRelated Documents
BUSINESS AND BUSINESS ENVIRONMENT
TABLE OF CONTENTS INTRODUCTION...........................................................................................................................1 PART 1............................................................................................................................................1 1) Difference between distinct kinds of organisations with their business purpose and supply.1 2) Determining the size and scope of different organisations.....................................................2 3) Different structures of organisation and the way they relate with mission and objectives of business........................................................................................................................................4 PART 2............................................................................................................................................6 a) Application of PESTLE model to examine the way macro environment is impacting the UK retail sector...................................................................................................................................6 b) Application of SWOT analysis and Porter’s five forces model to Marks and Spencer..........8 CONCLUSION..............................................................................................................................10 REFERENCES..............................................................................................................................11
INTRODUCTION Environment in which businesses are operating today is highly dynamic and thus, to remain competitive and able to deal with changes effectually, it is important for organisations to adopt suitable strategies. For companies to stay in market with gaining success and growth, giving due consideration to theenvironment in which they are operating is of utmost significance (Ahmed andAlam, 2014). In the present report, there will be discussion on different types of organisations with their scope, size, structure and functions. Also, the interrelationship of organisational functions with mission and objectives of business will be highlighted. Further, with reference to Marks and Spencer which is a British multinational retailer, based in the UK, application of PESTLE, SWOT and Porter’s Five Forces Model will be given the assess the way externalenvironment of impacting on UK retail industry and influencing decision of company. PART 1 1) Difference between distinct kinds of organisations with their business purpose and supply Differentiating profit, not for profit and non-governmental organisations (NGOs) Profit organisations are mainly firms having purpose to offer goods and services to customers with an aim to earn higher profits and maximise the wealth of shareholders like John Lewis Partnership, Bestway Group and Virgin Atlantic. These firms are involved in certain business activities which are legal as they comply with all regulatory norms and policies. On the other hand, not for profit organisations like AdviceUK, The Facilities Society and Bristol Energy are those firms which operate without having any aim regarding earning profits for owners or shareholders (Fritz, 2018). Instead, they aspire to earn the income and re-utilize it for attaining goal of organisation in the local community or globally. Major difference in between both these kinds of organisations can be calculated through the measurement of success. Apart from that, there are also non-governmental organisation, mainly known as non-profit firms which are independent of government and governmental associations on international level which means there are not restrictions imposed by regulatory authorities on them (Karns, 2018). Some of the well-known non-governmental organisations in the UK are Children, Abbey National Charitable Trust, Oxfam, Cancer Research and British Red Cross. These firms operate their business to serve some social and political purpose and mainly funded by private donations, governments or international organisations. 1
Different purposes of business and supply of goods and services Major purpose of profit organisations like John Lewis Partnership, Bestway Group and Virgin Atlantic is to increase their profits from higher sale of goods and services which are developed and sold in such a way that is desired by the customers and ultimately lead to generate higher revenues. These firms mainly operate as sole proprietors, partnership or company. So, they get started with the investment made by sole proprietor, partner or the shareholders of particular concern as well as managed by them only (Xu and et.al.,2016). Whereas, for not for profit firms like AdviceUK, The Facilities Society and Bristol Energy, main purpose behind running business is to raise money so that needy societies can be served and their causes can be advanced. Profit which they earn remain in the business that is further used to sustain their mission. Their major purpose to perform business is for the welfare of society and members by generating revenues from the sources like donations, fees and contributions and supplying goods and services to people to fulfil their unsatisfied needs. Ownership which non-profit organisations possess can be referred as the association of persons in the form of trusts and club societies as wellastheirmanagementisdonethroughgoverningbodies,committeesortrustees (Kandampully, 2011). On the contrary, main purpose of NGOs is to promote and take care of a specific cause. These firms mainly operate with an aim to increase awareness regarding some like for serious diseases along with acceptance and knowledge through different ways such as by organising campaigns, press work and activist event. 2) Determining the size and scope of different organisations Differentiating micro, small, medium-size and large enterprises Microenterprisesarebasicallythesmallorganisationswithverylessnumberof employees working there with minimum capital. These enterprises operate with less than 10 people and business gets started with a very small amount of capital. They are generally vast in number who start their business due to necessity and add value to the economy by generating and rising income with reducing the overall cost of business. They mainly produce products and services for the people residing in local areas in the form of local farms or food staples from a small store. On the other hand, small enterprises are those businesses which employ small number of workers in the firm and possess low volume of sales (Akehurst and Alexander, 2012). Size and scope of these businesses is limited as they are independently owned as well as their revenue also 2
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Business & Business Environment Assignment - Marks and Spencerlg...
|15
|4479
|104
(solved) HND Business Managementlg...
|12
|4289
|496
business environment assignment sample : Marks and Spencerlg...
|14
|4561
|29
(Doc) Business and the Business Environment - Marks and Spencerlg...
|13
|4226
|34
Types of Organizations - Assignmentlg...
|14
|4134
|454
Report on Analysis of Retail Market in UK - M&Slg...