Business and Business Environment - Farkas
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Added on 2021-01-01
Business and Business Environment - Farkas
Added on 2021-01-01
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Business and Business Environment1
Introduction:....................................................................................................................................3Task 1:.............................................................................................................................................3LO1:.................................................................................................................................................3P1: Different types and purposes of organizations:.........................................................................3P2: Size and scope of range of different types of organizations......................................................4LO2:.................................................................................................................................................6P3: The relationship between different organisational functions and the way they link tocorporate objectives and structure:..................................................................................................6Task 2:.............................................................................................................................................8LO3:.................................................................................................................................................8P4: The positive and negative impacts the macro environment has on business operations,supported by specific examples:......................................................................................................8LO4:...............................................................................................................................................10P5: Internal and external analysis of specific organisations to identify strengths and weaknesses:.......................................................................................................................................................10P6: Strengths and Weaknesses interrelate with external macro factors:.......................................11Conclusion:....................................................................................................................................12References:....................................................................................................................................132
Introduction:All internal and external factors that govern the method how a company works and handlesemployees, customer management, business adjustments, and the demand and supply interrelationship; can altogether be named as Business and its Environments. The success rate of abusiness is judged by how it responds to changing environmental conditions and allocating itsresources wisely and timely manner and how well it adapts itself accordingly. The raw materials,the demand and supply of goods, customer preferences all are variable and it is the job of thebusiness head board to act accordingly for success of the business. As opined by Farkas (2015),an UK based company has been selected for investigating the types and sizes of business; thisfirm has to face competition with. British Airways Limited has been chosen to find its positionand the features of the business environments and the competitions in the market.Task 1:LO1:3
P1: Different types and purposes of organizations:Business environment can be broadly classified into two categories:A.Micro Environment (Internal Environment): This includes the factors that strikeimmediate effect in the performance of a firm. The supply, the demand, the customerpreferences, the trend, work power, associations, competitions are the factors that fallin this category (Hellman, 2010). These provide immediate variations in the planningand directing of a business firm. 4
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