Essay on Business and Business Environment - M&S
Added on 2020-07-23
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BUSINESS AND BUSINESSENVIRONMENT
Table of ContentsINTRODUCTION...........................................................................................................................1Task 1 ..............................................................................................................................................1P1 Determining Purposes of different types of Organisations.....................................................1P2 Size and scope of different types of organisation...................................................................3TASK 2............................................................................................................................................4P3 Explaining Relations among different organisational purpose, their link with structures andobjectives.....................................................................................................................................4Task 3 ..............................................................................................................................................7P4. Positive and negative impact of macro environment upon business organisation................7Task 4 ..............................................................................................................................................9P5 Studying on Internal and External Analysis...........................................................................9P6 Ways in which Strengths and Weaknesses interrelate with macro factors...........................10Conclusion.....................................................................................................................................11References......................................................................................................................................11
INTRODUCTIONBusiness environment compiles of different process and production which are interrelated with attaining of aims and objectives. It is dynamic in nature therefore it affects everyprocess which can go both ways, either positive or negative. Moreover it can help in gainingefficiency in working environment or performing tasks in an effective manner. “BusinessEnvironment” single word but both letters got different meaning and when combined , definesthe business aspects. Business, in simple words bunch of activities performed like production,sales and purchase. Environment means the place where these activities takes place. Two factorsmainly which affect organisation are: External and Internal Environment. Under Internal factorsthere are five factors {Money, machinery, materials, and man power}. External environmentconsists of political, social, governance and legal factors. Under this research, Marks and Spencer (Abbreviated as M&S) has been opted which is aBritish Multinational company headquartered in London. In 1884 this company was founded byMICHAEL MARKS and THOMAS SPENCER in Leeds where both met for jobs. Clothing,home products and luxury food items are certain sector in which company works. In current,company has approx 1459 stores opened across Globe in which 625 stores only sell foodproducts. M&S have expanded their business in India consisting of 60 stores, 38 in Russia andmany more countries. They are successful in improving graph sales of food whereas clothingsector is falling down. Under this study, specific intellectual research will be conducted on some specific topicslike different types, sizes and scope of M&S. Significant factors which will be determined isinternal and external environment. Apart from that SWOT and PESTLE analysis will be done onM&s in order to determine strengths and weaknesses of the company. Task 1 P1 Determining Purposes of different types of OrganisationsIn current competition environment, several types of organisation performs to gain highgrowth in market and acquire good share in marketplace. This is beneficial for society andeconomic conditions as well (Avramenko, 2012). On the basis of business process, these bodiesare divided into three sections, mentioned under:-1
Public sector: This type of sector is owned and run by governance bodies who regulatesthis sector to give best services to the members of society. Being the root of this sector'Finance' can be called as power house which comes from the people in form of tax andthen this tax is allocated as finance in Govt. firms for economic development of society.British Broadcasting organisation is an illustration of public service provider. They runwith the purpose of enriching people's lives with programmes and services that educate,inform and entertain by being creative corporation in the world. The government runs theorganisation through revenue generated in the form of taxes. The aim is to providequality services to viewers. It employs people on full times and part time basis. The workforce of this organisation is 20,916 in number. The net income for this establishmentaccounted for 59 million euros. Private Sector: This sector is owned and run by private firms. Although, authorities are inhand of Govt. as rules and regulations are governed by government. Still somewhatfreedom is enjoyed by the private firms. Different types of process which can be seen inprivate sector are sole proprietorship, partnership, or it can be franchises. For example:M&S is a private firm which have market share across global. It is a British multinationalretailer headquartered in London. This company was established in 1884 by MichaelMarks and Thomas Spencer. In present scenario, they have franchises all around theworld which are working on own set of rules but still the legal section are under the eyeof Govt. of respective country. In 2017, there are more then 1000 stores out of which 615consists of food stores. Number of employees are more then 250,000 with turnover of10,622 million Euros. Purpose of M&S is to make inspirational quality accessible toothers. Voluntary Sector: This sector is not particularly owned by any single entity. However,there are some bodies which are responsible for ensuring the completion of aims andobjectives. NGO (Oxfam) can be seen as example of voluntary sector because Oxfam isnow owned by any single or in partnership entity but its aims and objectives which arehelping old age people and not only human but animals as well who needs help areensured to be achieved by some of the employees. The main purpose of Oxfam is tocreate lasting solutions to the exploitation towards poverty. There is no data regarding2
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