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Business and Business Environment Legal Structure
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Added on 2020-11-23
Business and Business Environment Legal Structure
Added on 2020-11-23
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Business and BusinessEnvironment
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1. Types of organisation and their legal structure.....................................................................1P2. Size and scope of different types of organisation.................................................................4TASK 2............................................................................................................................................5P3 Relationship between different organisational function and their link with organisationalstructure.......................................................................................................................................5TASK 3............................................................................................................................................8P4 Positive and negative impact of Macro environment on Business operations.......................8TASK 4..........................................................................................................................................11P5 Internal and external analysis of Mark & Spencer...............................................................11P6 Strength and weakness interrelated with external macro factors ........................................12CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................15
INTRODUCTIONBusiness includes commercial activities performed to achieve profits. The activities areperformed by group of people in accordance to business environment. Business environmentmeans internal and external elements such as customer, employees, government,. Suppliers, etc.Due to change in external factors business growth gets affected (Apăvăloaie, 2014). So managerhas to analyse external components and accordingly actions has to be taken. In businessenvironment, there are varieties of competitor, so manager has to analyse their policies andaccordingly changes has to be made. In this report there is discussion about Marks and Spencerwhich is one of the best retail sector established in 1884. This has headquarter in City ofWestminster, London. In this report there is discussion about various types, size and scope oforganisation, functions of various department and their interrelation. This report also tells aboutpositive and negative impact of macro factors of business and lastly this tells about internalstrength and weakness and its interrelation with external macro environment. TASK 1P1. Types of organisation and their legal structureOrganisation refers to the group or individuals who are associated for accomplishment ofcommon goal or objective. Each enterprise is different in term of their structure, size, scope andthe way in which they operate business (Beckmann, Hielscher and Pies, 2014). Following are thesectors to which different organisation belongs:-Primary sector:- The primary sector involve activities related to the extraction andarrangement of raw material such as coal, wood, iron etc. which are required to producefinal product. Secondary sector:- This sector includes transformation of raw material into finishedgoods, secondary sector therefore includes activities like manufacturing, processing andconstruction industries. Tertiary sector:- Tertiary sector includes activities like production and exchange. Theproduction activities include provision of services and its consumption whereas,exchange involve transportation, trade and communication facilities. Types of organisations:-Following are the type of organisation with their legal structure:1
Private organisation:- Business which is owned and operated by one or group ofindividual and is not under the control of government is known as private organisation. Privateenterprises can issue stocks but are not eligible for trading in public stock exchange. Mark &Spencer is taken as an example for private enterprise, which is an supermarket retail chain storessituated in UK (Bernstein, 2015). M&S generally belongs to Tertiary sector.Purpose:- Main purpose of private organisations is to generate maximum profit and to expandtheir business. Advantage:- Liabilities of shareholders are limited and members are not liable for the debts ofenterprise. Disadvantage:- Private limited companies can not issue their prospectus to general public. Legal Structure:-Sole proprietorship:- Sole trade or proprietorship refers to a business which is owned &operated by single individual and that individual is personally liable for all its revenueand debts. Partnership:- It refers to an agreement between two or more individuals to operatebusiness for the achievement of common goal. Partners pool money as well as resourcesand also shares profit and losses. Limited company:- limited company refers to the business in which partners have limitedliabilities either limited by shares or by guarantee. Public organisation:- These businesses are generally owned and operated by thegovernment and are present for providing services to their citizens. Public sector enterprisesdoesn't seeks to operate profit, they only work for the welfare of the society (Bocken, Rana andShort, 2015). National Health Services (NHS) is a public sector enterprise, headquartered in UKwhich provides public health care services and performs tertiary activities. Purpose:- Purpose of public sector enterprise is to service citizens and contribute towardeconomical wealth of country. Advantage:- Public enterprises are autonomous hence, enjoys flexibility and independence intheir operations. Disadvantage:- When public enterprises incurred losses then that loss is bear by eithergovernment or result in higher taxation. Legal Structure:-2
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