Assignment: Business Environment

Added on - 22 Nov 2020

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Business and BusinessEnvironment
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Different types, size and scope of organization......................................................................1CONCLUSION......................................................................................................................4TASK 2...........................................................................................................................................4Organisation structure............................................................................................................4Functions of the organisation.................................................................................................6TASK 3............................................................................................................................................7PESTLE Analysis of JP Morgan...........................................................................................7CONCLUSION......................................................................................................................9TASK 4............................................................................................................................................9Swot Analysis Of JP Morgan and internal factors impacts on business...............................9Explaining interrelated with PESTLE factors.....................................................................11CONCLUSION...................................................................................................................12CONCLUSION.............................................................................................................................12REFERENCES..............................................................................................................................13
INTRODUCTIONBusiness environment is regarded the internal and external environment in whichcompany regulate its business operations. There are various factors in business environment thatprovide major influence on decisions and functions of organisation. Further, there are variouskinds of entities depending upon the size and scope. In present context, analysis of JP MorganFinance and investments which is 4400 establishment across the world and is one of leading andmost respected investment company. In this report, there are various kinds, size and scope ofventures have been discussed such as sole trader, partnership, limited, public limited andvoluntary business enterprise. These major enterprise have their existence in UK and providemajor contribution towards growth and development of economy (Blockeel and et.al., 2016 ).In addition to this, different types of organisation structure is also discussed along withthe introduction of its relationship with other functions. Further, analysis of macro environmentfactors and their influence on business operations of organisation is also evaluated in thisreport. PESTLE analysis model is used to determine the influence of macro environment factorson business operations. At last, SWOT analysis model is used to determine the influenceinternal environmental factors on business operations.TASK 1Different types, size and scope of organizationOrganization is analysed as social unit which is structured and managed in order to meetthe requirement and pursue the collective goals. It is also considered as an entity whichcomprises various people that has a particular goal and is also linked to an external environment(Hilton and Platt, 2013). Every business enterprise has a management structure whichdetermines relationship between their different activities and members and assigns roles,responsibilities and authority in order to carry out different tasks. Different organization havedistinctive purpose behind regulating business operations such as profit maximization andgaining market share. In UK, Tertiary sector mainly has its existence which involvedcommercial services that support the production and distribution process Eg retail, transport,advertisement, warehousing insurance.Sole trader or sole proprietorshipis simple business structure in which established oneindividual, runs and owns the entire business operations. They are legally responsible for every1
aspects of their business, and personally liable for their business's financial resources. In this,employer can generally make all the decision about introduction and running business as well ashiring individuals (Carroll and Buchholtz, 2014). The main advantage of this creating thisventure is that it contains low start-up cost and helps in regulating business operations in theeasiest manner. Employers sole trader are only responsible for outcomes of their decisions.However, unlimited liability for debts is considered as disadvantage because there is no legaldistinction between private and business assets. Individual needs to face various issues in gettingfinancial resources for establishment of business. For example:LegabilityLtd is a sole traderwho offers the services of bookkeeping which is a local, a friendly and running by a familybusiness with the main offices in Calne and Taunton. It is a professional business which wasestablished in 2002 and was incorporated in December 2003. The company specialises in puttingthe needs of the clients at a high priority and offers the rates according to the competition. Theentity is registered with Institute of Certified Bookkeepers (ICB) and has been provided thepractising licence. Services offered by the company are-Bookkeeping,Sole Trader in Accounts/Tax Returns, Small Company Statutory Returns, Partnership Tax Returns, VAT Returns,Management Accounts, Payroll, Credit Control and Cover for Maternity/Long Term Sickness.The next example can be cited of Gary J Harding, which is also a sole trader and a charteredaccountant. TheGary J Harding Chartered Accountantsin Hemel Hempstead, the proprietorbelieves in helping the business men of UK in such a way that they can get best out of theirbusiness. The company offers variety of services in accountancy, tax planning and planning ofbusinesses in local areas in and around of Hertfordshire. The company works for appreciating thevalue of its clients in order to grow and get success in the business. The entity aims at achievingthe goals of its clients in a reliable and friendly manner.Partnershipis analysed as formal agreement in which two orparties corporate with eachother to manage and regulate a business. Various important partnership arrangement are possiblein which all partners which might share liabilities and profits equally or some partners will havelimited liability. In partnership, financial resources are invested by parties in a particularproportion in which they share profitability (Wetherly, 2014). Every individual is areresponsible for carrying out business operations and they are also liable for profits & loss.Partnership provides an opportunity for income splitting an advantage of particular importancedue to resultant tax savings. However, disadvantage of partnership venture is that the liability of2
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