Business and Business Environment Assignment Solved - Yorkshire Bank
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Added on 2020-10-22
Business and Business Environment Assignment Solved - Yorkshire Bank
Added on 2020-10-22
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Business and BusinessEnvironment
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Presenting different types and purpose of organization..............................................................1Explaining the size and scope of different types of organization...............................................2TASK 2............................................................................................................................................4Explaining the relationship between different organizational functions and how it helps toattain the objectives.....................................................................................................................4TASK 3............................................................................................................................................6Identifying the positive and negative impact upon Yorkshire by using PESTLE analysis........6TASK 4............................................................................................................................................8Identifying the strength and weaknesses by using SWOT analysis............................................8Explaining how strength and weaknesses interrelated with external macro factors.................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONBusiness environment plays an effective role in every business such that it is a sum totalof all the external and internal factors that keep influences the business and its performance level.The report main objective is to understood the deep meaning of the external and internal factors.The report is based upon a case scenario of Yorkshire Bank which is one of the top and leadingbank in UK who operates more than 4000 offices at world level. Quoted firm also provides rangeof financial services such as commercial banking, investment banking and market personalfinancial services. The report explains the different types and purpose of an organization withtheir legal structure, size and scope. Further it describes relationship between differentorganizational functions of two clients of the banks and how they link with a firm's objectives.Moreover, report identifies positive and negative impact of macro and micro environment byusing PESTLE and SWOT analysis and then explains how the strength and weaknesses areinterrelates with external factors.TASK 1Presenting different types and purpose of organizationIn UK, there are different types of business and they all have different objectives andsome of them are as follows:Public Sector: This sector includes the public goods and some governmental servicesand their main aim is to serve for the welfare of the country, they did not produce the goods forprofit maximization. This sector is governed by government and financed by the localgovernment (Charter, 2017). For example, Halifax is a public limited company which is a client of Yorkshire Bank.Private Sector: The main objectives of private sector is to earn profit and run a businesstowards a success. This sector is run by the private and individual groups and it does not controlby the state. Further this sector is one of the largest sector in UK in which government imposesvery low restriction on a business but it has been realised that it contributed some part for thegrowth of an economy (Erasmus, Strydom and Rudansky-Kloppers, 2016). For example, GHD is a private company who is another client of Yorkshire and it is amultinational technical professional service who provides engineers and architecture a consultingmanagement services. 1
Voluntary Sector: This sector is also known as third sector because it is a contrast to thepublic and private sector (Laudon and Traver, 2016). This sector main aim is to serve for thewelfare of the society and its main purpose is to benefit and enrich society without a motive ofprofit earning. This sector have no government intervention and whatever the profit is earnedthat is invested back into the community or an organization itself. For example, Co- op is a voluntary sector in which the Yorkshire bank provides financialservices in order to enrich the society.Explaining the size and scope of different types of organizationBasisofcomparisonPublic sectorPrivate sector Voluntary sectorSize and ScopeIn UK, the size and scopeof public sector is widesuch that this sectorcontributes around $44,000 GDP per capita.In UK, there are around83 percent of the firmwhich are listed privateand this shows that thesize is wide ascompared to othersector (Fatehi and Choi,2019).The voluntary sectordid not share as muchamount and the scopeis also limited and thisshows that the size andscope is limited ascompared to othersectors. ObjectivesThis sector main objectiveis to provide services forthe welfare of the publicand to raise the economyof the country (Turner,2019). Their main objective isto maximize the profitby offering high qualityof products and servicesto their customers. Voluntary sector alsoserve for the welfareof a society and theyare more focused onsocial wealth. Legal structureThe legal structure ofpublic sector is such that itmust have 3 directors andit is controlled by thegovernment. The legal structure ofprivate sector is suchthat it must have at least2 directors and at least15 directors and theownership of the firm isThe legal structure ofvoluntary sector issuch that it is alsocontrolled by thegovernment anddirectors must have to2
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