Business Environment of Arcadia Group Ltd - Report
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Added on 2020-07-22
Business Environment of Arcadia Group Ltd - Report
Added on 2020-07-22
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BUSINESS ANDBUSINESSENVIRONMENT
INTRODUCTION .....................................................................................................................................3TASK 1....................................................................................................................................................3P1 Define various types and purpose of business organisation.....................................................3P2 Size and scope of a range of different organisations................................................................3TASK 2....................................................................................................................................................3P3 Organisational functions are interrelated with its goals and objectives.......................................3TASK 3....................................................................................................................................................6P4 Positive and negative impact of macro environmental factors.................................................6TASK 4....................................................................................................................................................8P5 Conduct internal and external analysis of the company...............................................................8P6 How strength and weaknesses are interrelate with macro factors ........................................10CONCLUSION.......................................................................................................................................11REFERENCES ........................................................................................................................................11
INTRODUCTION Any business small or large cannot run in a vacuum, it obliges certain resources, i.e.capital, assets, human beings and further things in order to function appropriately. The termbusiness environment entails collection of units and individuals that are not in control of anenterprise. It involves internal and external factors which put a huge impact on businessactivities and operations. These aspects also influence growth, survival, performance level aswell as revenues of the firm, so that management is required to analyse these elements inorder to accomplish goals and objectives from target market (Avramenko, 2012). The presentcoursework is based upon Arcadia Group Ltd., it is one of the British retailer which whichown has high street clothing retailers, i.e. Burton, Perkins, Miss Selffridge, Topshop and theout of town chain Outfit, which sells lines from the other group chains. Along with this, themain motive of the company is to cater qualitative and value added items to target audiencesso as to attain and retain them for long term period. Apart from this, the assignment willdescribe various types, purpose, size and scope of business organisations. There will be adiscussion on the role of organisational functions in order to attain business goals andobjectives. TASK 1P1 Define various types and purpose of business organisationCovered in PPTP2 Size and scope of a range of different organisationsCovered in PPTTASK 2P3 Organisational functions are interrelated with its goals and objectivesIn this competitive era, business organisations are tend improve their workingactivities and operations so as to gain high market share and growth. A corporate associationis an intermixture of numerous functional areas which have diverse roles and responsibilities.Along with this, organisation structure is a framework which entails how it will function, itdefines the entire cultural and values of a firm (Burns and Winter, 2011). This can alsohamper marketing strategies, working practices, performance level, business decisions,employee relations, mission and vision as well. In this relation, it is vital for Arcadia GroupLtd., to develop an effective and efficient structure that is able to compete with externalrivals. Organisational structure encompasses with different departments, like – human
resources, marketing, accounting etc. Below is termed the brief explanation of thesedepartments, such as: - Marketing department – In every business unit marketing department supports toincreasing sales and profitability by promote goods and services between target audiences.Marketers develops marketing plans and policies by analysing market situation; it also helpsfirm to know needs and wants of customers so as to provide them higher level of satisfaction.Arcadia group Ltd., uses several marketing and promotional channels in order to grabindividual’s interest, such as- television, radio, internet, public relations etc. Marketingcampaigns are conduct by an individual or a group of people who are hierarchal system andare responsible for fetching firm’s goods and services in customers’ eyes (Chow and et. al.,2011). Since, marketing department is a key of success and revenue generator for privatebusiness associations and requires efficient people who are capable to deal as well asinfluence others to purchase products. Finance department – Finance is the lifeblood of entire corporate entity, without thisany business cannot survival or conducts its activities in an efficient manner. Financedepartment covers overall information that helps managers to take important businessdecisions. It manage all cash inflows and outflows in an organisation and also describes theavailability of appropriate funds in order to make day to day payments at workplace. Privatecompanies can generate capital from different sources, like- credits, bank loans, angelinvestors, crowd funding etc. so as to accomplish or complete working activities in the bestpossible manner. In Arcadia Group Ltd., finance manager formulates an annual budget whichrelates with the amount that will be spend on all business practices. Human resource department – It is one of the crucial department that is liable formanaging workforce within organisations. If employees are having higher job satisfactionlevel then they will attain and retain at workplace for long term period. However, humanresource department controls and cope different functions, such as- recruitment, selection,training, compensation, labour relations, performance appraisals etc. HR manager of thecompany focus on improving employees’ skills and knowledge so as they can do all tasks inthe best possible manner. It results enhancement of performance level that will maximiseentire output level of the company. Another role of human resource department is to maintainhealthy and positive working environment in organisational cultural. HR professionals also
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