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Business and Business Environment - Assignment

   

Added on  2021-02-20

18 Pages5584 Words93 Views
BUSINESS ANDBUSINESS ENVIRONMENT
Business and Business Environment - Assignment_1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Explaining the different types, size and scope of organisation..............................................1TASK 2............................................................................................................................................5Types of organizational structures..........................................................................................5Relationship between different organizational functions for achieving organizationalobjectives................................................................................................................................7TASK 3............................................................................................................................................9The impact of macro environment on the operations of organisation....................................9TASK 4..........................................................................................................................................11SWOT analysis of the company...........................................................................................11Interrelationship between external factors and internal factors............................................13CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................15
Business and Business Environment - Assignment_2
INTRODUCTIONBusiness environment is the collection and sum of all internal and external factors such asemployees and customers needs and expectations, supply and demand, suppliers, innovation intechnology, social trends, market trends, economic changes, government activities andmanagement (Beatty, Samuelson and Abril, 2018). Present study will base on the Merrill LynchInvestment company. This had around 4400 offices worldwide and is one of the UK leadinginvestment company. The company is also providing an intensive range of financial servicessuch as commercial banking, investment banking, market personal financial services. Study laysemphasis on the different types, size and scope of organisation and also highlighted theadvantage and disadvantage of organisation. Report will discuss about the interrelationship of thevarious functions within organisation and link with organisational structure. Study will identifythose factors which influence business in negative and positive ways for that report will cover byPESTEL analysis. It will also determine the strength and weakness of business and explainingtheir interrelationship with external macro factors with SWOT and TOWS analysis.TASK 1Explaining the different types, size and scope of organisation.There are different types, size and scope of organisation are underneath: Sole trader’s organisationThe sole trader business is owned by one person. Most of the sole trader businessesoperate in the services sector like restaurant, hairdressers etc. For example: Forest Side, Cumbriais a sole trader restaurant in the UK. Advantages and disadvantages of sole trader organisationare as follows:AdvantagesThis kind of business has advantage which maintain full control oftheir business.Sole traders business retain all the profit for their business.Disadvantage Disadvantage of sole trade business is unlimited liability for debtsas there's not have any legal distinction between the private andassets of business (Erasmus, Strydom and Rudansky-Kloppers,2016). Business often find it difficult to build finance for their business.1
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They will struggle for expansion in the future.Partnership organisationA partnership is business, there are two or more owners of the business and enterprise. Inthis kind of business partners sets deed of partnership. Partnership deed includes roles profitsharing ratio, mission and vision statement etc. For example: John Lewis partnership firm.Advantages and disadvantages of partnership firm are as follows:Advantages The advantage of partnership firm is a suitable type of organisationbecause in that not require legal formalities.Other, this business has large resources like person are available forbusiness. DisadvantagesHaving more people in the business, it can be complicate fordecision-making process and also decrease profits.Disagreement between profit sharing ratio partners, it is one biggestreasons that companies are dissolve. Public organisationPublic organisation is generally operating and owned by government and exist to provideservices for its citizens (Hillary, 2017). For example: Tesco is public company is publiccompany at UK. Advantages and disadvantages of public company are as follows:Advantages The public company is provide the best services in whole country.Public company is generally provide lower rate education, medicaltreatments to public.Disadvantages It is very difficult to manage public company.Public company, most of the time suffers a financial loss, thegovernment will provide subsidies to covers this loss.Private organisationPrivate organisation is refers to any person, partnership, corporation and agencywhich is not cover in public body that is operates for profit. For example:Merrill LynchInvestment is private company. Advantages and disadvantages of private company areunderneath:2
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