Business and Business Environment Introduction
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Added on 2020-06-06
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2 TASK 22 P3 Relation among different organisational functions and their linkage with firm's objectives. 8 TASK 48 P5 Internal and external analysis to know the firm's strengthand weaknesses 8 P6 Interrelation of strength and weakness with macro factors 9 M4 SWOT analysis of HSBC 10 CONCLUSION 11 REFERENCES 12 INTRODUCTION In today's world of industrialised society, term businessis considered as a set of activities such as marketing, producing, purchase, sales of
Business and Business Environment Introduction
Added on 2020-06-06
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BUSINESSANDBUSINESS ENVIRONMENT
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Explain different types of organisation..................................................................................1P2 Size and scope of different types of organisation..................................................................1M1 Structure, size and scope effects business objectives...........................................................1D1 Complexities of different kinds of business structures and interrelationship withorganisational function................................................................................................................2TASK 2............................................................................................................................................2P3 Relation among different organisational functions and their linkage with firm's objectives......................................................................................................................................................2M2 Advantage and disadvantage of interrelationship between different organisationalfunction.......................................................................................................................................4TASK 3............................................................................................................................................5P4 Positive and negative impact macro environment has upon business operations..................5M3 PESTLE model to support analysis of impact of macro factors...........................................7D2 Critical evaluation of Impact of macro and micro factors on business operations...............8TASK 4............................................................................................................................................8P5 Internal and external analysis to know the firm's strength and weaknesses..........................8P6 Interrelation of strength and weakness with macro factors...................................................9M4 SWOT analysis of HSBC...................................................................................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONIn today's world of industrialised society, term business is considered as a set of activitiessuch as marketing, producing, purchase, sales of products and services. These activities are beingperformed so as to get monetary benefit. On the other hand external and internal conditions inwhich companies are performing its above mentioned activities is known as environment.External as well as internal factors have impact on industry as well as firm's operation and itsrevenue generation (Bryman and Bell, 2015). Here to understand environment prevailing inEngland for business operations we take the example of One of the largest Bank in private sectornamed as HSBC. It was founded back in the year 1865 and right now has 85000 workers underit. To understand the condition of public sector companies Bank of England is taken as examplewhich was founded in 1694 and was nationalised in 1946. This report showcases environmentthat is prevailing in UK and its effect on business operations and decision making process ofdifferent kinds (having different size, scope and type) of organisation. It also gives idea about thestakeholders influence in firm's operation.TASK 1P1 Explain different types of organisation.Covered in PPT.P2 Size and scope of different types of organisation.Covered in PPT.M1 Structure, size and scope effects business objectives.Being in the category of Private banks, it serves general public with the goal of makingmaximum profit. Any Private firm has to design its structure that it can have high speed decisionmaking process. In order to achieve this process lies in the hands of very few officials. Since thecompany do not have to think about welfare of the people as much as public sector companieshas to so its policy making process also become faster (Cai and Yang, 2014). Whereas publicsector companies has more responsibility in the society and hence they involve a larger set ofpeople or government for their policy and decision making process, this slows down the process.Both public and private sector companies are big so they have to make businessobjectives citing that so many stakeholders will be effected in the process. Larger public sector1
firms have larger responsibility in the company as they have crucial role in stabilising theeconomy. Both firms have larger scope of making profits by expanding in new kinds ofbusinesses hence shapes business objectives. The size of the company plays a decisive role in making their objectives as well asachieving it. As the larger size means large amount of resources which ultimately will lead toachieving business objectives carefully.If there is less scope for any company then achieving its objectives becomes moredifficult. Scopes provides the opportunities utilising which the ultimate objective of the companycan be achieved.As illustrated above structure helps in smooth working of the company and hence assistfirm in achieving business objectives in a proper way. The better the orientation of HSBCorganisational structure better the wo5rk performance and hence better achieving of businessobjectives.D1 Complexities of different kinds of business structures and interrelationship withorganisational function.There are various kinds of complexities that are attached with different businessstructures. As per the view point of Chow and et. al, (2011) about private sector firms they needto have simpler design so that decision and policy making processes becomes faster whereaspublic sector firms have to include government hence the system becomes complex and has tosort out many kinds of issues related to public interest. On the other hand Commander andSvejnar, (2011) says that different structures have diverse relationship with each other whentalking about functional units. Human resource, marketing, finance altogether plays an essentialrole in firm's growth. Each functional unit has verified role in any kind of firm. In private firmsflow of information is faster due to its simplicity of structure while public structures aregenerally messy. HSBC has developed its interrelationship in a proper form. As these structuralcomplexities in private banks will lead to slow processes in organisational functions.TASK 2P3 Relation among different organisational functions and their linkage with firm's objectives.In any kind of firm whether public, private or voluntary have different organisationalfunctions namely information and technology department, finance, marketing, sales, human2
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