Business and Business Environment of NatWest : Report
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Added on 2020-07-23
Business and Business Environment of NatWest : Report
Added on 2020-07-23
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BUSINESS AND BUSINESS ENVIRONMENT
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Different types and purposes of organisation....................................................................1P2 Size and scope of different types of organisation.............................................................3M1 Structure, size and scope effect on business objectives...................................................4D1 Complexities of different type of business structures and inter relationship withorganisational function...........................................................................................................4TASK 2............................................................................................................................................4P3 Relationship between different organisational functions and their linkage to organisationalobjectives................................................................................................................................4M2 Advantages and disadvantages of organisational units interrelationship........................6TASK 3............................................................................................................................................7P4 Positive and negative impact of macro environment upon business operations...............7M3 PESTLE model to support analysis of impact of macro factors....................................11D2 Critical evaluation of impact of micro and macro factors on business operations.........12TASK 4..........................................................................................................................................12P5 Internal and external analysis to understand strength and weakness..............................12P6 Interrelation of strength and weakness with external environment.................................13M4 SWOT analysis and its influence on decision making...................................................14CONCLUSION..............................................................................................................................16REFERENCES..............................................................................................................................17
INTRODUCTIONIn the economic context activities like extraction, marketing, purchase, production, salesand advertisement comes under business. These all activities are a part of business proceduresfollowed in every company. Business is performed so as to gain monetary benefits from productsthat a company produces. Where as business environment is considered as the surrounding inwhich a organisation is operating (Aterido, Hallward-Driemeier and Pagés, 2011). There arecertain conditions internal and external which effect the business procedures. Management,machinery, money, human resource and availability of raw materials shapes the internal businessenvironment where as political, legal, technological, social, economical and ecological factorsdefines the external business environment. National Westminster Bank is commonly known asNatWest. It is one of the largest retail and commercial Bank in the UK established in the year1968 by the merger of National provisional Bank and Westminster Bank. Till 2000 this bank wasa part of Royal Bank of Scotland Group. It has approx 960 branches serving around 8 millionpeoples. It has approx 33,300 employees. This report highlights the different type, scope and sizeof organisation. It also showcases relationship between different organisational functions. It alsoshows the positive and negative impact of macro environment on business operations whichultimately results in strengths and weakness of the organisation.TASK 1P1 Different types and purposes of organisationThere are three kinds of organisations public, private and voluntary. All theseorganisation are categorised according to purposes and operations for which they operate theirbusiness. Public sectors companies are generally government owned. They have a motive ofworking for the welfare of the public. They generally share there profits with the public. Theirpurpose includes providing public services to the people as well as increasing their benefit.Private company is owned by an individual or group of people. Various forms of private serviceorganisation are franchises, partnership, sole trader, companies etc. Their main aim is to increasethere profit (Belás and et. al., 2015). Voluntary organisations are those which are not operatingfor gaining profit but are generally working for the welfare of people, community, culture,animal etc. These organisations most of the time are not owned by any specific person but agroup of people is generally responsible for its decision making.1
There are mainly three kinds of industry under which these organisations operate. First isthe primary sector that includes industries that uses resource for the production of its goods likeforestry, fishing, farming and mining. Secondary sector organisations are those who uses theproducts that are produced by primary sector firms. They takes raw materials from primarysector organisation and convert them into finished goods. Tertiary sector organisations are thosewho provides services for the business or consumer like catering, call centres, hotels etc. Theseorganisations uses the product of both primary and secondary sector industries and use them asraw materials to provide services to the customers (Blanchard, Tolbert and Mencken, 2011). Allthe three types (public, private and voluntary) of organisation comes under these three sectors. Legal structure of public sector company: These companies are accountable to local or central government. They are obliged in lawto have annual general meeting of shareholders. Companies act sets the responsibility and powerof directors. They have legal obligations like producing annual report and accounts statement.There are larger paperwork that needs to be done while setting up public-sector company. PLC isused after its name.Legal structure of private company:They do not sell their shares to wider public. Shares can only be traded by the permissionof Board of Directors. A private firm will have Ltd. after its name. NatWest is one the biggest bank in United kingdom that works in the area of retail andcommerce banking. It was established in the year 1968 by combining National provisional Bankand Westminster Bank. After 2000 it is a part of Royal Bank of Scotland Group. It is a directsubsidiary of NatWest Holdings. It is having Approx 33,300 employees that works in around 960branches of this bank. It has approx 3,400 cash machine in all around Great Britain. It serves toaround 850,000 small business accounts and approx 7.5 million personal customers. In Ireland itoperates through Ulsters Bank subsidiary. It has online banking option and has won award forhaving the best bank app in Britain. It has provided one of the best services to the people ofEngland as it has started the service of mobile branch for the rural areas where there are nopermanent branch of the company. Size of this organisation is very big. It funds all its operationsand has a vary wide scope of growth in the rural as well as semi urban areas (Boons and Lüdeke-Freund, 2013). This bank can reach out of the England and can work in the market of otherEuropean union countries in the personal banking. It also has scope in the developing markets2
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