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Report on Business Environment of M&S company

   

Added on  2020-06-06

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Business and Business Environment
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TABLE OF CONTENTSINTRODUCTION......................................................................................................................1TASK 1......................................................................................................................................1P1 Stating the purpose of public, private and voluntary firm along with the legal structure.1P2 Size and scope of M&S and other business unit...............................................................3P3 Assessing the extent which different functions of organization helps in achievingmission and goals...................................................................................................................3TASK 2......................................................................................................................................4P4 Evaluating positive and negative impact of macro factors on business operations..........4P5 Conducting SWOT analysis to determine strength and weakness....................................6P6 Assessing manner in which strengths and weaknesses are related with macro factors....7CONCUSION............................................................................................................................7REFERENCES...........................................................................................................................9
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INTRODUCTIONBusiness environment implies for the conditions or situations in which firm operatesand perform activities as well as functions. In the present era, quick and high level of changestake place in business environment which in turn has direct impact as well as significantimpact on operations. In this regard, manager of the firm is required to develop strategicframework by analyzing both internal and external factors. The present report is based on thecase scenario of M&S which has 1433 stores all over the world. Such retail firm offers widerange of quality products to the customers at affordable prices including home, food, clothingetc. In this, report will shed light on the level to which motive of different types of businessunit differs from each other. Besides this, it will describe how organizational functions areinterrelated with vision and organizational goals. Along with this, report also highlights thestrengths and weaknesses of M&S. Furthers, it also entails the manner in which macro factorsare linked with the strength and downsides of M&S. TASK 1P1 Stating the purpose of public, private and voluntary firm along with the legal structure Vision, mission as well as objectives may be served as pathway which providesdirection to the firm and helps in developing strategic framework. Thus, each business unitsets some objectives for attaining success in the market over rival firms. However, goals andmotives of business organizations differ according to their nature in terms of public, privateand voluntary. Along with this, legal structure of firm is highly dependent on its nature to agreat extent. Thus, purposes of different types of business unit vary in the following manner:Private firms: M&S is recognized as private firm that issue shares to the stakeholders andlisted on London stock exchange such as FTSE 100. In this, majority or whole of stake isheld by private entities. Thus, it is the main reason due to which M&S is characterized asprivate firm. Vision: This statement of M&S includes ‘To become a standard against whichperformance and position of others are measured.’ This aspect shows that companywants to set its activities as a benchmark that other companies wish to do the same(M&S’s mission statement and what are its core values, 2017). Hence, vision is
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development of competitor’s aspiration in relation to gaining the similar quality thatmaintained by M&S. Mission: In this regard, M&S statement highlights “Plan A” because there is no planB. In other words, it can be said that in the upcoming five years business unit willfocus on attaining 5 commitments such as climate change, waste, sustainable rawmaterials, fair partners and health. M&S wants to create its distinct identity in retailworld by focusing on sustainability aspect. Purpose: Increasing sales revenue and market share in the field of retail is the mainobjectives of M&S. Along with this; another main objective of M&S is todifferentiate its offering from others by making focus on quality and innovation. Legal structure: For ensuring smooth functioning of operations M&S undertakeshierarchical structures. In accordance with such legal structure there are severaldepartments such as finance, marketing, HR etc made. Manager of each department isresponsible to monitor performance of their area and give report to highermanagement team (Prajogo, 2016).Public firms: Postal services holding company Ltd fall into the category of public firmwhose vision, mission and objectives are as follows:Vision: Company wants to build leading position in the postal sector by performingall the activities in a sustainable way. Mission: To offer quality postal and logistics solutions to the customers. Purpose: Objective of Postal services holding company Ltd is to offer innovativebanking products or services to the customers that make value addition in theirmoney. Legal structure: Postal services holding company Ltd follows flat structure. In this,personnel work as per the responsibilities assigned by the government authority.Voluntary firms: It includes firms or individuals who voluntarily make their efforts tooffer benefit to the people of society and animals. Such kind of business unit works withoutany motive pertaining to earning profit. Best Friends Animal society is UK firm which workfor the protection and security of animals.Vision: Company’s vision is to build a better world by showing kindness towards theanimals. Hence, vision of Best Friends Animal society is to place dogs and cats intogood homes that are considered as unadoptable.
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