Report on Business Environment - Mark and Spencer
Added on 2020-06-04
13 Pages3965 Words47 Views
Business and BusinessEnvironment
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 and P2................................................................................................................................1Covered in PPT.......................................................................................................................1TASK 2............................................................................................................................................1P3 Relationship in between different organisation functions. ...............................................1TASK 3............................................................................................................................................4P4 Impact of macro external environment of business activity.............................................4P5 SWOT analysis of Mark and Spencer ..............................................................................7P6 Interrelation between strength and weakness with micro factors.....................................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
INTRODUCTION Business is an entity which is mainly involved in the provision of products and servicesto the costumers, they serve as a director of the economic activities, the business is mostlyprivately owned or it can be owned publicly, the goods and services which are produced ormade through them is then allotted to the market so that people can buy it and use it. Businessenvironment is the surrounding in which the organisation use to function their activities, thebusiness should its environment and should study about it properly so that they can be able tomaintain (Aterido, Hallward-Driemeier and Pagés, 2011). There are various people which worksin organisation and it is even there responsibility to look after the environment of firm and theyhave to maintain it properly. Business have two types of environment which internal andexternal, and both of that has to be taken care and has to study about it. Mark and Spenser is amultinational retailer store which provides various products under the roof, it is in UK, the belowreport will be based on this company and in this assessment different types of business is beingdefined and there size and scope. It also contain the functions of various departments inorganisation and the impacts of macro environment of the firm and its SWOT analysis is beingdefined which will help the reader to know about all the things which is included in businessenvironment. TASK 1P1 and P2Covered in PPTTASK 2P3 Relationship in between different organisation functions. Mark and Spencer is a retailer company which is having various products so that peoplecan purchase all the required material from one place, they are providing better quality andaffordable price products to the public (Avramenko, 2012). To serve better to the public and runthere business in smooth way they have to focus on there various departments which is overthere. In an organisation there is different departments such as: financial, IT, HR,R&D andMarketing department. All these department plays most important role in firm, so all have to befocus on all the different types of department, departments in M&S:1
Financial department- In this department all the work which is related to finance ismaintained. They keep all the financial records which is done or which is going to happen in thefirm. All the money which a firm is having is been record by the finance department and theyhave to take care of it and it is there duty to provide required money to the other department andrecord them properly. Any of the work which is done by money has to contact to the financedepartment to settle it (Commander and Svejnar, 2011). For doing marketing and to manage allthe work related to the day to day activities needs money and all that finance is paid by thisdepartment and they know how and when the money is required for what all task. This unit isinterconnected with all division which are in M & S because they have to provide sufficient fundto them; therefore, they will accomplish their work in an effective and efficient way. It isfundamental duty of each this department to provide proper fund to other division so that theywill be able to accomplish their work effectually. It enables them to attain coveted targets andobjectives within certain period of time. If an enterprise is having an effective brand image thenthey will easily obtain finance from banks or other institutions for them so that they will run theirbusiness in a proficient manner. Human resources department- human resource is a department which manages all thework related to the human working in the firm and they use to make avail the required and safeenvironment to the employees so that they can manage to do their given work/ task properly andeffectively. They take care of all the things which is related to the employees and they providesalary to them and their main duty is to recruit new people as soon as any post is vacant. It istheir responsibility to select employees. This department is interlinked with operational divisionas if people are much capable then they will complete their task with maximum effectiveness. Asa result, profits and market share of enterprise will get enhanced.It is fundamental duty of anenterprise to appoint skilled and talented individuals; therefore, entire work will get completedwithin limited period of time. In this aspect, management need to tie up their working with withother divisions like marketing where they become able to determine what kind of position isvacant in an organisation. This support and assist them to hire and determine such individualwhom have potential to do marketing job of any kind. This will assist them in accomplish targetslike sales enhancement which direct reflect on profit margin of a company. Marketing department- This department helps the company in promoting their firm atvarious places and make people more aware about them. There main work is to make aware2
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