BUSINESS AND BUSINESS ENVIRONMENT INTROUCTION 3 MAIN BODY
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Added on 2021-02-19
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BUSINESS AND BUSINESS ENVIRONMENT INTRODUCTION 3 MAIN BODY3 L O 1 3 P1) Types and objectives of organizations.3 P2) Size and importance of organizations. 6 L O 3 9 P4) Impact of macro environment on business operations. Business environment can be defined as a combination of internal and external factors which are consists of employees, clients, suppliers, trends etc and affect the company directly or indirectly.
BUSINESS AND BUSINESS ENVIRONMENT INTROUCTION 3 MAIN BODY
Added on 2021-02-19
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BUSINESS AND BUSINESS ENVIRONMENT
Table of ContentsINTRODUCTION...........................................................................................................................3MAIN BODY...................................................................................................................................3L O 1................................................................................................................................................3P1) Types and objectives of organizations.............................................................................3P2) Size and importance of organizations..............................................................................5L O 2................................................................................................................................................6P3) Relationship between organizational functions...............................................................6L O 3................................................................................................................................................9P4) Impact of macro environment on business operations.....................................................9L O 4..............................................................................................................................................11P5) Internal and external analysis of the organization.........................................................11P6) Interrelationship between strengths, weaknesses and macro environment factors........13CONCLUSION..............................................................................................................................15REFERENCES..............................................................................................................................16
INTRODUCTIONEvery business works in an environment which is full of uncertainties and which directlyimpacts on profitability and productivity of the company. Business environment can be definedas a combination of internal and external factors which are consists of employees, clients,suppliers, trends etc and affect the company directly or indirectly. This environment helps thebusiness in identifying opportunities and utilizing and capturing essential resources which canassist it in planning, and can improve overall growth of the business. It can help the businesses inachieving profitability of the company. This report will take three different kinds of organizationfor better understanding of the topic and to see how different organization work in sameenvironment. The report will take Asda, British business bank and Cancer research UK. The report will showdifferent types and purposes of organizations. However, it will include size and scope ofdifferent kinds of organization. It will show different organizational functions and their relationwith achieving objectives for the company. Moreover, the report will lay emphasis on positiveand negative impact that the macro environment can create on business operations. It showsinternal and external analysis of Asda in order to find out its strength and weaknesses. At last, itwill focus on strength and weakness which will interrelate with external factors. MAIN BODYL O 1P1) Types and objectives of organizations.There are different types of organisation that vary from each other in the context ofmanagement, number of employees, capital introduced, revenue generated etc. These can beprivate, public or voluntary organization.Private organization – These organizations are owned by individuals and are also knownas for profit organization. Their main objective is to earn profit and maximize it over the years.These organizations benefit the owners, investors and shareholders (Hamilton, 2018). Theemployees in private organization are less secured than that of public companies. In this type oforganization, there is no government intervention unless and until the company is involved inmisconduct or fraudulent activities.Public organization – These organizations are owned by government and provides goodsand services to customers for commercial purpose. They provide goods and services in
comparatively low prices than that of private sector. They are operated with the money that israised by the government from taxes. The organization of public sector do not run for the profitmotive but for the purpose of providing services to the citizens and for the welfare of the society.(Deasy, and et.al. 2016). Each country has different method of funding for public services. Thepublic sector includes education, fire services, electricity, healthcare, etc. Voluntary organization –These type of organizations are created to provide benefit to thesociety. The purpose is to enrich the society with no or little government intervention. Themotive of such organization is not profit motive (Gerrish, 2016). The money raised or earned byan organisation is usually invested back in the organization for the welfare of the society. It isdifferent from public organizations yet some voluntary organizations are tightened withgovernment on all levels to support the programs delivery and services. It includes charitablefunds, foundations, community groups social welfare organizations etc.The different examples of these organizations and their purpose and objectives are :Asda – Asda is a privately owned company which is a British supermarket retailer whichdeals in general merchandise, grocery and financial services. It is a subsidiary of Walmart. Thepurpose of Asda is to earn profit by giving tough competition to its biggest competitors that isTesco. It was founded in 1949 by peter and Fred Asquith (Quinlan, and et.al., 2019). The mainobjective of the company is to increase its market share and to expand its operations all over theworld so that it can increase ts sales and profit. It has around 165,000 employees but as theemployment in private organizations is not that secure, Asda also had to shut down few storeswhich took away the jobs of people. The revenue generation of Asda is£21,666 million and havesubsidiaries like Asda mobile and Asda money.British Business Bank- It is a public limited organisation which was established in 2014.it's headquarter is situated in Sheffield, UK. The purpose of the BBB is to increase the credit tosmall and medium enterprises along with providing advisory services. It is owned by departmentof business, energy and industrial strategy. It works under financial services investments(Gorman, 2019). Thus bank do not lend the loans to SMEs directly but instead work with otherfinancial institutions to increase their accessibility to funding. Its main objective to uplift theSME sector of the society. The active employees working for BBC is more than 300 employeeswho look at various functions like finance and central function, HR, legal functions etc.
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