This assignment explores the impact of the business environment on companies and their functions. It provides an overview of different types of companies and their profiles. It also explains the interconnection between the structure, scope, and size of companies with their products and objectives.
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
BUSINESS AND THE BUSINESS ENVIRONMENT 1
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Table of Contents INTRODUCTION...........................................................................................................................2 TASK...............................................................................................................................................2 1- Overview of varied types of companies and progress of international venture environment ................................................................................................................................................2 2- Profile of each of selected companies................................................................................3 3-Interconnectionbetweenstructure,scopeandsizeofcompanywiththeirproduct, objectives and services...........................................................................................................4 4- Detailed explanation based on functions of chosen brand.................................................4 CONCLUSION................................................................................................................................5 REFERENCES................................................................................................................................6 2
INTRODUCTION Business environment can be described as set of internal and external factors that can have influence on performance and productivity level of companies. It comprise of different elements or forces that impact varied functions of a company. The current assignment will be based on three different forms of firms; it will explain its size and differences between of all them. Furthermore, this study will explain link of service, products, vision, objectives with size, scope of companies. It will also justify interrelation between all business units and their connection with objective of organization. This report will clarify impact of interconnection between functions on organizational structure. TASK 1- Overview of varied types of companies and progress of international venture environment Public companies- These firms permit their workers to appropriately transfer and share their shares to others. A public organization like ASDA is a venture whose ownership is distributed amongst common public stakeholders through free trade of market shares on exchanges (Mariño, Hinderer and Bravo, 2017). Customer’s satisfaction is the main purpose of public organizations, they work accordingly. Private organizations- Those companies who have restricted free transfer capability of shares are known as private firms. John Lewis is a private company because it has operated their venture and managed business functions successfully under private sector. Firms play significant role in progress of global business environment by increasing profitability and competition level even better. The motive of these firms is to increase profit margins and sales. Voluntary firms- A voluntary company is able to provide excellent and quality services to people who needs help to enhance their living standards even better. British Red Cross is a form of venture whose main purpose is to develop social influence more than making money (Zhang, Lu and Liu, 2018). All these business forms contribute in great progress of international environment of corporate by performing accordant to set goals. 3
2- Profile of each of selected companies BasisPublicPrivateVoluntary Products and services ASDAaspublic companyprovide qualityservicesand groceryproductsto local people. John Lewis as private firmcatershome decor,electrical, baby,men,women and furniture products to customers. Britishredcrossas voluntary organizationoffer medical,emergency supportandrefuge supportservicesto needy people. Size and scopeThe size of this firm is widebecausethey havemorethan 145,000skilled applicantsand operatedventure operationsin39 regions. Organizationhas 83,900 applicants who are able to sell their goodsinethical manner. They have 42 outlets and more than 335Waitroseand partners shops across the United Kingdom. Theyprovidetheir servicesacrossUK and help individual in difficultsocialor economicsituation. They have 17 million volunteers. Vision, mission and objectives Vision of company is toprovidebetter customersatisfaction, mission is to increase profitsmarginand objectiveisto increasecustomers base Vision is to maximize productivityand missionistogain competitive advantages.The objective of this firm is to reach at global level. Visionofthis organizationisto improveliving standardsoflocal people and mission is tomaketheirlife stress free. Objective istoovercome negativeaspectsof socialoreconomic factorsupon individual. Legal structureIthaspartnershipaThis firm work withUnincorporated 4
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
formoflegal structure. privatelimited companyaslegal structure. association a trust. Stakeholder information Governmentand customersare includedinlistof company stakeholders. Boardofmembers, managers and leaders. Localpeopleand charitable trust. 3- Interconnection between structure, scope and size of company with their product, objectives and services All the elements like goods, scope, size and a objective as well as goal are interrelated with each other because they all are making firms able to operated their ventures successfully within specific sector. For example, management work under organizations structure, and develop plan to achieve set objectives through guiding skilled applicants and making a team who can perform even better. Manager and leaders with talented employees operated their existing functions and operations in effective manner, which in return increase ability of companies to reach at international level where they can increase sales and market share rather than last few months or years. 4- Detailed explanation based on functions of chosen brand ASDAsuccessfullyandefficientlyobtainedcompetitiveadvantageswithinretail industry. Within firm, there are different functions work and perform together in order to achieve its objectives and goals (Mohsen and Eng, 2016). Marketing with Human resource- These two functions collaborate together because they want to gain aims of ASDA. For instance, HR manager communicate with marketing and then identify need relate to workers. Marketing with Finance- Marketing work with finance because accounts department is the only function who can provide money to other units for making effective plans and strategies. Marketing with IT- 5
Marketing team work closely with information technology group as they can help to update all systems and computer programmes on time. Figure1Interrrelation between Organizational functions (Source:Procedures: Business Functions,2019) Collaborative practices of all above functions are related to objectives of ASDA because they all drives and move staff workers working productively and appropriately that impact structure of firm in positive manner by increasing productivity level as well as performance. CONCLUSION From above analysis, it has been concluded that public, private and voluntary companies operated their management functions in effective manner, by using range of approaches and work after considering goals and business objectives. It has been indentified that by working together, marketing, human resource, finance and IT departments achieved goals of ASDA Cross and provide useful services and quality items to local people who needs these and wants to purchase. Collaborative practices between all functions put positive impact on structure of its business as it helped to increase performance level of applicants and strengthen them to work successfully, which is quite beneficial for overall venture. 6
REFERENCES Book and Journals Mariño,J.L.O.,Hinderer,H.andBravo,E.,2017.Relationshipbetweenthebusiness environmentand businessstrategy types: Evidencein Peruvian companies.Revista Universidad y Empresa.19(32). pp.61-86. Mohsen, K. and Eng, T.Y., 2016. The antecedents of cross-functional coordination and their implications for marketing adaptiveness.Journal of Business Research.69(12). pp.5946- 5955. Zhang, J., Lu, G. and Liu, B., 2018. Do voluntary positive earnings forecasts of Chinese listed companies benefit publicly or privately?.Nankai Business Review International. Online Procedures:BusinessFunctions.2019.[Online].AvailableThrough:< http://textbook.stpauls.br/Business_Organization/page_11.htm> 7