Business and the Business Environment

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.

BUSINESS AND THE BUSINESS
ENVIRONMENT
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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- Interconnection between structure, scope and size of company with their product,
objectives and services...........................................................................................................4
4- Detailed explanation based on functions of chosen brand.................................................4
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6
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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.
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2- Profile of each of selected companies
Basis Public Private Voluntary
Products and
services
ASDA as public
company provide
quality services and
grocery products to
local people.
John Lewis as private
firm caters home
decor, electrical,
baby, men, women
and furniture products
to customers.
British red cross as
voluntary
organization offer
medical, emergency
support and refuge
support services to
needy people.
Size and scope The size of this firm is
wide because they
have more than
145,000 skilled
applicants and
operated venture
operations in 39
regions.
Organization has
83,900 applicants who
are able to sell their
goods in ethical
manner. They have 42
outlets and more than
335 Waitrose and
partners shops across
the United Kingdom.
They provide their
services across UK
and help individual in
difficult social or
economic situation.
They have 17 million
volunteers.
Vision, mission and
objectives
Vision of company is
to provide better
customer satisfaction,
mission is to increase
profits margin and
objective is to
increase customers
base
Vision is to maximize
productivity and
mission is to gain
competitive
advantages. The
objective of this firm
is to reach at global
level.
Vision of this
organization is to
improve living
standards of local
people and mission is
to make their life
stress free. Objective
is to overcome
negative aspects of
social or economic
factors upon
individual.
Legal structure It has partnership a This firm work with Unincorporated
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form of legal
structure.
private limited
company as legal
structure.
association a trust.
Stakeholder
information
Government and
customers are
included in list of
company
stakeholders.
Board of members,
managers and leaders.
Local people and
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
ASDA successfully and efficiently obtained competitive advantages within retail
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-
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Marketing team work closely with information technology group as they can help to
update all systems and computer programmes on time.
Figure 1 Interrrelation 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.
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REFERENCES
Book and Journals
Mariño, J.L.O., Hinderer, H. and Bravo, E., 2017. Relationship between the business
environment and business strategy types: Evidence in 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: Business Functions. 2019. [Online]. Available Through: <
http://textbook.stpauls.br/Business_Organization/page_11.htm>
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