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Understanding Business and The Business Environment: Assignment

Added on - 01 Dec 2020

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Executive SummaryThe aim of this report is to get a thorough knowledge and understanding based on the chosenbusiness and the functions that are carried out with the wider business environments,. Focus hasbeen laid on the various types of organizations, their sizes and scopes and the way they seek tooperate them. This has helped to explore the wide range of opportunities and relationship amongthe organizations followed by the external environment influence and impact.Page 2 of 12
Table of contentPage 3 of 12
IntroductionBusiness environment relates to both the external and internal factors that influence the business.The report has put focus on the different types, size and scope of organizations followed byinterrelationship of various organizational functions that link to their business structure. Bycarrying out analysis, further focus is paid on the positive and negative influence that impacts themacro environment of a given business.LO1:P1: Explain different types and purposes of organizationPublicPrivateVoluntaryDefinitionThey involve the not-for-profit government ownedorganizations that provideservices solely for socialpurposes.They include the for-profit organizations thatarebothgovernmentowned and by otherprivate bodies includingindividuals and groups.They include those bodiesthatcarryoutsocialactivitiesundertakenespeciallybysomespecified not for profitorganizations which arealso nongovernmental innature.PurposeThepublicsectorenterprisesarethegovernment owned bodiesthat seek to deliver publicgoods and governmental,servicesincludingmilitary,police,publicinfrastructures,publictransits and such for thebetterment of the society.They are an integralpart of the country’seconomic system whichis owned by privateindividuals and groupstherebyrunningoperations for makingprofit. They are also animportantsourceofgrowthanddevelopmentandgeneration of per capitaincome for the countrytherebywideningthecountry’s GDP (Hillary,2017).Beingcomprisedofvariousorganizations,there sole purpose lie inprovidingbenefitsandenriching the society atlarge without any returnfor profit. They furthercreate social wealth andhelp in the improvementof the society.Relation to thechosenorganizationTaking the example ofVirgin money, which isone of the leading UKTaking the example ofTESCOwhichisaBritishmultinationalTaking the example ofCancerResearchUK,light has been shed onPage 4 of 12
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