Business and the Business Environment : Report

Added on - 21 Jul 2020

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Business and the Business Environment1
Introduction:....................................................................................................................................3LO1:.................................................................................................................................................3P1. Different Type and Purposes of Organizations:........................................................................3LO2:.................................................................................................................................................7P3: The relationship between different organisational functions and how they link to corporateobjectives and structure:..................................................................................................................7LO3:.................................................................................................................................................9P3: The positive and negative impacts the macro environment has on business operations,supported by specific examples:......................................................................................................9LO4:...............................................................................................................................................11P5: Conduct internal and external analysis of specific organisations to identify strengths andweaknesses:....................................................................................................................................11P6: Strengths and Weaknesses interrelate with external macro factors:.......................................12Conclusion:....................................................................................................................................13References:....................................................................................................................................142
Introduction:Initially when a business starts and slowly it operates the market then different type ofpromptness begins to affect the business and create trouble to achieve the expected outcomes.During the starts, a new operation, macro and micro environmental factors affect the industry.Therefore a unique plan is needed to generate that reduce the negative impact on the process. Tomake this happen, a company should try to identify its weakness, strengths, opportunities, threatsby other companies and according to them it should develop a strategy. This project is intendedto highlight different aspects of the business environment.3
LO1:P1. Different Type and Purposes of Organizations:In today’s world, many big corporations and various organizations formed to offer a better lifechoice to the human being and improve our society technically. In the world of business there aresome common types of organization working for the industrial market which are given below:StartupSole traderCompaniesPartnershipCharity OrganizationFranchise4StartupPartnershipSole traderCharityOrganizationCompaniesFranchise
Different Type and Purposes of Organizations(Source: Ward, 2014)Start-Up:The term startup is not a business or a manufacturing company for a particularproduct; it is a newly grown-up business strategy for an entrepreneurial venture. Its aims to finda recently develop marketplace for people facing an issue in their life. Although it is very riskyproject because this business deals with new market problems and the success rate of this type ofproject is very less. However once the business got success the profit amount will go to a verylarge amount. This business needs innovative skills that can use their skills to find a solution ofthe modern newly developing issue. The co-founders of this business are mostly collegestudents, engineers, hackers, web developers etc. However that doesn't mean that only thisprofession have a future in this field, whoever has innovative thinking and problems solvingskills with adifferent approach can create a carrier in this field. Meanwhile, it has a negativepoint, every business needs an investment, in other business as their success rate is quite ascompared to the start-up business, the investor is easily shown their keen interest to investanother type of business rather than stat up marketing as the risk factor is more significant. Theinitial funding is an enormous problem, and that is the main reason to drop the business idea bymany of students. However the country like U.S.A, U.K, China, Russia, and many othereconomically country have an excellent market for the start-up business, many investors areeasily approachable and can invest their money for a perfect business plan. In India the marketyet developing and take several years to come up.Sole Trader:One of the most native cultures of the business is the sole trader, and it involves ina wild range of activates, which includes mobile filters, mechanical work, electrical work5
plumbing and many more, throughout the world. A significant portion of a sole trader is using inconstruction marketing business and also use in finance and catering business. No complicatedpaperwork and document it requires to establish a single trader business, and every conclusioncan be made in no time. However for Business-related problems a close confidential contract canbe made between the customer and employees. A good advantage to this business is that allprofit goes to the sole trader that makes help to build a strong foundation and expand ownbusiness in the market. However, every business management system has a positive and negativeportion and in this business too. All the essential decision makes on own and may have to trywork hard and a longer time. The company requires management skills and bargaining powerand also strong communication skills with customer. Being a sole trader, make once a greatresponsible person that helps to survive to deal with the modern market and all the investmenthave to provide the own businessman. As a sole trader, the business makes once a jack of alltraders. In other countries including India, the sole trader is a successful business and makes theprofit to the businessman. However, the necessary fund could not often be provided many times,and the problem is yet to be solved.The Partnership:the partnership business can be done between two to five people butnowadays in online trading market policymakers are up to thirty people, due to the PartnershipAct 2002, which means at a time some multiple people can access and control the business. Italso has many advantages and as well as some disadvantage too. People in partnership can sharetheir idea, business strategy and divide the workload among them. This helps to raise the capitalneeded for the business. For example, a group of people create a contain writer group, somehowone of them get injured or have some illness, then the particular person's workload can bedivided by other writers. Partnership business contains a multiple calculate issue, like the total6
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