Report on Business and the Business Environment
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Added on 2020-06-03
Report on Business and the Business Environment
Added on 2020-06-03
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Business and the BusinessEnvironment
ContentsBusiness and the Business Environment..........................................................................................1INTRODUCTION...........................................................................................................................1TASK1.............................................................................................................................................1P1 Different types and purposes of public, private and voluntary sectors..................................1TASK2.............................................................................................................................................3P2 Size and scope of a range of different types of organisations................................................3P3 Relationship between different organisational functions.......................................................4P4 Impact of macro factors on business operations....................................................................6P5 SWOT analysis of Virgin group............................................................................................8P6 Impact of external environment on strength and weakness...................................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONA business environment consists of internal and external factors that affects company'sfunctions which includes employees, customers, management, supply of goods, demand andorganization regulation (Botha, Kourie & Snyman, 2014). Along with this it also connotes macroelements forces and institution that are far beyond from an organization and does not relate to itbut having a dark impact on business, these aspects includes political, legal, technological,competitors. Customers, social, suppliers, etc. Some these factors are having a connection with abusiness and some of them are far apart, in spite of that having a dark impact on businessenvironment functioning. In this module three different types of business organizations includesthat are working in distinct area, namely private, public and voluntary sector. Private sector firmis Virgin Atlanticwhichis established in Crawley, West Sussex, England., whereas NHS(National Health Service) is public funded national healthcare system originated in England andWelcome Trust is a biomedical research charity based in London.TASK1P1 Different types and purposes of public, private and voluntary sectors There are a huge range of businesses, that are serving their utmost services with theirprosperous and optimistic approaches, yet they have distinct vision or mission but the only aimthey follows is to get victory. For this they adopt separate strategic functions and activities, thataid run a business far long away. There are several kind of business organizations with theirdiverse environment, they have different functionalities and operations, these all organizationsare working with certain economy and to find an objective with a higher standard of growth(Savrul, Incekara & Sener, 2014). The main objective is to attain a predetermine target withsuccess. In this study, there are three different criteria to measure a firm's business. Here, threesectors are involved to recognize business environment, such as private, public, voluntary sector.Private sector: Private sector firms refers to established and hold by individual or agroup, that does not have any public or government authorities, these organisations are solelyowned by individual groups to make profit. Although, private sector is spread across, and makesa big benefit to economy, with several entities, such as sole proprietorships, partnerships, smalland mid-sized businesses, large corporation and multinationals, professional and trade1
associations, trade unions. A firm is formed by regulatory body, that means entrepreneur andbusiness have separate identity, a regulatory body is board of members, who takes decisionrelated to the firm. For an instance, Virgin Atlantic is a private organization associated with British Airlinein Crawley, United Kingdom. British airline was established in 1984 by Randolph Fields andAlan Hellary, they were the two partners who conceptualize for a flight between London andFalkland Islands. As this company was started with a mutual partnership, and now it's fifty-onepercent shares are holding by Virgin Group and forty-nine percent by Delta Airlines. The company is also houses corporate offices of Virgin Holidays, Swansea, Wales, alongwith international offices which are located at Norwalk, Johannesburg, Barbados, Shanghai,Hong Kong, Greater Delhi, Lagos and Dubai (Belás,Demjan and Habánik, 2015).Purpose: The paramount purpose of Virgin Atlantic is to avail various classes of travelwith quality of services. Legal structure: Before a company get formed and begin its working, everyorganization needs to register. A number of legal documents must be completed with mostimportant Memorandum of Association and Articles of Association, that covers-Objectives of businessLocation of headquarters and registered officeRaised capital amount from sale of sharesNumber of business meetings with detailsPosition of accounts for audit.Sole trader – In this kind of firm there is one owner of the business firm who takes completeresponsibilities to run a business. They does not hire the more a large number of employees fortheir help. These business can be refers as small retail shops in a local area. The core purpose isto provide the things which has some benefits for the customers. The owner is responsible for theprofit and loss including the risks as well. Partnership – There are more than one or two parties can involve in a contract to form apartnership venture. These organisations can be a private or public limited organisation.The involved parties shares the equal liabilities towards the firm and they all areresponsible for the investments, profit, loss and challenges. 2
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