Business and the Business Environment Assignment (Solved)
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Added on 2020-10-05
Business and the Business Environment Assignment (Solved)
Added on 2020-10-05
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Business and the BusinessEnvironment
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3LO 1. Different types, size and scope of organisations...............................................................3TASK 2 ...........................................................................................................................................5LO 2 Interrelationship of functions with different organisational structure and connection......6TASK 3............................................................................................................................................8LO 3 PESTEL analysis of Marks & Spencer company. ............................................................8TASK 4..........................................................................................................................................10LO 4 Strength and Weaknesses and influence of macro and micro factors on business..........10CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................15
INTRODUCTIONAn organisation has many objectives and faces many global changes and its businessenvironment is affected by its internal and external factors. All internal and external factors areincluded like employees, management, demand and supply and business regulations. It keepschanging and is dynamic in nature. New frontiers are initiated due to interaction withenvironment which leads to development in business organisations. In this report, different types,size and structure of organisations are being discussed (De Vries and Van der Poll, 2016). Anorganisation is run by various actions like structure, coordination, logistics department, selectionand planning. It also includes factors like suppliers, clients, its competition power, technologicalimprovement, government activities and laws and economic and market trends. All workersshould work systematically in a good business environment in order to increase its productivity.TASK 1LO 1. Different types, size and scope of organisationsThere are different types of organisations namely public, private, voluntary, sole tradersand partnership organisations.Private Sector: Private sector is organized by individuals and is an important part of economy.They are usually free from government bodies and generate as well as return a profit back totheir owners. They are huge in the UK and government imposes some regulations which theyhave to follow strictly. This sector belongs to primary sector. River Island is a private sectorcompany trading in UK (Iyamu and Mphahlele, 2014). According to statistics, number ofemployees in this sector are more than 10,000. It aims at bringing new fashion to the world andis evolving with number of international franchise stores in Europe, Middle East withexperienced fashion retail organisations. It follows corporate social responsibility and has itsown legal structure. It has its own tax strategy and policies which are overseen and owned byBoard of Directors. Risk would surely arise due to scale of River Island's volume and business oftax obligations from time to time. Its tax function is managed by qualified and talentedindividuals who seek to manage, evaluate and identify these risks (Kolios, Read and Ioannou,2016). Main advantages of private sector include less bureaucracy and more promotion ofemployees because company expands and its disadvantages are that there is no job security andatmosphere is very competitive.
Public sector: Public sector is combined of both public enterprises and services. These includepolice, public transit, health care and those working with government itself. In public sector,taxation is funded through direct administration and the firm has no particular needs to meetcommercial success as well as production decisions are ascertained by government itself. Theyare organized through three levels i.e. National, Federal or Regional and Local. Whereas, partialoutsourcing can be reasoned as public sector model. Marks & Spencer is a British multinationalretailer public sector (Khan, Alam and Alam, 2015). It has around 84,939 employees workingcurrently. It has segmented market according to geographic, psychographic and behaviouralfactors. It has almost 337 stores in international territories. This has been done becausecustomers of various ethnic groups, social class and age groups can purchase products. Its mainobjective is to provide quality wise products so that customers would remain satisfied and it hasplanned to aim in UK market from 2013 to 2015. It has been listed in stock exchange of UK andtherefore, issued a new certificate of incorporation and also a Certificate of Trading that permitsit to do trade and sell shares on the Stock Exchange. Advantages of public organisations are thatthey ensure efficient control of industry and foreign nominations of the economy are avoided.Disadvantages of it are political pressure and lack of competition.Voluntary Sector: Voluntary sector takes care of communal activities undertaken byorganizations and are non-profit firms. It can be considered as third sector and social and civilsector are some other terms of it. They help in operating various health care institutions and itspurpose is to provide benefit to community and improve society without having motive to obtainprofit. It doesn't have any kind of government intervention as these organisations are workingfor the welfare of society (Ho, 2014). Thus, money earned by these firms are invested back in thesociety. It comes in the tertiary sector. Oxfam is a better example of Voluntary sector whichprovides clean water and sanitation facilities as well as having office in Africa, Middle East,Asia and Eastern Europe. It works in almost 90 countries as a part of Oxfam Internationalconfederation which handles root cause of poverty and respond immediately to emergencies. Itslegal structure is managed by divisional directors and details are organised by present membersof the Board of Trustees. It has its formal agreements with other organisations. It mainly worksin Angola, Armenia and Afghanistan. Its employee engagement is around 5,000 and almost23,000 volunteers provide services in various parts of the world. Main benefits of Voluntary
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