Business Simulation for Enhanced Employability

This assignment, derived from various sources on business simulations, aims to explore the practical application of these tools in enhancing students' employability. Students are expected to analyze case studies, such as 'Enhancing students' employability through business simulation' by Avramenko (2012), and propose strategies for implementing similar initiatives in other educational contexts.

BUSINESS AND THE
BUSINESS
ENVIRONMENT

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Different types of firms and their structures....................................................................1
P2. Size and structure of public, private and voluntary sector...............................................3
TASK 2............................................................................................................................................4
P3. Organisational function and their interrelationship..........................................................4
TASK 3............................................................................................................................................6
Covered in PPT.......................................................................................................................6
TASK 4............................................................................................................................................6
Covered in PPT.......................................................................................................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Business environment is considered as a sector which works by combination of people
and organisation structure together. They cannot operate in vacuum or by a single individual.
There can be operational activities which goes on by mix environment which is created by
various people working in there (Agarwal, Grassl and Pahl, 2012). This field is basically a
collection of internal as well as external factors that could be actually affecting the operations of
the business. This is also responsible for controlling and handling the action and planning of the
company and their various aspects which are involving employees, workers leaders and so on.
This business environment is also answerable for fulfilling the demands and supple of the
company as per the requirement. This report has description of various types of organisation
which includes a private sector that is explained through taking HSBC and for the voluntary
sector there is explanation of Oxfam and for public sector we have taken NatWest. For both
private and public-sector company which has been taken for description is of bank sector. Main
purpose of this report is to explain various types of organisation for analysing their functioning
and finding out the difference between them. Also, their structure and marketing strategies is
explained to understand them well. In this report, there is also an analysis of various macro and
micro impacts that has been affecting the firm in various aspects is explained in this report.
TASK 1
P1. Different types of firms and their structures.
Business environment is basically that factor which would contain many aspects and
factors which would be performing for the organisation so that it works efficiently. In this report
there are these types of organisation which are private, public and voluntary. There can be
various outlines and structures which distinguish them from each other (Aterido, Hallward-
Driemeier and Pagés, 2011). There proper description and bifurcation would help in
understanding them properly and well. There properties are described below.
Private sector: This field consist of those firm which is actually run by individual person
or even by groups but they are not answerable to any authority or any person. The company used
in this report for explaining the private sector is HSBC. This is a British multinational banking
and financial sector which has its origin in Hong Kong. They usually share some kind of systems
which would be traded in stock market and then any one from outside if is interested in buying
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them can have some permission of doing the needful (Auzair, 2011). The profit can be shared
among those individuals which have invested in the time of building of the project. Only except
of those people no one else is given such shares. There can be so many private firms which are
available in the country so it provides so many facilities and benefits so that the area becomes
developed and flourishing in various sectors. Thus, this sector gives lot of advantages in terms of
modernising the society levels. They are basically responsible for providing great efforts for
improving the overall economy of UK. There can be great importance and need for such a firm
as it will help in increasing the capacity of production and also make employees to be more
interested in working for this company and lastly there would be large amount of capital which is
actually involved with this feature (Hamilton and Webster, 2015).
Public: This field consist of those business companies which are managed and controlled
by government of the country. Public sector in this report is described through NatWest
company, which has a full name like National Westminster Bank who is a large retail
commercial bank in UK. They have majorly functions of delivering every kind of sectors as
possible to provide with some basic and required amenities and facilities which are essential for
their improvement of the society as well as the nation. These consist of government bodies which
achieve their revenue or economy by taxation which is given by the people for availing the
government facilities. They have to pay these taxes compulsory as failing to same can affect the
working of government bodies and other related organisations (Ullah and Lai, 2011).
Since this sector do not have any private source of income or support from any multi-
millionaire that is why whatever comes from the taxes of the public is what is utilized for making
more and more facilities for them. Thus, there should be great support of the people of the
country to help administration for making some provisions for nation benefit (Avramenko,
2012). By all these methods there is various possible benefits and facilities are made for the
citizen of this country and along with this there can be monitoring of functioning of different
types of sections under this public sector.
Voluntary sector: This field is basically a non-profit organisation which is not formed
for the concern of making money or profit in the real world scenario but usually they would help
in extending support and fulfilling the needs of the people of the country. Company used in this
report for voluntary sector is Oxfam which is a firm that is mainly responsible for providing
meals, shelter and any kind of support to poor people and to one in need (Teece, 2010). Their
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main aim is to reduce poverty and achieve a developed society where no one should die out of
hunger or lack of shelter. They are majorly made formed for helping and supporting the society
from the harsh situation which would come in their way (Burns and Winter, 2011). This firm can
be owned by either individual person or by group of people. They all together sit down to enlist
all the factors which might be affecting the city or country adversely and then making plans or
strategies to work in progress of it (Business Structure. 2017). All these factors which would be
achieved by them are done without any return favours that means they are self-less workers
which are not working in demand of any return or outcome. They would just want a happy and a
healthy society.
P2. Size and structure of public, private and voluntary sector.
Public: National Westminster Bank which is usually known as NatWest is basically a
large retailing and commercial banking entity in UK that was established in 1968. But after that
it has been part of Royal Bank of Scotland Group. According to real scenario traditionally this is
considered as one of the Big Four clearing banks where there is a large network of over 1600
approximately branches and around 3400 cash machines across Great Britain.
This company is also providing some offers of 24-hour Action-line telephone and also
online banking services. Currently it has more than 7.5 million personal clients and 8500000
approx. of small business accounts (Chow and et. al., 2011). In Ireland, it operates through Ulster
Bank subsidiary. This company is providing full range of banking and also insurance services
which would be useful for personal, business and commercial customers which can include some
dedicated bank account in UK which would be delivering an entire support to Polish language
(Siewiorek and et. al., 2012).
Private: HSBC Holding is a PLC which is a British multinational bank that has great
financial services which would be holding the firm to trace to its origin which is in Hong Kong.
This is world's seventh largest bank today and usually hold assets of US$ 2.374 trillion
approximately. HSBC has about 4000 offices in various countries which makes it world's sixth
largest public company according to a composite measure by Forbes magazine.
HSBC is basically organised within four business group that includes commercial
banking, global banking and markets. This firm has total market capitalization of $102.7 billion
and becoming the second largest company, which is listed on London Stock Exchange.
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HSBC is providing some kind of financial services from small to medium-sized
enterprise. These groups which would have more than approx. 2 million of such customers that
can be including sole proprietors, partnerships and even clubs with associations which would
having incorporated business where it has some publicly quoted firms.
Voluntary: There are requirement of funds which needs to be raised with various
sources. This may include so many shops that would be containing of 51 stores throughout the
sells of shops which are containing of around 51 stores throughout the selling of goods and their
donation by public sector (Commander and Svejnar, 2011). Administration is allocated over $3
million people in Oxfam to work. There would be private donors which would be having their
corporate and institutional funding for supporters which would have donation of regularity
through the direct debit for special appeals (Wetherly and Otter, 2014).
TASK 2
P3. Organisational function and their interrelationship.
In this report, there is analysis of NatWest company which is used for performing various
functions and operations that need to be functioning properly so that company gains some status
and position in the society. This company has around 44000 offices all around in the world and
in worldwide scenario they seem to be world's leading and most respected international bank
(Cronan and et. al., 2011). This firm is actually providing an intensive range of financial services
that include various sectors like commercial, investment and market personal financial services
and it also contains other financial products and services. They basically provide importance to
values and principles in every aspect of life. Various organisational functions within this firm is
described below.
Marketing This is an important function of the organisation which would define all
the relationship which is drawn between customers and the products of
this firm. This department is basically responsible of organising and
managing the status and position of the company in the market place.
Their major aim is to find the target audience and then work
progressively to achieve their minds so that they get attracted to the
offers. Their work is mainly concerning on selling, advertising,
promotion and customer interaction with collection of feedback (Dahan
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and et.al., 2010). Through all of this NatWest can increase in their sales
and get some profit with large intensity. Also, this sector has to ensure
that people of every age group should be covered in their marketing plan
else it would fail in the real terms.
Finance This is most important and essential feature for this business to function
properly. Since economic condition are useful in improving every type of
sections within the company. This sector is responsible for making
reports which would be formed according to statistics that can contain
accounts and financial factor for the firm to be officially taking some
decisions regarding this field. This firm is facing some kind of
competition as due to large number of options in the market.
Human resources For actually achieving of aims and objectives for this firm there is large
amount of need of human labour to be used in the company to make it
work efficiently (Fernando, 2011). For all this workers and employees
working within the firm should be happy and satisfied only then would
they be able to bring best outcome for the establishment. This department
is basically formed for ensuring of this and rectifying any kind of query
or problem which might arise in any kind of situation. Due to all of this
employees would be able to perform well and company can easily
achieve their tasks (Gebauer, Paiola and Edvardsson, 2010).
Research and
development
Through this type of department there is only analysis of new ideas and
techniques which should be used in the firm to get new heights. Also, it
helps in using latest technologies which makes the efficiency power of
the firm to be maximum. This sector is also conducting survey just to
understand what does the customers really want from the company
(Mahmood and Hanafi, 2013).
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TASK 3
Covered in PPT.
TASK 4
Covered in PPT.
CONCLUSION
From the above report, it has been analysed that there are various types of organisation is
explained in this firm with their sizes and structure to distinguish them from each other. There
have also been various organisational functions which are explained in this report with their
interrelation among themselves. SWOT as well as PESTLE analysis done in this report for
NatWest and analysis is being assessed that how it affect the decision making of this firm.
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REFERENCES
Books and Journal
Agarwal, R., Grassl, W. and Pahl, J., 2012. Meta-SWOT: introducing a new strategic planning
tool. Journal of Business Strategy. 33(2). pp.12-21.
Aterido, R., Hallward-Driemeier, M. and Pagés, C., 2011. Big constraints to small firms’
growth? Business environment and employment growth across firms. Economic
Development and Cultural Change. 59(3). pp.609-647.
Auzair, S., 2011. The effect of business strategy and external environment on management
control systems: a study of Malaysian hotels. International Journal of Business and
Social Science. 2(13).
Avramenko, A., 2012. Enhancing students' employability through business simulation.
Education+ Training. 54(5). pp.355-367.
Burns, C. and Winter, S., 2011. Introduction. Australian Farm Business Management Journal.
8(2). p. iv.
Chow, A. T. and et. al., 2011. Broadband network with enterprise wireless communication
system for residential and business environment. U.S. Patent 7.944,948.
Commander, S. and Svejnar, J., 2011. Business environment, exports, ownership, and firm
performance. The Review of Economics and Statistics. 93(1). pp.309-337.
Cronan, T. P. and et. al., 2011. Decision making in an integrated business process context:
Learning using an ERP simulation game. Decision Sciences Journal of Innovative
Education. 9(2). pp.227-234.
Dahan, N. M. and et.al., 2010. Corporate-NGO collaboration: Co-creating new business models
for developing markets. Long range planning. 43(2). pp.326-342.
Fernando, A.C., 2011. Business environment. Pearson Education India.
Gebauer, H., Paiola, M. and Edvardsson, B., 2010. Service business development in small and
medium capital goods manufacturing companies. Managing Service Quality: An
International Journal. 20(2). pp.123-139.
Hamilton, L. and Webster, P., 2015.The international business environment. Oxford University
Press, USA.
Mahmood, R. and Hanafi, N., 2013. Entrepreneurial orientation and business performance of
women-owned small and medium enterprises in Malaysia: competitive advantage as a
mediator. International Journal of Business and Social Science. 4(1).
Siewiorek, A. and et. al., 2012. Learning leadership skills in a simulated business environment.
Computers & Education. 58(1). pp.121-135.
Teece, D. J., 2010. Business models, business strategy and innovation. Long range planning.
43(2). pp.172-194.
Ullah, A. and Lai, R., 2011. Modelling business goal for business/IT alignment using
requirements engineering. Journal of Computer Information Systems. 51(3). pp.21-28.
Wetherly, P. and Otter, D. eds., 2014. The business environment: themes and issues in a
globalizing world. Oxford University Press.
Online
Business Structure. 2017. [Online]. Available through:
<http://yourbusiness.azcentral.com/functions-organizational-
structure-2141.html>. [Accessed on 31st August 2017].
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