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Business & Business Environment | Assignment

   

Added on  2020-06-03

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Business and Business Environment

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11. Various forms, size as well as scope of organisations............................................................1LO 2. Interrelationship between different functions and the way they are related toorganisational structure...............................................................................................................4TASK 2............................................................................................................................................5LO 3 Impact/influence of macro environmental factors on Business operations.......................5LO4 Determining the Strength and weaknesses of NATWEST and explaining theirrelationship with external macro environmental factors............................................................7CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10

INTRODUCTIONBusiness environment refers to the all circumstances and situation surrounding business.It includes basically two terms that is business and environment. Business refers to the economicsystem where products and services are exchanged for one another for earning income as well asprofit. Environment is defined as the aggregate of all surroundings of living things hat includesnatural factors' and other living organism that supports business in their growth as well asdevelopment. In addition to this it also may lead to threats and damages. The environmentalfactors emphasize on fulfilling the needs of business and assist organisation in fulling variousrequirement that are essential for sustainable development. Business environment consist of bothinternal as well as external forces. These variables have both positive and negative on businessoperations.The study have focus on understanding the concept of business environment andanalysing the impact as well as influence of these forces on various activities that are conductedby enterprise. Reports also emphasizes on identifying different types of organisation and thepurpose of their establishment. It will also include the demonstration about the positive andnegative effect of macro environmental elements on various business activities. This can beunderstood well in context of NATWEST company.TASK 11. Various forms, size as well as scope of organisationsThere are several types of enterprise all these type of commercial enterprise arecategorised into mainly three sectors such as private, public and voluntary. The objectives ofthese enterprises may be different. Public sector organisation- These firms are generally closely-held, managed and control by stateor central governments and by local authorities. The objectives of these types of business entitiesis to provide common services to domestic people at reasonable price. Public organisation can bewholly owed by government or it can also be managed and owned by private firms. In both thecase central government have control over the various business activities. Such business unithave focus on providing utility services such as transportation, telecommunication , electricityetc. (Adebisi, Azeez & Oyedeji, 2016)The different form of Public limited firms are 1

Departmental undertakings- These types of organisation provide important services such aspostal services, broadcasting, postal services etc. The activities carried out by these type ofbusiness unit are controlled by ministry.Statutory corporation- It is defined as a corporate body that came into existence by the act ofvarious members of parliament. The functions, Power and management activities are defined bythe legislative authorities. Examples of such form of business units are state trading corporationsand insurance companies.Government organisations-This type of business unit is wholly owned, controlled and managedby legal authorities or central government.Advantages of public limited companies:It has focus on fulfilling social objective. It main aim is to provide social welfare. As itcontrolled by legal authorities country can achieve its economic as well as social goals.These types of firms are accountable for providing satisfaction to people. As ministry andgovernment has controlled over such organisation , it helps in preventing unfair businesspractises.Disadvantages-Due to high involvement in organisation activities the firm faces difficulty in administrations.Lack of flexibility.Lack of business experience.Private sector -Such organisation are closely-held and managed by individual person. In thesetypes of business unit the purpose of owner is to sell their products as well as services and earnprofit. But sometimes these business entities conduct partnership with Public sectors in toprovide joint services to people. The private limited firms that supply raw material comes underprimary sector. The business unit that manufacture goods are considered as secondaryundertaking. The investment is such types of business is made by owner. The example of privatesectors' organisation include-Sole proprietors-Sole proprietor enterprise are also known as unincorporated companies that isowned by single owner who are accountable for administration various business action and areliable for compensating various taxes. In this kind of organization the goal of businessperson isto make profits by delivering special services to consumers. Illustration of this organisation2

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