Business Environment of Marks and Spencer - Assignment

Added on - 22 Jul 2020

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Business Environment
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Covered in PPT.......................................................................................................................1TASK 2............................................................................................................................................1P3 Relationship between different organisational functions and its link with organisationalobjectives................................................................................................................................1TASK 3............................................................................................................................................3P4 Positive and negative impact of Macro environment on Business operations..................3TASK 4............................................................................................................................................6P5 Internal and External analysis of Marks and Spencer.......................................................6P6 Interrelation of Strength and weakness with external Macro factors................................7CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
INTRODUCTIONBusiness environment define as such place where differ number of firms are operatingtheir work. It is really important for managers to understand about situation of various kind ofarea so that appropriate and suitable strategies could be crafted by underlying them(Botha,Kourie and Snyman, 2014). in this scenario, managers have to understand about the diversifiedbusiness environment so that better and effective working aspect could be maintain and manage.every organization have their own aspect of work and purpose as well as they also get vary insize with legal formalities implied on them. This project is based on Marks and Spencer which isa retail clothing company. Hence, they will going to identify the macro environment factorswhich made adverse impact on working. Along with the strength and weakness. Moreover, itwill also combine about the strength and weakness with macro factors.TASK 1Covered in PPTTASK 2P3 Relationship between different organisational functions and its link with organisationalobjectivesEach company is distinctive from others; therefore, their aim is alsodistinguish. Thus, it is required for manager to formulate an effective framework sothey will be able to attain coveted targets and goals within limited period of time(Belás and et. al., 2015). In context of Mark and Spencer, it is public limitedorganisation and almost 84500 people are working with them. They are operatingtheir business at global level which is dealing in various sectors, such as food items,clothing, luxurious products and many more. Hence, they need sufficient finance sothey will be able to accomplish operational activities in a proficient manner.This has been examined that M & S is following flat organisationalframework. In company, there are fewer management level; therefore, staffmembers will interact with each other in an effective and efficient way. Manager offirm take support of their employees into procedure of decision making. Certainstrategies as well as policies will be formulated by superior to enhance participation1
level of workers. There are numerous individuals who are working withAssociation; thus, it is essential for management to take quick judgement(Epifanovaand et. al., 2015).There are many functions which are present in affiliation, which comprisesresearch and development, accounting, human resource management, purchase,finance, sales and many others. They all are doing their functions in an appropriateway; as a result, they will easily maintain position in market effectually. Alongwith, if they collaborate overall functional activities then targets and goals willattained properly.Henceforth, it has been understood that interrelationship of organisationstructure with functions are stated as beneath:Marketing Department:It is considered as foremost function which has to beexecute by M & S. it is required for company to advertise items and services; thus,they will be able to gain attention of numerous people towards them(Bah and Fang,2015). With assistance of this, they will take benefits from rivals at competitiveplace easily. Organisation is having an appropriate team of marketing which enablesthem to survive at marketplace for maximum period of time. This will aid them inenhancement of profits as well as market share.Human resource department:It is prominent for manager to recruit rightcandidate for the job who is having appropriate skills and capabilities. Thus, theywill accomplish their work through proper coordination as well as cooperation. Itwill assist to complete task within minimum period of time(Cull and et. al., 2015).Production and operations:This is considered as a most significant functionof an association. It will connected with each type department. If they are havingproper knowledge regarding requirements and demands of people then, they willmanufacture products accordingly. As a result, they will easily accomplish desiresof individual so that they will keep up brand image in market for longer period oftime.Accounting and Finance:It is essential for them to record each transactionwhich is associated with money on regular basis. They have to allot fund to eachdivision so they will be able to complete their operational activities in a proper2
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