Business Environment - Tesco
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Added on 2020-07-22
Business Environment - Tesco
Added on 2020-07-22
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BUSINESS ENVIRONMENT
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P2- Describe the different stakeholders who influence the purpose of two contrastingbusinesses....................................................................................................................................4M1- Explain the points of view of different stakeholders...........................................................5D1- Evaluate the influence different stakeholders exert in one organisation.............................7TASK 2............................................................................................................................................7P3- Describe how two businesses are organised.........................................................................7P4- Explain how style of organisation helps in fulfilling their purposes....................................7TASK 3............................................................................................................................................8P5- Influence of two contrasting economic environments on business activities.......................8M2- Compare the challenges in business activities, in two different economic environments. .9TASK 4............................................................................................................................................9P6- Describe how political, legal and social factors are impacting upon the business activities.....................................................................................................................................................9M3- Analyse how political, legal and social factors have impacted on organisations..............11D2- Evaluate how future changes in economic political, legal and social factors, impact ......11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
INTRODUCTIONEach and every business firm is surrounded with environment which affect dailyoperations of an organisation. All the functions get affected from one of these environmentwhich are internal and external. Internal environment is related with the interior factor which areemployees, workers, CEO etc. All these work in making a better and effective firm throughwhich an entity can survive in a market (De Jonge, 2011). External environment refer to all suchelements which can made a vast impact on any business organisation and also not in control forany entrepreneur or owner of an enterprise. The present case study of business environment isabout Tesco and with the help of them assignment elaborate in find out outcome for a businesspurpose. TASK 1P1- Types of business, purpose and ownership of two contrasting businessesTypes of organisation in the private sector: Sole traders include tradesmen such as plumbers, electricians, television repair peopleetc. Nowadays lots of people are setting up their own businesses by creating small web-based companies working from home.Partnerships are typically found in professional services such as accountants, solicitors,doctors, dentists etc, where the partners can share expertise and skills. They can alsoshare the workload, organising work rotas to allow for time off and holidays. Partnersalso pool their capital.Companies are owned by shareholders that each contributes a stock of money into acentral pool. This pool of capital is then used to provide a core sum of finance, which isthen added to by borrowing and other forms of finance. Directors run the company onbehalf of shareholders who receive a share of the profits as dividends. Examples includePortakabin, Argos, Polestar and Cadbury Schweppes.Franchises are licensing arrangements whereby an individual or group can buy the rightto trade and produce under a well known brand name in a given locality. The franchiseebenefits from working for themselves while having the privilege and reputationassociated with a much larger group. Coca-Cola franchises some of its bottling
operations, and you will all be familiar with McDonald's. Many of the McDonald'soutlets are franchised.Criteria For Judging The Success Of BusinessBusinesses come in a variety of forms. For example, one important distinction is betweenprivate and public sector businesses. Then within each sector there are a number of differenttypes of business.In the public sector, public corporations are government owned businesses such as theBBC, which are then managed independently of the government but to pre-set aims andobjectives. Municipal enterprises are local government enterprises.In the private sector, there are sole traders, partnerships, private companies, publiccompanies, and franchise organisations.P2- Describe the different stakeholders who influence the purpose of two contrasting businessesA Stakeholder is a party that can influence and can be influenced by the activities of theorganization. They are the interested parties who help the organization to exist. In the absence ofstakeholders, the organization will not be able to survive for a long time. In this section I will be describing different type of stakeholders internal and external.Also explaining who they are and what they are, then contrasting them with two differentcompanies NHS and Ford Motor describing what the stakeholders want from the chosenbusinesses and why the stockholders are useful.Stakeholder is a person who is in an organisation and is affected by the organisation in terms ofstrategy and project. Stakeholders can be internal or external at different levels e.g (Harrison,2011). Internal stakeholders are groups within a business such as owners and workers andexternal stakeholders are groups the outside a business such as suppliers and community.List of internal and external stakeholders and explanation of what they are and who they are:
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