(Solved) Business Environment Assignment | TESCO
Added on 2020-12-10
16 Pages4937 Words148 Views
Business and BusinessEnvironment
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1. Different types and purposes of organisations; public, private and voluntary sectors andlegal structures............................................................................................................................3P2 Size and Scope of different types of organisation.................................................................5P3 Relationship Between Organisational functions....................................................................7TASK 3............................................................................................................................................8P4. Positive and negative impact of macro environment upon business operations...................8REFERENCES..............................................................................................................................12
INTRODUCTIONBusiness and business environment is the sum of all internal factors such as employees,customers expectation, demand and supply, management, clients, suppliers, owners, activities bygovernment technology, social trends, market trends, economic trends etc. Business andoperations are very much dependent over these factors because by combining all these factors abusiness produces (Charter, 2017). This report includes three organizations such as public,private and voluntary sectors. All these organizations are taken into consideration by explainingits different types, size and scope. Apart from that, the interrelationship of various functions andthe way they link to organizational structure are also explained. The second half of this report isbased on a single organization to demonstrate the positive and negative impact of macroenvironment on business operations. In the end, internal strength and weakness of the businessand their interrelationship with external macro factors is also determined.TASK 1P1. Different types and purposes of organisations; public, private and voluntary sectors and legalstructures.In this section, there are three types of organizations taken into consideration in whichtheir types, purpose and legal structures are explained. Public sector organizationThese organizations are operated in order to provide services to the citizens of a country.The organization in public sector is Bank of England which is central bank of UK on the modelof which different central banks are formed. The bank is headquartered at the Threadneedlestreet in the city of London since 1734. This bank was established in 1694 and gained the tag ofworld's eight oldest bank. The bank was operated by private stakeholders until it has beennationalised in 1946. In 1998, the bank was fully owned by independent public organization andoperated by treasury Solicitor on behalf of government. Following are the purpose legal structureand stakeholders of the bank.Purpose The main purpose of this bank is to promote the good of the people of UK bymaintaining monetary and financial stability (Purpose of Bank of England. 2019). Apart fromthis, the bank has the responsibility of managing the monetary policy of the country so as to
maintain the financial stability within UK. Settlement of rate of interest, inflation, bank notes,gold, prudential regulation etc. are some of the purpose of Bank of England.Legal StructureThe legal structure of bank of England is of higher level. All the legal functions anddecision-making is done by the higher authorities settled within bank. As per the legal structureof Bank of England, the higher official of legal observations are set according to the hierarchicalstructure from higher level to lower level (Crane and Matten, 2016). Therefore circulation ofdecision is done from the higher authorities and thus autocratic leadership is taken intoconsideration. This style is helpful in legal structure so as to circulate effective communicationand making of decisions quickly.StakeholdersThe stakeholders of the bank are its employees, customers, investors, shareholders etc.All these stakeholders gets impact with the decision-making of higher authorities. The settlementof monetary policy and other aspects within bank has a great impact over them.Private Sector OrganizationsPrivate sector organizations are the companies which has the main purpose of makingprofit. The organization taken in this sector is Tesco. This is a multinational retail organizationwhich has its headquarter in Welwyn Garden City, Hertfordshire, England, UK. The companymainly deals in providing service to the customers in almost 7 countries in Asia and Europe. Thestakeholders, purpose and legal structures of company are stated as follows:Legal structureThe legal structure of Tesco is like corporate governance. The company assures itsstakeholders to achieve the target what they want to achieve (Dawson and et. al., 2016). Apartfrom that the company is also assuring to reduce the carbon emissions from their plants andtherefore following the legal structure of UK also.StakeholdersThe stakeholders of company are person or group of individuals, employees, investors,shareholder etc. All these are impacted by the decision-making of company from the higherauthorities.Purpose
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