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Macro-Environment Impacts on Business Operations

   

Added on  2020-06-04

12 Pages3691 Words455 Views
BUSINESS ENVIRONMENT

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Covered in PPT...........................................................................................................................1TASK 2 .....................................................................................................................................1P3 Relationship between different organisational functions.......................................................1TASK 3............................................................................................................................................3P4 Positive and negative impacts of macro environment upon business operations..................3TASK 4............................................................................................................................................5P5 Internal and external analysis of company to identify strengths and weaknesses.................5P6 Strengths and weaknesses interrelate with external macro factors .......................................7CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9

INTRODUCTIONBusiness environment can be defined as the sum total of all internal and external factors –all employees, partners, institutions , government and other forces that significantly influencesthe overall productivity, performance and growth of the enterprise. It is the place where all theoperations and activities related to a firm are conducted effectively and efficiently so as to attaingoals and objectives of a firm. It is of vital importance for a company to analyse and understandits business environment to identify opportunities that can be grabbed and threats that can beavoided so that the business can efficiently exploit its limited resources to produce maximumoutput and to earn huge profits with minimum risks (Adeoye and Elegunde, 2012). Argos is aretail company which was founded in 1972 and is situated in United Kingdom and Ireland. Thiscompany trade through two main sources that is online media and physical stores. They haveproducts from different brands which include health and beauty products, skincare and nailproducts etc. This report will give a brief about the nature, size and scope of the differentorganisation that are operating in different types of business environment. Moreover the projectwill also discuss the relationship of an organization with the objectives, highlighting bothnegative and positive impacts micro-environment on its working. TASK 1Covered in PPTTASK 2 P3 Relationship between different organisational functionsArgos is a unique multinational retail brand based in United Kingdom. Argos is aregistered owner of no of brands which deals in general merchandise and other householdproducts (Auzair, 2011). The business structure of the company compliments Argos inmaintaining its operational functions and to manage certain income and profit ratio. In additionto it, the organizational structure followed by the company give prime focus on its customers toprovide them with a enjoyable shopping experience. Using this structure , the firm strives toprovide efficient services in each and every of its business division . Below mentioned areorganisational functions of Argos and their influence upon other organisational divisions: 1

Marketing: Marketing serves as one of the most important function of a businessorganization as it is performs varied functions that helps the firm to identify the needs and wantsof the customers and to manufacture and modify its products and services according to that so asto provide customer satisfaction with maximum output. By performing various importantactivities like advertising , sales promotion, positioning, targeting, segmentation etc. marketingassists the company in building customer base and brand image of the product and services.Moreover it also conducts various market surveys and research to ascertain the prevailing trends,, taste, preference and competitors strategies etc. so as to forecast the expected demand andsupply from customers and buyers. Argos marketing strategy is associated with the low priceand more choice motto (Boons and Lüdeke-Freund, 2013). Argos marketing objectivescomprises to reach out its customers as far as possible. The promotional strategy of the firmincludes intensive use of advertisements through distributing brochures, organising innovativeand creative ad campaign and developing various promotional activities to capture the attentionof its customers. Argos also make use of discounted offers to attract large customers to sell largevolumes of products. Human resources: The Human Resource managementhelps the organization to achieveits objectives timely and efficiently with maximum returns by managing various functions ofHRM. By ensuring right person, at right job, at right time it enhances the performance andproductivity level of the firm. The recruitment and selection process followed by Argos impliesidentifying the talent, selecting the talent and then motivating them to work with best of theirabilities Argos identifies the employees in store and conduct interviews accordingly. It make useof both internal as well as external sources for recruiting employee. For instance in case there isrequirement of workforce in other functional unit, Argos appoint the employee which possessdesired skills and capabilities in that post (CGA, 2010). To maintain the competitive edge over itcompetitors and to motivate and enhance the skills and knowledge of the most valuableresources- its employees Argos conduct various training an d development program so as tomake it employees confident and proficient enough to take bigger challenges. Finance: Finance forms the most important and crucial functions of an organization asdecisions related to allocation of limitedly available funds to each departments is taken by thefinance department. The activities of finance department are kept confidential and it involveappointment of various experts so as to carried out the performance evaluation process. In2

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