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Study of Business Environment in UK Organizations

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Added on  2020-01-16

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This unit focuses on the study of various factors of the business environment that leads to change in the behaviour of the business accordingly. Private limited companies do not offer their shares to public while public limited company offer the share to the public also. The main purpose of Primark is providing varieties of goods and services to their targeted audience and try to attract them as well.

Study of Business Environment in UK Organizations

   Added on 2020-01-16

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Business Environment
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Introduction:Business environment includes all the surrounding of the business that affect their functioningand behaviour. This unit focuses on the study of various factors of the business environment thatleads to change in the behaviour of the business accordingly. This unit focuses on discussion ofthe type and purpose of the organisations in UK. Further, it discusses about various stakeholdersthat are associated with the organisations and the responsibilities of the organisations towardsthem. It also discusses about market forces like demand and supply and how they affect thedecisions of the organisation. This unit also throws light on the perspective of change in demandand supply on pricing. Business environment of the organisation is formed by global factors thatwill be discussed in this unit briefly. The last part of this unit discusses about the impact of EUlegislation on UK based businesses.
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Task 11.1 Identify the purposes of different types of organisation.Not all the organisations in the country work similarly. They have the categories according tovarious factors. One of the factors is the ownership of the organisation. According to ownership,organisations have been divided into various categories. Some of them are discussed below:1.Limited company: Limited companies are owned by shareholders. Private limitedcompanies do not offer their shares to public while public limited company offer theshare to the public also. 2.Sole traders: Sole refers to single. This suggests that sole traders are the organisation runby single owner. These organisations function generally at small scale.3.Co-operatives: The people from the public associate and form the company for servingthe public only.(Adekola and Sergi, 2007)4.Franchise: It is the type of organisation in which, owner company grant permission to thelocal company to run their business in that area. 5.Partnership: It is the form of organisation where two or more than two people share theliability and profits of the organisation and act as partners. This case is about a private limited company known as, Primark. Primark is a retailer companythat serves its customers by acting as the mediator between the manufacturer and the customers.Purpose: Primark is a retailer in fashion business that does not produces the products withthemselves but depends on manufacturers for that. The core values of the company believe inethical framework of the business. The main purpose of Primark is providing varieties of goodsand services to their targeted audience and try to attract them as well. They needs to manage theirperformance in order to expand business in across the national border. Try to improve salethrough deliver best of goods and services in international market. These core values are 1.It is a people oriented organisation
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2.Focuses on maintaining the ethical work environment for the employees. 3.They are not only responsible for their employees but focuses on educating the workersworking with their manufacturers. These ethical practices by the company defines it pure objectives. Corporate SocialResponsibility is the area of work that has also been focussed by the company. (Aras andCrowther, 2011)Type of organisation Company name Purpose Public limited company NHSNHS is incorporated for identifyexcellent high school students. Thisorganisation identify those brilliantstudents who are perfect in differentsectors are like scholarship, leadershipand services. Worldwide more than onemillion students can participate in NHSfor improve their activities in schooltime. The NHS is incorporated for notonly recognize students but also preparethem for further challenges , improveand develop their activities. Charity The British Red CrossThis charity firm is purely into provisionof health and support to the populationof Britain. The company aims atproviding help to the people inemergency. The values of the companysuggest that they are courageous,dynamic and compassionate towardshelping others. Co-operatives Clydebank co-operative societyClydebank cooperative society registeredin scotland. The main purpose of it isprovide food to their consumer. Itoperats six foos store. Clydebankdevelop all their stores to attain itsobjective. It attracts more consumertowards their food. They want toenhance and promote their food productin a worldwide.
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1.2 Describe the extent to which Primark meets the objectives of its different stakeholders.Stakeholders: Stakeholders are the supporters who support the business to exist. They areassociated with the organisation in one or the other form. The practices of the organisation affectits stakeholders and vice versa. This is the reason they are very important for the functioning andexistence of the organisation. Types of stakeholders:As far as Primark is considered, this organisation has internal as well as external stakeholders.Internal stakeholders are the one who are closely associated with the organisation likeshareholders and the employees. The external stakeholders are associated relatively less closelyto the organisation. These consist of customers, suppliers and workers in the case of Primark.These stakeholders have the give and take relationship with the organisation. Stakeholders likeshareholders provide funds to the organisation and organisation provides the profit in return.Therefore, both the parties remain in benefits. All the stakeholders have different needs andPrimark has different responsibilities towards them. (Avadhani, 2010)Stakeholder’s objectives that needs to be met:1.Shareholders: Shareholders are the stakeholders that are most closely associated withthe organisation. Shareholders of Primark have some of the shares of the company withthem. They are the internal stakeholders.Objectives: Shareholders are the one who invest capital in the organisation and theorganisation needs to return appropriate amount to them. (Cherunilam, 2010)2.Employees: The people who work in different department of the organisation are knownas employees. The company owners and Board of Directors recruit these employees.Every process of the organisation requires the man force to be conducted. Objectives: Employees work for the organisation and want job satisfaction in return. It isthe responsibility of the Primark to provide proper working environment and jobsatisfaction to the employees.
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