Business Environment of McDonald and Burger King - Report
Added on 2020-06-04
13 Pages4054 Words93 Views
BusinessEnvironment
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Covered in PPT.......................................................................................................................1TASK 2............................................................................................................................................1P3 Relationship between various organisational functions and its link with organisationalobjectives and structure..........................................................................................................1TASK 3............................................................................................................................................3P4 Positive and negative impacts of macro environment on business operations.................3TASK 4............................................................................................................................................5P5 Internal and external analysis of organisation for identifying its strengths and weakness5P6 Interrelationship of strengths and weakness with factors of external environment..........6CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
INTRODUCTIONEnvironment refers in which a business firm operates and execute various commercialactivities with the aim of earning profit is considered as business environment. Large number ofinternal and external factors exist in this which largely affect the operations of a firm (Chavis,Klapper and Love, 2011). For achieving success or before taking any action it is very necessaryto identify and study the factors prevailing in the surrounding because these elements can hampertheir business activities. Managers of big large scale companies make policies and strategies afterevaluating all the components of it. Analysis of competitors, firms are also covered under thestudy of business environment (Business environment, 2017). McDonald, a fast food giantcompany existing in almost all the countries is taken under this report. Burger King is anotherprivate firm which is catering in the same sector is also mentioned in this. Various types oforganisation with different purposes are discussed in this report. Further, various size of firmsand scope of their business activities is also mentioned under this. How various functions of anenterprise are directly linked with the structure and objectives of business and impact of externalenvironment on the activities of business organisations is also detailed under this essay. TASK 1Covered in PPTTASK 2P3 Relationship between various organisational functions and its link with organisationalobjectives and structureDifferent functions are carried out in an enterprise for making an effective products andservices to satisfy the needs and wants of customers. For achieving success, it is very necessarythat all functions should be performed effectively. For capturing a larger market, it is verynecessary for the McDonald to perform all its operations in a proper way. Main functions ofMcDonald can be understood by the following points: Production and design: For influencing large number of people to buy the products offirm, it is very essential for McDonald to design the process and products in an uniqueway from its competitors (Commander and Svejnar, 2011). One of the main speciality ofthe McDonald operations is that firm gives shape to its activities as per the culture inwhich firm is operating. This is one of the main reason why firm attracts large number ofcustomers. Labour, equipment and capital are the main elements of production process. 1
Human resource function: Employees are one of the valuable assets of every enterprisespecially for the firms who are operating in an hospitality sector. It is very important forevery firm to hire skilled candidates for performing various jobs in a firm. Today largenumber of capable candidates work in McDonald who maintain the quality of productsand satisfy the needs of customers (Eckardt, 2012). This is the reason that today firmcapture a larger market shares and has competitive advantage over its rivals. Firm followan effective policy and strategy which helps in ensuring that employees are makingquality products. For perform better in the future, it is very necessary that all crucialinformation should be delivered to the staff members so that they can give direction totheir activities for attaining the business targets.Finance: No firm can survive without sufficient amounts of funds. Enough amount offinance is needed by every company to execute business operations. Shortage of moneycreates unnecessary obstacles in execution of firm activities. So it is the responsibility ofthe finance manager to first identify the needs of funds required and then make sure thatfirm have enough resources to execute business activities. Function of sales and marketing: Marketing is one of the main departments of everyorganisation because various operations are undertaken by this area in order to firstidentify the demands of customers. After collecting information company uses it in theproduction process and do necessary modifications in the current products in order tosatisfy the requirements of customers. All this increase the sales of product. Unique andbetter goods develop the trust and loyalty of consumers towards firm's goods. Administrative function: Administrative department of the enterprise undertake variousimportant activities of business like handling complaints and issues of the customerssending them mails and many more (Eisenberg and Miller, 2012). Along with this, thisarea creates the supported documents for the business operations in the forms ofnewsletter and business memos. Operation: Process of making final product and service is knowns as the function ofoperation. It is very necessary that effective methods and process should be adopted bythe firm as this help in maintaining the quality of the products. For operating business in an effective way and to increase the level of profit it is verynecessary for the McDonald to execute all these functions in an effectively (Organizational2
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