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Business Environment Project Report - Marks & Spencer

   

Added on  2020-06-05

12 Pages3287 Words51 Views
Business DevelopmentLeadership ManagementProfessional DevelopmentMaterials Science and EngineeringPolitical Science
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Business Environment
Business Environment Project Report - Marks & Spencer_1

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1PESTEL and SWOT can be used to examine and analysis the business environment...............1TASK 2............................................................................................................................................7Examine how company is governed and managed.....................................................................7CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9.......................................................................................................................................................10
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INTRODUCTIONBusiness environment is a combination of internal and external factors that affect overallperformance of the business functions which include employees, customers, supply and demand.Both factors influence the operations of the business which aid in improving the overallperformance of the company is appropriate manner (Welter and Smallbone, 2011). Basically, itis an effective process of gathering all the relevant information as well as data which isuncontrollable by the business. Present report is based on Marks & Spencer's, it is a Britishmultinational retail company which provide home and luxury products to customers. This reportcovers PESTEL and SWOT analysis which aid in evaluating the actual performance of thecompany. Along with this, how a company is governed and managed their activities is alsomentioned in this report. TASK 1PESTEL and SWOT can be used to examine and analysis the business environmentBusiness environment is an effective activity for gathering and collecting all the relevantinformation which helps in measuring the internal and external factors. Both factors affect theoverall performance of the company. Basically, environmental analysis is an strategic tool whichidentify all the factors that affect the company performance. For example, healthy and safety actas well as regulation is related to the external factors but it directly impact on business operation.With the help of business environment a firm easily identify their opportunities and threats whichaid in implementing their activities effectively (Hämäläinen, Näyhä and Pesonen, 2011). Forachieving positive results business continuously monitor their environment and also useeffective business practices so that they improve their performance. In this PESTEL and SWOTanalysis in more important for the company to evaluating the present performance so that theycontinue succeed in the market for longer time period. The main reason behind conducting theenvironmental analysis is define that what is happening in the business and outside of thecompany which helps in increasing the productivity level. Basically business environmentdivided in two factors which are: Internal business environment includes various machinery, stakeholders like customers,employees , suppliers and shareholders and other internal factors are equipment, technologies,1
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organizational culture, management systems, financial management and many more elementsthat affect internal business performance.External business environment include various competitors, customers behaviour,economy, social environment all are uncontrollable by the business that affect the overallperformance of the company. For better business environment company conduct various modelswhich are as follows:PESTEL analysis of Marks & Spencer's: (Source: PESTEL analysis, 2017)Political factor: These factors define and run by the government bodies. It defines thecurrent political situation of UK. Political factors also define the political condition that affectthe overall economy and business performance. It includes various laws, regulations and act thataffect the operation of the company. Instability in political factors are negatively affect thebusiness performance because it decreases the productivity of the company. For example, ifgovernment set health and safety rules for the employees which directly affect their performanceand productivity. If company do not follow all the rules then they fails in offering the quality2Illustration 1: PESTEL analysis
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