(Solution) Business Environment : PDF
Added on 2020-12-26
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Business and BusinessEnvironment
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Different types and purpose of organizations and its legal structures....................................1Size and scope of range of different types of organizations...................................................3TASK 2............................................................................................................................................5Relationship between different organizational functions and how they link to organizationalobjectives and structure..........................................................................................................5TASK 3............................................................................................................................................7Positive and negative impacts the macro environment has upon business operations...........7TASK 4............................................................................................................................................9Internal and external analysis of organizations in order to identify strength and weaknesses9How strengths and weaknesses interrelate with external macro factors .............................11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
INTRODUCTIONBusiness environment is a combination of all the internal and external factor that directlyaffect entire functions of company such as customers, management, workers and so on. Mainly,the business environment is dynamic as it continuously changing. Along with this, it is totallydifferent from one place to another and from region to region. For example, political condition ofUK is totally different from another country (Bovee, 2010). Hence,this will aid organization toattain various opportunities in which they can easily improve their performance level at marketplace. Current report is based on The Lego Group, is plastic construction toys firm. It is aprivately held business organization that serve various products like, Lego interlocking plasticbricks and so on. This project discuss about different types, purpose of business organizationwith its legal structures. Relationship between organizational functions which is relatable withorganizational structures is also mentioned in this project. Along with this, positive and negativeaffect of macro environment on business operations are also mentioned in this project. At last,Strengths and weaknesses interrelation with external macro factors is also discussed.TASK 1Different types and purpose of organizations and its legal structuresAs per current scenario, various type of business organization operate their activities toaccomplish their target in appropriate time span. In this, some companies are operating formaking profitability and other work for social development. Thus, it is important for manager toeffectively understand the purpose of business so that they can easily establish their positiveimage. Mainly, there are three type of organization such as private, public and voluntary. Allthese are operating their activities with their specific purpose.Private organization:These type of businesses are owned by small family, provide investors for attainingsuccess at market place. In this there is no control of legal bodies because it is owned by privatepeople. The main aim of this type of business organization is to gain profitability level. For thisthey serve their quality products and services to customers. Along with this, they try to introducetheir business at higher level in order to enhance their productivity level (Bryman and Bell,2015). Lego is private company as it is a line of plastic construction toys which are produce bythe Lego group. This company was established in 1949 with the name of The Lego Group in1
Denmark country. In this, they operate their business in delivering new and innovative servicesto customers with the purpose of attaining profitability level at market place. Purpose of Lego: The main purpose of The Lego Group is to enhance their productivitylevel by delivering quality toys and plastic bricks. Along with this they try to make theircustomers base strong. This will help them in increasing their brand image in market place and atthe same time also capture market share form its rivals (Buckley and Casson, 2010). Legal structure of private organization: It consist various examples of owing a businessactivity. All these can be understood by following points:Sole Trader: This type of business is operated by single person with the purpose ofgenerating money. Along with this, all the decisions and liabilities is highly owned by anindividual. A single person who start and control business is also able to pay credits andattaining profits as well. One of the main benefit of this type of organization is to takequick decision. On the other side, drawback of this business is that it required lots ofinvestment to operate organizational activities. Partnership: When two or more than two person comes together for operating business iscalled partnership. Along with this, all the partners are sign deed of partnership in whichthey are able as well as responsible for all kind of debts and profits. In this, all thepartners share responsibilities to control the business.Limited company: This type of business organization has separate legal identity andoperated by board of director. Along with this, there are limited liabilities which is basedon guaranteed ratios.Cooperatives: These kind of business activities are owned by its employees with thepurpose of generating profits. In addition to this, it is necessary for all workers tocontribute within the organization to make effective control on the business activities. Public organization: These type of business organizations are controlled by government bodies. It is wide innature as they operate their business with the purpose of providing betterment to society. Alongwith this, they provide their share from IPO in order to raise their funds. Thus, it is vital for themto utilise their resources in optimum level in order to provide number of benefits to society(Commander and Svejnar, 2011). Bank of England is public organization, which is the centralbank of the UK of Great Britain and Northern. This bank was established in 1694 as it is world's2
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