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Macro-environment in business operations: strengths and weaknesses

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Added on  2020-10-22

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BUSINESS ENVIRONMENT INTRODUCTION 1 TASK 11 Covered in PPT1 TASK 21 P3 Relationship between different organisational functions and link to organisational structure and objectives 1 TASK 33 P4 Positive and negative impacts the macro environment onbusiness operations 3 TASK 44 P5 Internal and external analysis in order to identify strengths and weaknesses 4 P6 Strengths and weaknesses interrelate with external macro factors 6 CONCLUSION 8 REFERENCES 9 10 INTRODUCTION Business environment is determined as combination of internal as well

Macro-environment in business operations: strengths and weaknesses

   Added on 2020-10-22

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BUSINESSENVIRONMENT
Macro-environment in business operations: strengths and weaknesses_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Covered in PPT...........................................................................................................................1TASK 2............................................................................................................................................1P3 Relationship between different organisational functions and link to organisational structureand objectives..............................................................................................................................1TASK 3............................................................................................................................................3P4 Positive and negative impacts the macro environment on business operations.....................3TASK 4............................................................................................................................................4P5 Internal and external analysis in order to identify strengths and weaknesses........................4P6 Strengths and weaknesses interrelate with external macro factors........................................6CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9.......................................................................................................................................................10
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INTRODUCTIONBusiness environment is determined as combination of internal as well as external factorswhich impacts on profit level as well as performance of firm. It consists of people, entities andsome of the other aspects which impact on process of decision making of firm. An environmenthas several forces that give share to segment of business along with the product line (Adeoye andElegunde, 2012). Under this, business environment is affected through different aspects andinfluence whole effectiveness as well as performance of an organisation. Under this report, firmthat is referred to is Marks & Spencer and it deals in retail sector and also provide clothing, homeaccessories and many other products around the globe. Under this report discuss about variouskinds of businesses and also purposes of firms like private, public and voluntary and also theirlegal structures. In this also discuss regarding relationship among various functions of companyand they are related with organisational aims as well as their structure. In order to determineweaknesses and strengths, firm conduct internal and external analysis of particular company willbe mention. TASK 1Covered in PPTTASK 2P3 Relationship between different organisational functions and link to organisational structureand objectivesMarks & Spencer is large organisation and people are familiar with the functioning andservices of this company. This business conducts its business operations in many countries byproviding different varieties of products and services to people (Auzair, 2011). Its main motive isto earn more profit through satisfying demands or needs of consumers by provide them productsat reasonable costs. Every and each business give their full dedication in fulfil basic needs ofconsumers in an effective manner. Under Marks & Spencer, there are various departments whichare link to organisational objectives and structure:Marketing department- It is fundamental department that help in provide wide range ofproducts and services at competitive market place. Its main motive is to fulfil needs ofconsumers in an effective manner. It is helpful in give competitive advantage to firm by1
Macro-environment in business operations: strengths and weaknesses_3
achieving aims with in given period of time. It will be helpful in provide advantage to Marks &Spencer firm at market place. For instance: Marketing function with M&S conducts marketresearch which helps in identification of customer preferences and market trends. Theinformation available could be provided to R&D department to develop products which canaccomplish the same. This strategy will be helpful in fulfilling business objectives in the form ofhigher profitability.Human Resource Department- The role of this department is to recruitment, selection,performance appraisal, training and development, increase productivity of company and manyothers (Avramenko, 2012). In addition to this, it is a responsibility of manager of this company isrecruit the capable candidates which can perform in well manner and also provide them trainingso that they can deal with consumers and focus on perform their tasks and activities in wellmanner. Finance department- Main function of this department is to arrange and manage all themonetary transactions so that all departments can perform their operations in better manner. It isliable for align finds to the distinct firm for doing business activities with in set time period.Allotment of right funds to various department such as marketing. Production, R&D will lead tobetter performance in terms of functions.Operation and Production department- This department is connect with produceproducts and services according to demands and needs of consumers in an effective manner.Their main work is to make quality of goods better so that people can attract towards form andpurchase products. The Marks & Spencer organisation produce various services and productsafter examining main market which can help in fulfil needs of customers and attain objectives.The production of better outputs will ensure improve profitability is achieved.Research & Development- It is liable for conduct an investigation about market place,customer needs, existing products, competitors at market place and many others (Bar-Isaac andShapiro, 2013). These all things are helpful in provide advantages to firm and on the basis of allthese data or information in proper manner. If an organisation will develop suitable products, itwill help them in achieving their goals of higher profits in market.Division of Marks & Spencer organisation is fundamental and also related with processof decision making of company which can help in deliver better practices. In addition to this, it is2
Macro-environment in business operations: strengths and weaknesses_4

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