Business Environment - IKEA
Added on 2020-10-05
13 Pages4051 Words68 Views
BusinessEnvironment
ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Covered in PPT............................................................................................................................1TASK 2............................................................................................................................................1P3 Relationship between various functions of organisation and its link with structure andobjectives.....................................................................................................................................1TASK 3............................................................................................................................................3P4 Positive and negative impact of external factors on business environment...........................3P5 Internal and external analysis to know strengths and weaknesses.........................................6TASK 4............................................................................................................................................7P6 Interrelation of strengths and weaknesses with external factors............................................7REFERENCES................................................................................................................................9
INTRODUCTIONBusiness environment is known as mix of various internal and external factors thatlargely impact the decisions taken by a business enterprise to remain competitive in market.Internal factors are known as those elements that remain inside the enterprise and arecontrollable by the management. External factors are known as those elements that exist outsidethe entity and impact actions of a business enterprise on large level. These factor are also knownas macro environment. Identify and analysis of external elements is most essential function of abusiness enterprise. One of the main benefit of this analysis is that it make the manager awareabout the current market trends which support in offer better products to customers. IKEA, afirm that operate on international level and deal in various type of products such as furniture,home and kitchen appliances is taken under this report for study. Various type of organisationswith its purpose and legal structure is all mentioned in this. Further, relationship between variousfunctions of an enterprise and its link with the structure adopted by entity is all described underthis. Various tools that can be use by business enterprise to undertake internal and externalanalysis is also given in this. TASK 1Covered in PPTTASK 2P3 Relationship between various functions of organisation and its link with structure andobjectivesVarious type of functions are perform by a business entity in order to satisfy the needs ofits customers and to attain its set goals and objectives. It is very important for every businessdepartment to perform its roles and responsibilities in effective way as this help entity in getcompetitive place (Kolk, 2016). Effectiveness of business activities is based on various factorssuch as its final objectives and the structure follow by firm. Before assign roles andresponsibilities to different department one of the major thing that require to be consider bymanager of firm is that the function perform by various department are interlink with each other.With this, manager can bring and maintain cooperation among various business functions andcan get better satisfy the needs of its customers. Functional, matrix and divisional are the three1
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