Analysis of PESTEL and SWOT of NatWest Bank : Report
Explain different types and purposes of organisations; public, private and voluntary sectors and legal structures.
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Added on 2020-07-22
Analysis of PESTEL and SWOT of NatWest Bank : Report
Explain different types and purposes of organisations; public, private and voluntary sectors and legal structures.
Added on 2020-07-22
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BUSINESSENVIRONMENT
Table of ContentsINTRODUCTION ..........................................................................................................................1TASK 1 (covered in ppt.).................................................................................................................1TASK 2............................................................................................................................................1P3 Relationship between different organisational functions and its link with organisationobjectives ...............................................................................................................................1TASK 3............................................................................................................................................3P4 Negative and positive impact of macro environment........................................................3TASK 4............................................................................................................................................6P5 Internal and external analysis of company for identifying weakness and strength...........6P6 Weakness and strength inter linked with external factors.................................................7CONCLUSION .............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTION Business environment is a major term which comprises of each component which giveimpact on organisation in both manner indirectly and directly. Therefore, manager is going toestablish their enterprise, an person have to analysed all factors which are important for thesuccess of company. Generally, enterprise surrounding are divided into two parts such as microand with that macro. Both effect business in positive and negative manner. NatWest is acommercial bank which is chosen in this report (Edquist, 2010). It was established in UnitedKingdom as well as make them available of funds at a cheaper interest rates. Major aim of thisassignment is to mark different forms of organisation which contains voluntary, public andprivate. Identify the strength and weakness of their enterprise so that they can have benefits fromtheir competitor at a place of market. Analysis of PESTEL and SWOT are also included in thisproject. It is important to know demands of consumers as it vary as per country. Elements ofmacro and micro can impact on making decisions process of company in a negative or positiveway it is necessary to identify in a effective way. TASK 1 (covered in ppt.)TASK 2P3 Relationship between different organisational functions and its link with organisationobjectivesTo run a business in an appropriate manner company performs various functions whichhelps firm in achieving the goals and objectives in a certain time period of time. In order to carryout the business operations a firm needs effective workforce in sales and marketing, R&D,production, customer service and in other departments (Hoang and Rothaermel, 2010).Therefore, functions of all divisions are linked with each other with common objectives i.e. toavail customer retention by its products or services. Especially in banking sectors like NatWest,role and functions of each department are interrelated with each other. Structures of anorganisation demonstrates its way and extend of business in which duties and responsibilities ofeach person has described. To establish a company, business owners need to introduce capitalfirst without which they cannot operates functions. Mostly, all industries follow a supply chainprocess to manage all departments and their functions appropriately. Some division sectors ofsuch companies are describing as below:1
Finance: It is a lifeline of company without which a company cannot establish itsbusiness in the marketplace. Finance department looks out transaction of money and resources,make necessary budget as well control it, raise funds from stakeholders or investors etc. For taxpurpose and legal formalities, this sector provides essential documents and statements (Helmsand Nixon, 2010). The main role of finance department is to provide proper finance to otherdivisions like marketing, HRM and others, so that they can carry out their activities in desiredmanner. With the help of marketing department, finance managers can allocate sources fromwhere funds can be arranged easily. Human Resource Management: For an organisation, manpower is its most valuableasset who contribute their efforts in achievement of business objectives and goals. In order toprovide them beneficial, human resource management carry its all functions regarding the same.HRM helps a company to provide sufficient manpower by recruitment and selection process. Ittakes all responsibilities like maintaining needs of employees, giving them healthy workingenvironment, compensation, training to develop their skills, performance appraisals etc. NatWesthas provided necessary training and development programs to freshers at time of recruitment toincrease knowledges in field of bank related terms (Chavis, Klapper and Love, 2011). Thus, thisdepartment help other divisions in providing best employees and giving best training to them. Itwill help marketing, finance and other departments in carrying out their functions moreappropriately. Administration:This department manage needs of all other divisions in a company.Administrators observes and examines performance of each section to ensure whetherfunctioning of them are carry out in a proper manner. They act as link between management andother persons. Thus, they help to run business of a firm successfully in a legal manner.Administration aid marketing, HRM, sales and other divisions in managing their operations andgiving directions to meet their requirement. Sales and Marketing: This division concerns on demands and interest of customers.Marketing one identify in which region of marketplace, sales can be increased by promoting andcampaigning products of a company. On the other hand, with help of this sector sales departmentemphasise on selling the goods in demanded area. Team-members of both sectors makesstrategies to advertise company's brand at remote areas also which helps in increasingproductivity and profitability of their business (Auzair, 2011). Functions of sales and marketing2
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