Business Environment Assignment - Starbucks

Added on - 06 Jun 2020

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BusinessEnvironment
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 & P2 Covered in PPT.............................................................................................................1P3 How organisational functions are interrelated with its goals and objectives........................1TASK 2............................................................................................................................................3P4 Positive and negative impact of macro environment.............................................................3TASK 3............................................................................................................................................5P5 Conduct internal and external analysis.................................................................................5TASK 4............................................................................................................................................6P6 How strength and weaknesses are related with macro environmental factors......................6CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
INTRODUCTIONA business can be establish easily, but to sustain successfully it needs various resources,i.e. finance, human resources. Businesses organisations works under a framework which is calledbusiness environment; its an intermixture of various internal and external factors which reflectfirm's function's including staff members, management, customers, supply and demand as well asbusiness regulations. Although business environment presents opportunities and threats for abusiness; a good manager not only determines the environment but also take actions to respondthese forces. It is essential for business to be aware towards ongoing change which occurs inenvironment, like – customers requirements, new government policies, emerging trends andtechnological changes etc. so as to make necessary decisions. Therefore, firms which arethoroughly evaluate their environment can easily deal with these changes and gain highcompetitive edge at marketplace (Agarwal, Grassl and Pahl, 2012). The present assignment isbased on Starbucks; it is one of the leading coffee house chain over the world. Apart from this,the report will be described different types of business organisations, such as – public, privateand voluntary sectors. Readers will also come to know about interrelationship between variousorganisational functions. Furthermore, an internal and external analysis will be conducted so asto know strength and weakness of the firm.TASK 1P1 & P2 Covered in PPTP3 How organisational functions are interrelated with its goals and objectivesIn this competitive era, companies are tend to improve its working procedures so as tocomplete all tasks and activities. For this, they are trying to collaborate all departments together;it results enhancement in production level of the firm. It is assistive for Starbucks to accomplishgoals and objectives in a certain time period. In a business organisation, there are differentfunctional areas which are stated as under: -Marketing department– This department of the firm is liable for promoting andadvertising products & services to the firm at marketplace. Marketing departmentpromotes and implement a business in its niche which is rely on the products or servicesof the businesses (Aterido, Hallward-Driemeier and Pagés, 2011). In Starbucks, the unitsdetermines those areas in that a product can be befitted, by this firm can focus on itsmarketing strategy. Thus, formulating marketing budget accordingly. In addition to this,1
marketing creates awareness towards products as well as also increases customers'interest to purchase these products and services. In context of Starbucks, marketingmanager of the company focus on attracting potential customers and grab better futureopportunities from target market.Human resource department– This unit of a corporate association provides labour lawcompliances, recruiting, selection, training, development, record keeping, compensationand handle employee grievance as well as performance related issues. These are theessential functions because by this any firm cannot meet needs or desires of managementand staff members. Along with this, HR manager of companies also look out how tomanage strong employee relations so as to implement healthy and positive workingenvironment. Another role of the person is to hire well qualified and skilled people whohave efficient abilities to complete tasks in most innovative manner. HR professionals ofStarbucks timely organise training and development programmes for employees so as toimprove their skills and knowledge level.Accounting or finance department– Growth and advancement of any businessorganisation is highly depends upon its financial health. Financial department of thecompany is liable for treasury management, it encompasses with all necessary things,such as – level of risk. Another role of the unit is to control entire cost by reducingwastage and time. The finance department of the firm ensure that all funds or capital arespend as per the budget and operating needs of the firm. In some companies, there is noseparate budget for to cover up all deficits (Auzair, 2011). Furthermore, in Starbucks'accounting department managers have responsibility that their customers pay their billson time. The department also determines investment opportunities for the firm so as tograb better market growth and success; for this there can be used capital budgeting aswell as investment appraisal technique.Production and operational department– In this competitive era, it is essential forbusiness organisations to generate new and innovative products so as to obtain maximumcutting edge. Production managers focus on generating new and innovative products soas to deliver something to society, beside this they also tend to modify existing offeringsof the firms and make them able to satisfy customers' needs and wants. In Starbucks,production managers identifies availability of raw materials and machinery which is2
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