Business Environment in Lego

Added on - Nov 2020

Trusted by 2+ million users,
1000+ happy students everyday
Showing pages 1 to 4 of 15 pages
Business Environment
Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Different types and purposes of organisations.......................................................................1
P2 Size and scope of a range of different types of organisations................................................3
TASK 2............................................................................................................................................4
P3 Relationship between different organisational functions and link to objectives and structure
.....................................................................................................................................................4
TASK 3............................................................................................................................................6
P4 Identify macro environment positive and negative impacts upon business operations.........6
TASK 4............................................................................................................................................9
P5 Internal and external analysis of specific organisation to identify strengths and weaknesses
.....................................................................................................................................................9
P6 Strengths and weaknesses interrelate with external macro factors......................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................13
.......................................................................................................................................................13
INTRODUCTION
Business environment comprises internal and external components which influence on
operations of an organisation. Government, management, employees, suppliers, customers and
many other factors directly or indirectly affect on business. It is essential that management
consider them while formulating policies and rules. Besides this, competitors strategies and
functioning are acknowledged for making system function effectively (Business environment.
2018). Present report is based on Lego which is private firm headquartered in Billund, Denmark.
It is a toy sector company that provides variety of playthings and bricks to people. Different
types and purpose of organisations is specified in this assignment. In addition to this, relationship
between organisational functions and their link to objectives and structure is stated. Macro
environmentfactorspositiveandnegativeimpactonbusinessismentionedinreport.
Furthermore, internal and external analysis to identify strengths and weaknesses is explained.
TASK 1
P1 Different types and purposes of organisations
In recent time, organisations plays essential role in driving market conditions. Public,
private and voluntary are three forms of firms which increases employment chances. Besides
this, they also contribute in economic and social growth of country. But these organisation differ
with each other in respect to ownership and functioning that is described below:
Public sector:This segment includes firms which are run and functioned by government
for serving society. Police, education, health care, infrastructure such as bridge, water supply,
road,telecommunicationsareserviceswhichareprovidedbythisindustry(Vaiman,
Sigurjonsson and Davidsson, 2011). Bank of England is central bank of United Kingdom that
regulate nation by framing laws and regulations in respect to monetary policies and commercial
bank.
Purpose:Bank of England aim is to regulate economic conditions of United Kingdom. It
issues currency and formulate policies in respect to monetary and fiscal. Along this, it also
function as lender of last resort to financial institutions and government's bank.
Legal structure:State, local and central government are various structure that are
followed by public sector organisation are mentioned beneath:
1
State Government:These are authorities which have political power and controlling
authority of country.Local Government:These are administration whose duty is to control local part of
territory.State, province,region, district,city, town and villageare part of local
government entities.
Central government:These are administrative units of state and central agencies that are
responsible for economic territory of nation. This level government formulate policies,
issue currency and provide other economic and social services for development of
country (Wack, 2017).
Private sector:It is another segment which comprises companies which are owned and
controlled by a single person or individuals. These are firms that are incorporated by people for
generating profit and didn't need to be function in respect to government bodies. Lego is private
manufacturing firm which provide branded toys and interlocking plastic bricks. Thus, company
deliver products and services for accomplishing demands and needs of buyers.
Purpose: Lego aim is to encourage and inspire children to make them think in creative
manner. Besides this, they are also made capable to shape future by playing with toys(Yu and
Ramanathan, 2013).
Legal structure:Sole trader and partnership are two types of structure which private
firms follow are stated below:Sole Trader:These are firms that are incorporated and run by single person for
generating money for their livelihood. This scale of enterprise have limited liability that
is an individual require to pay debts of business only. Thus, there are no complex
documentation work require to be conducted by proprietor.
Partnership:These are enterprise which are managed by two or more individuals that
invest money for gaining profit. Partnership deed is sign by people which define rules and
conditionswhichallmembersrequiretofollowasdefinedunderanagreement
(Chetwood and et. al., 2014).
Voluntary sector:This segment includesfirms whose responsibility is to conduct
activities for social development of country. These are organisation which are established by
people for providing items and services to needy individuals. UNICEF is agency of United
2
Desklib Logo
You are reading a preview
Upload your documents to download or

Become a Desklib member to get access