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Business Environment of Marks and Spencer Plc

   

Added on  2020-07-23

11 Pages3191 Words120 Views
Business Environment

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1 Organisational Types and purposes of businesses.............................................................1TASK 2. Understanding the nature of environment that organisation operates .............................3TASK 3 Impact of various environmental forces on company at micro and macro level..............3TASK 4 The significance of the impact of environment at an organisation , market sector orindustry level....................................................................................................................................4TASK 5 The requirement of various stakeholder to Marks and Spencer Organisation..................5TASK 6 Measuring the effectiveness of the responses of organisation to policy actions taken byKey stakeholders..............................................................................................................................5Conclusion.......................................................................................................................................6REFERENCES................................................................................................................................7

INTRODUCTIONBusiness environment refers to the sum total of all external and internal factorsthat have direct impact on business operation. The business environment include thoseexternal elements that are beyond the control of organisation and they have direct impacton the functioning of business unit. The various external forces include technology,economy, social and cultural factors. Internal factors are controllable factors theseelements include employees, management, and corporate culture that indicates thebehaviour of employees. Some of these factor have effect on organisation as a wholewhereas other constituents have influence on manager decision making process.Marks and Spencer Plc organisation have been selected for conducting theresearch. Marks and Spencer company is a multinational British organisation that islocated in London (Spencers makes fine living affordable, 2017) The enterprise specialisesin selling clothes , home products and luxury food products. The firm is being chosen asit is dealing in different product that will assist in explaining the concept of businessenvironment in much better way (Marks and Spencer to launch mortgage range, 2017)The study will have focus on exploring the organisation types and purposes ofbusiness range. It aims at developing understanding of nature of environment in whichbusiness operates. TASK 1 Organisational Types and purposes of businesses There are various types and purposes of business from the range of sectors. These are:Private sectors- The private sectors companies are owned and managed by individual owner.The most of private sectors' enterprise are established with the purpose of earning profit. Thissector is also referred to as citizen sector. In private sector most of the activities are guided bythe motive to earn money. In many countries private sector is wider and places fewer constraintson firm. The private sector is a part of country economic system that is run by individual orgroup usually as a means for organisation for Profit. The main types of business enterprise in theprivate sectors are:Sole traders: The sole trader is the common types of business ownership and engaged in widerange of activities such as window cleaning, plumbing, electrical work, busking etc. The 201

percent sole trader organisation in Uk are operating in construction industry, further 20 percentare retail enterprise, 10 percent are delivering Financial services, and 10 percent organisation areproviding catering services. It is required by individual to complete complicated documentprocess in order to establish sole trader business. In sole proprietor the decision making processis very Quick. As there is only one single owner therefore he is the only person responsible forprofits and fulling various responsibilities.Sole trader is a person who managed and controlbusiness. The sole trader is only a person who is entitled to keep all profit and responsible forlosses. When organisation is owned by single person it is known as sole trader organisation.Partnership:The normal partnership firm consist of minimum two and maximum twentymembers. But according to partnership act that has made it legal for particular partnershiporganisation that is bid accountancy enterprise to haver more partners so that they could enjoylimited liability. The purpose of partnership is to increase creditability with customer as well aswith suppliers. Partnershipis referred to as relationship between two or more person who agreedto share profits and losses. A business Partner is a commercial entity with which anotherbusiness entity has form alliance. This relationship may be contractual exclusive bond in whichboth entities commit not to ally with third parties.Voluntary organisations-Voluntary organisations comprise sf group of people who enter into avoluntary agreement to achieve common goals. Voluntary organisation consists of thoseindividuals or group of people who have willingness to work for social benefit. Some examplesof voluntary organisation are trade companion,groups and environmental associations , teachersunion etc. These organisations may be incorporated or unincorporated. This forms of enterprisesincludes all kind of groups small local resident to large legal registered associations. Voluntaryorganisation refers to the group of individual who enter into an agreement in order to accomplishcommon purpose. Voluntary organisation is an organisation which relies on occasional orregular volunteers for its business activities and may not have paid employees.Charitable organisation-This type of organisation is also known as non profit organisations.The purpose of this type of organisation is to provide social welfare. This form of enterprises aregenerally depended on the donations. These organisations can be established , managed andcontrolled public ally or privately. Some charitable firm may have focus on providing specificservices such as religious, educational, other services related to other public interest. Theseactivities performed by them are philanthropic in nature. The liability of paying taxes depend on2

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