Business Environment Assignment (Solved) - Marks and Spencer
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Added on 2020-10-22
Business Environment Assignment (Solved) - Marks and Spencer
Added on 2020-10-22
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Business Environment
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Covered in PPT.......................................................................................................................1TASK 2............................................................................................................................................1P3 Relationship between different organisational functions and its link with organisationobjectives ...............................................................................................................................1TASK 3 ...........................................................................................................................................3P4 Positive and negative impact of Macro environment on Business operations..................3TASK 4............................................................................................................................................5P5 Internal and External analysis of Marks and Spencer.......................................................5P6 Interrelation of Strength and weakness with external Macro factors................................7CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................9
INTRODUCTIONBusiness environment can be defined as the sum of entire intrinsic and extrinsiccomponents which directly and indirectly affect outcome of different undertaken procedure.This is essential for carry out proper evaluation of different factors and surroundings oforganisation in which they operate to monitor and sustain within the competitive businessenvironment. Function of business within entire gambit of authentic environment as well as needto negotiate in the manner by it. This is fundamental for each and every organisation to undertakemajor determinants of business to function proper activities such as partners, consumer,employees etc. The whole practices support assistance in gaining competitive businessenvironment along with the competitive edge of company increasing overall revenues ofenterprise (Agarwal, Grassl and Pahl, 2012). Report will evaluate different environmentalinfluences and aspects of Marks and Spencer which is one of the largest luxury food chain andsupermarket of United Kingdom that is dealing in numerous segments of global marketeffectively. This assignment will evaluate the scope, size and nature of different enterprise typesalong with interrelation of different functions of firm with objectives of company. With this, itwill also light over different external and internal environment and interlink between all of them. TASK 1Covered in PPTTASK 2P3 Relationship between different organisational functions and its link with organisationobjectivesIt is significant for each and every organisation to set their aims and objectivesaccordingly in regard of attaining proper business vision of enterprise. So, this is fundamental foran enterprise to design their structure of enterprise in regard of setting authentic target orobjectives easily attainable. Since, M&S is performing their business on global market withinmore than 85000 employee group. This is also known as MNC i.e. dealing in numerous segmentssuch as luxury items, food products etc (Aterido, Hallward-Driemeier and Pagés, 2011). Numerous functions are carried out by Marks and Spencer such as sales and marketing,research and development, human resource management division, finance and accounting etc.Entire functions assist in accomplishing business objectives through operating altogether in1
significant manner. So, this organisational structure are interlink with the function of companywhich is complied in M&S are discussed here: Marketing division: This is one of the fundamental function i.e. managed by organisationlike M&S to sell their services and products and create awareness among the consumer. Thisdivision deliver the information and disseminate the message of organisation to the consumercreating a communication bridge among both of them. Hence, this is associated with severalother division that can assist the enterprise in attaining competitive edge of firm creating moresustainability within marketplace (Auzair, 2011). Human Resource Division: This function is generally performed through Marks andSpencer as it has employed extensive worker group. This create different influence onorganisation by managing and satiating employees demands and requirements leading to betterperformance and productivity of enterprise. Hence, HRM practices can assists the enterprise inconducting planned programs in regard of achieving business objectives. Operations and Production: It is a sort of functions of Marks and Spencer which isemployed by organisation to produce commodities and manage the activities accordingly on thebasic level. This create more coherent connection in the company's structure which aid inproducing the determined plan. M&S is also delivering product manufacture after evaluating themarket so that services can be produced with best quality of operations. M&S is alsomanufacturing their service which are being manufactured at the initial stage. This is creating acoherent link with the organisational structure as this can manufacture products according to theplan. Henceforth, enterprise can achieve their business objectives through creating value addedproducts and gaining optimum outcome of operations (Avramenko, 2012). Finance and Accounting: It is a sort of function i.e. creating their connection with thefinancial transaction i.e. incurring in the organisation on the regular basis. These divisions whoare aligning funds to distinct division of organisation need to carry out practices in moredisciplined manner. Hence, through optimum financial asset uses, conducting proper survey,asset creation, enterprise can reach to their set business objectives and outcome in moresignificant manner. Research & Development: It is one of most paramount department which are essentialfor the company as this aid in understanding the consumer demands and outlines differentaspects of market environment of Marks and Spencer to perform well and best. As M&S is one2
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