External and Internal Environment: Impact on Marks and Spencer

External and internal environment
Marks and SpencerExternal and internal environment
Marks and SpencerIntroduction
Businesses are impacted by internal and external factors. Internal factors are those that exist within the organization and are in control of it.
External factors comprise of situations which not under control of the business.
Introduction
Businesses are impacted by internal and external factors. Internal factors are those that exist within the organization and are in control of it.
External factors comprise of situations which not under control of the business.Internal factors affecting business
Following are the internal factors affecting Marks and Spencer:
•Human resources: Employees can become a strength as well as the
weakness of an organization. Possessing talented, skilled and qualified
work force impacts the ability of Marks and Spencer in a positive manner.
•Organization structure: This impacts the organization as it
encompasses a system that leads to smooth flow of work within the
organization. Effective organization structure at Marks and Spenser
affects the business as it helps in proper and timely flow if information.
•Plans and policies: efficient plans and policies at Marks and Spencer
lead to employee satisfaction and also motivate them. They are also
responsible for smooth flow of work within the company. In this way, these
constitute an important internal factor that impacts the business
(Akhmetshin, E. and et.al., 2017).
Internal factors affecting business
Following are the internal factors affecting Marks and Spencer:
•Human resources: Employees can become a strength as well as the
weakness of an organization. Possessing talented, skilled and qualified
work force impacts the ability of Marks and Spencer in a positive manner.
•Organization structure: This impacts the organization as it
encompasses a system that leads to smooth flow of work within the
organization. Effective organization structure at Marks and Spenser
affects the business as it helps in proper and timely flow if information.
•Plans and policies: efficient plans and policies at Marks and Spencer
lead to employee satisfaction and also motivate them. They are also
responsible for smooth flow of work within the company. In this way, these
constitute an important internal factor that impacts the business
(Akhmetshin, E. and et.al., 2017).External factors impacting business
These have significant impact on the decisions of the business.
•Political factors: Marks and Spencer is affected by the political conditions of
the country in which it operates. If the laws related to the number and types of
imported of goods change, then it will significantly impact the business
(Kidyaeva, 2020).
•Economic conditions: The businesses such as Marks and Spencer are
affected by the economic conditions of the country in which they operate.
These include the trends of disposable income, employment rate, interest
rates etc. greater disposable income will make the consumers purchase
increased number of goods thus leading to an increase in the sales of the
business.
•Legal factors: The various laws that govern the industry in which a business
operates are crucial aspects which affect it. Marks and Spenser has to abide
by the rules and regulations on the country in which they are carrying out their
operations.
External factors impacting business
These have significant impact on the decisions of the business.
•Political factors: Marks and Spencer is affected by the political conditions of
the country in which it operates. If the laws related to the number and types of
imported of goods change, then it will significantly impact the business
(Kidyaeva, 2020).
•Economic conditions: The businesses such as Marks and Spencer are
affected by the economic conditions of the country in which they operate.
These include the trends of disposable income, employment rate, interest
rates etc. greater disposable income will make the consumers purchase
increased number of goods thus leading to an increase in the sales of the
business.
•Legal factors: The various laws that govern the industry in which a business
operates are crucial aspects which affect it. Marks and Spenser has to abide
by the rules and regulations on the country in which they are carrying out their
operations.Ways in which Marks and Spenser affect on external environment
There are a number of ways in which the organizations impact on the external environment. There
exists a reciprocate nature of relationship between the organization and its external environment.
The external environment is influenced by the products and services of business.
•Impact on Environment: The environment is affected by businesses through various activities
such as product transportation, electricity use and industrial operations. The impact of these
processes on environment is harmful as they lead to increased consumption of natural resources.
•Impact on market: International organizations impact the external environment by providing trade
opportunities and possibilities for stronger relationships. These also provide security to various
aspects of the external business environment.
Ways in which Marks and Spenser affect on external environment
There are a number of ways in which the organizations impact on the external environment. There
exists a reciprocate nature of relationship between the organization and its external environment.
The external environment is influenced by the products and services of business.
•Impact on Environment: The environment is affected by businesses through various activities
such as product transportation, electricity use and industrial operations. The impact of these
processes on environment is harmful as they lead to increased consumption of natural resources.
•Impact on market: International organizations impact the external environment by providing trade
opportunities and possibilities for stronger relationships. These also provide security to various
aspects of the external business environment.Ways in which Marks and Spenser affect on external environment
Development of the economy: the business impacts external environment by leading to a
boost in the economy. New jobs are created due to the expansion of existing businesses and
starting up of new businesses. By provision of jobs, businesses such as Marks and Spenser
empower people to make more money. The businesses lead to a growth in the economy
through investment. By keeping large profit margins, the businesses work to encourage
investments (Cepel and et.al., 2019).
Impact on society: Businesses impact on societal values through various functions such as
targeted public relation strategies, marketing and advertising. Businesses such as Marks and
Spencer positively impacts society by providing valuable goods and services. They also
contribute to the growth and stability of the nation. The businesses also impact society by raising
awareness of people about various aspects that demand urgent attention and solution. These
may include aspects such as child rights, environment protection and protection of vulnerable
groups of people through advertising strategies. Further, the corporate social responsibility
initiatives of the organizations help in development of the society in which they operate.
Ways in which Marks and Spenser affect on external environment
Development of the economy: the business impacts external environment by leading to a
boost in the economy. New jobs are created due to the expansion of existing businesses and
starting up of new businesses. By provision of jobs, businesses such as Marks and Spenser
empower people to make more money. The businesses lead to a growth in the economy
through investment. By keeping large profit margins, the businesses work to encourage
investments (Cepel and et.al., 2019).
Impact on society: Businesses impact on societal values through various functions such as
targeted public relation strategies, marketing and advertising. Businesses such as Marks and
Spencer positively impacts society by providing valuable goods and services. They also
contribute to the growth and stability of the nation. The businesses also impact society by raising
awareness of people about various aspects that demand urgent attention and solution. These
may include aspects such as child rights, environment protection and protection of vulnerable
groups of people through advertising strategies. Further, the corporate social responsibility
initiatives of the organizations help in development of the society in which they operate.External factors impacting business
Cultural and social factors: The actors
such as buying behavior of consumers
and various other social trends have
impact on the functioning of businesses
(Qiao, 2020). The attitudes, wants,
beliefs and desires of consumers shape
the decisions that Marks and Spenser
takes at various fronts. For example,
increased use of gadgets such as tablets
and phones for purchasing goods is an
important aspect that the businesses
consider. They thus make their products
available online so that consumers can
make a purchase according to their
convenience.
Technological advancements: The
advances made in the field of technology
affect the business. Marks and Spencer
will be impacted by the technological
advances made in the process of
sourcing and supply of goods.
Technological advances compel the
businesses to reinvent their technology in
order to reach customers and deliver
products and services in a better way.
External factors impacting business
Cultural and social factors: The actors
such as buying behavior of consumers
and various other social trends have
impact on the functioning of businesses
(Qiao, 2020). The attitudes, wants,
beliefs and desires of consumers shape
the decisions that Marks and Spenser
takes at various fronts. For example,
increased use of gadgets such as tablets
and phones for purchasing goods is an
important aspect that the businesses
consider. They thus make their products
available online so that consumers can
make a purchase according to their
convenience.
Technological advancements: The
advances made in the field of technology
affect the business. Marks and Spencer
will be impacted by the technological
advances made in the process of
sourcing and supply of goods.
Technological advances compel the
businesses to reinvent their technology in
order to reach customers and deliver
products and services in a better way.References
Cepel, M. and et.al., 2019. Selected economic factors of the quality of business environment. Journal of International Studies.
Akhmetshin, E. and et.al., 2017. Analysis of innovation activity of enterprises in modern business environment. J. Advanced Res. L. & Econ., 8, p.2311.
Qiao, Y., 2020. The Impact of External Business Environment on Corporate Social Responsibility: Theoretical Implications and Empirical
Evidence. Theoretical Economics Letters, 10(3), pp.500-522.
Kidyaeva, A.U., 2020. Sustainable development and growth of companies amid uncertainty in the external business environment. Entrepreneur Guide.
Jacková, A., 2019. THE IMPORTANCE OF ANALYSIS OF EXTERNAL BUSINESS ENVIRONMENT FOR ITS EFFECTIVE MANAGEMENT. CER
Comparative European Research 2019.
References
Cepel, M. and et.al., 2019. Selected economic factors of the quality of business environment. Journal of International Studies.
Akhmetshin, E. and et.al., 2017. Analysis of innovation activity of enterprises in modern business environment. J. Advanced Res. L. & Econ., 8, p.2311.
Qiao, Y., 2020. The Impact of External Business Environment on Corporate Social Responsibility: Theoretical Implications and Empirical
Evidence. Theoretical Economics Letters, 10(3), pp.500-522.
Kidyaeva, A.U., 2020. Sustainable development and growth of companies amid uncertainty in the external business environment. Entrepreneur Guide.
Jacková, A., 2019. THE IMPORTANCE OF ANALYSIS OF EXTERNAL BUSINESS ENVIRONMENT FOR ITS EFFECTIVE MANAGEMENT. CER
Comparative European Research 2019.
Conclusion
The internal and external factors of environment the functioning as well as decision making of business. The organizations also have an impact on the
external environment in the form of increased jobs, economic growth and development of the society.