Business & the Business Environment - Halifax Bank

BUSINESS & THE
BUSINESS ENVIRONMENT

TABLE OF CONTENTS
INTRODUCTION..........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Different types and purposes of organization; public, private and voluntary sectors
and legal structures .............................................................................................................1
P2 Size and scope of a range of different types of organization:......................................3
TASK 2............................................................................................................................................4
P3 Relationship between different organizational function and their objectives and
functions:...............................................................................................................................4
TASK 3............................................................................................................................................6
P4 positive and negative impact of macro environment...................................................6
TASK 4............................................................................................................................................7
P5 Internal and external analysis of business:...................................................................7
P6 Strength and weakness linked with external macro factors:......................................9
CONCLUSION............................................................................................................................10
REFERENCES.............................................................................................................................11

INTRODUCTION
Business environment is considered as the surroundings and the internal and external
factors that influence the business. It also consists of various factors which provided impact and
alternations in business accordingly. Managers in organization are responsible to analyse these
factors in order to make effective decisions for accomplishment of organizational objectives. The
factors involve employees, shareholders, clients, government, supply, demand, law and the other
which provided impacts on decisions of business (Hilton and Platt, 2014). Present report is based
on analysis of Halifax Bank which is one of the leading and most respected banks in UK. It is
private limited bank that provided various services which involves commercial, investment and
market personal as well as financial services and other financial services. As a client manager of
Halifax bank, there are various kinds and purposes of organization have been discussed along
with their size and scope as well as legal structure. Further, essential relationship between the
different organizational functions and ways through which they link to organizational objectives
and structure are also determined. In addition to this, some positive and negative impacts of
macro environment on business operations have been identified. At last, internal and external
analysis of Halifax bank is also accomplished in order to identify the strengths and weaknesses.
TASK 1
P1 Different types and purposes of organization; public, private and voluntary sectors and legal
structures
Business is termed as converted process of basic skills and the materials as per the
request of customers or which deliver service as per the needs of consumers. Business
environment also contains different factors like customers, government, suppliers, competitors,
local communities and distributors etc. Global business enterprise like Halifax Bank should also
seek to gain their competitive advantage by providing commercial, investment and personal
banking services as well as marketing strategy (Hillary, 2017). It has been considered that
business prospective of business of banks have been affected by several factors such as
government intervention and change in technology. Further customers are identified as vital for
survival of business enterprise and its prosperity. In this context, as a client manager of Halifax
Bank, there are various kinds of organizations are analysed which can be their customers and
take financial services provided by them. They also provide financial resource's organization for
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regulation of their business operations. Different types and purposes of organization are
mentioned below:
 Sole trader: A sole business structure is analysed as personal which is trading as the
individual who is legally responsible for all the important aspects of business (Sole
trader, 2017). This business involves any debts and losses which will not be shared with
the others
Purposes: the main purpose behind establishment of sole proprietorships is to maximize
profitability and increase brand recognition in market.
 Partnership: Business enterprise which is established by two or more person by sharing
a specific amount of capital as investment and also share profits as per decided ratio. It is
also considered as formals arrangement under which two or more organization or
individuals cooperate with each other to manage and regulate a business (Kew and
Stredwick, 2017).
Purposes: The main purpose behind establishment of partner’s business enterprise is to
earn profitability and fulfilment of requirement of customers in market. Partners these
organization aims to achieved high return on investments. It is considered as effective because it
contains limited liability. Private sector: It implies to organizational structure in which ownerships and
management of business is controlled by private individuals. These ventures are
developed by individuals or organization a small or international level on the basis of
personal investment and financial institution (Cai and Yang, 2014). They are not able to
provide or issue their shares and securities in market for getting investments. For
example; Sainsbury is private sector retail business which is developed to maximize
profitability. Halifax Bank is also private organization which provides its financial and
banking services to its customers.
Purposes: Main objectives of these enterprises are to maximize profitability and
providing new and innovative products in market to achieve recognition from customers.
There are different types of private organizations such as sole traders, partnership,
limited company, cooperatives. Public sector: It has been observed that economy of public sector in UK has been
directly controlled by government. Business operations are regulated by different kinds of
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