The Elements of Business Environment

Added on - Dec 2020

Trusted by 2+ million users,
1000+ happy students everyday
Showing pages 1 to 4 of 16 pages
BUSINESS AND BUSINESS
ENVIRONMENT
TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Different types of organisations and their advantages and disadvantages..................................1
Size, scope, legal structure and objectives..................................................................................3
M1..............................................................................................................................................4
TASK 2............................................................................................................................................4
Relationship between different organisational functions and how they link with organisational
objectives and structure...............................................................................................................4
M2...............................................................................................................................................5
TASK 3............................................................................................................................................6
Positive and negative impact of macro environment on business operations.............................6
M3..............................................................................................................................................8
TASK 4...........................................................................................................................................8
Internal and external environment analysis with strength and weaknesses................................8
How strength and weakness interrelated with macro factors....................................................10
CONCLUSION.............................................................................................................................12
REFERENCES..............................................................................................................................13
INTRODUCTION
Business environment consists of several elements that assist to influence organisational
decisions. There are several aspects such as economic, social, political and technological factors
that influence an enterprise. However, these factors arebeyond the control of an enterprise. It
will aid in identification of capability so that firm will get good policies that increase strengths of
an enterprise. Plan and policies also make sure that threats must be assessed to increase positive
results (McGuigan, Sin and Kern, 2016).
Present report is based on JP Morgan Finance and Investment, which has more than 4,400
offices in all over the world. It is one of the biggest UK leading enterprises, which make
investment. Different types of financial products and services to make values development by
them.
For gaining insight information of the chosen company, present report covers different
typesoforganisationswiththeiradvantagesanddisadvantages.Furthermore,itincludes
relationship with organisational functions and its link with their objectives. Along with this,
positive and negative impacts of environmental operations have been identified to promote
desired results. With the help of internal and external environment analysis, strengths and
weaknesses assessment will be done to focus on attaining success in all business functions.
TASK 1
Different types of organisations and their advantages and disadvantages
With respect to develop successful results, in UK, there are different enterprises work
that belongs to distinguish sector. They all have different aim and objectives for ascertained
positive results(McGuigan, Sin and Kern, 2016). Therefore, they are able to grow in global
market to increase revenue and profitability.
Following are the different types of organisations and their purposes:
Sole trader enterprise: Sole trader enterprise is owned by one person. It consists of one
or more employees and total control of the enterprises by owner only. Main advantage of
this enterprise is that it is cheap and easy to start up sole trade enterprise. Furthermore, it
also considers more profits with setting up desired results. However, there are certain
disadvantages such as unlimited liability so that more finance is required. It is difficult to
1
create long-term finance unless ownership not changes (Advantages and Disadvantages
of Different Business Entities,2018). For instance, Anglia Tax Help that deals in
accountancy services, payroll services etc.
Partnershipenterprise:Partnershipislegalformofanenterprisethatconsiders
operations between two individuals who share their management and profits. In this
consideration, the federal government also recognises different types of partnerships.
Mostcommonandgeneralpartnershipconsiderwithseveraladvantages.Main
advantages of this business is owner receive all profits, few documents needed to make
decisions in enterprise operations. However, there are certain disadvantages also exist
such as owner ability to raise capital that is limited to personal funds from people(Liao,
Yue and Wang, 2018). Social Chain is one of the famous examples of partnership
business in UK.
Private enterprise:Private enterprise consists of importance to develop their profits and
revenue. In this consideration, maximum revenue and profitability will be developing
successfully to make effective work performances. Main advantage is that private firm
can charge price as per their own interest. However, customer believe is less than public
businesses (McGuigan, Sin and Kern, 2016). For instance, Arcadia Group and JP Morgan
Finance and Investment are one of the famous private enterprises of UK.
Public enterprise: Public enterprise mainly deals with customer welfare so that they
determine their functions and operations to make security for them. Main advantage of
public enterprise is that they can easily charge low prices and provide facilities such as
education, health, etc. However, there are certain disadvantages such as government must
loss due to lead higher taxation. For instance, Cabinet office is public sector enterprise.
Voluntary enterprise:Voluntary enterprise considers their operations and functions as
surrounding management and operations systems that were not working. Main advantage
is that direct control is remain and lower cost requires set up (McGuigan, Sin and Kern,
2016). However, there are certain disadvantages such as no investigation conduct by
directors. This type of business deal in third sector that is tertiary.
2
Desklib Logo
You are reading a preview
Upload your documents to download or

Become a Desklib member to get access