(solved) Business and the Business Environment - Assignment
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Added on 2020-01-28
(solved) Business and the Business Environment - Assignment
Added on 2020-01-28
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BUSINESS AND THE BUSINESSENVIRONMENT
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P4 Positive and negative impacts of the macro environment upon business operation.........3P5 Internal and external analysis to identify strength and weakness of the organisation......5P6 Interrelation of strengths and weaknesses with external macro factors............................6TASK 2............................................................................................................................................7M3 PESTEL analysis of macro environment within the organisation...................................7M4 SWOT analysis and influence on decision making.........................................................9TASK 3 .........................................................................................................................................10D2 Evaluating impacts of micro and macro factors on the business objective and decisionmaking..................................................................................................................................10CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
INTRODUCTIONThe business is referred as an organisation, a enterprise or a company which deals inproviding a services or selling goods and commodities to the consumers in the market for someconsideration or not. The business can be owned privately or can be owned by the governmentauthorities. The business is generally done for some of the monetary benefits of the organisationin the terms of profits regarding services provided by them. The some of the business runs fornon profit terms these business generally provide social service without any consideration. Theownership of the business can be sole owner or in partnership(Al-Debei and Avison, 2010). Themanagement of the business depends upon the ownership of the business. The businessenvironment is referred as the internal and external factors which directly or indirectly affect theworking of the business structure, its management, employees, its customers and the supply anddemand. The total of factors which can influence the functioning of the business can be termedas the business environment. The factors include the micro and macro environment whichinfluence the business. The business can be survived in the business world if these factors areeliminated with the help of strategies and measures to escape from negative impacts. In thesereport we will study the factors which effect the working of the businesses. TASK 1P4 Positive and negative impacts of the macro environment upon business operation.In the business world there are many factors which may influence the operation of thebusiness. The factors can be internal or external. The external environment consists of twoenvironment i.e. micro environment and macro environment. The macro environment havecertain factors which may have have positive or negative impact on the business. These macroenvironment factors can be beneficial for the organisation in starting the business in the differentcountry or it may be harmful for the organisation. Some of the factors such as political,economical, social, technical includes under the macro environment(Becker,2017). The impactsof these factors of micro environment are as follows.Political factor:-The political factor of the country directly affect the working and functioningof the business organisation. The political factors include the rules and regulation of the countryregarding start up of the business in that particular country. The political environment varies indifferent countries. Some countries have strict rules and regulations and some has good policy
regarding emergence of the new business. Before expanding the business in the new country thepolitical environment must be analysed as the environment can create some benefits and on otherhand it can cause harm in the functioning of the business. The country china have strong politicalenvironment with the cut throat for the emergence of new business. The political environment ofthe China will influence the functioning of Marks Spencer. The environment will make thenegative impact on the marketing policy of the business(Boons and et.al., 2013). Theenvironment will create negative impact in expansion of the business within the country. Thestronger rules and regulation will make difficulty in establishing the business.Economical environment:-The establishment of the business by Marks Spencer will lead inChina can be affected by the economical environment. The environment can impact positively ornegatively on the functioning of the business. The economic environment of the China is toostrong which have positive impacts on the business. The strong economic condition will help togrow the business easily as the purchasing power of the individuals and group of individuals isgood which will help to increase the demand and supply. As China is fastest country in consumermarket it will help the business to develop the brand in the market which will help to increase theprofitability of the organisation.Social environment:- The social environment of the country is related to the values and belief ofthe society. The choices, tastes and preferences of the every individual comes under the socialenvironment. The social environment basically so not effect the functioning of the business inany terms because to establish the business in China it is important for the firm to works as perthe social belief, values, tastes and preferences of the individuals of the country. The functioningof the business against the social environment will lead to the negative effect on the organisation.The Chinese like the hot drinks like teas and coffee so the Mark Spencer must focus on theselling of hot drinks in the store than the soft drinks which will help to increase the sale of theMarks Spencer store. Technological environment:- The technological trends of the economy helps in the success ofthe company(Brinckmann and Kapsa, 2010). The china is one of the country who uses the highend techniques in the country. The use of these techniques will help the business to grow fasterwith the help of modern techniques. The up gradation of technology will positively effect thefunctioning of the business.
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