Environmental Factors and Business Operations

This assignment examines the influence of environmental factors on business operations in both private and public sectors. It highlights the importance of evaluating these factors for effective conduct and process management. The report emphasizes the need to provide customers with satisfactory services for long-term retention.

HOW BUSINESS
OPERATES

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Covered in PPT..........................................................................................................................1
TASK 2............................................................................................................................................1
2.1 Importance of accounting for business success....................................................................1
5.1 Functions of HR department................................................................................................1
5.2 Key features of employee legislation....................................................................................2
TASK 3............................................................................................................................................2
3.1 Accounting workshop...........................................................................................................2
TASK 4............................................................................................................................................3
4.1 An analysis on determination of roles of team members......................................................3
4.2 Team Development...............................................................................................................3
4.3 Need of leadership and motivational style in context with different situations....................4
4.4 The way leadership style and motivational skills are used to influence workers.................4
TASK 5............................................................................................................................................5
Covered in PPT...........................................................................................................................5
CONCLUSION ..........................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Business environment can be stated as process in which there are various internal and
external factors which has direct impact on the operations of company. There are various kind of
factors which are essential to introduce or innovate so that business can attain growth (Warner,
2018). Various factors are human resource, finance, raw materials and more. Company which is
taken is Walmart which deals in retail sector industry. This mainly describes the the companies
which are working in private and public sector. There is the impact of the customer along with
team work on the business success which will be highlighted within report. Accounting
necessity will also be discussed along with HR functions within this report.
TASK 1
Covered in PPT
TASK 2
2.1 Importance of accounting for business success
For maintaining a business appropriately, an organization needs to get ready information
about resources, covers exchanges, obligations, liabilities and the sky is the limit from there. This
would help in breaking down whether businesses have picked up benefit or misfortune toward
the finish of a period. Every one of these procedures are finished by accounts branch of an
association (Doppelt, 2017). People related in this area do these exercises which are useful for
the administration in basic leadership. The primary motivation behind bookkeepers in
organizations are to get ready record of budgetary exchanges in methodical request. This would
help relationship to discover their situation of business. In Walmart Organization, accounts
division helps in recognizing and estimating the monetary data which helps in breaking down
extent of value and obligation in a precise way. Alongside this, it help associations in assessing
execution of business, influencing spending plan and in addition overseeing and checking the
money to stream.
5.1 Functions of HR department
Crucial role is being played by the Human Resource sector which in turn define the
structure and thus manages the whole business function. There are many of the people which are
being attached with abilities of completing the work by improving the productivity for meeting

up the demand in desired way. Below described are the functions for managing the work in
described manner:
Compensation and Benefit: There are number of motivational factors which can be
provided like rewards and compensation by the HR managers so that company can attain growth
and success (Palattella and et. al., 2016). This will mainly help in making staff feel much more
motivated and dedicated and thus this can mainly assist in getting retention for long tenure.
Training and Development: This kind of factor is highly essential for a company as there
are certain needs of polishing skills of existing and new employees on regular basis. This will
help in bringing sustainability within workplace.
Recruitment and Selection: This can be stated as one of the most essential function of
manager which are being utilised for recruitment process within the Walmart company for
fulfilling vacancies (Adjei and et. al., 2014).
5.2 Key features of employee legislation
There are numerous laws and legislations which are being formulated by the Govt. of UK
for giving out safety to the employees in effective manner. Major motive of these kind of
legislation is to remove the discrimination done on basis of gender, race, caste or religion (Omar,
Leach and March, 2014). There are various kind of features which are mainly involved within
this kind of segment which mainly secure the workers safety and thus look out for the wages
which are being given. Hence, there are some of the regulatory bodies who has established laws
like Employment Act, Sex discrimination and many more.
TASK 3
3.1 Accounting workshop
P&L Account for Walmart for the year 2017 are given below:
Income Statement
All numbers in thousands
Revenue 1/31/2017
Total Revenue 485873000
Gross Profit 124617000
Cost of Revenue 361256000

Operating Expenses
Research Development -
Selling General and Administrative 101853000
Operating Income or Loss 22764000
Income from Continuing Operations
Total Other Income/Expenses Net 100000
Interest Expense 2367000
Earnings Before Interest and Taxes 22864000
Income Before Tax 20497000
Income Tax Expense 6204000
Minority Interest 2737000
Net Income 13643000
Dividend charges -
Net Income Applicable To Common
Shares 13643000
TASK 4
4.1 An analysis on determination of roles of team members
There are various kind of benefits which are being availed an individual like weaknesses
presents are being minimised by sharing. This mainly provide help people in attaining work in
effective manner in short period of time. There are various kind of skills and abilities which can
be enhanced so that certain aims and objectives in proper way. Being the part of the team, there
are many kind of benefits which I have availed in certain tenure like commitment towards the
work along with high level of satisfaction in integrated manner (Petro and Gardiner, 2015).
There are certain abilities also which I have gained. Moreover, I have mainly observed from the

aspect of authority that within workplace, team work helps in making goals to accomplish. Along
with this, evaluation is being done by the group manager for making the objectives clear and thus
adopt the proper leadership in order to gain commitment of every kind of team member.
4.2 Team Development
It is highly essential for the company like Walmart and for this company, developing
team is an essential task in order go improve production and profit ratios. Below described are
the stages which needs to be understood by the managers:
Forming: This can be stated as a starting stage for the team development which mainly
includes the determination of employees for the attainment of business goals.
Storming: This is the second stage which mainly involves the activity of brainstorm
along with roles and responsibilities for the members (Reim, Parida and Örtqvist, 2015).
Norming: In this kind of stage, there are the group people who have started learning
regarding bringing innovative ideas along with solutions and collaborating it with others.
Moreover, this in turn can mainly improve the relations by reducing the conflicts in better way.
Performing: When the group activities happens, there is the stage which can be
understood the part role in common tasks.
When these kind of stages are being performed, group leader is being needed for having
some kind of skills in order to bring motivation (Amit and Zott, 2015). Within Walmart
company, there are some kind of theories for motivation like Maslow's needs Hierarchy,
Herzberg's two-factor and Alderfer's ERG Theory. These kind of theories will help out in for
discovering the employee's needs and thus providing high level of satisfaction.
4.3 Need of leadership and motivational style in context with different situations
There are some kind of motivational factors which needs to be bough within an
organisation so that various kind of ongoing modifications can be dealt with. There are issues
within company which has arise from regular operations along with some kind of barriers.
Hence, managers needs to bring motivational factors along with acceptance for changes
(Dijkman and et. al., 2015). Each and every kind of individual whom level of performance can
be judge by leadership skills. This in turn will help out in innovating techniques so that
minimising of weaknesses can be done effectively.

4.4 The way leadership style and motivational skills are used to influence workers
There are number of issues within the Walmart company on the regular basis within
workplace. Hence, for creating solution it is being needed to adopt skills related to motivation
and leadership. This in turn will help in bringing motivation within workers. Example can be
taken up of companies who has introduced latest innovative technology within the process and
thus by the help of Maslow theories which in turn can mainly influence for the objectives
(Goldratt, 2017). Along with this, motivation can be given for being flexible for modifications
adoption when resistivity of employees are being raised.
TASK 5
Covered in PPT
CONCLUSION
From the above report, it has been concluded that there are some of the environmental
factors which needs to be evaluated so that business can be operated in both private and public
sector. This in turn will help out in conduction of operations along with process. Moreover, in
this report it has been evaluated that customers should get effectual services in order to retain
them for long period of time.

REFERENCES
Books and Journals
Warner, K., 2018. Building rules: How local controls shape community environments and
economies. Routledge.
Doppelt, B., 2017. Leading change toward sustainability: A change-management guide for
business, government and civil society. Routledge.
Palattella, M. R., and et. al., 2016. Internet of things in the 5G era: Enablers, architecture, and
business models. IEEE Journal on Selected Areas in Communications. 34(3). pp.510-
527.
Adjei, H., and et. al., 2014. Assessing the Corporate Social Responsibility Activities of Atwima
Kwawoman Rural Bank Limited and its Impact on the Communities it Operates.
European Journal of Business and Innovation Research. 2(4). pp.36-47.
Omar, A.T., Leach, D. and March, J., 2014. Collaboration between nonprofit and business
sectors: A framework to guide strategy development for nonprofit organizations.
VOLUNTAS: International Journal of Voluntary and Nonprofit Organizations. 25(3).
pp.657-678.
Petro, Y. and Gardiner, P., 2015. An investigation of the influence of organizational design on
project portfolio success, effectiveness and business efficiency for project-based
organizations. International Journal of Project Management. 33(8). pp.1717-1729.
Reim, W., Parida, V. and Örtqvist, D., 2015. Product–Service Systems (PSS) business models
and tactics–a systematic literature review. Journal of Cleaner Production. 97. pp.61-75.
Amit, R. and Zott, C., 2015. Crafting business architecture: The antecedents of business model
design. Strategic Entrepreneurship Journal. 9(4). pp.331-350.
Dijkman, R.M., and et. al., 2015. Business models for the Internet of Things.International
Journal of Information Management. 35(6). pp.672-678.
Goldratt, E.M., 2017.Necessary but not sufficient: a theory of constraints business novel.
Routledge.