Introduction to Business Studies

Introduction to Business
Studies

TABLE OF CONTENTS
 INTRODUCTION
 Understanding collaborative working practices
 Environmental factors affecting businesses
 CONCLUSION
 REFERENCES

INTRODUCTION
 Business studies is an academic subject which combines the
elements of marketing, finance, accounting, organizational
studies and economics.
 In this report, M&S is taken, which is a multinational retailer in
UK, selling wide variety of products.
 This report covers roles of marketing, HR and finance in an
organization, environmental factors and role of financial
management and reporting in an organization.

Understanding collaborative working
practices
Working in groups or teams enables employees to be quicker and efficient as compared to
the people who work on the projects on their own. Collaboration makes employees more
responsible and motivates them to perform better and effective. Some advantages are stated
below.
 Increases creativity: Innovation is the greatest advantage of collaborative working by
bringing together people and engaging in tasks that requires brain storming. In M&S,
employees always works in a team with contrasting skills which blend together to solve
problems in an innovative way.