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Positive and Negative Impact of Macro Environment
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Added on 2020-07-22
Positive and Negative Impact of Macro Environment
Added on 2020-07-22
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BUSINESS AND THEBUSINESS ENVIRONMENT
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 & P2...................................................................................................................................1TASK 2............................................................................................................................................1P3) Relationship among organisational functions and their structure....................................1TASK 3............................................................................................................................................3P4) Positive and negative impact of macro environment.......................................................3TASK 4............................................................................................................................................5P5) Internal and external analysis of organisations................................................................5P6) Evaluating strengths and weaknesses interrelate with external macro factors................6CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................1
INTRODUCTIONBusiness environment comprises on internal and external factors which are responsible inorder to achieve growth and profitability for business. Every business is following organisationalstructures which are helpful for them in order to assign roles and responsibilities to theiremployees.(Agarwal, Grassl and Pahl, 2012). The factors operating in environment includescompetitors, suppliers, clients etc. and they are greatly affecting growth and supply of business.Tesco is a retail organisation having their operations in all around the UK that is chosen for thepresent study. This report is based on types and sizes of organisation, interrelationship amongvarious functions at workplace as well as positive and negative impact of macro environment onbusiness with assessing internal strengths and weaknesses of business.TASK 1P1 & P2Covered in PPTP3) Interrelation of organisational functions with their structure and objectivesBusiness is mainly having the responsibility to perform different operations likemarketing, sales, distribution, sales and research and development activities. The firms areperforming their operations according to their departments and this should be effective in orderto achieve best and effective results. The structure of organisation determines roles andresponsibilities that will be allocated to their workers in order to make their work to achieve alltheir targets in desired time frames (Aterido Hallward-Driemeier and Pagés, 2011). This isbeneficial in achieving growth and development for business. Tesco functions are linked with itsorganisational structures. The relation among structure and functions of firms are evaluated as:Matrix structure: These are flexible methods adopted by firm in order to make theemployees understand how they have to execute working in order to achieve good results. In thisstructure workers are given responsibilities according to their functional departments and if thereis any modifications in work process then they are provided training so they will not face anydifficulty. In this matrix all the functional areas are related with each other in order to ensuresmooth functioning. This is valuable in reducing burden from single department as all areworking in order to achieve higher proficiency and growth rates in economy. 1
(Source: Organisational structure of TESCO, 2017)TESCO is following organisational structures and there goals and objectives are interrelated witheach other. Thus they are able to carry out all there activities in planned and effective ways.Marketing and sales: This is an vital function for all business as it helps in promotinggoods and creating awareness so that customer will purchase their grocery products. This helpsin increasing growth and productivity of business. Marketing activities are useful in establishinggood brand images in eyes of customers in order to increase their sales and profitability ratios.Human resource management: This is an vital function as it recruit employees who canincrease their working productivity. They have the responsibility to recruit potential employeesand provide them training so they will execute work accordingly in order to achieve theirtargets. They are working at all levels in order to establish coordination among all employees atwork in order to ensure smooth working areas. They have to develop plans in order to achievesustainable competitive advantages at work place. Finance: The main responsibilities of these firms are related with managing flow ofmoney at work places in order to execute all their working in planned ways. They had to stocksufficient amount of money in order to carry out activities like promotional campaigns etc. Theyare keeping record of money which is flowing through various activities thus making plans toexpand their business operations. They are making strategies in order to give timely payments toall employees who are working.Divisional structure: TESCO is following divisional matrix structures as there are variousoutlets which are opened all around the world. They are providing services to all people all2Illustration 1: Organisational Structure of TESCO
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