Business Environment Assignment | Merrill Lynch Investment

Programme Title BTEC Pearson L4 in Business
Unit Number and Title Unit 1-Business and Business Environment
Targeted Learning
outcomes
LO1, LO2, LO3 and LO4
Referred Pass Merit Distincti
on
Unit Final Grade
Learning Outcomes Feedback Grades
awarde
d
LO 1
LO 2
LO 3
LO 4
Guidance for improvement / Action Plan / General comments
Date assignment marked:__________________________

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1 ...........................................................................................................................................1
P1 Types of organisation and its purpose ..............................................................................1
P2 Different kinds of establishment's scope, size, objective ...............................................3
TASK 2............................................................................................................................................5
P3 Interconnectivity between business function and its link with company structure ..........5
..........................................................................................................................................................8
TASK 3............................................................................................................................................9
P4 Implication of PESTLE to examine external factor .........................................................9
TASK 4..........................................................................................................................................12
P5 Application of SWOT analysis to analyse internal environment ...................................12
P6 Relatedness of strength and weakness with macro factors ............................................14
CONCLUSION .............................................................................................................................15
REFERNCES ................................................................................................................................16
.......................................................................................................................................................18

INTRODUCTION
An organisation contains its own surrounding or atmosphere in which it operates its
purpose or aim in order to accomplish their pre determined goal in an effective and efficient
manner within prescribed time limit. Moreover, business environment signifies that it is a
combination of internal and external factors which has direct influence over company's
potentiality to attain its desired productivity and profitability ratio. Along with this, there are
several types of organisation like private, public, voluntary and so on in which each of them
contains its own roles and regulations for achieving its objective in a better way without any
hindrances. Furthermore, an establishment is formed with different department and that is
interlinked with each other that lead company to obtain profit maximisation with an optimal
utilisation of resources (Aithal, 2016). Under this report, Merrill Lynch Investment company has
been considered ,which is one the fastest growing firm in UK and it is introduced in the year of
1914. It operates into financial services and serves its operation across the globe. Moreover, in
this document, it comprises different kinds of organisation and explains its size, scope, purpose,
legal structure. Furthermore, relationship between various departments, application of suitable
theories or concepts to determine business environment. Finally, analyse positive and negative
impact of external macro factors is also mentioned here.
TASK 1
P1 Types of organisation and its purpose
Enterprise and organisations refers to a firm under which businesspersons operate and run their
business with various purposes like earning profit, creating job opportunities, social growth and
others. There are various types of organisations, they are as following:
Public
It indicates to those firms and organisations under which government operating and
running their business. On the other-hand, it can be those firms whose business activities and
operations are managed, operated and controlled by the national authorities (Bah and Fang,
2015). BBC is a UK's largest and reputed public service broadcaster which was incorporated in
the year of 1922.
Purpose- The foremost purpose of public organisation is to enhance the life standard of
community and society rather than making centring on generating profit. However, in relation to
1

BBC, its main aim is to render or communicate the impartial information to people in order to
create awareness and enhancing their knowledge potentiality in an innovative and creative
manner.
Legal structure-
Central government- It refers to those national authorise which have power to regulate
the entire functioning of the nation. They get fund in the from of tax which is collected from the
people of the nation (Vinichenko and et.al., 2016).
State government- It controlled by central government and work according their
guidance. It countenance after the publicity of the economic system of the administrative
division.
Local government-These kind of legal framework of national authorities acts according
to legislations and higher government.
Private
It indicates to those firms which are running and operated by individuals but not
controlled and monitored by government. These kind of companies are operated to fulfil the
needs and demands of customers and earning profits. Merrill Lynch Investment is a private
organisation which was founded in 1914 and operated its business in New York, US.
Purpose- The major purpose of private enterprises are to earn profit, making expansion in their
business and produce goods and services according to their customer's needs (Bashir and Verma,
2017). The purpose of Merrill Lynch Investment is to design risk allocation structure for goal
oriented investing strategies.
Legal structure-
Sole proprietorship- These kind of business are run and operated by a single entity which
is not an incorporated body. The owner is answerable for all the business actions, operations,
activities and liabilities etc.
Partnership- In these kind of business, there are two people involved. This kind of
business are not incorporated body and have a isolate legal entity.
Limited company- it consist private firms which consider limited liabilities and basically
occupied in medium or small size businesses.
Voluntary- It refers to those firms which operated their business for social development. They
run they business with a group of individuals who enter into an agreement, usually as volunteers.
2

Small Charities Coalition is a voluntary firm which is also known as non profit organisation and
it was founded in 2008.
Purpose- The main objective of voluntarily organisations are to work for improving the society,
make development in the living standard of people and providing employment to local people
etc. The purpose of Small Charities Coalition is to provide relevant support to needed individuals
and make their voice heard.
Legal structure-
Trust- It include trustees who provide fund for the welfare of the firm. It is a separate
legal entity which is not focus on earning profit and work for social development.
Unincorporated association- It is a group of people who have common interest and they
work for the social benefits (Peters, Blohm and Leimeister, 2015)
P2 Different kinds of establishment's scope, size, objective
Private – Merrill Lynch
Vision: To develop and foster positive and long lasting relations with consumers along
with making the high quality products accessible to a large base of audience.
Mission: To offer high quality products in market to gain maximum satisfaction from
customers.
Business Objectives: To become the number one firm within the financial service sector
by meeting the needs and preferences of customers, thus adding value to the brand name and
enhancing the market share (Ojala, 2016).
Size: This firm has a staff of 15,100 who give significant contribution towards producing
the products of best quality for gaining competitive advantage in market and ensuring its long
term sustainability. There are number of offerings by the Merrill Lynch such as finance, home,
health, family, leisure, giving and work as given in the diagram.
3

Scope: This organisation has a scope to gain access to investment management services
with a total of its 2500 outlets.
Public: BBC
Vision: The vision of the BBC is to “generate a world where there will no possibility of
arising misconception or unbiased information which enrich the knowledge ratio of each and
every individual of society. (Belás and et.al., 2014).
Mission: BBC key mission is to serve the public by providing impartial and high quality
output or message which act as information, education and entertainment in a amended manner.
Business objectives: To generate sustainable profitability by 20% in upcoming one year
by optimising available resources in an impressive and efficient way. (Stieninger and Nedbal,
2014).
Size: BBC presently has 35,402 employees who are highly skilled and capable of
acquiring any modification for the benefit of organisation in terms of raising their profit and
productivity.
Scope: BBC has wide range of scope as it operates 10 television network and radio
services as well as huge presence in 46 radio services in an advanced manner. Additionally, they
deliver the services like journalism, broadcasting and corporate roles in order to fain competitive
advantage in a better way.
Voluntary: Small Charities Collection
Vision: Main vision of Small Charities Collection is to promote health and social welfare
to the society along with intention to create awareness for financial saving, home and social
development and enrichment.
Mission: The mission of the Small Charities Collection is to develop social well-being,
financial empowerment to the poor people and spreading social message so as to maintain
decorum into the society (Griffith and Dimitrova, 2014).
Business objectives: Main aim of the Small Charities Collection is to collect fund and
creates channels for the welfare to the people. They act as family culture, helpful to give work
based assistance and assist into medical support for poor children and people.
Size: Small Charities Collection is currently have volunteer amounted to the 12000
people who worked with aim and purpose of the social awareness and promotes people welfare
at the larger scale or size.
4

Scope: The scope of the Small Charities Collection is based on long welfare of the people
along with chain of awareness for people. Almost, they have full-fledged dream is to takes care
of the social development and encouraging society to act be fair.
TASK 2
P3 Interconnectivity between business function and its link with company structure
For accomplishing business goal or objective in an efficacious manner, an establishment
requires proper coordination and cooperation within working culture as it enable them to attain
increased level of productivity and profitability in an efficient way within prescribed time limit.
Hence, to accomplish the task without any hindrances, a structure and chart is required which act
as a guidance and direction to manger in order to gain competitive advantage in a better way.
There are several types of structures which contain its own roles and responsibilities for
achieving pre determined goal. However, some of them are described below:
5

Interpretation: It has been analysed from the above shown diagram that the entire business
process of Merrill Lynch Company is function in hierarchical structure and they delegated their
work into two groups i.e. Merrill Lunch Group. Inc. which is followed by different division such
as Investment, Credit products and Mortgage. The other division is Merrill Lynch Bank & Trust
who manage Credit Corporation USA branch. Hence, with the help of this, Merrill Lynch firm is
enable to function their procedure in a smooth manner as each work is assigned to different
manpower which help them to examine its strength and weakness effectively and can take
corrective course of action to enrich company's productivity.
6

Interpretation: It has been examined from the the above shown diagram that the organisation
operate or function their working procedure in flat structure as it is leading by chairman who
monitor and control various sort of functional area and all of them are obliged to report to their
chairman.
Analysis: From the analysis of both structure, hierarchical structure is considered as best and
effective procedure as it enable very manpower to perform their own task according to the
capability which help them to bring more productivity. On the contrary, flat structure is mainly
centring over generalists rather than specialists which may give rise to decrease in proficiency
ratio of company. Thus, in order to survive within competing marketplace for longer time as well
as to maintain best working culture hierarchical structure helps an organisation to attain the same
in an impressive or productive way.
In a business enterprise, there are several sort of functional areas which perform unique
set of roles and responsibilities and it makes them different from each other. Along with this, its
foremost objective is to accomplish organisational common goal in an effectual or economical
way without any obstacle (Belás and et,. al., 2015). However, in regard of Merrill Lynch
Investment some of its business function which are interconnected with each other are discussed
below:
Human Resource department and Marketing: In Merrill Lynch Investment, both these
functional areas are regarded as integral component as they contribute their best effort towards
an attainment of organisational goal in a better way. However, in order to expand the
productivity ratio of an organisation, its human resource function approach marketing
7

department in terms of strengthening its proficiency ratio. Thus, marketing department makes an
initiative to organise job fare, campus recruitment, online advertisement and many more which
help Merrill Lynch to capture large number of personnel towards their brand and it benefits them
by improving overall performance in an innovative or creative style.
Marketing department and Finance function: Under this aspect, these two functional
areas plays a crucial role which lead them to acquire best positioning among competitive
marketplace (Biloslavo, Bagnoli and Edgar, 2018). However, for promoting their service in an
advances it makes a decision to adopts different kinds of marketing strategies in order to enrich
profitability ratio. Henceforth, finance departments provide sufficient amount of funds to
marketing department which help Merrill Lynch to enlarge its market size or share as well as can
reach all targeted customer in a better manner without any hindrances. Some of the tactics which
they implies is that personnel selling, public relation, sales promotion for maximising the profit
margin level.
8

TASK 3
P4 Implication of PESTLE to examine external factor
In today's scenario of an industry, it has been determined that there is an intense level of
competition between organisation which impact greatly over its proficiency and growth ratio.
However, PESTLE analysis is regarded as a powerful determinant which help an establishment
to evaluate its external business environment and also aid them to make corrective course of
action in order to gain competitive advantage in a improved way (Deasy and et. al., 2016).
Hence, Merrill Lynch Investment takes an effort to imply the same into its business operation
which are as follows:
Political: This factor comprises government policies, rules, regulation, political stability
which impact directly over company's productivity level.
Positive: However, in regard of Merrill Lynch it has undergoes with severe modification because
of introduction of Brexit into UK market and it influence negatively to Merrill Lynch. Hence, in
order to cope with negative issue, Merrill Lynch takes an attempt to make use of available
9

possibility by adopting changes within their internal process. This is the reason, it help them to
improve its overall performance and aid them to maintain their brand value among customers.
Economical: This aspect is relates with economic growth, interest, inflation or deflation
rate and many more which influence organisation decision making potentiality.
Positive: Hence, recently there was a huge level of recession occurred in UK which effect
Merrill Lynch growth and proficiency rate in a drastic manner. Therefore, to tackle with the
same, company makes an effort to decrease the price of product which help them to attract more
new consumer towards their brand as well as to retain its existing population. Due to which, it
enhance Merrill Lynch capability in strengthening its profit margin ratio in the year of 2012 and
also to enrich sales performance with a percentage of 5% among competitors (Epifanova and et.
al., 2015).
Social: It is viewed as important factor which is connected with customer taste and
preference and also with concern volume of sales. In addition to this, there was a huge level of
demand among UK population regarding banking service in terms of ease and convenience.
Positive: Thus, Merrill Lynch make use of available platform and introduce several benefit
scheme in opening account like personal, current and also started providing information about
credit card, investment via online. Due to such activity, Merrill Lynch were able to gain high rate
of customer satisfaction and orientation that enrich its sakes performance within UK industry.
Technological: This component states with advancement, digital techniques, automation ,
latest equipments etc. which effect organisation profit margin rate.
Positive: Hence, in relation to Merrill Lynch, it has been evaluated that wide range of UK
population are preferring modern or innovative technologies that influence firm productivity
level in a negative manner. Henceforth, with the adoption of innovative technologies like
developing mobile app for accounts, transferring fund, pay bills over smartphones enable Merrill
Lynch to overcome on its negative effect in a trenchant manner (Billio and et.al., 2016).
Legal: This factor is related with all legislation, laws, regulations, procedures for
accomplishing business goal or objective in an economical way.
Positive: In regard of Merrill Lynch, it ensures that they adhere to all policies and laws in a
transparent way which help them to reduce the interference of government into their business
function that add value to its brand image.
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Environmental: Under this aspect, it involves pursuing environment friendly product in
order to acquire best position among marketplace as well as to attain customer satisfaction.
Positive: Thus, in UK majority of an individuals were demanding for a measure from bank to
keep atmosphere clean and healthy and it directly effect Merrill Lynch profitability ratio. Thus,
by introducing online service, it help Merrill Lynch to reduce the usage of paper as well as to cut
down the number of consumer footprints to banks. Hence, this activity enhance Merrill Lynch
productivity and profit margin in a better way (Ghatak and et.al., 2016).
Small Charities Collection
Political: This aspect refers to government stability, taxation policies, foreign trade
regulation and so on which has huge impact over company's decision making potentiality.
Positive: However, in regard of Small Charity, there was a major modification took place in
taxation policies because of the implication of Brexit by UK government and that effect
negatively over enterprise proficiency. Hence, Small Charity were benefited by static nature of
UK government as they find less difficulty in altering their entire business process and also to
adopt changes in its working culture in a amended way. Due to which, it improves its overall
performance in an impressive or productive style (Erasmus, Strydom and Rudansky-Kloppers,
2016).
Economical: It involves business cycle, GNP trends, money supply, inflation, disposable
of income etc. that impact organisation capability in acquiring attractive position within an
industry.
Positive: Hence, in relation to Small Charity Coalition, it faced a severe recession in UK
marketplace which becomes a major challenge for organisation in terms of handling
unemployment rate and low disposable income for attaining sustainable profitability rate. Thus,
it Small Charity make use of this opportunity as a growth strategy as they approached wide range
of fund sources in order to maintain employment and income level of individual in an effective
mode.
Social: This component is connects with population demographics, social mobility,
attitude or perception towards work and leisure and many more which effect establishment's
ability top achieve its goal within desired time limit.
Positive: Henceforth, there was a demand among UK population regarding more donation in
order to improve the lifestyle of community as well as to improve the performance of health
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care service sector in a amended manner (Grenier and et.al., 2017). Therefore, Small Charity
Coalition strengthen its connectivity of network which help them to acquire accurate situation of
UK community and based on that empower them to make corrective course of action by
rendering sufficient amount of money to its micro charities. With the help of this activity, it aid
Small Charity to enhance the living condition of society by satisfying their basic amenities or
needs in an efficient way as well as it enlarge its profit margin ratio.
Technological: This element includes automation, innovative technologies, modern
techniques, novel ideas which influence organisation profitability ratio.
Positive: In case of Small Charity Coalition, it undergoes with an intense level of demand from
its clients regarding digital process in dealing with all type of transaction for business operation
that influence negatively over firm decision making ability. Thus, in order to tackle with the
same Small Charity adopts all latest or innovative technologies for transferring funds, reaching
donors as well as designed own page over social platform like Facebook and Twitter that
strengthened its brand value among competitive industry (Evans and et. al., 2017).
Environmental: Under such factor, it encompasses those criteria which is linked with eco
friendly products or service in order to obtain profit maximisation with an optimal utilisation of
resources.
Positive:Thus, in regard of Small Charity it examined the preference or demand of UK
population and created several programmes or camps related to environment awareness for
making the life of an individual healthy and fit. Such activity highlights organisation improved
performance and add value among large number of population.
Legal: Being a reputed and well known firm in UK market, Small Charity Coalition
make sure that it follows or comply with all regulation or rules in an accurate or transparent way.
Due to such action, it help them to decrease an intersession of government within their business
function and enhance its brand value in the presence of rivalry industry (Dysart and et.al., 2016).
TASK 4
P5 Application of SWOT analysis to analyse internal environment
An establishment is a sum total of internal and macro components which influence them
to achieve per determined goal or objective in an impressive and economical way in a decided
time period (Jennings and Van Der Molen, 2015). However, SWOT is one of the important
12

framework that help an organisation to analyse its potentiality or capabilities in order to obtain
sustainable profitability ratio. Therefore, Merrill Lynch and Small Charities Collection makes a
decision of implying the same within their functional areas which are explained below:
Merrill Lynch Investment
Strength
 It is considered as one of the enormous brand value which contain wide range and
diversified portfolio of product or services across the worldwide in an impressive style.
Due to which they are enable to improve their overall performance in an efficacious
manner. It serves around 15000 financial advisors which make them one of the world's largest
brokerage and leader in global wealth management as well as help them to cope with all
marketplace rivalry in a productive way (Georgescu and Popescul, 2015).
Weakness
 Its major drawback is that Merrill Lynch is too much dependent over cost cut which
means it has declining credit ratings which negatively influence its brand image among
competitors. Additionally, it generate its major portion of income from home market that limits its
network of connection in a wider scope and directly influence over their capability in
acquiring best position within an industry.
Opportunity An impressive growth opportunity which Merrill Lynch can utilise is that acquiring the
strategy of Merger and Acquisitions or Joint Venture in order to enlarge the market size
or share in a creative mode (Ali, Payus and Ali, 2015). Along with this, they can make
attempt to evaluate market analysis which aid them to enhance its profit margin ratio in
an economical manner without nay difficulty.
Threat
 The industry where Merrill Lynch operates its business function contains stiff or intense
level of competition which impact its growth or proficiency ratio as they find difficulty in
acquiring innovative techniques within their business function or operation for obtaining
profit maximisation.
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 In UK marketplace, there is a huge level of threat from alteration of government policies,
recession, investment banking pressure that may effect negatively over Merrill Lynch
brand value.
Small Charities Coalition
Strength
 It's foremost positive feature is that it contains large scope of service as it serve their
function over 9,000 small charity members which make them more reputed and well
known firm among non profit organisation sector (Karimi-Maleh and et.al., 2017). It has flexible nature of donating funds which attracts more population towards their
brand image and helps Small Charities to acquire best positioning within competing
industry.
Weakness It primal shortcomings is that the cost of home collection is often very high which may
effect negatively over company's capability in attaining productivity ratio.
Opportunity As the marketplace is moving to digital world, it generate a vast opportunity to Small
Charity Coalition to enlarge their market division to various new geographical region as
well as can improve the performance in local community by maintaining better
relationship with customers or clients.
Threat
 Due to the high level of competition or rivalry among industries, it may directly effect
over Small Charity to acquire best position within UK industry as well as to survive in
industry for longer period of time in an innovative or creative style (Grewal, and et. al.,
2015).
P6 Relatedness of strength and weakness with macro factors
There is an interrelation between strengths and weakness of the organisation with the
external environmental factors. The strengths and weakness of the company can be further
channelised to improve position of a business in the market. The businesses through right
interrelation can combat the challenges faced in the market (Hair Jr and et. al., 2015). Some of
the interconnected of PESTLE with strength and weakness are as follows:
Political
14

Positive: If Merrill Lynch makes an attempt to adopt any modification or alteration
within their internal process as per the government requirements then it will enable them to deal
with unfavourable market circumstances in a better manner.
Negative: If an organisation fails to follow government policies and procedures then it
decreases their proficiency ratio within industry.
Economical
Positive: Under this, if Merrill Lynch decreases their product price during recession or
recess period, it will help them to retain its existing customers as well as can capture the attention
of large number of population in an trenchant manner.
Negative: For example, Merrill Lynch increases cost of product during poor economic
condition of UK, then it impact them negatively by reducing its productivity rate.
Technological
Positive: In case, Merrill Lynch adopts innovative technological measures such as mobile
payment and mobile application, it will positively influences market reach of the company and
adds to convenience of consumers.
Negative: On the contradictory way, if Merrill Lynch denies to acquire advance tactics or
techniques into its business operation, which impact its sales revenue and reduce firm's brand
value within marketplace.
Social
Positive: In this, Merrill Lynch takes an effort to fulfil the demand or need of consumer
that will benefits them to gain competitive advantage and also add value to brand image within
an industry.
Negative: ON the other hand, if establishment does not takes any action to satisfy
population taste and preference then it will cut down its capability to acquire best position among
competing marketplace (Shabanova and et.al., 2015).
Environmental
Positive: This factor is concerned with introducing features or application related to
protect environment that improve Merrill Lynch productivity and profit margin ratio in a better
manner.
15

Negative:If organisation makes no initiative to comply with environmental laws and
activities then it generate negative perception in the customer mindset towards Merrill Lynch
brand.
Legal
Positive: In this, If Merrill Lynch adhere to all government legislations and laws then it
will help them to reduce an interference of governance into their business premises that enrich its
productivity among customer.
Negative: For example, Merrill Lynch withhold themselves by adapting any changes
within their functional areas as per government acquirements then it will become difficult for
company to survive among industry in a competing manner.
Henceforth, from the above explained report it has been evident that there is a direct
relationship between Merrill Lynch internal and external factors i.e. PESTLE and SWOT.
However, maintaining a balance among these factors enable firm to improve its overall function
in an better way as well as they can easily cope with all challenges or rivalry in an innovative
and creative style.
CONCLUSION
It has been summarised from the above report that in order to survive within dynamic
business environment, an organisation makes an attempt to make use of all possible opportunity
which enable them to enhance its proficiency ratio in a better way. Apart from this, each and
every functional areas of company are connected with each other for attaining high level of profit
margin in an efficacious and economical way. Furthermore, PESTLE framework enable an
organisation to deal with its external components in order to make best strategic decision. Along
with this, internal capabilities of firm can be examined with the help of SWOT that assist them to
improve their overall performance in an advanced and ingenious style.
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