Swot Analysis of Halifax

Added on - 22 Oct 2020

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Business Environment
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11. Different types of organization and there advantages and disadvantages as well as theredifferences...................................................................................................................................1TASK 2............................................................................................................................................42. Analysis of two types of organization structures that Halifax Bank have and relationshipbetween the different organization functions as well as their link to organizational goals.......4TASK 3............................................................................................................................................63. Pestle analysis of HALIFAX Bank external environment......................................................6TASK 4............................................................................................................................................74. SWOT analysis of HALIFAX Bank and interrelationship with external factors..................7CONCLUSION...............................................................................................................................8REFERENCES................................................................................................................................9
INTRODUCTIONAll external and internal components or factors affecting different functions of acompany is known as business environment which includes customers, employees, policies, rulesand regulations as well as management. Factors which are able to control inside the company isknown as internal factors and those factors which cannot able to control by company is known asexternal factors. This assignment will identify the size as well as scope of different types oforganization.The study of the report will also identify various factors affecting a business and its positive andnegative factors. The company chosen in this assessment is HALIFAX Bank of UK. It wasfounded in 1853 by Russell Galley.TASK 11. Different types of organization and advantages and disadvantages as well as their differencesPublic Companies-Public companies are those which are controlled and managed by thegovernment of a country. The entire operational functions and activities are governed by legalauthority. The main aim of public companies is to provide employment to large number ofpeople. The profit and loss both is beard by government. The profit generated by publiccompanies is utilized for the betterment of economy (.Molnar, A., 2018).Private Companies-Public companies are those which are controlled and managed by asingle person or a group. The ownership remains in the hands of them only. The main purpose ofprivate venture is to earn more profit and enhance the sales. Both risk and profit are borne by anindividual or group of people.Voluntary Companies-Voluntary companies are the group and union or organizationwhich a non-profit organization has formulated for the purpose of social welfare. Here people arecalled as volunteers who enter into an agreement to form an organisation achieve the aim foruprising and betterment of society.Partnership-It is a common legal structure that two or more people used to manage abusiness together. When tow person started to work together form partnership firm. Thepartnership firm are only valid when it is registered with the state of drafting an agreement ofpartnership.Sole Traders-It is also known as sole proprietorship. It is person who is an inside ownerof a business, entitles to keep all profits of a business as well as liable for losses. It is the simplest1
form of business structure as well as easy and inexpensive to set up. They have a completecontrol of assets of business and all decisions of business.Difference between all these organisationsBasisPublicPrivateVoluntarySoletradersPartnershipScopeThe scope ofpublic sectorsis very vast asthey contributeto theeconomy.The scope ofprivatecompanies arealso broad,theirstakeholdersare in hugeamount. Theyalso contributeto theeconomy byprovidingemployment topeople.The scope ofvoluntaryorganization isnot as vast asit is limited toparticularregion, state orcity.Therefore,thesecompanieshave limitedscope(Luthans, andDoh, 2018).The scope ofsole trader isnot so broad orwide. It isowned andcontrolled by asingle personwho is unableto expand itsbusiness atlarge.The scope ofpartnership isalso limited, asit limited toparticular area,city. Thestakeholdersare alsolimited.SizeThe size ofpubliccompany isvery huge.They are listedin publiccorporation. Itusually holdsthousands ofshareholders.The size ofrevenue andThe size ofprivatecompany isalso large butit less thanpubliccompany.Amazon,Walmart areexamples ofprivatecompanies.The size andscope ofvoluntaryorganization isnot as large asit is limited.The resourceof voluntaryorganization isalso in feweramounts.Majorly, it isThe size ofsole tradersdepends on itsfund andresourcesavailable butgenerally thesize is not solarge; it iseither small ormedium(Solodilova,The size ofpartnershipfirm is smalland medium.2
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