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Tesco - Business and Business Environment

   

Added on  2020-10-05

16 Pages4594 Words317 Views
Political Science
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Business and BusinessEnvironment
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Table of ContentsINTRODUCTION...........................................................................................................................1LO1. ................................................................................................................................................1P2&M1. The size and scope of different organizations..............................................................3LO2..................................................................................................................................................5P3&M2&D1.. Explaining the relationship between different organizational functions and theirlink to corporate objectives.........................................................................................................5LO3..................................................................................................................................................7P4&M3. The positive and negative impacts of macro environment factor on operations ofbusiness.......................................................................................................................................7LO4..................................................................................................................................................9P5&M4. Internal and External analysis of particular organization to evaluate strengths andweaknesses..................................................................................................................................9P6. Explaining the strengths and weaknesses interrelate with the macro factors.....................10D2. The impacts of both micro and macro factors on the business objectives and decisionmaking.......................................................................................................................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
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INTRODUCTIONBusiness environment includes both internal and external factors which in turn closelyinfluences firm’s ability in relation to building as well as maintaining effectual customerrelationship. In the context of business unit, it is the accountability of manager to developcompetent strategic and policy framework for dealing with such environmental forces. Thepresent report is based on Tesco which provides customer with wide range of retail products andservices at affordable prices. In this, report will provide deeper insight about different types oforganizations and their legal structures. Further, it will shed light on the size and scope of variedorganizations. Report also entails organizational structure which Tesco is following formanaging operations effectually. Along with this, it also presents internal analysis which in turnclearly reflects organizational strength, weakness, opportunity and threats. In this,interrelationship between micro and macro factors will also be discussed. LO1. P1. Different types of organization and their purpose and legal structurePublic organization- Public sector organization is owned by government and is set upfor the achievement of defined purposes of public and not for profit making (Prajogo, 2016). Themajor stake of such companies is held by the public authorities which include central, state andlocal government. The securities of public enterprises are traded on the stock exchanges andissued to public at large. For example- virgin money is a public sector enterprise, a leading UKbank, focuses on creating value to the external and internal users by delivering positivecontribution to the society.Purposes- Economic growth- the foremost objective of public firm is to enhance rapid growth ofthe economy by creating necessary infrastructure for the development of the economy. Creating employment opportunities- Public company creates more and moreemployment opportunities for the public so that economic goals can be achieved.Generating return on investment- These companies develop resources that inculcates ahigh return to the stakeholders so that maximization of wealth can be attained.Legal structure- As a leading challenger bank, they emphasize on the mortgages for home,credit cards and saving account with the added complementary services that involves insurance,1
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investments etc. This leads to a relationship building with customers and enables them tofacilitate a positive contribution towards the community.Private organization- These are the privately owned enterprises, established for thepurpose of making profits. Such companies restrict the issue of shares to the public and thesecurities of these enterprises are not traded on the stock exchanges (Kljucnikov, and et.al.,2016). It is run by individual, instead by the government. For example- Tesco is the privateorganization, a multinational retailer that focuses on generating revenue and income to reach acompetitive position and to gain competitive advantage.Purposes- Profit maximization- the primary purpose of these companies is to increase the profits forcreating a brand image and to capture the large market.Restricting access- the private companies restrict the access to the policies, marketingplan and competitive strategies and ensure that private data of the enterprise remains safeand secured. By this these firms resist the competitors to attain the competitive edge inthe market.Legal structure- It is a listed self owned company. As a corporate governance all theshareholders, chief executive officer and the board of directors is in accordance with the externallaws, recommendations and regulations as well as the rules internal to the work environment(Hillary, ed., 2017). They diversified their business at different geographical region throughsuperstores, convenience shops, supermarket etc. by selling a range of different productsaltogether. This enables them to set up more and more stores across the globe.Voluntary organization- It is a non-governmental organization, where a group of peoplevoluntarily contributes for the welfare of the people. These firms run for carrying specializedactivities in relation to development, aid and emergency relief. Such enterprise acts as the non-profit making organization. For example- Cancer research, UK based voluntary firm that worksfor facilitating social services by conducting the campaigns and research for preventing peoplecausing cancer in the community. They spread awareness being voluntary among the public forcuring the disease at all levels.Purposes- Raise money- these firms raise money for the purpose of funding the welfare programs.Create awareness- such firms provide education to all the people including professional.2
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