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The positive and Negative Impacts the Macro Environment

Explain the context for innovation, different types of innovation, and the process required to commercialise innovation in an organization of your choice.

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Added on  2020-10-23

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This report is on the "macro environment of business". The present report is based on Marks and Spencer is a popular retail firm that provides quality clothes, food items, and various home products in the United Kingdom. This report's macro environment of business specifies strengths and weaknesses with external macro factors. Along with this, Marks & Spencer functions have interconnection with each other which helps management to acknowledge the positive and negative impact of the macro-environment on operations. 

The positive and Negative Impacts the Macro Environment

Explain the context for innovation, different types of innovation, and the process required to commercialise innovation in an organization of your choice.

   Added on 2020-10-23

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The positive and Negative Impacts the Macro Environment_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1COVERED IN PPT.....................................................................................................................1TASK 2............................................................................................................................................1P3 Relationship between different organisational functions to achieve objectives....................1TASK 3 ...........................................................................................................................................3P4 Positive and negative impact of Macro environment on business operations.......................3TASK 4............................................................................................................................................5P5 Internal and External analysis of Marks and Spencer............................................................5P6 Interrelation of Strength and weakness with external Macro factors....................................7CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
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INTRODUCTIONBusiness environment is characterised as place where business operations that areexecuted by organisations to timely attain goals and objectives. Companies have internal andexternal factors which directly and indirectly impacts on system functionality. Stakeholders suchas shareholders, suppliers, creditors, employees and customers are various elements whichinfluence on activities; thereby required to be managed by administration adequately. Presentreport is based on Marks and Spencer is popular retail firm which provides quality clothes, fooditems and various home products in United Kingdom. This assignment specifies informationabout different types and purpose of organisation that exist in market and vary with each other inrespect to size, scope, structure and objective (Auzair, 2011). Along this, company functionshave interconnection with each other which helps management to acknowledge positive andnegative impact of macro environment on operations. Thus, internal and external analysisbenefits superior to make interrelation of strength and weakness with external macro factors. TASK 1COVERED IN PPTTASK 2P3 Relationship between different organisational functions to achieve objectivesHuman resource, finance, operation, marketing, sales, IT, research and development arevarious departments which are formulated by executive to accomplish goals and objectives. It isessential that organisation have adequate resources that is funds, material and manpower whichhelp administration to execute business operations effectively. Along this, managementformulate strategies and implement appropriate tools and techniques in system to provideappropriate items and services in market in according to needs and wants of people. Marks andSpencer which is popular retail store that provide variety of food items, clothes and otherproducts (Burns and Winter, 2011). Human resource department: Employer responsibility is to have adequate workforcewhich help them to organise business activities in according to objectives. Recruitment,selection, training, compensation and development are various practices that are executed bymanagement. This help M&S to have skilled and competent members to carry out operations ineffective manner. Administration provide duties and tasks to staff in respect to their skills and1
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abilities. Along this, they even divide members in different units which benefit company to attaingoals and enhance market position. Production department: This unit duty is to manufacture adequate items and services inaccording to needs and wants of people. HR of M&S employ candidates in operation unit andexecute sessions and seminars to improve their skills and knowledge. Along this, R&D teamconduct market research which helps them to have accurate and complete information about tasteand preference of people. Thus, management implement latest tools and techniques in system toprovide quality products and quick services to clients (Commander and Svejnar, 2011).Finance department: This unit require to have skilled members which have capability toutilise funds adequately. It is necessary that financial statement that is balance sheet and profitand loss is formulated by superiors to acknowledge complete information about expenses andincome.Marketing department: Organisation require to have large customer base which helpmanagement to generate adequate profit from business. Marketing plan is formulated whichcomprise information about overview of M&S, mission, vision, objective and marketing mix.Product, price, place, promotion, people, process and physical evidence are various componentsthat are designed by marketing team to attract people by informing them about items andservices. Sales promotion, online advertising, personal selling, publicity and e-marketing arevarious tools used by management to establish good position in market and easily position firmhigher than rival brands (Cronan and et. al., 2011). Sales department: This unit comprises responsibilities to interact with customers andinform them about products. Management of M&S take care that adequate sales people arepresent in firm. Along this, they even take care that members have skills to influence people andpersuade them to purchase things in respect to their needs and wants. Marketing team usespromotional techniques to attract people by informing them about transformations made byseniors in products. Research and development department: This segment require to have completeinformation about needs and wants of people. Market research and survey is appropriatetechnique used by members of M&S to acknowledge taste and preference of consumers. Alongthis, management even require to anticipate competitors offerings which help operation members2
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