Understanding the Business environment | Business Management
Added on 2020-06-04
12 Pages3468 Words74 Views
Business DevelopmentFinanceProfessional DevelopmentEconomics
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BUSINESSESENVIRONMENT
Table of ContentsINTRODUCTION...........................................................................................................................1TASK1.............................................................................................................................................1P1 and P2 covered in PPT...........................................................................................................1P3 Explain relationship between different company's functions................................................1TASK2.............................................................................................................................................3P4 Positive and negative impacts the macro environment has upon business operations..........3P5 Internal and External analysis of Marks and Spencer............................................................5P6 Interrelation of Strength and weakness with external Macro factors....................................7CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................9
INTRODUCTIONBusiness environment define as internal and external factors which directly affect firmfunction that includes management, customers, employees, demand, supply and businessregulation or many more. For example, how well clients expectation form product and servicesoffers are meet. Management of the company develop strategies and plan in order to managebusinesses environment in an effective manner. Through this, firm are able to achieve goals andobjectives effectively in specific time period. Firm are not running in vacuum, it needs livingpersons, place, things, natural resources to exist. In this assignment Marks & Spencer firm areselected to analysis impact of businesses environment on working process. It is a Britishinternational company which run operation around 979 store in UK (Agarwal, Grassl and Pahl,2012). Marks & Spencer is established in the year of 1884 by Michael Marks and ThomasSpencer. In this report covers purposes of organisation private, public or voluntary and size ofcompany. Its also covers relationship between different firms function and positive as well asnegative impact on macro environment. TASK1P1 and P2 covered in PPTP3 Explain relationship between different company's functionsIt has well known that, each and every firm are formed because of their different goalsand objectives. Therefore, operations activities or process are also different which are developbusinesses environment with in an organisation. So that, it is important for management todesign structures accordingly to their vision and mission that helps to achieve objectives in aneffective manner. Since Marks & Spencer are run their businesses in public sector with almost8500 numbers of employees at international level. They provide various kind of product food,clothes, luxury items etc. to their customers in order to full fill needs and wants (Aterido,Hallward-Driemeier and Pagés, 2011). For this, they will need money so that all operationalactivities are completed on time in an effective ways. Marks & Spencer has flat organisation structure with in a work place which reducecomplexity hierarchy. Since, their entire operations are effectively organise as well as conductedby their all workers who are working in their shops. Through this structure, management of1
Marks & Spencer is encourage staff members so that they are able to participate in decision-making process of firm. It has conducted to carry out all plan and policies with in an organisationin enhance employees productivity. If individuals are participating in decision process then it isbeneficial for enterprises because they receive various kind of alternative solution of givenproblem. Several department like accounting, finance, sales, research and development etc. areeffect business environment. Workers who are performing operational task required to be qualityso that it can helps to achieve goals and objectives in an effective manner. It is required that allorganisation function must be related to their structure so as to gain profits and objectives of thecompany in an effective ways. So, the interrelationship between function and structure of Marks& Spencer are explain as follows: Marketing Department : It is most important department with in a firm which are able tosell product and services at market place in order to full fill needs and wants of the clients.Through this, they are manage internal faction to produce high quality goods that providecompetitive advantages as compare to their competitors in same industry (Auzair, 2011).Marketing department are conducting research to know needs and wants of clients andaccordingly develop or produce product. Through this, they are able to enhance customer'ssatisfaction as well as market share. They are connected with all other division with in companywhich affect their function. It is very effective in gaining competitive benefits in the industry aswell. Human Resource Department – Human resources manager recruiting and selectingtalented candidate which create positive impact on organisation performance as well asproductivity. They are organising training program for their employees in order to enhanceprofessional skills and knowledge. Through this, they are able to produce high quality productand services, it increase profitability as well as market share. They are helping other division offirm in bringing coordination and cooperation in between all department. Production and Operations - Production and operations function is being organised tostart developing manufacturing process of product and services. It has establish link betweenstructure of an organisation and goods as per set strategies or plan only (Avramenko, 2012).Marks & Spencer is a retail organisation so that they run their business activities in servicesindustry. They offer various kind of product like food, cloths, luxury items etc. to their buyers.2
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