Unit 1 - Business and the Business Environment

This document discusses the types and purposes of organisations, including public companies, private companies, and voluntary companies. It also explores the size and scope of various organisations and the relationships between different company functions and their objectives. The document focuses on Tesco, a public company, and Aldi, a private company, as examples. It provides insights into the positive and negative impacts of the macro environment on business operations and analyzes the internal and external factors that affect decision-making. The document is relevant for students studying business and the business environment.

Unit 1 - Business and the
Business Environment

TABLE OF CONTENT
INTRODUCTION.................................................................................................................................3
LO1.......................................................................................................................................................4
P1 Types and purposes of organisations............................................................................................4
P2 Size and scope of various organisations.......................................................................................6
LO2.......................................................................................................................................................7
P3 Relationships between various company functions and how they link to objectives....................7
LO3.......................................................................................................................................................9
P4 Positive and negative impact of macro environment on business operation.................................9
LO4.....................................................................................................................................................12
P5 Analysis of internal factors that affects on decision making of business....................................12
LO4.....................................................................................................................................................16
P6 Strengths and weaknesses interrelate with external macro factors..............................................16
CONCLUSION...................................................................................................................................17
REFRENCES......................................................................................................................................19
Books and journals..........................................................................................................................19

INTRODUCTION
The business and business environment is understood as one of the highly growing
working parameters where companies within global paradigms are being actively developing
on larger vision for new working innovation, diversity of fundamental operations. The report
will be explaining various types and purposes of organisations, with varied scope and size
parameters and working relationships between various functions of company for analysing
their linkage with wider objectives. Tesco is one of the biggest public limited company of UK
and has been working with wide international reach having wide reach of products and
services and Aldi is private limited company having high range of working operations with
strong innovation goals. The study will be also explaining company positive and negative

impacts within macro environment and their working scenarios impacting business operations
of longer run. Study will be also discussing internal and external analysis for identifying
strengths and weaknesses for company’s functional networking scenarios and their
interrelation within each other on longer time factor (Agnihotri, 2016).
LO1
P1 Types and purposes of organisations
There are various types of organisations within wide business environment where
they are divided on basis of type and purpose they serve operations with, and are keenly
working towards gaining new functional horizons of larger productive diversity. The main
three types of organisations under which business structure are divided can be understood as
public company, private company and voluntary companies where industry actively focuses
on pertaining larger innovation and diversity.
Public companies owned by government
The public companies are public traded company which list their shares open in
public whose ownership is organised via shares of stock and which are intended to be freely
traded on stock exchange. Public companies are widely known for having high working
innovation on various platforms where there is large efficacy towards innovation, investing
larger capital range and also for developing new diverse working fundamentals. The public
company do note open up any decision power within shareholders where there is no power
open among people to take decisions and, shareholders can only invest in shares. Public
companies widely focus on keeping the capital range strongly diverse as financial reports are
an important parameter for bringing large investments from various people and also there is
high diversity governed. Tesco is one of the largest public company having large range of
products and services within all stores, having productive goodwill with strong innovation
keen scenarios and also focusing to diversely work on new leveraging arenas. Purpose of
public companies are focusing on gaining larger investments among people with higher
goodwill horizons, larger capital functional capabilities and also to leverage on new working
potentialities by developing goodwill among diverse target consumers (Bäckstrand and
Engström, 2019). Public companies have legal structure where their shares are open among
people to invest on further for corporate expansion and new scale developed legal consumer
goodwill on which varied scale functional goal innovation is present for harnessing varied

goals developed connectivity. Uniliver is one of the biggest public company expanded on
varied scale arenas with high scope goals and new range of productive innovation.
Private companies
The private companies are corporations who work independently and shareholders are
the only holders of all responsibilities and legal actions within meetings, where they are
active decision makers and shares are not open for public to invest in which is demerit and
also there is functional higher range of goodwill on varied horizons. Private companies have
strong working synergy of higher innovation and enhanced vision to formulate new criteria,
larger effective decision makers as being the shareholders they have optimum right to invest
and gain best results. IKEA is one of the largest private limited company having wide range
of products and services, expanded among varied horizonswhich has been expanded into
various parts of world.The private companies are less open among people as shares are not
open among people to invest in which limits fundamental working opportunities, higher keen
scenarios of working vision and shareholders have large power to be active decision makers.
The private companies are solely responsible for all capital investment decisions and to
leverage higher working goodwill within longer time run, to enhance new working
potentialities and also actively work towards pertaining new growth objectives in larger
productive scenarios. The Aldi is UK one of the largest private limited company having high
range of stores within global parameters, serving people with vast categories of products and
services and also for factoring productive innovation within diverse retail competitive
industry scenarios. Purpose is solely to focus on profit factors and leverage goals, higher
effective innovation and also to work on goodwill horizons for larger competitive strength
(Cohendet, Parmentier and Simon, 2017).Ownership of public companies are under
government and private companies ownership is under private bodies of shareholders, where
there are larger arenas of working horizons taking wider shape on varied aspects. DYSON is
one of the known private company within UK where legal structure of private company is
widely expanded on large range of shareholders and higher range of strategic scope for
stronger new investment scenarios on which private company goals have been vividly
growing.

Voluntary companies
The voluntary companies refers to company whose primary purpose within functional
scenarios is to create social impact rather than profit in longer run where purpose is to serve
people with high advanced working determinants. The voluntary companies have strong
purpose not to create larger profits, new working goodwill and also there is limited capital
range to invest further on varied domains. It can be understood that voluntary companies
serve functional work goals where ethics, to enable society effective living standards by
bringing on keen scenarios and new productive working paradigms. Red Cross, UK is one of
the best voluntary company serving people from around world with best social care services
and to work with vision of promoting equal productivity, larger goals working operational
metrics. The voluntary companies have wide scope for bringing on overall change within
society, larger productive goals and also to promote equality and new vision formulated to
keep diversity at high range (Dvorak and Razova, 2018).
P2 Size and scope of various organisations
The size and scope of various organisations can be analysed based on various
productive paradigms, new productive scenarios and for developing innovation new
functional working goals and larger vision onto wider domains.
Public companies
 Public companies size is large due to its wide functional capital range and wide range
of people investing highly on working goals based on goodwill horizons, larger
diverse range of products and services catering as per consumers demands and also
for keeping up with innovation (El-Helaly, Ntim. and Al-Gazzar, 2020). The scope of
public companies is also wide as people have large functional opportunities to take
active investments as shares are open among people by trading them in open market.
Scope is wide but people who are investing in shares cannot take any decisions where
it can be understood that the shareholders have no voting power to be impacted within
working decisions.
 Tesco as public company is widely best serving within competitive retail company
where large range of products and services are there, widely spread globally and also
there is wide working scenarios for new innovation functional synergy. As wide
scope of public company is present there is wide developing innovation, technical
growth and diversity standards worked on and also for creating new advanced reach

on higher evocative domains. Public companies have wide reach among public as
shares are open for public to invest in and also there is wide functional innovation
worked on which keeps revenue standards at high profitable scenarios.
Private companies
 The size and scope of private companies are comparatively less when analysed in
comparison with public companies where the investments are done by shareholders,
they also hold majority of working powers to take all informative best decisions
within company business scenarios. The private companies also functionally have
wide scope for new working innovation in larger quality work metrics to functionally
enhance wider domains expertise and also leverage goodwill among consumers based
on products, services.
 Dyson is one of the most known private companies where brand has wide number of
stores and services, productively having best working innovation but limited scope as
shares are not traded among people within open market. These factors enable us to
analyse large creative horizons and diversity paradigms for private companies and
how they have large working parameters. Private companies have internal
shareholders who are the main people who invest through capital, and no outsiders
can take any active decision power or interfere within productive enhancement
decisions (Grimpe and Sofka,2016).
 Small size company: they are independent firms with less than 50 employees.
However, the maximum number of employees is different from one country to the
next
 Medium size company: business with up to 250 employees.
 Large size company: Large businesses are businesses with 500 employees or more.
 Micro
 Small and medium companies: ; small businesses are usually defined as organizations
with fewer than 100 employees; midsize enterprises are those organizations with 100
to 999 employees.
 Large companies: A large enterprise is an enterprise that checks at least one of the
following two conditions: has at least 5,000 employees ; has an annual turnover
greater than 1.5 billion euros and a balance sheet total of more than 2 billion euros.
 Sole propertiorship: The sole proprietorship is the simplest business form under which
one can operate a business

Voluntary companies
 The size and scope for voluntary companies can be in detail understood by analysing
purpose of their operations which are widely focused on bringing new vision within
working society, functionally enhance wider better living parameters for people and
also to enhance overall productivity. Size of voluntary companies is limited and scope
is also widely narrow, where capital structure is also limited where no shares are there
for people to invest in nor wide focus is given towards marketing and promotional
aspects.
 It can be evaluated with theses paradigms that voluntary companies have least size,
scope as compared to any other size of organisations and also limited working reach
among people which can fundamentally also impact on new future horizons. For
example: Red Cross being one of the most prominent voluntary company has been
focusing to work on bringing new working efficiency, by bringing on decisions where
scope is limited and also capital to bring on innovation. People often bring charity
within voluntary companies which enable to broaden the working horizons, where
degree of local involvement, democracyis widely analysed and reporting of best
regulatory costs where scope is limited at some working parameters (Hekker and
Negro, 2020). Micro organisations are in very small size as compared to small
medium and large organisations where they can be understood to be having wide
number of determinants for keeping up effective domains.
LO2
P3 Relationships between various company functions and how they link to objectives
The various company functions within company are widely connected with each other
and their interrelationship with each other enables us to analyse various parameters for
growing objective completion and larger vision formulated. Various departments within
company are not only interlinked with each other but also contribute to company objective
completion in longer time run for high quality goodwill within services and larger revenue.
The resources completion worked on with best innovation, larger diversity enables companies
to functionally grow on varied grow paradigms and sustained goodwill among consumers
where there is new diverse activated growth worked on.

 Production and research technology department: Tesco production department
working objectives are connected with research technology departments for attaining
new functional innovation among production standards, in goods and services within
productive functional working arenas. The company higher revenue, longer term
goodwill goals are interlinked with new working paradigms, where the
interrelationship of production department, research technology department is widely
connected. There has been new progression worked on within this scenario where
research and technology department functionally focuses on bringing new primitive
ways for keeping up with high innovation within production standards. This effective
interrelationship also enables to keenly work on varied competitive growth aspects
and also for rational competitive efficiency, yielding new functional advancement.
 Human resource department and marketingThe interrelationship with human
resource department and marketing, production departments is also considered to be
one of the most essential for Tesco to work with large efficiency and skilled human
resources. When human resources are talented and widely focused on to bring on new
functional horizons scenarios, where varied activities of all departments are worked
with high promotional working synergy overall productivity is grown. Tesco aims to
keep all functional activities highly pertaining focus on innovation and larger
diversity, by bringing on skilled employees at board and also for generating larger
worked on vision to be dynamically evolving. This interrelationship is widely active
to enhance new working leveraging vision, for harnessing long term goodwill based
on varied parameters and also to aim keen growth (Helmreich and Merritt, 2017). Marketing department and sales department: The interrelationship between
marketing departments and sales departments within working functional horizons
enable us to analyse that resources and strategies used within marketing departments
are actively communicated to sales departments. The sales departments set targets and
goals of business completion, not only focuses on marketing excellence with focus on
digital platforms but also to reach larger audiences. Tesco as one of the fastest
growing biggest retail brand has been actively focusing on generating new end goals
of best marketing and sales activities, for keeping up with wide innovation and also
for generating high scale diversity within varied paradigms. Marketing and sale
targets shall be kept in check and monitored effectively with high scale regularity for
generating new scale wider diversity within new potentialities and also for keeping up
with best goodwill in competitive retail industry.

 Finance and research technology department: The interrelationship with finance
departments and research technology development department is widely correlated,
interrelated with vision to form new scale evoking goals where resource
implementation is wide (Hilbolling and et.al., 2020). Tesco company goals for being
best quality serving retail brand among foods and services, have major scope for high
profitable working innovation and to be cost effective within resource allocation
goals. The finance departments keep check on how much capital range is invested
within new technology development and also for larger vision innovation. It can be
understood that finance departments are holding new functional working reach of best
evocative horizons for generating large vision oriented growth in technology scale
and also for productive new profitable goals. The role of finance department is also to
actively focus on keeping up with all financial reports and larger outputs scenarios,
where all focused vision to bring on new productive goals completion is worked on
for gaining larger determinants attained. Tesco company resources are also within
research and technology departments are in active correlation with finance
departments, where revenue standards have to be actively monitored and also for
wider informative goals completion (Matošková, Macurová and Tomancová, 2018). ]
The interrelation among company functions within business development brings
forward mew domains of company culture which enables competency to be vividly
developed forward and also for generating higher revenue standards. Tesco has been
working with matrix company culture structure which has enabled business scale
diversity to be evolved further.
LO3
P4 Positive and negative impact of macro environment on business operation
Macro environment include all factors that are external to business but directly on
Macro environment include all factors that are external to business but directly on indirectly
impact on its strategy and operation. Such as each company have to abide to recent laws,
rules, regulation of government in order to protect itself from huge penalties and fines.
Technology, social, economic, environment and legal are many other factors that have
positive as well as negative impact on Tesco which can be illustrated as follows:

Political factor: Brexit is one of the policies implemented by government that have resulted
in political instability thus lots of businesses are uncertain about specific strategies that they
could use to grow business (Crowley and Jordan, 2017).
Positive impact
Globalisation has encouraged UK government to implement free trade policies so that
enterprise such as Tesco are able to expand their business in global market thus economy of
country can grow.
Negative impact
After Brexit, United Kingdom cannot transact or trade with European Union thus it
has resulted in decrease in overall sales volume and profitability of organisations. Free trade
policies have resulted in increase in competition level as large number of firm have invested
their capital in UK to earn heavy return. So, it causes threat to operation and sustainability of
organisations.
Economical factor: Interest rate, disposable income of customers, GDP of country,
demographical structure and unemployment rate are some of the components that are
included in economy that influence business. United Kingdom due to covid-19 and brexit is
suffering from economic slowdown or recession thus number of people are unemployed or
having less income (GAIKWAD and KATE, 2016).
Positive impact
Tesco offers products and services at lower prices possible than other competitors in
market so they are able to motivate maximum number of customers to select there products
so that their needs can be fulfilled.
Negative impact
Cost of raw material have rise so company have to incurred additional expenditure to
purchase similar quality of products thus it have reduce profit margin of Tesco. Due to
increase in interest rate, both firm are less willing to diversified their business operation as
high interest need to be paid for using capital.
Social factor: It includes people or group of individual that are living in society that purchase
products and services from several companies so that their daily requirements can be

fulfilled. Customers demand and preferences changes rapidly as per existing trends, prices
and availability of alternative options in the market (Xu and Koivumäki, 2019). The way this
changing preference and trends have affected Tesco are illustrated below:
Positive way
Both companies have effective adapted to external social changes in order to sustain
their business and meet customer’s expectancy such as they have launch organic food range
for health conscious individuals. Varieties of products or services are offered by firms at
single stores so that they can easily choose and satisfy their needs.
Negative impact
Most of the people think that these company offer low value products due to lower
pricing strategy thus it have impact on their brand image and reputation. So Tesco have to
improve its quality of products and services render to customers to effective expand its
market share and profitability in retail industry. Due to covid-19, people are less preferring
unhealthy products or making less purchase for their health and safety so it have resulted in
decrease in sales of several firms that are operating in retail sectors of UK.
Technological factor: there are number of huge enterprises which are making investment
and use of innovative techniques and method to deliver services to customers. Like use of
internet, digital technology to market or promote brand image and products of company so
that more and more customers prefer particular company.
Positive impact
Tesco by making use of digital technology or social media have created strong
awareness of their respective products and services in minds of customers that are living
across worldwide. Online presences and strong supply chain, innovative technology have
provided ease to customers to easily book or order products while staying at home or working
in office. Mobile payment options, quick home delivery of services have helped in satisfying
needs of customer beyond their expectancy.
Negative impact

Companies have limited availability of finance so it is difficult for firm’s i.e, Tesco to
make investment in new technologies to satisfy wants of customers. Thus, it has increased
overall expense of firms thus affect price and profit margin of firm.
Environmental factor: It is most recent concept, which has come into existence due to
increasing in population and wastage of natural resources. Government and local residents of
UK are forcing companies to make best utilisation of resources or cause less harm to
environment (Madi, 2017).
Positive impact
Companies have taken steps towards sustainable management of resources by setting
procedure or rules that need to be followed by each employee while performing its task.
Thus, optimum utilisation of resources has lead to reduction in cost and maximum value
delivered to customers thereby contributing in maintaining customer’s loyalty and growth of
firm.
Negative impact
Lot of time, money and efforts are needed to be invested by companies to considered
environmental factors for smooth operation of enterprise.
Legal factor: These are laws and regulatory made by government for resolving dispute and
maintaining harmony in the society.
Positive impact
ALDI have incorporated or abided to all legal laws that have resulted in growth of
enterprise. Such as cost of compliance has lead to decreased in overall profitability of
organisation.
Negative impact
Tesco by over showing its profit margin to key stakeholders have break the rules thus
it have impacted on brand image and customers confidences (Tesco scandal, 2019). Thus, it
has lead in adding cost to the organisation thereby negatively impact it.

LO4
P5 Analysis of internal factors that affects on decision making of business
Swot model is a tools that is used to identify strength and weakness, threat and
opportunities associated with particular business. So that accurate and appropriate strategies,
set of actions can be planned by manager for achievements of company goals and objectives.
Therefore, SWOT model is used to compare and contrast between internal strengths,
capabilities of firm that helped in gaining competitive advantages in retail sectors of United
Kingdom (Berghoff and Rome, 2017). Such as:
BASIS ALDI TESCO
Strength  Pricing strategy used
by ALDI is one of the
biggest strength as it
helps company to
attract number of
customers to purchase
their day to day
products.
 High customer support
is strength of ALDI
that helps in effective
expansion and
promotion of business
across worldwide
(SWOT analysis of
Aldi, 2019).
 On the other hand,
Tesco is one of the
leading grocery
retailer and
supermarket that have
maximum market
share in United
Kingdom i.e 28%. It
has more than 6800
stores across 14
countries thus it
enjoys high profit
margin and
customer’s loyalty.
 At the same time it is
Tesco that have
employed maximum
number of individuals
like 743000 thus
contributed in growth
of economy.
Weakness  Employees of ALDI
are unsatisfied or not
 Tesco is unable to
manage its global

happy with operation
of firm. As they are
paid lower wages and
forced to worked in
multiple shifts. So, it
is unable to retained
highly skilled and
talented employees
within firm.
 Low profit margin is
also weakness of
ALDI thus it have to
dependent more on
increasing sales
volume to earn
maximum profit.
operation or it have
to close down its
operation in US and
Japan. Thus, due to
poor market research
company have to
face losses in various
countries.
 Accounting fraud is
another weakness
that have adversely
destroyed brand
image of firm (An
Overview of Tesco,
2019).
Threat  Increasing number of
competitors such as
Walmart, Tesco
possess threat on
sustainability and
smooth operation of
business. So,
company needs to
differentiate itself in
order to retained its
market share and
customers loyalty.
 Covid-19 is biggest
threat which is faced
by Tesco as well as
other firms that are
operating in industry.
As it have resulted in
decrease in
purchasing thus sales
volume of firm.
 Dynamic nature of
business environment
and numerous
changes in people
preferences,
government policies
and economic crises

have caused threat to
operation of Tesco.
So, manager needs to
think best strategy
that could helps in
coping all such
uncertain events for
benefit of
organisation.
Opportunities  Diversification of
business into new
areas or improvement
in quality of products
and services is key
opportunity for ALDI
to grow and develop
in retail industry of
UK.
 Company also has
opportunity to
increase its presences
in several social sites
in order to create
strong relationship
with wide range of
customers that are
living in different
parts of world.
 Tesco have recently
opened jack business
that offer products at
highly low prices so
expansion of it may
result in growth of
organisation.
 Company also have
opportunities to form
joint venture or
acquire other firms in
order to enter into
new markets to meet
needs of diverse
individual and attain
objectives of firm.
 Promoting Digital
marketing can also
helped in attracting
huge number of
people and enhancing
g market share of
firm.

LO4
P6 Strengths and weaknesses interrelate with external macro factors.
The strengths, weaknesses have high interrelation with external macro factors within
businesses where t there are various parameters analysed where Tesco as public company
within retail industry and Aldi as the private company is focusing to evolve with strong
fundamentals to keep strong revenue and goodwill.
Interrelationship of strengths and weaknesses with external macro factors for Tesco:
The strengths of Tesco which are large number of stores and wide range of services,
products within stores has been highly correlated with external factors of technology
excellence and productive competition within retail industry. The large capital shall be
actively invested within bringing on new working horizons of innovation at board and also
for pertaining smarter wider technical goals enhancement reach which makes wide diverse
reach. The weakness of less competitive excellences within internal production scenarios
need to be worked on by generating new high standards machinery innovation, large
creativity horizons and also for keeping consumer loyalty at new horizons. The weakness of
less efficiency at employee services has to be worked on by training employees with best
skills and new advanced synergy, for keeping up with new goals completion metrics and also
for generating new worked on revenue standards (Mor and et.al., 2018).
External macro factors where retail industry is widely growing shall be actively
worked on by bringing advanced capital structure for keeping up with higher working
diversity, and also for technical excellence dominated within new scenarios. Within macro
factors there is demand for stronger new working parameters for larger goals innovation with
higher shift in consumers social demands and also to develop value on wider arenas, by
enforcing larger capital range goals. Tesco company has been working with smart operational
paradigms of high growth innovation for gaining excellence towards new competitive growth
horizons, for gaining larger keen functional determinants and also to operate on new active
working vision. The external and internal factors have high correlation with each other based
on varied arenas where interrelationships enable major growth to be worked on for reaching
higher profits at revenues and also active consumer goodwill. It can be also understood that
there is diverse functional programming synergy of new innovative productive development

demanded within products, services where customers have also high dynamic preferences
within new scale innovation (Murzacheva and Levie., 2020).
Interrelationship of strengths and weaknesses with external macro factors for Aldi:
Aldi strengths within business scenarios are analysed with varied parameters where
capital structure is strong, also there are large scale number of stores which makes reach
effective, this correlates with external macro factors of high corporate demand among
consumers where the brand is facing high range of competition. The brand shall use goodwill
horizons to enter into untapped business horizons within untapped customers segments and
also focus on building investments in new technical innovation where brand is facing high
threat. Aldi has been unable to draw attention of goodwill from people within latest
competitive industry scenarios and for larger goals innovation, for harnessing active
innovation to bring production growth within products and services. This can be understood
by analysing working larger creativity horizons where new scale goal productivity is wide
and also for targeting larger customers with diverse innovation (Radnor and Bateman, 2016).
Aldi also faces weakness of less marketing standards, weaker promotion scenarios
worked on where Aldi has been unable to cater to best working digital efficacy and also for
keeping up with vision for gaining stronger synergy. The strengths of active vision for
gaining effective advanced technology standards shall be competitively worked on and also
for gaining new worked on leveraging goals where new working scenarios are widely
demanded. The interrelationship of external and internal factors have been actively growing
on advanced levels where there is new working horizon growth, leveraging functional major
goals worked on towards creativity and also for gaining higher goodwill. This can be
understood as major domain of specialised keen parameters where new working productive
evolving synergy is high and also for generating higher active innovation which pertains
wider domains expertise which enriches overall growth (Slack and Brandon-Jones, 2018).
TWOS MATRIX
CONCLUSION
The report can be concluded with detailed analysis of various types of organisations
which are divided into public, private and voluntary companies where new growth active
demand of vision oriented parameters are worked on. Report has concluded public

companies have wide scope due to shares open for public to invest in, private companies do
not open up shares for public to invest in and shareholders are the active decision makers.
Voluntary companies on other hand are working with vision to serve services among people
where capital investments, scope is limited and also reach among working horizons are less.
Report concludes internal and external factors analysis of Tesco, public company and Aldi
the private company where there are varied horizons analysed, study also concluded
interrelationship of all department functions among various working parameters and there is
active evolving synergy of innovation. The report also concluded that external and internal
factors are correlated with each other and also there is strong focus on evolving new demand
for higher growth innovation within technology grounds, to keep up with revenue goals and
goodwill horizons.

REFRENCES
Books and journals
Agnihotri, A., 2016. Extending boundaries of blue ocean strategy. Journal of Strategic
Marketing. 24(6). pp.519-528.
Bäckstrand, J. and Engström, A., 2019. Engagement and co-creation of knowledge–the
important role of workshops for data collection and analysis. In 6th
International EurOMA Sustainable Operations and Supply Chains Forum,
Gothenburg, Sweden, 18-19 March, 2019.
Berghoff, H. and Rome, A. eds., 2017. Green Capitalism?: Business and the Environment in
the Twentieth Century. University of Pennsylvania Press.
Cohendet, P., Parmentier, G. and Simon, L., 2017. Managing knowledge, creativity and
innovation. In The Elgar companion to innovation and knowledge creation.
Edward Elgar Publishing.
Crowley, F. and Jordan, D., 2017. Does more competition increase business-level
innovation? Evidence from domestically focused firms in emerging
economies. Economics of Innovation and New Technology, 26(5). pp.477-488.
Dvorak, J. and Razova, I., 2018. Empirical Validation of Blue Ocean Strategy Sustainability
in an International Environment. Foundations of Management. 10(1). pp.143-
162.
El-Helaly, M., Ntim, C.G. and Al-Gazzar, M., 2020. Diffusion theory, national corruption
and IFRS adoption around the world. Journal of International Accounting,
Auditing and Taxation, p.100305.
GAIKWAD, J. and KATE, P. H., 2016. E-MARKETING: A MODERN APPROACH OF
BUSINESS AT THE DOOR OF CONSUMER. CLEAR International Journal
of Research in Commerce & Management, 7(9).
Grimpe, C. and Sofka, W., 2016. Complementarities in the search for innovation—Managing
markets and relationships. Research Policy, 45(10). pp.2036-2053.
Hekkert, M. P and Negro, S. O., 2020. Mission-oriented innovation systems. Environmental
Innovation and Societal Transitions, 34, pp.76-79.
Helmreich, R.L. and Merritt, A.C., 2017, November. 11 Safety and error management: The
role of crew resource management. In Aviation Resource Management:

Proceedings of the Fourth Australian Aviation Psychology Symposium: v. 1:
Proceedings of the Fourth Australian Aviation Psychology Symposium.
Routledge.
Hilbolling, S. and et.al., 2020. Complementors as connectors: managing open innovation
around digital product platforms. R&d Management, 50(1). pp.18-30.
Madi, M. A. C., 2017. Global business models and labor challenges. Cambridge Journal of
Economics, 24(6). pp.771-787.
Matošková, J., Macurová, L. and Tomancová, L., 2018. A link between knowledge sharing
and managers’ characteristics. Leadership & Organization Development
Journal.
Mor, R.S., and et.al., 2018, September. Role of value stream mapping in process
development: A review. In Proceedings of the 3rd North American
International Conference on Industrial Engineering and Operations
Management, Washington, DC. USA. (pp. 27-29).
Murzacheva, E. and Levie, J., 2020. Entrepreneurial finance journeys: embeddedness and the
finance escalator. Venture Capital, pp.1-30.
Radnor, Z. and Bateman, N., 2016. Debate: The development of a new discipline—public
service operations management. Public Money & Management, 36(4), pp.246-
248.
Slack, N. and Brandon-Jones, A., 2018. Operations and process management: principles and
practice for strategic impact. Pearson UK.
Vinczeova, M. and Kascakova, A., 2017. How do Slovak small and medium-sized enterprises
make decision on sources of finance. Ekonomicko-manazerskespektrum, 11(2),
pp.111-121.
Xu, Y. and Koivumäki, T., 2019. Digital business model effectuation: An agile
approach. Computers in Human Behavior, 95. pp.307-314.
Online
An Overview of Tesco, 2019, [Online]. Available. Through:
<https://bstrategyhub.com/tesco-swot-analysis-2019swot-analysis-of-tesco/>
SWOT analysis of Aldi, 2019, [Online]. Available. Through: <
https://www.marketing91.com/swot-analysis-of-aldi/>.
.Tesco scandal, 2019, [Online]. Available. Through:
<https://www.accaglobal.com/gb/en/student/sa/features/tesco-scandal.html>.
.