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BUSINESS AND BUSINESS ENVIROMENT Paper

Words: 1932, Paragraphs: 72, Pages: 7

Paper type: Essay , Subject: Business

PROGRAMME:HND IN BUSINRSS

UNIT TITLE:BUSINESS AND BUSINESS ENNVIROMENT

UNIT LEVEL:4MODUL TUTOR:P.MONDALSTUDENT:ABDUL MALIK

ID: LCC20196010

INTRODUCTION:

Business environment is massively important for an organization for achieving their goals and objectives. Consumers and customers are now days putting their trust on how organizations trading in their countries laws and regulations. Varieties of environment is related to organizations .Therefor business environment is very very important for all kind of business.

CONTENT

P1

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P2

P3

P4

P5

P6

BUSINESS AND BUSINESS ENVIROMENT.P1: EXPLAIN DIFFERENT TYPES AND PURPOSE OF ORGANISATION: PUBLIC, PRIVATE, AND VOLUNTARY SECTORS AND LEGAL STRUCTURE.

In law an organization is a corporate association having a legal identity in its own right. These are essentially business organization such as public, private, and voluntary sectors.

PUBLIC SECTOR: organizations are mostly run by government of the state . responsible for providing services to all general public These sector organizations mostly are not for profit , self financing organization. Their structure can be medium to large, such sectors are military law enforcement

Infrastructures and, public education.

PRIVATE SEGTOR: Private sector organization is composed to the economy sectors. Those are intend to earn profits for the owners of the organizations. Private sectors organizations legal structures can be from small, mediums, large in sizes. They can be sole traders partnerships franchise ,joint venture and limited company.

VOLUNTARY SECTORS: Voluntary sectors organization are some can be for profits and some can be for non profit . Their main purpose is to create social impact rather than making profit . The voluntary sectors is independent from local and national government. Charities are the largest organization within the voluntary sectors. Other voluntary sectors organization such as community benefit society , co-operatives ,credit unions Oxfam etc.

Voluntary organizations engage with large ranges of issues such as medical research , youth clubs , climate change , sheltering the needy etc.

The organizations are some of them catagorised limited companies. There are two kind of limited companies such as public limited and private limited.

Public limited company denoted by term ‘PLC. Any body can buy shares in private limited company. Shares are freely bought and sold through stock exchange, a central point which manages all public share dealings .Private limited company which is denoted by term “LTD” .The shares in this type of business are held by private individual who may in many cases works as managing director. Shares are not available to buy through stock exchange.

LIMITED COMPANIES ADVANTAGES AND DISADVANTAGES

Sole trader organizations: Many individual aspire to owing and running their own business , being their own boss making their own decision .For those who decides to turn their dream in to reality becoming a sole trader. Offers the simplest easiest method of trading . sole trader is business owned by one individual who is self employed also . sole trader decides the types of goods and services to produce what capital is to invest what staff to employ.

CONCLUSION: I have explain different types and purpose of organization and given some example of their legal structures.

P2 Explain the size and scope of a range of different type of organisation.

Businesses range in size from the single proprietor at one extreme to large multi national at the other. Multi national or MNC which employ thousands of employees over several continent and country’s. The scope and structure size are very large .I am explaining BRITISH AIR WAYS as a large company.

British air ways was created in 1974 after BA board was established by British government to manage the two nationalized airline corporations . British air overseas airways and British European airways. And two regional air lines such as Cambrian airways from Cardiff and Northeast airlines from Newcastle upon -Tyne. On 31st march 1974 all for company were merged as British air ways .After almost 13 years it was a state company BA was privatelised in February 1987.British airways presently enjoys a revenue of ˆ11.421 billion. Employee number of 42.377 the company boast of passenger figure of 33 millions. it is surviving in the stiff and growing competition. The company has already undertaken sustainability and green technology as one of the strategic policy. And has taken great initiatives in reducing green house gases. Also changes the way they operate a business and bought in a lot of innovation to provide better service to customer and rapid development regarding growth of business in airline sector. The environment and legal scenario was effective in providing broad scope for the development and growth of the company .the global airline industry is highly related to the global economic condition. The latest advancement in the technology and the innovation in the operational as well as the marketing strategies have lead to a new era of and ever growing air traffic. Main competitors in the market are easy jet air France, and Lufthansa.

Conclusion: The British airway has change the way marketing works for its business. It has new strategic policies which has futuristic goals that has been develop in the present day market.one of the most effective of all strategies were the identification of the right market at the right time and made the right choice to gain business.

Small business explanation

BRIGHT STAR FINANCIAL LIMITED

Bright star financial provider of specialist finance solutions for the uk intermediary market and direct – to-consumer proposition, where regulation permits.

They are specialists in traditional and non-traditional landing solutions for the mortgage and loan lending market, providing finance for residential mortgages, commercial finance, short time lending and development finance.

Headquarter in Essex and three office s across the country, the company aims to lead the way and shape the future of UK specialist finance.

Everything Bright star do is guided by the firms five core values: we love what we do, we are ethical, we develop people, we make it easy, we embrace partnership.

The company formed in 2011,is led by chief executive officer Rob Lupp and managing director Bradley moor.They have over ?3 billion in specialist lending since their inception, and have amassed 62 national awards .Bright stars senior management team have their desks set up in the open office space and are therefore accessible to all team members , taking an active interest in their lives in and out of work .

The Bright star partners programme has been introduced to acknowledge the loyalty and commitment of the longest serving Bright stars and to motivate others to achieve this elevated status and recognition within the organization .

P3. Explain the relationship between different organizational functions of a organization of your choice and how they link to organizational objective and structure.

In this section I am to explain my choice of organization TESCO.

In a business there are many functions and they are very important to run an organization smoothly and efficiently. those functions are

Human resources department: human resource services Relates to people works for Tesco.

Tesco needs to recruit people to carry out important activities. Employees are a type of resource. The purpose of human resource to find employees that are needed by Tesco and try and meet there needs . HRM are also link for retention and dismissal.

Administration and Ict support function: they will either give support over the phone or they will come to fix the problems. This is an important function ,they give and take information to customers and all that related to an organization by phone email or internet quickly and safely.

Finance department functions :,Tesco employs special accounting people for their financial dealings they are responsible for all of Tesco’s recording and reporting of the cash flow . this department has some key roles and responsibilities including account recieveable,payable, payroll and financial controls, expenses incomes, measuring the financial performances .

Distribution department function: they are responsible for Tesco’s day to day trading life such as dispatching online orders delivering goods and services to consumers and customers ,checking of daily stock.

Marketing department functions :They are responsible for introducing their every day service and product to customers and consumers and it is very important function of their organization.

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Conclusion: Main purpose having different functional areas in business organization is to insuring that all importants activities are carried out efficiently and accurately. This is important if the business want to achieve its goal and objectives.

P4:IDENTYFY THE POSITIVE AND NEGETIVE IMPACT THE MACRO ENVIROMENT HAS UPON BUSINESS OPERATIONS OF ORGANIZATION OF YOUR CHOICE.

For identifying the positive and negative impact on macro environment I am providing pestle analysis tool as a form of power point slides presentation beiow;

lefttop

P5:CONDUCT INTERNAL AND EXTERNAL ANALYSIS OF ANY OTHER ORGANIZATION OF YOUR CHOICE IN ORDER TO IDENTIFY STRENGTHS AND WEAKNESSES;

SWOT analysis is given below as a form of power point slides presentation to identify strengths and weaknesses.

P6: EXPLAIN HOW STRENGTHS AND WEAKNESSES INTERRELATE WITH EXTERNAL MACRO FACTORS OF ORGANIZATION OF YOUR CHOICE;Here I am explaining strengths and weaknesses of Mark & Spencer and how they inter relates with their external macro factors.

STRENGTHS;

Skilled human resource

Strong offerings in line with latest industry trends

Brand image

Diversified portfolio

Highly effective CSR

Advanced e-commerce infrastructure

Highly focused on customer experience

WEAKNESSES

Poor financial performance since long

Too much reliance on UK markets

Future in Chinese market not optimistic

Frequent product recalls leads to loss of customer confidence and loyalty

Explaining the PESTEL analysis and how they inter relate to strength and weaknesses.

POLITICAL

Reduction in sourcing cost due to free trade

Brexit and it’s significant implication

Government stability and taxation

ECONOMICAL

Conflicts with small retailers over price rise to exchange rates impact (brexit)

Competition such as Primark offering quality products

SOCIAL

Products recall create negative impacts

Customer preference changing

Investing in CSR

TECHNOLOGICAL

Technology partnership to strength, security risk and compliance

ENVIROMENTAL

Focusing on sustainability

Enhancing customer awareness

Sourcing quality raw materials

LEGAL

Legal compliance ensure reliability

Financial dispute

Conflicts with landlords

STRENGTH INTER RELATION TO LEGAL FACTOR:

Offering customers high standards of quality products are essential to meet M&S requirements. M&S are known for delivering word class quality products.

RELATION TO TECHNOLOGICAL FACTOR:

Media played major role of communicating new fashion to the customers. This knowledge can be communicated to the designers and producers. So the the manufacturers in the far east can be aware of the current fashion trends in UK. Technology these days are even more quickly copied than before. More over due to the transportation speed a shipment of stock from a country in far Asia will only take a few days instead of a preview time period of over a month.

WEAKNESS INTER RELATION TO POLITICAL FACTOR:

European committee decision to permit free flow of trading among them selves and other countries under foreign trade regulations make companies to import their products over time easier than before. M&S competitors took advantage of it’s higher cost structure and bit off it’s market shares.

WEAKNESS INTER RELATION TO ECONOMIC FACTOR:

M&S competitors are specialized in niche markets an consumers focus which makes them provide a much better consumers satisfaction. They prefer to import their products from abroad for cost savings. This fact put M&S in a cost disadvantage for a precieved higher quality.

CONCLUSION:

Business in modern days as now have to fulfill all the environmental criteria for a successful organization in it’s own field of trades. And have to be very care full how they maintain their business environment to successfully compete in this complex market.

REFERENCES:

Barnes ,R.(2015) Your M&S makes debut to back women’s range ,marketing (UK),business source premier,p3,1/3p,1c.

Thomson ,A. A. ,Strickland A.J. and Gambles, J.(2014) crafting and executing strategy :The quest for competitive advantage: concept and cases , 14th ed, Mc graw – Hill ,UK.

Stockport G.T.(2000) developing skills in strategic transformation, European journal of innovation management v3n1p45-52.

Weatherley, P.(editor) and Otter,D.(editor)(2014) the business environment:3rd ed.Oxford university press.

Worthington, I. and Britton. C.(2014) The business environment 7th ed. Harlow. Pearson.

Johnson, G . and Scholes , K . (2002) Exploring corporate strategy , 6th ed . Harlow: Pearson .Palmer , A . and Hartley ,B. (2011) The business environment 7th ed . Maidenhead: Mcgraw, Hill .Baron , p .(2012) Business and it’s environment , 7th ed . London : Prentice hall .

About the author

This paper is written by Sebastian He is a student at the University of Pennsylvania, Philadelphia, PA; his major is Business. All the content of this paper is his perspective on BUSINESS AND BUSINESS ENVIROMENT and should be used only as a possible source of ideas.

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