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Business environment is a combination of all individuals and various other factors which which affect overall business performance and it's sustainability. There are several factors like suppliers, government, consumer group, competitors, economic conditions, technology and various other institutions that affect functioning of business. Business environment is important aspect of any organisation and it helps business organisations to adapt these changes and take various opportunities form them. Present study has been conducted on, European Metal Recycling which engage in supplying of resources by recycling scrap metal. This company is an World's leading metal recycler and offer their services to local independent. This organisation is client of Yorkshire Bank which operate there functions as a finance and insurance in England. This bank was established in the year 1859 and headquarters in Leeds, England. This report defines overall scope of organisation their interrelationship with other organisation department. Internal strength and weakness of business and positive and negative impact of macro environment upon business functions is discussed in this project. In addition to this, different types of organisation with their legal structure are also examined.
There are various organisation like public, private and voluntary that are established with different aims and objectives. All these organisation are divided into various factors like size, scope, workers and company turnover. In this regard, three major business structure are briefly described below:
Public organisation is an essential part of country economy and are controlled by central, state and local government bodies. There are different types of public sector organisations like, departmental undertakings and government companies that aims towards satisfying consumer demands. Companies in public sector mainly focus on serving interests of general people rather than generating more profit. In this context, chosen public organisation here is Crown Prosecution Service which is a public prosecution agency.
Purpose Public Organisation: Crown Prosecution Service organisation purpose is to conduct criminal prosecutions in England and Wales. This organisation provide their services as an legal adviser to police and other investigative agencies. This organisation function their activities in Secondary sector as they take raw information that are generated by police and then advice them further.
Legal Structure of Public Organisation: Legal structure of public sector organisations are mainly classified into two different basis that are briefly described below:
Organisations that are comprised in these sector are owned and controlled by individuals and groups. Companies in this sector mainly run there business functions to make profit and raise funds. Some examples of private sector business are sole traders, partnerships and franchises. In context with this, company which is chosen here is European Metal Recycling which deals in providing ferrous and non-ferrous metal recycling services.
Purpose of Private Organisation: European Metal Recycling limited is global leading metal recyclers, they provide total waste management by converting scrap metals into best effective products and services. Main purpose of this organisation is to save environment by providing effective environmental consultancy through services provided by them.
Legal Structure of Private Organisation: Legal structure of private organisation are mentioned below:
These are non-profit organisation that are mainly established to deliver welfare services to local communities. Companies in these sectors did not work to generate profit but to provide basic necessities services to populations. In this context, organisation chosen here is Oxfam , which is an charitable organisation and aims to alleviate global poverty.
Purpose of Voluntary Organisation: Main purpose of Oxfam, is to erase global poverty. This organisation provide relief to people who are facing poverty and injustice. They provide various tools to people and help them to become self- supporting. They perform their functions in primary sector as they gather raw material like food products and clothes, pack them and deliver it to people who are in need.
Legal Structure Of Voluntary Organisation: Association and trusts are comprised in legal structure of voluntary organisation that are firmly described below:
Business environment is sum total of internal and external forces that influence functioning of business structure. All these forces can affect business performance, growth and profitability. Every organisation have different size, scope and structure and have certain purpose to accomplish their goals and objectives. Structure of different organisations are briefly described below:
These organisation are owned and controlled by individuals or group of individuals and aims towards achieving high profit. They deliver products and services by evaluating consumer needs and requirements. In relation to this, European Metal Recyclingis being chosen over here in private sector.
Public sector organisations are owned and controlled by central, state or local government. They provide their services in order to satisfy consumer needs in effective manner. Crown Prosecution Service organisation is a principle public prosecution agency. They conduct criminal prosecutions in Wales and England.
These are non profit organisation that are mainly established for society welfare. In relation with this, Oxfam is chosen over here in Voluntary organisation.
Every organisation have separate department who perform their business functions effectively. Despite of having different functions purpose of all these departments are same that is, to achieve growth and increase sustainability and profitability of business unit. In this regard, it is important for chosen organisation European Metal Recycling to perform their business functions like finance, marketing and human resource effectively to increase their profit. Relationship between different organisational functions in European Metal Recycling are mentioned below:
Marketing Department: Marketing is related to conducting research and promote goods and services in a marketplace. It is important for European Metal Recycling marketing department to perform their functions closely with other department to ensure stability in business operations. For instance, in this organisation marketing department need to perform their activities relatively with production department in order to make sure that effective research is planned accordingly to satisfy present and future consumer needs. Marketing department can set deadlines so they can get finished products as soon a possible to gain competitive advantages.
Human Resource Department: Human resource deals in recruiting right candidates for right job. In relation with this, European Metal Recycling human resource department is inter related with other department to ensure growth and stability. For example, HR department helps marketing team to find out various tactic in branding and promoting. They help production department in order to come up with innovative and new products ideas and set effective production targets. This will benefit organisation to increase their quality of products.
Finance Department: Major function of finance department is to provide financial security and stability to business organisation. In relation with this, it is essential for European Metal Recycling finance department to closely relate with other departments in order to find out any kind of budget and financial need related to promotion, research and distribution. For instance, finance department in this organisation is inter related with marketing department to examine funds required by them to perform their branding and promotional activities. They also need to ensure that all departments in the organisation perform their work within allocated budget. This will reduce wastage of unnecessary cost and firmly promotes organisational profitability.
In order to satisfy consumers and expand area of services it is essential for Yorkshire Bank to determine their internal an external factors. Evaluation can be done with he help of PESTAL that are firmly described below:
Political Factors: Political factors includes rules and regulations by government. All factors included in this can put adverse impact on business on so many ways. It is essential for managers to address all these factors and make effective decisions to decrease impact of all political factors.
Positive Impact: Political factors can influence emergence of new technologies. It is essential for an organisation to be ready in order to deal with outcomes of politics. As it will benefits in trade control, data protection law, environment law, employment law and tax policies.
Negative Impact: As there are periodically change in government regulation this can results in mitigation of risk. This can become an obstacle in organisation growth.
Economic Factors: Economic factor can help or hinder business organisations to achieve their objectives. Consumer behaviour, banking, employment factors and interests rates are some of the economic factor that affect business functioning.
Positive Impacts: If a country is economically strong and people have balanced standard of living then it will make population to buy various goods and services. This will automatically increase company sale and comparatively results in enhancing their profitability.
Negative Impacts: Economic crises and decrease in buyers power of purchasing results in adversely affect in business productivity rate.
Social Factors: Social factors can impact on overall business functioning. Some of these factors are, economical, environmental, technological, legal and ethical.
Positive Impact: By taking care of society cultural belief system and practices their customers and traditions company can increase their brand image.
Negative Impact: If an organisation does not follow CSR activities in appropriate manner then it will become hard for them to run their business functions effectively.
Technological Factors: These are externally generated changes in the area of technological process. Technological factors can negatively or positively affect business function.
Positive Impact: With the advancement in technology company can increase their quality of productions and functions nationally and globally.
Negative Impact: As technology is dynamically changing in current scenario. So, in order to implement various new technology lot of cost is required by organisation
Environmental Factors: This factor can affect any type of business whether it is small and big operating business unit. This factor can collectively impact on functioning of business. Environmental factors include risk in climate change, geographical change in location and socio culture change.
Positive Impact: Company can use eco-friendly structure in their business organisation for examples furnitures and machines to save environment.
Negative Impact: Climate change and frequent frequent change in geographical locations can affect performance of employees.
Legal Factor: As competition in market is continuously increasing, it is essential for Yorkshire Bank to abide all legal laws and regulations laid down by government in their particular area of working. This will help them to start their business in new market segment.
Positive Impact: If an organisation timely take care of every legal rules and regulations that includes employment safety and heath safety act, it will benefits them to create positive working environment in their workplace.
Negative Impact: As government periodically keeps on changing and modifying their laws and regulations. It will become hard for an organisation to cope up with all legal regulations this will results in slow down of business functions in day-to -day operations.
Yorkshire Bank is an UK based organisation and deals in intensive range of services which includes financial services, commercial banking, marketing personal and other financial product and services. In order to identify strength, weaknesses, threats and opportunities of this firm, it is essential to conduct SWOT analysis which is briefly done below:
·Yorkshire is a trading division bank operating in England.
·This banking unit is having strong balance sheet which results in high capitalization.
·This banking division is having net interest income up to 14.6% to 769 million euros.
·Yorkshire bank is having well trained and professional manpower that results in efficiency in services provided by them.
·Most of their branches are fully computerized and technically developed.
·Yorkshire bank provides online banking facility to their customer in order to enhance their quality of services.
·In order to train their employees in best suitable manner. Yorkshire bank have separate training centres.
·Financial position of this bank is growing every year.
·Yorkshire bank is having various opportunities to expand their business operations by adding more geographical locations in both domestic and international market.
·This banking unit can enable new and innovative factors in their technological aspects.
·Bank can grow their area of service in commercial banking industry.
·Yorkshire banking industry can expand their area of service. For example they can open their new branches in rural areas.
·As there is increase in demand of account opening, import, loan and life insurance schemes bank can expand their services in various sectors.
·There are lack of investment environment or culture in society.
·There are high growth in smart phone user and society is accepting digital media for various services. Yorkshire bank can increase awareness about their services on digital platform to their consumers in order to increase their productivity.
·Al through Yorkshire bank is having high networking system but they are confined to less number of branches.
·High rate in employee turnover results in decrease in stability in their working environment.
·Yorkshire bank is having less exposure in global business as compare to other financial firms.
·Most of their banking branches are situated in urban areas which hamper their growth of services in rural segments.
·Brexit ambivalence can harm functioning of mainly all banks in United Kingdom.
·Regular advancement in Digitalisation continuously disrupt future challenges of Yorkshire bank.
·Government rules and regulations keeps on pressurising new capital requirements for this bank.
·There are large amount of increase in online scams that results in difficulties to secure data of clients.
·There are high involvement of political parties in decision making process of banking sector.
Every organisation those who are providing their services in order to satisfy needs and demands of consumer have to face challenges in both internal and external market. All those factors include in these market can hamper growth of these organisation and create numerous obstacles in their profit retention. It is essential for every organisation whether it is small or large to identify their strength and weaknesses in order to effectively over come them and enhance their productivity and profitability. In relation with, Yorkshire bank this organisation mainly aim towards expanding their services and satisfy their consumers at it's best. Mentioned below thee are an inter relational of strength and weaknesses of macro environment mentioned below:
In this report, conclusion are made on business environment which is a sum total of internal and external forces that affect overall functioning of business organisations. As business environment is dynamic, complex and uncertain it is important for business persons to recognise all forces and analyse their effect on firms. Main findings in this project is size, scope and structure of organisations that are wide and serves consumers effectively to gain competitive advantages in best manner. Along with this, present study proves inter relationship with different organisation functions in order to perform business activities smoothly. There are some negative impacts of macro environment on business operations in order to which it is essential for business organisations to find their strength and weaknesses to perform effectively. Hence, to gain more competitive advantage in marketplace it is essential for each and every business organisations to evaluate all internal and external factors and then develop effective strategies to achieve high growth and profitability.
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