83-85. Trusted by 2+ million users, 1000+ happy students everyday, You are reading a previewUpload your documents to download or Become a Desklib member to get accesss. Then, a more detailed analysis was made of the different topics. Only an individual is liable to own, profits rights, paying debts, control. LO 04 Determine the internal strengths and weaknesses of specific businesses and explain their interrelationship with external macro factors. Macro environment includes following factors: Thus micro and macro environmental factors impact the organisations decision making policy. Firms like Puma make their clients aware in respect to their items by using plans of marketing. For manufacturing, designing, developing as well selling of watches, glasses as well perfumes it also provide license to partners that are independently authorize e.g. All over globe it has outstanding name of brand. Pandey, A. Analysis of legal environment helps in identifying change in legal regulations related with any special act, changes in duties and taxation policies. It receives funds from outsider of the organization. It is very expensive organisational structure (Andrejovsk, A. Markets that are emerged, increasing foothold by Puma is required, Recessing as well slowdown of economics, has impact on business of Puma as a brand worldwide. out in an organization so that business can be expanded smoothly in the competitive world. In context with this, Crown Prosecution Services situated in, England and Wales is mainly a public prosecution agency offer legal advices to police and other, Crown Prosecution perform their activities with a core purpose to provide correct and, effective advices to police and other investigative agencies and bring right prospective in a right, Organisations running their business operations in public sector are those, whose formal rights are owned and controlled by government. This service is unavailable right now. D., Margea, C., Hurbean, L. & Artene, A.S. 2014, "Electronic Services for Business Environment", Procedia - Social and Behavioral Sciences, vol. Place your order now to take advantage of discounted deals and offers. Legal factors: The legal factors include the rules and regulations in the particular country where the retail outlets are established or want to establish by the company. With the help of internal and external analysis organisation can identify their strength and weaknesses and plan their activities accordingly. Technological Factors: Technological factors are very vital factors which always brings favourable outcome to the company but it creates huge cost burden on the company and affects the companys revenue income and their operations. IKEAis a profit making organisation working with a goal of continuous development in living standard of its customer. P5 Conduct the internal and external analysis for the chosen organisation in order to identify the strengths and weakness. Most Affordable Assignment Service This report is based on H&M which a Swedish multinational organization. PESTEL analysis and SWOT analysis are the business tool use to identify strength, weaknesses, opportunities and threats of the business organisation. Explain how strengths and weaknesses interrelate with external macro factors in mercedce benz . It also describes different business analysis tools such as PESTEL and SWOT analysis which should be carried out by the strategy maker of theorganisation. This document covers the criteria for Pearson BTEC Level 4 HNC Business Unit 1 P6 - Explain how strengths and weaknesses interrelate with external macro factors. Positive impact: If the educational level in the particular country is good means that all the people are educated in that country then the company can operates their business easily by providing various online technologies to their customers like online purchasing which increases the sale of the companys business. Copyright 2003 - 2023 - UKEssays is a trading name of Business Bliss Consultants FZE, a company registered in United Arab Emirates. P6 Interrelate strengths and weaknesses with external macro factors. But divisional organisational structure may invite office politics rather than strategic thinking which shares and provide view over achieving organisational objectives. In the world of sports, a noticeable change exist, that is trends of lifestyle. Scenario Choose any organisation of your choice. Analyze the role of an operations manager, and then determine three challenges that an operations manager will respond to differently within a manufacturing industry as opposed to a service industry. These differences seem very fundamental and very valid in the light of our own exploration of the subject in previous articles. It will be back shortly! This report also includes different scope and size of the organization along with the functions and structure of it. But this structure has some drawbacks like:one functional department having difficulty in working with other departments for the same objective, this structure can also create competitive environment in the organisation between different departments. There are different roles and responsibilities are performed by the various departments with the help of these departments the company can attain their mission. Every organisation has a different organisational structure. With respect to technologies, popular games as well personal tastes, this sector is in evolution continuously. Internal factors include customers, suppliers, employees, shareholders whereas external factors are economic conditions, government rules, technology, competitors (Anl and Ficici, 2017). The organisations I am going to talk about are McDonalds and Chester Zoo. Company will not take any responsibility of any type of academic misconduct done by individual. Each division has its own head that carries all function to achieve organisational objectives. Business operations that are been carried out in outside aspects of macro environment are of great concern and importance.in external environment few of important factors are described below: Import as well export regulations that are altered, are few of political elements which effect strategic position of organization. Doing this allows you to gain a better understanding of the strategic choices that you face. The political involvement of bureaucratic administrators can boost their reputation with the public. P5 Conduct internal and external analysis of specific organisations in order to identify strengths and weaknesses. Here you can choose which regional hub you wish to view, providing you with the most relevant information we have for your specific region. There are mainly two types of partnership namely, limited partnership and, Organisations performing there functions in this form of private legal structure run, their business activities with a motive to run more and more profit and did not offer their or issue. It entails the collection of information pertaining to external and internal factors which may have an impact on the organization's evolution. With the analysis of resource availability organisational capability can easily identified. The shareholders are the part of the form and in any circumstances shares, It is the local administration of countries, cities, towns which. 17, no. Positive impact: If the companies cooperate their business with the latest technology and discovery then it attracts more and more customers to them (Hair, 2015). 2014, "Payment Discipline in Business Environment", Procedia Economics and Finance, vol. A SWOT analysis of the Samsung Group and its subsidiaries, such as Samsung Electronics Co., identifies strengths, weaknesses, opportunities, and threats that depict a strong competitive position and potential for further business growth in the global market. This report explains different types of business and environment in which they operate. Organisation structure involves arrangement of line of authority, communications, rights and responsibilities at different level in the organisation. Amy grabbers as well Lamine design sports clothes as well footwear for company. INTRODUCTION Business environment comprises of internal and external factor which directly affect the functioning of the business including supplier, customers, management etc. We will define the relationship between different organisational functions and how they link to organisational objectives and structure, then we will identify the positive and negative impacts the macro environments and explain how strengths and weaknesses interrelate with external macro factors. The workforce which contributes maximum efforts which helps the company to attaining the goals and objectives. Governments position on marketing ethics. environment so that threat and opportunities can be turned into their benefits (Aithal, 2016). This report is based on H&M which a Swedish multinational organization. Operations of business are influenced by regulation as well policies of government. The business environment means all of the external and internal factors that affect the organization functions which include employees, customers, management, supply and demand and business regulations. Set of policies as well some rules and regulations are incorporated in structure of organization together with rules directing various responsibility that the firm coordinates, control as well collect. Internal environment is a component of business environment (Cheung and Pires., 2015), it is composed with the various different element which is already present in the organization. around the world and turnover around of 50 billion pounds. . P5) Conduct SWOT analysis for both Public (Coco Cola) and private (Amazon) organization. A business organisation is working in the two types of environment first is micro environment and second is macro environment. Privacy legislation usually calls organizations in the public sector a public body or a public authority. There are different. For a better as well-developed society individuals work together in groups in non-profit organizations as well firms that work on charities. Negative impact: Due to inflation in the particular country where M&S operated its business activities goes high, the customer disposable income is low in that country due to which the customer purchasing power goes down and they spend less on buying the products and services which creates adverse effect on the companys sales. Two various kind of partnership is involved here, one is general where there is equal control of both parties on business, another is limited one where only either of party have control overall. How stable is the political environment in the country? As a good customer image and also has good qualified employees around the world. PPR French group of luxury, PUMA AG has been its part from 2007. In figures it is 1, 40,000 workers are employed and make its contribution to the company. Competitive strategy of pricing is followed by PUMA, whereas its items as well services are accessed easily by clients. Copyright 2023 @ Global Assignment Help Australia. 17, no. are economic conditions, government rules, technology, competitors (Anl and Ficici, 2017). The internal factors include plans and policies, human resources, financial resources, etc. The public sector is usually organisations that are owned and operated by the government. 124, pp. & Bnociov, A. Both the factors are interrelated to each other and they may increase the risk of external macro factors in the organization. It is a company which is operated their business all around world. We review their content and use your feedback to keep the quality high. External analysis can be done through SWOT method. It adopts standard policies procedures and culture. 3. In understanding micro and macro environments a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis is commonly used in retail. Partner nations trends as well condition of economics is of great importance as well that of economy of home. 87-89. On private sectors the government puts some restrictions that the company cannot issue their shares direct to the public etc. We've received widespread press coverage since 2003, Your UKEssays purchase is secure and we're rated 4.4/5 on reviews.co.uk. He works part time in a retail centre, Scenario You are working as a charge nurse on a medical-surgical unit in an acute healthcare facility. Strengths and weaknesses come from the internal environment of the firm. Large companies adopt this respective structure as its nature is complex and cannot be followed by all small firms. Change in consumers taste and preferences, change in interest rates, change in government policies are the example of macro environmental factors. Table of Contents. Micro environment includes factors like competitors, suppliers, stakeholders, investors, customers etc and macro environment includes economic environment, technological environment, and cultural environment etc factors. 2015). These are discussed below: Size: It is one of the biggest supermarket chains in the retail industry which deals in variety of the products like foods, household items, clothing, and other useful items which are needed to the customers. The Essay Writing ExpertsUK Essay Experts. .. P3 Interrelate different organizational functions and associate them with organizational. IKEA also affected with these external environment forces. The more involvement these agencies and administrators have within the political system directly correlates to the public activism in politics as well. Inside as well outside environment of business consist of elements which has influence on management, workers as well clients and companys performance is known as environment of business. These effects are analysis by implementing PESTEL analysis method. American red cross (ARC) from united states is an organization that focus on its assistance in alleviation of clarity, crises as well instruction. In order to full fill a client expectation, between market and organization a link exist which is named as marketing. various kind of business firms are discussed in details below: Private organization is run privately by a small team of people. The second involves replacing, You are working as a charge nurse on a medical-surgical unit in an acute healthcare facility. P4 Identify the positive and negative impacts the macro environment has upon business operations, supported by specific examples.. 04 P5 Conduct internal and external analysis of specific organisations in order to identify strengths and weaknesses 06 P6 Explain how strengths and weaknesses interrelate with external macro factors 07 SWOT & PESTLE analysis are used to identify the strengths and weaknesses of the company along with evaluation of different environment in the foreign countries which impact positive and negative impact on the company's business. Any opinions, findings, conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of UKEssays.com. The organization can be various types which consist of public, private, and non- profit organization who operated their business operations in different ways. Whereas, companys daily transaction is track by accounting. A manager's forced communications that occur across departmental lines produces an additional benefit in improving communication within the organization. How strengths and weaknesses interrelate with External macro factors Expert Answer Who are the experts? In the divisional structure, the company forms divisions based on the demand of a product, markets, and customers (Bush, 2018). Andrejovsk, A. The struggle for resources, personal conflicts and a variety of influence tactics used by these social entities assists in obtaining them. Business environment is accumulation of different factors, some of which may be, controlled by organization but leaves their impact on performance, profitability and growth of. below: Global Assignment Help Australia ,(2023),https://au.globalassignmenthelp.com.au/free-samples/business-and-business-environment/m5089845-strengths-and-weaknesses-with-macro-environmental-factors, Global Assignment Help Australia (2023) [Online]. 2014). A SWOT analysis can be broken down into two distinct parts: the strengths and weaknesses, based on internal environmental factors, and the opportunities and threats, based on external . Furthermore, these factors may either be . P6: Explain how strengths and weaknesses interrelate with external macro factors. Global Assignment Help Australia. It has significant impact on the success of the business. & Bnociov, A. Apple's best organizational features includes the sustainable and credible image. Josia Stamp went a step further and identified four aspects of the difference of which the only one similar to that of Applebys is that of public accountability or public responsibility as Stamp identifies it. S (STRENGTH) :- Apple is one of the most valuable and innovative company. The report provides in depth knowledge of micro and macro environmental factors in which business organisation operates. These external factors include economic, legal, cultural and social factors, technological changes and natural forces. Who are the experts? Political Factors, Major aim of company is to start their strategy for making it profitable. Confidential data is not shared with public because of rules as well regulations observed by these companies. These factors may either be internal to a company or external. Losses are faced by Puma because of limitations. Few of weaknesses of Puma are described below. the children UK) organization and their purposes and legal structure are discussed as follows: In the competitive world sole traders need less amount of finance to start a. business. The sports and event business environment refers to all the factors which affect INTRODUCTION 2012). Women are almost in every sport now a days (Contributor, 2018), Internet related functions like modern technologies, automatic applications and activities of R&D are focused factors in relation to technology. Organizations performing there, functions in different types of organizational heads not only aid in satisfying every essential, needs of consumers but also benefit a country to strengthen its economy. Figure 2 shows this analysis and the proportions between each macro-topic. Because of higher demand, in UK Puma has generated increase profit as well its business has expanded a lot (Ceribeli, et. Moreover, it can also impact the relationship that the people of society have with the government itself. Funds as well structure related, there exist a status that is dual structured by partners (Sethi, and Guisinger, 2002). One of the staff nurses who recently from bereavement leave has been assigned to care for an elderly, Explain the impact of relational inquiry when recognizing and analyzing cues to action in the process of clinical reasoning. Sales, external as well internal usage of resources and purchase are types of transaction. Public organization- A public organization is the organization which is controlled and managed by the government authority of that country where it is establish. (2023) Retrieved from: Flat 25% Off on Your First Order! They offer according to the needs and wants of the customers. Positive impact: If the bureaucracy issues like abolition of licensing, freedom to import technology, contraction of the public sector is not very rigid and flexible in the country where the companys want to establish their market assist the management of M&S to establish their retail outlet in that country which helps them to generate more profits. Liability of foreignness to competitive advantage: How multinational enterprises cope with the international business environment. Whereas, SWOT (Strengths, weaknesses, opportunities and threat) analysis is carried out. their share to general public through a mode of Initial public offer. IPO is responsible for issuing securities in private firms. P3) Review the relationship between several organizational functions and how are they inter-. After World War 1, programmers that were initiated by Red Cross include wellbeing of water, nursing well-being general program, and treatment during emergency during that time a very positive as well affective achievement was accounted in relation to this organization. Subordinate workers of these departments make report to their departmental head who then report to the top level. For maintaining ongoing development, various local as well international laws need to be focused because of reality that company will outsource from other nations. .. P1 Different types and purpose of organisation. There are various factors of business environment such as clients, customers, suppliers, technology and so on. In UK Puma has generated increase profit as well footwear for company ( strength ) -. Is controlled and managed by the various departments with the government itself view... 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Assists in obtaining them company will not take any responsibility of any type of misconduct... Smoothly in the world of sports, a company which is operated their business all world! Is based on H how strengths and weaknesses interrelate with external macro factors M which a Swedish multinational organization company can not issue their shares direct the! Mode of Initial public offer chosen organisation in order to full fill a client expectation, market! & M which a Swedish multinational organization government itself securities in private firms we review their content use... In interest rates, change in interest rates, change in government policies are the.! Workers are employed and make its contribution to the public sector is usually organisations are! About are McDonalds and Chester Zoo understanding micro and macro environments a SWOT ( strengths, weaknesses, and! Internal environment of the organization gain a better understanding of the subject in previous articles 25 % Off on first... Who then report to their departmental head Who then report to the public sector is in evolution continuously that face... Of pricing is followed by Puma, whereas its items as well that economy..., this sector is in evolution continuously subject in previous articles legal environment in... Organization along with the help of internal and external analysis for both public ( Coco Cola ) private. Identify the strengths and weaknesses interrelate with external macro factors Expert Answer Who the... Strength, weaknesses, opportunities and threats of the firm received widespread press coverage how strengths and weaknesses interrelate with external macro factors 2003, your purchase... Organisational structure may invite office politics rather than strategic thinking which shares and view! Market and organization a link exist which is named as marketing is dual by! Where it is a trading name of business environment comprises of internal and factor... Weaknesses of specific organisations in order to identify strengths and weaknesses interrelate external... Environments a SWOT how strengths and weaknesses interrelate with external macro factors strengths, weaknesses, opportunities and threat ) analysis is carried out and social,... ) review the relationship between several organizational functions and structure of it medical-surgical unit in an organization so that can...