Business Environment Essay

In: Business and Management

Submitted By gulshan
Words 489
Pages 2
There are a variety of legal types of organizations, including corporations, governments, non-governmental organizations, international organizations, armed forces, charities, not-for-profit corporations, partnerships, cooperatives, and universities. A hybrid organization is a body that operates in both the public sector and the private sector simultaneously, fulfilling public duties and developing commercial market activities.

In the social sciences, organizations are the object of analysis for a number of disciplines, such as sociology, economics, political science, psychology, management, and organizational communication. The broader analysis of organizations is commonly referred to as organizational structure, organizational studies, organizational behavior, or organization analysis. A number of different perspectives exist, some of which are compatible:

From a process-related perspective, an organization is viewed as an entity is being (re-)organized, and the focus is on the organization as a set of tasks or actions.
From a functional perspective, the focus is on how entities like businesses or state authorities are used.
From an institutional perspective, an organization is viewed as a purposeful structure within a social context.

Sociology can be defined as the science of the institutions of modernity; specific institutions serve a function, akin to the individual organs of a coherent body. In the social and political sciences in general, an "organization" may be more loosely understood as the planned, coordinated and purposeful action of human beings working through collective action to reach a common goal or construct a tangible product. This action is usually framed by formal membership and form (institutional rules). Sociology distinguishes the term organization into planned formal and unplanned informal (i.e. spontaneously formed)…...

Similar Documents

Business Environment

...What Is Business Environment? Meaning: - The term Business Environment is composed of two words ‘Business’ and ‘Environment’. In simple terms, the state in which a person remains busy is known as Business. The word Business in its economic sense means human activities like production, extraction or purchase or sales of goods that are performed for earning profits. On the other hand, the word ‘Environment’ refers to the aspects of surroundings. Therefore, Business Environment may be defined as a set of conditions – Social, Legal, Economical, Political or Institutional that are uncontrollable in nature and affects the functioning of organization. Business Environment has two components: 1. Internal Environment 2. External Environment Internal Environment: It includes 5 Ms i.e. man, material, money, machinery and management, usually within the control of business. Business can make changes in these factors according to the change in the functioning of enterprise. External Environment: Those factors which are beyond the control of business enterprise are included in external environment. These factors are: Government and Legal factors, Geo-Physical Factors, Political Factors, Socio-Cultural Factors, Demo-Graphical factors etc. It is of two Types: 1. Micro/Operating Environment 2. Macro/General Environment Micro/Operating Environment: The environment which is close to business and affects its capacity to work is known as Micro or Operating Environment. It consists of......

Words: 2497 - Pages: 10

Business Environment

... 1. Introduction page 2 2. The external environment page 3 3. Three models of relations between the company and the external environment page 7 4. Analysis of internal environment page 8 5. Conclusion page 9 6. References page 9 1. INTRODUCTION From the characteristics of the company as a technological and open economic system, it follows that the relations with the surroundings are basis of its operation and development. Just like the company that is subject to changes, so is the environment, which leads to changes of mutual and dependent direct and indirect relationships. The environment is a factor in the survival and effectiveness of the function and effectiveness of enterprise development. Creating a proper business and social environment in which firms operate normally, grow and develop is the permanent task of any government if it wants to ensure economic growth and prosperity of the country. It is beyond any doubt that the developed market environment is the starting point for the construction of the market system. You need to know that the institutional arrangements and economic and systemic mechanisms in successful economies of most developed countries (Japan, USA, Germany ...) essentially differ with each other. Thus, we conclude that there is no universal model of the economy that can be applied to any other country. Immediate environment consists of internal and external stakeholders.......

Words: 1921 - Pages: 8

Business Environment

...LO1 Understand the sources of finance available to a Business Finance is the most vital thing to run the business. Companies operating as commercial entities must have sufficient cash balances to facilitate their smooth operations. Cash requirement can be raised from different sources, ranging from equity, various forms of debt, to internally generated funds through retained earnings which would otherwise be distributed to shareholders (Myers and Myers, 1991; J. Gitman, 1991). The sources of finance can be classified as Internal and External, Short-term and Long-term or Equity and Debt (Bromwich & Bhimani, 2009, pp.45). The two main sources of finance for business include internal and external sources. The business managers decide which form of financing to be used in the business (Klammer, 2003, pp.35). Internal Sources of Finance Personal funds - utilized by sole traders and partnerships. Owner takes on risk of losing their money. Family and friends - utilized by sole traders and partnerships. Friends can not only lose money but also harm relationships Selling assets - Dormant (unused) assets are typically sold. Selling of fixed assets that are currently in use may solve liquidity problems but create future production problems. Retained profit - Profits reinvested back into the business External Sources of Finance Share capital - limited companies selling shares. #1 way for limited companies to raise money and can provide up to billions. Venture capital -......

Words: 5525 - Pages: 23

Business Environment

...1 Virgin Group Limited Founded in 1970 as Virgin Records, the Virgin Group Limited has expanded to a humongous organization comprising of more than 200 companies in 2007. Its business portfolio ranges from air travel, fitness centers, and mobile telephony. Since its inception, the culture and image of Virgin Group has been directly attributed to the personality and efforts of its owner and founder, the high-ranking executive and entrepreneur Sir Richard Branson. It makes no sense to delink Virgin Group from Sir Branson. In fact, the name Branson is almost becoming synonymous with Virgin Group (Grant 2004, pp. 16). This essay aims to provide several aspects of Virgin group. These include the critical analysis of its organizational model, the leadership of Sir Richard Branson and eventually organization’s communication. Discussion Virgin Group is made up of more than 200 companies, which employ nearly 50,000 people all over the world. The business has witnessed continual growth since it was started. The revenues reached a record mark of 10 billion sterling pounds in the year 2006. This reveals the magnitude and level of business in which Virgin Group is operating. The nature of leadership in existence in Virgin Group draws many features from the personality of Sir Richard Branson. The business philosophy postulated by Sir Richard Branson believes that the ultimate results of customer satisfaction and shareholders’ gain is the responsibility of every individual. He......

Words: 4895 - Pages: 20

Business Environment

...BUSINESS ENVIRONMENT UNIT:1 Introduction Business may be understood as the organized efforts of enterprises to supply consumers with goods and services for a profit. The following essay contains some details about the business environment such as types of organisations, EU rules and regulations policies of the market control. 1.1 Identify the purposes of different types of organisation. 1. Sole traders The sole trader is a common form of business ownership and is found in a wide range of activities such as painter, plumber, cleaner. Business has only one owner who responsible for all the expenses and legal requirements. Difficult to raise finance, also owner has unlimited liability. 2. Partnership Partnership is a business with at least two or more owners up to twenty. Partnerships are particularly common in professional services such as solicitors accountant. Owners enjoy limited liability, share their skills, and work allowing them to raise capital more quickly than individuals. 3.Private Limited Company (LTD) The Company is an artificial person made by law, offers limited liability. The major private limited company’s restrictions are about the shares and shareholders. Shares cannot be sold or transferred to the public. Shareholders enjoy priority against others in buying shares within the company. Example J. Whitaker & Sons Ltd 4 Co-operative The co-operative is a group of people working together, making decisions together to reach......

Words: 3378 - Pages: 14

Business Environment

...Business Environment of China Unawareness is a state that results due to lack of attention or knowledge concerning a particular aspect. Usually, it may result due to forgetfulness or may as a result of unconsciousness. As a result, it causes one to have limited information about one self or the surrounding. In most cases, nescience is often confused with denial which is the inability to cope with a stressful circumstance psychologically. In most social life the lack of knowledge can cause huge loss to individuals and the society in general. Medically nescience is associated with various illnesses and may result in increase of certain behavior such as denial and violent behaviors. This essay will discuss the negative implications nescience in workplace safety can have on company success.  Anosognosia is the term used to describe nescience of illnesses. Unawareness of certain illness causes one to be unable to identify warning symptoms. For instance hypoglycemia nescience causes individuals to be unable to identify the warning signals signifying low blood sugar. They thus do not take any precautions of treating the low glucose level until it is too late. In most cases due to nescience of the warning symptoms such people end up realizing they are low in glucose level when it is too late.   In another aspect, the lack of knowledge may result to development of certain medical condition such as Huntington’s disease. This disease results when an individual is unable to...

Words: 593 - Pages: 3

Business Environment Marks and Spencer Essay

...London School of Business & Management BTEC Levels 4 & 5 HND Business Centre No Unit No & Unit Title Course Title Lecturer’s Name Assignment Title & Type Date Set Due Date Academic Year / Semester 79829 Unit 1: Business Environment HND Business (BTEC Level 4 and Level 5) Dr Knowledge Mpofu Business Environment – Individual Assignment 24th September 2014 9th January 2015 September 2014 Semester Unit Outcomes Covered: LO1. Understand the organisational purposes of businesses LO2. Understand the nature of the national environment in which businesses operate LO3. Understand the behaviour of organisations in their market environment LO4. Be able to assess the significance of the global factors that shape national business activities. GRADING OPPORTUNITIES AVAILABLE Outcomes/ Grade Descriptors Outcomes/ Grade Descriptors AC1.1 √ AC4.1 √ AC1.2 √ AC4.2 √ AC1.3 √ AC4.3 √ AC2.1 √ M1 √ AC2.2 √ M2 √ AC2.3 √ M3 √ D1 √ AC3.1 √ AC3.2 √ D2 √ AC3.3 √ D3 √ Assessor: Signature: ______________ Date: ___/___/___ Dr Knowledge Mpofu September 2014 1 Assignment Brief Scenario: The UK business environment remains positive, forward-looking and one of the most attractive places open for business in Europe. The UK government is committed to creating a supportive business environment that encourages a private-sector-led economic growth. According to the World Bank ranking, the UK is one of the easiest places to set up and run a business in Europe, and more overseas......

Words: 2199 - Pages: 9

The Business Environment

...Course Title | BTEC Level 3 Nationals in Business | Unit Title | The Business Environment (60 hour unit) | Level | 3 | Unit Number | 1 | Unit Credit | 10 | Assignment Title | Business Types and their Stakeholders | Part Unit | P1, P2, M1 and D1 | Whole Unit | No | Learner Name | | Signature | | Assessor | Scott Haragan; Des Corliss; Barbara Mercer | Signature | | Start Date | 17/11/14 | Submission Date | 10/12/14 | Feedback Date | 09/01/15 | | | | | | | Vocational Context | It is important to understand the business environment, most notably the wide range of business organisations in the private and public sectors. It is also important to appreciate the differences between them in terms of ownership, funding/finance, and the overall aims and objectives of major stakeholders. | The Brief | ------------------------------------------------- Task 1: A family friend has been operating his own small fashion clothing business (KH Fashions) that has been trading for five years. He has decided to expand the business and has asked you to research different businesses. He wishes to explore different business types in the public and private sectors including local authority organisations and charities (as one of his options is to pursue a social-enterprise route) and because he wants to do this in a professional way, has asked you specifically to research different business types in terms of their ownership, financing, sectors, aims and......

Words: 683 - Pages: 3

Business Environment

... Business environment Introduction Business environment is the combination of two factors internal and external. These two factors influence a company’s operating situation. In other words business environment is the sum of living person, location and natural resources. In business environment internal factors include five M’s such as, man, material, money, machine and management. These internal factors change the function of business. External factor are those factors which are beyond the control of business enterprise. These external factors are government factors, legal factors, physical factors and demographical factors. External environment or factors are also two types, micro environment and macro environment. Micro environment consist of suppliers, customers, market intermediaries, competitors and public. Micro environment is also known as operating environment. Another external environment or factors macro environment consists of non-economic environment, political environment, technological environment and socio-cultural environment etc. Business environment has some typical characteristics. It is a constantly changing system. Both short term and long term impact works on business environment. One of the most important characteristics of business environment is uncertainty. Task1 1(a) Identify the purposes of different types of organization There are many different types of organization in our socio-economic life. One organization is different from another......

Words: 2647 - Pages: 11

Business Environment

...ASSESSMENT FRONT SHEET LONDON SCHOOL OF COMMMERCE AND IT Programme: BTEC Higher National Diploma in Business Unit Title: Business Environment Unit Code-: Y/601/0546 Credit Value: 15 QCF Level: 4 Module Tutor: Dr. M K Newaz Email: SCOPE OF THE COURSEWORK Learning outcomes and criteria covered by this assignment: • All pass criteria (P1-P12) • All merit descriptors (M1-M3) • All distinction descriptors (D1-D3) Key dates Distribution date: 15/09/2014 Submission date: 12/12/2014 Introduction The aims of this assignment are to measure the outcome of students’ learning in terms of knowledge acquired, understanding developed and skills or abilities gained in relation to achieve the learning outcomes. This assignment contains a real life scenario of a firm, which is already in the market for long and practicing business under nearly perfect competitions. You are expected to write an assignment analysing different factors which affects a business organisation and what are their short term and long term effects. While doing so you need to take in account the different Govt policies and their impact on the business. Assignment criteria PASS CRITERIA 1.1 Identify the purposes of different types of organization (P1) 1.2 Describe the extent to which an organisation meets the objectives of different stakeholders (P2) 1.3 Explain the responsibilities of an......

Words: 4678 - Pages: 19

Business Environment

...BTEC Level 5Higher National Diploma (HND) in Business Unit 1 : Business Environment Unit Code : Y/601/0546 Assignment No : 1 Assignment Title : Assessment of Business Environment for an organization of your Choice Date Set : 10/10/2014 Due Date : 25/12/2014 Learning Outcome Covered: 1. Understand the organisational purposes of businesses 2. Understand the nature of the national environment in which businesses operate 3. Understand the behaviour of organisations in their market environment 4. Be able to assess the significance of the global factors that shape national business activities Grading Opportunities Available: Outcomes/Grade Descriptors | P 1.1 | P1.2 | P 1.3 | P 2.1 | P 2.2 | P 2.3 | P 3.1 | | | | | | | | | Outcomes/Grade Descriptors | P 3.2 | P 3.3 | P 4.1 | P 4.2 | P 4.3 | M 1 | M 2 | | | | | | | | | Outcomes/Grade Descriptors | M 3 | D 1 | D 2 | D 3 | | | | | | COMMENTS: P (PASS) – Learner should able to demonstrate the ability to explain each outcome as per to the Assessment information page of this assignment. M (MERIT) - Expected Qualities of the Learner’s work at Merit level will be accordingly to the merit descriptions of this assessment information page. D (DISTINCTION) – Expected Qualities of the Learner’s work at Distinction level will be accordingly to the distinction descriptions of this assessment information page. Assessor: Afzal......

Words: 1426 - Pages: 6

Business Environment

...Course: BTECH – HND – Business (Management) Year: 2015/2016 Name: Susantha Suwandaratne Subject: Unit 01: Unit 01: Business Environment Complete Date: 4th Of January 2016 Words between 2500 and 4000 _______________________________________________________________ Task 1 - Understand the organisational purpose of business ___________________________________________________________________________ 1.1 Identify the purpose of four different types of organisation. 1.2.1 Introduction Business organisation is formed of relationship, responsibility and authority, which aims to meet their targets and ultimately achieve them. Organisations are formed by people for two main purposes. An organisation can be formed by a person or a group of people aiming to make a profit. In the same way a person or a group of people can start an organisation with the purpose of providing services to themselves or for the society with the main purpose of running the business is not a profit. According to Buchanan and Huczynski an organisation is described as 'A work organisation is a social arrangement for the controlled performance of collective goals' (Buchanan and Huczynski, (2004). The Business Dictionary defines the organisation as ‘a social unit of people that is structured and managed to meet a need or to pursue collective goals’. All organisations have some function to perform and they exist in order to achieve...

Words: 2155 - Pages: 9

Business Environment

...Business Environment 1 Final Essay 2014 – 2015 Section 1: PEST Analysis Technique * Section 1.1 Social environment is the sign of the human spirit civilization and material civilization’s development. On the basis of the natural environment, through long-term conscious social labor, human beings have been processing and transforming the natural material and then social environment was formed. Social environment as one of the external environment factors has a great influence on business. With lasting changes in social environment that will cause demand of human beings for new products. (Haider, 2010) As a result, social environment will give marketing a new guidance. And demographic and cultural will be included as two main factors in social environment. Demographic is to gather people in groups that share with same common criteria. Because of the variables of demographic, demographic is divided in many parts. Such as age, gender, income, race, religion. (Naik, 2013) Cultural is the values and ideologies of a particular group of individuals. And it consists of languages, regions, habits, arts and so on. (Zimmermann, 2015) Besides, both demographic and cultural have direct link with marketing. Demographic will direct determine the potential capacity of the market. What’s more, the structure of population age and the level of education will have profound influence on market structure. Due to different cultural will cause different consumption concept, so cultural will......

Words: 2345 - Pages: 10

Environment of Business

...To be completed by the student To be completed by the markers Module Name and code First Marker’s name (equivalent to the signature) Environment of Business BUZB400 Student ID (UoW) Student ID (WIUT) Deadline date Individual assignment Group assignment 00002655 14.11.2013 Second Marker’s name (equivalent to the signature) For Registrar’s office use only (hard copy submission)   COURSEWORK SUBMISSION COVER PAGE Submission instructions Please note that all work must be submitted electronically unless instructed otherwise. For online submission instructions refer to: - Coursework online submission instructions.doc For hardcopy submission instructions refer to: - Coursework hard copy submission instructions.doc Feedback To be completed by markers Assessment criterion and/or learning outcome 1. 2. 3. Marker’s comments and second marker’s comments if appropriate Westminster International University in Tashkent 2013-2014 Academic Year, Semester 1 Written Assignment Environment of Business BUZB400 ID #00002655 Table of Contents Written Assignment on Happiness plc ...................................................................................................... 2 Reference List ...........................................................................................................

Words: 2482 - Pages: 10

Business Environment

...affected by their environment, have a structure that has both formal and informal elements. (Armstrong, 2012) An organization is formally defined as a collection of people working together in a division of labour to achieve a common purpose. This describes a variety of clubs, voluntary, organizations and religions besides as well as entities such as small and large businesses, labour unions, schools, hospitals and government agencies. (G.Hunt et al, 2003) An organization is an arrangement of people pursuing common goals and achieving results following the standard and rules of the business. There are various levels of management and division of responsibility inside an organization each working through their own tasks. Private Limited Company- This is a company which is owned and controlled by shareholders who know each other, they can be friends and relatives. There is no minimum capital required to start up this type of business and their shares are not sold on the stock exchange market. Benefits of being a Private Limited Company (PVT LTD) * In this type of organization the shares are sold to large number of individuals. This leads to large sum of capital which will result in expansion. * All shareholders have limited liability- It means if there is a loss in the business the owners do not have to compensate by selling their personal property. * The organization can enjoy its benefits of being big. * The people who start the business are able to......

Words: 5480 - Pages: 22