Unit 1 The Business Environment Assignment with M&S and Oxfam (GC01255)
Table of Contents
INTRODUCTION
TASK 1
P1- Describe the type of business, purpose, and ownership of two contrasting businesses
P2- Describe the different stakeholders who influence the purpose
TASK 2
P3 Describe how two businesses are organized
P4 Explain how their style of organisation helps them to fulfil their purposes
TASK 3
P5 Describe the influence of two contrasting economic environments on business activities
TASK 4
P6 Describe how political, legal and social factors are impacting upon the business activities
CONCLUSION
REFERENCES
INTRODUCTION
In recent time, the business environment is regularly changing due to customers’ taste and market trends. That’s why all consumers want something new and attractive products and goods form the company (Welford, 2013). It is very necessary to properly analyze and identify the customer’s demand as per that should be produce products and supply services to them. This research report will be discussing about a different type of business which there has a major purpose. There will explain some factors which can be impacting business firms which can be negative and positive in nature. Along with this, to effectively manage the business environment so must be implement a better management system so all employees can systemically complete their decided task and achieve goals as well.
TASK 1
P1- Describe the type of business, purpose, and ownership of two contrasting businesses
Marks and Spencer
Main aims and purposes:
The purpose of M&S is to supply products; M&S also offers services but that isn’t their primary way of doing business. M&S is driven by profit meaning that they make sure that their sales cover all their running costs and more (for them to make a profit). Running costs include anything that the organization needs to spend money on for the company to operate. When M&S was founded the main goal was to only sell British made goods that were of high quality, this started to change in the 1990s but they continue to aim to offer high-quality clothes at a fair price.
Types of ownership:
Marks and Spencer (M&S) M&S is an international company and is part of the tertiary sector. International business is a business that operates and sells products/services around the world, M&S trades in Europe, the Middle East, and Asia. M&S is a public limited company, the public part of it means that shares can be brought by the public and the limited company part means that it has limited liability (Moutinho, 2011). Having limited liability has many advantages as it protects a shareholder from being responsible for more than their share of the company so they wouldn’t be accountable for the liabilities resulting from the bankruptcy. Being part of the tertiary sector means that M&S provides services in the form of selling groceries, clothing, and home products.
Oxfam:
Oxfam is a global charity where it aims to help vulnerable people in the developing world so they people can get power and free from problems like poverty. Oxfam was founded in England in 1942. Right now, the head once of Oxfam GB is in Cawley. The name came from the Oxford Committee for Famine Relief (Hamilton and Webster, 2015). The Committee was a group of people who were concerned for the people of Greece. The people in the group were Canon Theodore Richard Milford, Professor Gilbert Murray, and his wife Lady Mary, Cecil Jackson Cle, and Sir Alan Pimm.
Main purpose and aims:
Their objective was to help reduce the starvation of the citizens of Greece, by persuading the British government to allow food relief through the allied blockade. The purpose of Oxfam is to help create lasting solutions to the injustice of poverty. They are part of a global movement for change, one that empowers people to create a future that is secure, just, and free from poverty.
Types of ownership:
Oxfam is a confederation of 20 independent charitable organizations focusing on the alleviation of global poverty, founded in 1942 and led by Oxfam International. It is a major non-profit group with an extensive collection of operations. Winnie Byanyima has been the executive director of Oxfam International since 2013.
P2- Describe the different stakeholders who influence the purpose
A stakeholder is anyone with an interest in a business. Stakeholders are individuals, groups, or organizations that are affected by the activity of the business. There are two different types of stakeholders; internal and external. Internal stakeholders are groups within the business e.g. owner/workers and employees. External stakeholders are local and national communities and governments, these are groups outside of the business. The key stakeholders in business include customers, suppliers, employees, local and national communities, and governments (Atreid, Hallward-Driemeier, and Pagés, 2011).
Stakeholders of M&S:
The employees:
Marks and Spencer has over 10,000 employees nationally and internationally. Their employees come from different backgrounds and intellect. Employees generally will require fair treatment, secure jobs, benefits, good pay from the company. They also want protection from the company in terms of security from customers who might abuse them as part of their human rights.
The customers and consumers:
Customers are the ones who buy or purchase goods and services while consumers are the end-users of the products. Both these two groups are relevant to Marks and Spencer as a company because they want high-quality products, a wide range, and a variety of products and choices to make at affordable prices and good service from their employees.
The government:
The local and national government is in charge of making sure that Marks and Spencer create more jobs for its citizens and also pays their taxes to the government. They also help set laws and regulations that govern trading and how a company should act and deal with people. They ensure that the company adheres to strict laws set up like the Company’s acts, health and safety regulations, trading legally and revenue, and customs.
Suppliers:
Suppliers are generally other companies that provide the company with the products they need to trade. Suppliers can be either locally, nationally, and internationally depending on the products that they course. Marks and Spencer have their suppliers globally. Suppliers generally want secure contracts and fair prices for their products and services to the company………..
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