Unit 1 The Business Environment M&S and NHS Assignment Help (GC01304)
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 organization helps them to fulfill their purposes
TASK 3
P5 Describe the influence of two contrasting economic environments on business activities
TASK 4
P6 Political, legal and social factors are impacting the business activities
CONCLUSION
REFERENCES
INTRODUCTION
Business environment means all of the internal and external factors that affect how the company functions including employees, customers, management, supply and demand, and business regulations (Welford, 2013). It is very necessary to properly analyze and identify the customer’s demand as per that should be producing products and supply services to them. This research report will be discussing a different type of business in which there has a major purpose. There will explain some factors which can be impacting a business firm which can be negative and positive in nature. Along with this, to effectively manage the business environment so must be implemented 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
M&S is an international company and is part of the tertiary sector. M&S is a public limited company, the public part of it means that shares can be brought by the public and this type of organization means that it has limited liability. 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.
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 profit. Running costs include anything that an 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.
M&S is a private company that it is owned by its shareholders, shareholders do not run business, instead, they have a senior management team (Atreid, Hallward-Driemeier and Pagés, 2011). The current chairman of the company ensures that all the board meetings run smoothly and helps to achieve a consensus in all the board’s decisions.
National Health Service (NHS): The NHS is a national not-for-profit organization and is part of the tertiary sector. The NHS is a public company meaning that the government owns it, it was set up in 1948 by the Labour government. The NHS is a not-for-profit business it is run mainly using money from taxation. The NHS is part of the tertiary sector meaning that it provides a service to the general population. The purpose of the NHS is to provide high-quality care for all. The NHS employs doctors, nurses, and other healthcare professionals so even though it is a not-for-profit organization it is not comprised out of volunteers.
Money from taxation is used to pay for all the running costs – staff wages, medicines, equipment, buildings, etc. The NHS is owned by the government, the department of the government that is responsible for the NHS is the Department of Health which is led by the Secretary of State for Health (Jeremy Hunt) (Blanchard, Tolbert, and Mencken, 2011). The NHS is part of the public sector and like it a not-for-profit organization they try to make the service as efficient as possible.
P2 Describe the different stakeholders who influence the purpose
A stakeholder is a person who is in an organization and is affected by the M&S in terms of strategy and project. Stakeholders can be internal or external at different levels e.g. Internal and external. List of internal and external stakeholders and explanation of what they are and who they are:
Customers: Customers of a business organization are the persons who want high-quality products and services in exchange for money. In terms of M&S, this retailer targets a number of customers towards its brand by offering quality products.
Employees: Employees are the key stakeholder of a business organization who works for the business organization and shows their best performance at the workplace to achieve the organizational goals and objectives where the business organizations give effective rewards and promotional opportunities and security to the employees at the workplace. In terms of M&S, this business organization has so many devoted and skilled employees who are responsible to work for the organization with their best effort to accomplish the organizational goals.
Suppliers: Suppliers of a business organization is the group of persons who want to be valued by the business organizations through their regular orders on time with proper payment. The suppliers of M&S get an order of different raw materials for the production of its different products.
Owners: The business owners spend huge time and money on the business. Thus, the owners or shareholders like to see their business gain a high profit. In addition, business owners also like to see their business values. The owners of M&S are responsible to invest huge money and time to see his business in a high position.
Local and National Communities: The organizations of local people often have a stake in the businesses within the community (Teece, 2010). Different financial activities, as well as events of M&S, significantly affect the local environment.
Stakeholders of NHS which influence their purpose: The health service organizations play an important part in the daily lives of the people. As a provider of health services, the activities of the health services must be appropriate. To make the activities appropriate stakeholders play a significant role. NHS works to ensure that stakeholders are regularly updated about everything significant NHS can do. The key stakeholders of the NHS are described as follows:
Employees: Employees are the persons or a group who have a great contribution to accomplish the organizational goals and objectives. They have huge influences as most of the health services are provided by the employees to maintain the services. NHS’s employees are very much skilled and experienced who give different services to their patients.
Government: Government makes a huge impact on business organizations so it is essential for the organization to make proper relevancy with them (Small bone and et al., 2010). The government is interested in M&S business due to tax, VAT issues, and employment.
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