Pearson BTEC Level HNC/D Diploma Business- Unit : 1 Business Environment
This is solution of London School Business Environment Assignment Help, it is part of HNC Business course. In This assignment, with business environment, market research and economic issues are also part of it.The business environment
The business environment is ever changing however key aspects never change. The diagram below shows the business environment. Organisations have to be aware of their competitors, the industry as a whole and the wider environment. All of these factors affect the running of organisations and need to be studied as a result.
Lo1: Understand the organisational purposes of businesses
Q1.1 Identify at least four different types of organisations that exist in the U.K. Select two types of organisations from those identified and state their purposes.
Organization behavior refers to a social unit, working to achieve a common goal and as connection with the external environment.
The four organizational types in UK are
Sole Traders – The owner in this kind of organization is one person. He/she owns the legal responsibilities for the losses, bills, and record-keeping of the business.
Private Limited Companies – The members of the limited companies are its shareholders. Their liability is limited to the extent of the value of shares which they own but have not been paid for.
Public Limited Companies – This is similar to the private limited company, with the difference that a public limited company trades shares publicly in the market, like, in London Stock Exchange.
Partnerships – All of the partners in this business form share the responsibility of the business personally. They all have legal responsibility for losses of business and bills related to business.
All these organizations are required to register with HM Revenue & Customs.
The purpose with which a sole trader organization is set is providing services and earning revenue by service charges put on the customers. The purpose of public limited company is providing services and augments the shareholders’ return.
From the several organizations, four renowned UK organizations include J. Sainsbury, Standard Life, Barclays, and BT Group.
From these, I would lie to discuss about Barclays and the BT Group. Barclays’ purpose is helping people realizing what they aim at and this is done in an adequate and ethical manner. (Barclays, 2014) BT group’s purpose is bringing the best technology together with the best networks and utilizing the proficiency and knowledge of people to the optimum level. (BTPLC, 2014)
Q1.2: Select an organization of your choice and describe the extent to which this organization meets the objectives of its stakeholders.
HSBC is a popular organization, which has its origin in UK. HSBS makes consistent efforts towards meeting the stakeholders’ expectations. Stakeholder can be any party that has direct or indirect interest in the company transactions because they get impacted by the company operations. (Investopedia, 2010)
HSBC’s stakeholders, their possible objectives, and the efforts of HSBC are:
Governments – The objective of government is betterment of community.
HSBC actively conducts sustainability programs so as to provide input, and guidance to UK’s community.
Customers – The objective of the customer is product satisfaction.
HSBS puts in a lot of time for understanding the client requirements for providing accurate investment solutions.
Employees – The objective of employees is job satisfaction
HSBC endeavours actual diversity. It tries to build an open, supportive, and inclusive working environment at different organisational levels.
Non-governmental organisations and Non – Profit Organisations – The objective is to improve the conditions of the community.
HSBC works with NGOs to understand the issues and share with them the sustainability risk management.
Suppliers – The objective of suppliers is continuous business
HSBC ensures that the suppliers abide by the Ethical Code of Conduct of HSBC. It checks this through regular audits for longer relationship.
Shareholders – The shareholders’ objective is to achieve maximum return
The company keeps in contact with the shareholders regularly through meetings. So as to answer their queries and update them on the company’s status (HSBC, 2014)Contact us for assignment help