This document discusses key concepts relating to business and the business environment, including:
1) It outlines different types of organizations (e.g. sole trader, partnership, private/public limited companies), sizes of organizations (e.g. micro, small, medium, large), and the scope and legal structures of businesses.
2) It examines the functions within an organization like marketing, finance, operations, and HR, and how they are related and link to organizational structure.
3) It covers other important business topics such as objectives, stakeholders, market share, profit sharing, growth, sustainability, and the influence of market forces/the economy on businesses.
Unit 1: Business and Business EnvironmentMaruf Bappy
The business environment is the combination of ‘Business’ and ‘Environment’. Business Environment is the surroundings of business where the business operations are operated and affected. The success of Business highly depends on proper use of the environment. Many factors affect the business operations and the product line. The assignment has been prepared with scrutinization of the business environment of the top retailing business Asda. The analysis of the macro factors for Asda has been shown in the assignment. As a leading retailer, Asda devotes its effort to retain their current position in the industry where it operates and in this regard, it is essential to understand overall business environment which affects company’s operation. Throughout this work, a brief overview of the business and business environment of Asda is illustrated.
International business; competitive advantages; evolution; nature of international business; reasons and stages of internationalisation; approaches and theories of international business; comparative cost advantage and problems of international business.
Unit 1: Business and Business EnvironmentMaruf Bappy
The business environment is the combination of ‘Business’ and ‘Environment’. Business Environment is the surroundings of business where the business operations are operated and affected. The success of Business highly depends on proper use of the environment. Many factors affect the business operations and the product line. The assignment has been prepared with scrutinization of the business environment of the top retailing business Asda. The analysis of the macro factors for Asda has been shown in the assignment. As a leading retailer, Asda devotes its effort to retain their current position in the industry where it operates and in this regard, it is essential to understand overall business environment which affects company’s operation. Throughout this work, a brief overview of the business and business environment of Asda is illustrated.
International business; competitive advantages; evolution; nature of international business; reasons and stages of internationalisation; approaches and theories of international business; comparative cost advantage and problems of international business.
Today news channels are not only providing information about the company but also avails different kind of knowledge. In such context, the present research report is being framed which is emphasizing on strategic analysis of MSNBC. It is the America’s largest broadcasting organization that facilitates different type of information to the customers about several aspects. The present research report is focusing on the strategic analysis of MSNBC in which the marketing strategies of its competitors are mentioned. The company is also provided with some recommendations for the purpose of building the brand image of the company in different markets. The company has been trying to expand the business in other countries in which they are framing different marketing strategies as that will also help in getting greater market share. Based on such analysis, the report is going to use strategic options for business development.
This PPT is designed with the objective of giving insights into marketing elements (Product, Price, Place & Promotion) in International Marketing, entry modes, and other related topics.
The other major topics discussed are mentioned below. This PPT is designed with simple words for the benefit of UG and PG students
International Marketing-Motives, Characteristic and advantages, Transitional stages in international Marketing,Management orientation in International Marketing
Global Marketing Information System, International Marketing research, International Marketing Entry Stages
Product Decisions, New Product Development, Geographic Expansions, Strategic Alternatives
International pricing Objectives and strategies, Transfer pricing, International Marketing Channel, Channel Terminology, Physical Distribution and Logistics, Global Advertising and Branding, Public Relation, Personel Selling, Sales Promotion , Direct Marketing, Trade Shows and Exhibitions
11 The Strategy of International BusinessBrent Weeks
To evaluate industry structure, firm strategy, and value creation
To profile the features and functions of the value chain
To assess how managers configure and coordinate a value chain
To explain global integration and local responsiveness
To profile the types of strategies firms use in international business
Today news channels are not only providing information about the company but also avails different kind of knowledge. In such context, the present research report is being framed which is emphasizing on strategic analysis of MSNBC. It is the America’s largest broadcasting organization that facilitates different type of information to the customers about several aspects. The present research report is focusing on the strategic analysis of MSNBC in which the marketing strategies of its competitors are mentioned. The company is also provided with some recommendations for the purpose of building the brand image of the company in different markets. The company has been trying to expand the business in other countries in which they are framing different marketing strategies as that will also help in getting greater market share. Based on such analysis, the report is going to use strategic options for business development.
This PPT is designed with the objective of giving insights into marketing elements (Product, Price, Place & Promotion) in International Marketing, entry modes, and other related topics.
The other major topics discussed are mentioned below. This PPT is designed with simple words for the benefit of UG and PG students
International Marketing-Motives, Characteristic and advantages, Transitional stages in international Marketing,Management orientation in International Marketing
Global Marketing Information System, International Marketing research, International Marketing Entry Stages
Product Decisions, New Product Development, Geographic Expansions, Strategic Alternatives
International pricing Objectives and strategies, Transfer pricing, International Marketing Channel, Channel Terminology, Physical Distribution and Logistics, Global Advertising and Branding, Public Relation, Personel Selling, Sales Promotion , Direct Marketing, Trade Shows and Exhibitions
11 The Strategy of International BusinessBrent Weeks
To evaluate industry structure, firm strategy, and value creation
To profile the features and functions of the value chain
To assess how managers configure and coordinate a value chain
To explain global integration and local responsiveness
To profile the types of strategies firms use in international business
Business organization consists of several branches & each sector has its own authorities
®arding responsibilities. In UK there are multifarious types of businesses along with different
structural operations. These businesses can be differentiated through their respective visions &
goals. Accounting is important for an organization because it shows the organisations success
and failure in numbers. Owners and the managers can get a clear idea about the organisations.
Customer relationship can be very helpful as well.
Business ethics forms of business organizations abm specialized subjectGian Paulo Rabanal, LPT
Business Ethics and Social Responsibility
based on the book Business Ethics and Social Responsibility by A. Racelis
Learning Competencies Covered:
ABM_ESR12-IIIa-d1.1
ABM_ESR12-IIIa-d1.2
ABM_ESR12-IIIa-d1.3
Entrepreneurship and Small Business Management-by Tausif Mulla.docxkhanpaulita
Entrepreneurship and Small Business Management
-by Tausif Mulla
1
Learning Outcome 01:
Explore and illustrate the range of venture types that might be considered entrepreneurial
Learning Outcome 02:
Assess the impact of small business on the economy
Learning Outcome 03:
Determine and assess the key aspects of an entrepreneurial mindset.
Learning Outcome 04:
Examine the different environments that foster or hinder entrepreneurship
2
Concept of Entrepreneur
Who is an 'Entrepreneur‘?
An entrepreneur is an individual who, rather than working as an employee, runs his/her own business and assumes all the risks and rewards of a given business venture.
Entrepreneurship is the propensity of the mind to take calculated risks with confidence to achieve a pre determined business or industrial objective.
It is the risk taking ability of an individual coupled with correct decision making.
3
Who is your favorite entrepreneur?
Concept of Entrepreneurship
4
https://www.youtube.com/watch?v=VkQw4NQk2YE
5
Motivation
Passion
Creativity and Persuasiveness
Versatility
Superb Business Skills
Risk Tolerance
Drive
Vision
Flexibility and Open-Mindedness
Authoritativeness
Characteristics of an Entrepreneur
Source: https://www.monster.com/career-advice/article/entrepreneur-traits
6
https://www.youtube.com/watch?v=s7N-9E_e-wk
7
8
Activity
Search for famous entrepreneurs and briefly talk about their ventures
9
Hardworking
Energetic
Resourceful
Visualizes change (ex: Chromebooks by Sundar Pichai)
Planner and believes in systematic work
Motivation towards achievement
Creative
Clarity
Confidence
Dreamer
Instinct
Qualities of Entrepreneurs
10
Joseph A Schumpeter view’s
The Entrepreneur is an individual who introduces something new in the economy-
A method of production not yet tested by experience in the branch of manufacturing.
A product which the consumers are not yet familiar (Ex: Tesla solar roof tiles)
A new source of raw material (Ex: New processor for mobiles)
New market (Ex: Tata Nano in European market)
11
Peter Drucker’s views
Entrepreneurs are innovators.
Entrepreneur is one who always searches for changes, responds to it as an opportunity. Ex: Mark Zuckerberg
Innovation is a specific tool of an entrepreneur hence an effective entrepreneur converts a source into a resource
12
Scope of Entrepreneurship
Perception of market opportunities (original or imitative).
Gaining command over scarce resources.
Marketing of the product and responding to competition.
Dealing with the public bureaucracy (concessions, licenses, taxes).
Management of human relations within the firm.
Management of customer and supplier relations.
Financial management.
Production management records, supervision, coordinating input flows with orders, maintenance.
Acquiring and overseeing assembly of the factory.
Industrial engineering (minimizing inputs with a given production process).
Upgrading processes and product q.
Entrepreneurship and Small Business Management-by Tausif Mullacullenrjzsme
Entrepreneurship and Small Business Management
-by Tausif Mulla
1
Learning Outcome 01:
Explore and illustrate the range of venture types that might be considered entrepreneurial
Learning Outcome 02:
Assess the impact of small business on the economy
Learning Outcome 03:
Determine and assess the key aspects of an entrepreneurial mindset.
Learning Outcome 04:
Examine the different environments that foster or hinder entrepreneurship
2
Concept of Entrepreneur
Who is an 'Entrepreneur‘?
An entrepreneur is an individual who, rather than working as an employee, runs his/her own business and assumes all the risks and rewards of a given business venture.
Entrepreneurship is the propensity of the mind to take calculated risks with confidence to achieve a pre determined business or industrial objective.
It is the risk taking ability of an individual coupled with correct decision making.
3
Who is your favorite entrepreneur?
Concept of Entrepreneurship
4
https://www.youtube.com/watch?v=VkQw4NQk2YE
5
Motivation
Passion
Creativity and Persuasiveness
Versatility
Superb Business Skills
Risk Tolerance
Drive
Vision
Flexibility and Open-Mindedness
Authoritativeness
Characteristics of an Entrepreneur
Source: https://www.monster.com/career-advice/article/entrepreneur-traits
6
https://www.youtube.com/watch?v=s7N-9E_e-wk
7
8
Activity
Search for famous entrepreneurs and briefly talk about their ventures
9
Hardworking
Energetic
Resourceful
Visualizes change (ex: Chromebooks by Sundar Pichai)
Planner and believes in systematic work
Motivation towards achievement
Creative
Clarity
Confidence
Dreamer
Instinct
Qualities of Entrepreneurs
10
Joseph A Schumpeter view’s
The Entrepreneur is an individual who introduces something new in the economy-
A method of production not yet tested by experience in the branch of manufacturing.
A product which the consumers are not yet familiar (Ex: Tesla solar roof tiles)
A new source of raw material (Ex: New processor for mobiles)
New market (Ex: Tata Nano in European market)
11
Peter Drucker’s views
Entrepreneurs are innovators.
Entrepreneur is one who always searches for changes, responds to it as an opportunity. Ex: Mark Zuckerberg
Innovation is a specific tool of an entrepreneur hence an effective entrepreneur converts a source into a resource
12
Scope of Entrepreneurship
Perception of market opportunities (original or imitative).
Gaining command over scarce resources.
Marketing of the product and responding to competition.
Dealing with the public bureaucracy (concessions, licenses, taxes).
Management of human relations within the firm.
Management of customer and supplier relations.
Financial management.
Production management records, supervision, coordinating input flows with orders, maintenance.
Acquiring and overseeing assembly of the factory.
Industrial engineering (minimizing inputs with a given production process).
Upgrading processes and product q ...
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2. The Aim
The aim of Business and the
Business Environment is to provide
learners with background
knowledge, skills and
understanding of business, the
functions of an organisation and
the wider business environments
in which organisations operate
Oguchi Martins Egbujor 2
3. Learning
Outcomes
LO1: Explain the different types,
size and scope of organisations.
LO2: Demonstrate the
interrelationship of the various
functions within an organisation
and how they link to
organisational structure.
LO3: Use contemporary examples
to demonstrate both the positive
and negative influence/impact the
macro environment has on
business operations.
LO4: Determine the internal
strengths and weaknesses of
specific businesses and explain
their interrelationship with
external macro factors.
Oguchi Martins Egbujor 3
5. Different
Types of
Organisations
• Profit Organisation
• Non-profit Organisation
• Sole Trader
• Partnership
• Private Limited
• Public Limited
• Limited by Guarantee.
Oguchi Martins Egbujor 5
6. Types of
Businesses
The following are the various types
of registered company. Apart from
these, a business may be set up as
a sole trader (self-employed
person), as a partnership or as a
limited liability partnership (LLP).
Each format has its advantages
and disadvantages.
Oguchi Martins Egbujor 6
7. Sizes of
Organisation
• Small Enterprise
• Medium Enterprise (SMEs)
• Large Organisation
• Transnational
• International
• Global
• Franchising
• Joint Venture
• Licensing.
Oguchi Martins Egbujor 7
8. Small,
Medium
and Large
Business
• Micro Business (Less than 10
employees
• Small Business (Less than £25
million)
• Medium Business (£25 - £500
Million)
• Large Business (over £500
million turnover)
By: Oguchi Martins Egbujor 8
9. Micro
Business
Microenterprise is a small business
that employs a small number of
employees. A microenterprise will
usually operate with fewer than 10
people and is started with a small
amount of capital. Most
microenterprises specialize in
providing goods or services for
their local areas.
By: Oguchi Martins Egbujor 9
10. Small and
Medium
Enterprises
The Mid-sized Businesses Growth
Review uses a definition based on
turnover, £25m-£500m per year.
£25m is the upper bound of the
SME turnover definition, whilst
£500m was chosen as a cut-off
point for these ‘smaller’ large
firms.
By: Oguchi Martins Egbujor 10
11. Companies
Act 2014
SME definition requires that two
out of three characteristics are
met – turnover (less than £25m),
employees (less than 250), and
gross assets (less than £12.5m).
Therefore there is likely to be
some overlap with SMEs in the
MSB population that we are
looking at in this analysis. BIS
estimates that over half of MSBs
also have fewer than 250
employees
By: Oguchi Martins Egbujor 11
12. The Scope
of Business
The scope of a business involves
(refers) to all the daily activities
(operations) performed by a
business to generate revenue
which includes:
• Sales
• services
• Product
• Development
• Production
• Marketing
• Customers
• Delivery
Oguchi Martins Egbujor 12
13. Legal
Structure of
Business
Organisation
• Sole Trader
• Partnership
• Private Limited Organisation
• Public Limited Organisation
• Franchising
• Licensing
• Joint Venture
Oguchi Martins Egbujor 13
14. Companies House
In the United Kingdom, Companies House incorporates and
dissolves limited companies, registers the information
companies are legally required to supply, and makes that
information available to the public.
14
Oguchi Martins Egbujor
15. Organisational
Purpose
The Purpose of a business
organisation is the fundamental
reason why the organisation
exists.
For example: Global Banking
School is a business organisation
offering HNC and HND in Business.
Oguchi Martins Egbujor 15
16. Business
Objectives
Business objectives are the
detailed tasks or hurdles an
organisation plans to accomplish
in order to achieve the
fundamental purpose.
Objectives need to be SMART in
order for a business organisation
to know what progress it has made
towards achieving the purpose
Oguchi Martins Egbujor 16
17. Business Organisation
Mission is the fundamental
purpose of an organisation
that outline the reason why
it is in business.
Mission is broken into set of
objectives that need to be
accomplished
Mission Objectives
Objectives are the hurdles
or set of tasks that an
organisation needs to
complete so as to acclaim
success.
Objectives are broken into a
set of tasks that need to be
accomplished to acclaim
success.
Oguchi Martins Egbujor 17
18. Understanding
Business
Organisation
• Aims and Objectives
• Fundamental Purpose
• Stakeholders and
responsibilities
• Shareholders’ Interests and
Expectations
• Customers (Buyers and Sellers)
• Market and Profit Shares
• Growth
• Sustainability
Oguchi Martins Egbujor 18
19. Market Share
Market share is the percentage of total sales (by value) or total
output that a business has in a specified market. For example, for
many years Volkswagen group has enjoyed a market share of
around 28% of global sales of carbonated drinks.
Tutor2u
Oguchi Martins Egbujor 19
20. Profit Sharing
Profit sharing is a variable pay plan or in most
cases, an incentives to employees. In profit
sharing, company leadership designates a
percentage of annual profits as a designated
pool of money to share with employees, and or
a portion of employees, such as executives,
managers or those above them as specified in
their contracts.
(Heathfield, S., 2018)
Oguchi Martins Egbujor 20
21. Business Growth
Business Growth is a stage where
the business reaches the point for expansion
and seeks additional options to generate more
profit. Business growth is a function of
the business lifecycle, industry growth trends,
and the owners desire for equity value creation
https://www.attractcapital.com/business-
growth.html
Oguchi Martins Egbujor 21
22. Business Sustainability
Business sustainability is the adoption
of business strategies and activities that meet
the needs of the enterprise and its stakeholders
today while protecting, sustaining and
enhancing the human and natural resources
that will be needed in the future.
https://www.iisd.org/business/pdf/business_str
ategy.pdf
Oguchi Martins Egbujor 22
23. Global Business
A global business organisation is in most cases, a
large organisation operating in different
countries with facilities, such as production and
distribution established outside the country of
origin. This is different from an international
business organisation
Oguchi Martins Egbujor 23
24. International Business
Growing into an international business, an
organisation needs to have developed into a
national business outfit that has captured a
sizable percentage of the market share in its
country of origin, and based on economies of
scale, extended its distribution network outside
its country with production still retained in the
country of origin.
Oguchi Martins Egbujor 24
25. Transnational Business
This relates to a multinational organisation
operating in more than one countries without a
designated home country; where the production
and distribution are localised by using the local
content (skills, talents, materials, people, etc) of
that country. Each country with a degree of
autonomy, takes decision according to the
economy, demands and the expectations of the
country in which it operates.
Oguchi Martins Egbujor 25
26. What Is Franchising
Franchising is a business format that grants a
licence from on person or business organisation
(Franchisor) to another (Franchisee), which entitles
the franchisee to own and operate their own
business under the brand, systems and proven
business model of the franchisor. Example,
McDonald and KFC
(bfa) https://www.thebfa.org/about-franchising-
the-bfa/what-is-franchising/
Oguchi Martins Egbujor 26
27. Joint Venture
A joint venture (JV) is a business arrangement in
which two or more parties agree to pool their
resources for the purpose of accomplishing a
specific task. This task can be a new project or any
other business activity. In a joint venture (JV), each
of the participants is responsible for profits, losses
and costs associated with it. However, the venture
is its own entity, separate from the participants'
other business interests.
https://www.investopedia.com/terms/j/jointventur
e.asp
Oguchi Martins Egbujor 27
28. Licensing
Licensing is a business arrangement in which
one company gives another company permission
to manufacture its product for a specified
payment. Example, Gucci, Levi, Calvin Klein
https://www.entrepreneur.com/encyclopedia/lic
ensing
Oguchi Martins Egbujor 28
30. Competitive Analysis
Strategic Business Unit (SBU)
Market share
Sales force
Marketing
Customer services
Research and development
Manufacturing
Distribution
Financial resources
Image
Product line
Quality and reliability
Managing competency
Market size
Market growth rate
Cyclicality
Competitive structure
Barriers to entry
Industry Profitability
Technology
Inflation
Regulation
Workforce availability
Social issues
Environmental issues
Political issues
Legal issues
(Johnson & Scholes, 1993)
Indicators of SBU Strength Indicators of Market Attractiveness
Oguchi Martins Egbujor 30
32. LO2:
Demonstrate the interrelationship of the
various functions within an organisation and
how they link to organisational structure
32
Oguchi Martins Egbujor
35. Hierarchical (Centralised) Structure
Communication is distorted: This is a Top
Order and Instructions
are passed down
according to
seniority
Down
Management
Ma
Managing
Director
General
Manager
Marketing
Manager
Sales Manager and
Operations Manager
Supervisor
Operations Staff
Customer Services
S
Oguchi Martins Egbujor 35
36. Flat (Decentralised) Structure
Communication flows Few Layers of Structure
GM/Chief
Executive
Marketing Cashier
Accounts
Officers
Customer
Services
Marketing
Manager
Operations
Manager
Finance
Manager
Sales Distribution
Oguchi Martins Egbujor 36
37. LO3
Use contemporary examples to demonstrate both the
positive and negative influence/impact the macro
environment has on business operations.
37
Oguchi Martins Egbujor
38. Macro
Environmental
(Influences/Impacts)
• PESTLE Framework
• Digital Revolution on
Production and Consumption
• Social Technology
• Cyberspace Security
• Emerging BRICS Market
• Global Shift: Economics, Social
Power, Ethical and Sustainable
Growth
Oguchi Martins Egbujor 38
40. Macro
Environmental
Factors
Oguchi Martins Egbujor 40
Political
Political decisions affect
business performance. The
factors may be negative or
positive, taxes, tariffs, quota,
change of government,
government policies, etc
Economic
Factors that may affect
business performance
positively or negatively are:
exchange rate, inflation,
disposable income, recession,
economic growth, interest rate,
etc
Social
Social –cultural factors,
unemployment, crime,
education, skill development,
age, gender, population
growth, attitude, income
distribution, housing, health,
wellbeing, etc
Technology
New technology, social media,
internet, robot, machinery,
telecommunication, search
engine optimisation, sale per
click, point of sale, tele-
conferencing, skype, email,
text, interactive systems,
computer
Environmental
Ethical issues, pollution,
climate change, raw material,
taxes on pollution, green peace
resistance, negative attitude
due to destruction on
environment, etc
Legal
Equal rights, human rights,
advertisement standards,
health and safety, consumer
rights, deceit, monopoly,
national rules and regulations,
etc
42. LO4
Determine the internal strengths and weaknesses of
specific businesses and explain their interrelationship
with external macro factors
42
Oguchi Martins Egbujor
43. Frameworks
For Analysis
• SWOT
• TOWS
• 5 Forces
• Force Field Analysis
• Stakeholders Analysis
• PESTLE
• Micro and Macro Factors
• Government Interventions
Oguchi Martins Egbujor 43
44. SWOT Analysis
Oguchi Martins Egbujor 44
Strengths
Internal Capabilities
Of the Organisation
(Skilful workforce, available
funding, image, technology,
equipment, good networking,
good infrastructure, good
reputation, experience,
knowledge, etc)
Weaknesses
Weaknesses within
The Organisation
(lack of finance, lack of skills,
knowledge, experience, lack of
infrastructure, lack of reputation,
myopic, lack of facilities, lack of
credit worthiness, etc.)
Opportunities
External factors favourable to the
industry that can be explored or
exploited by
Organisations (eg. Student
funding, drive for education by
government, demand for
HND/BSc, national minimum
standard, drive for global skills,
improvement on the economy,
demand for quality, etc.)
Threats
External factors negatively affecting
organisations (government review
on institutions offering education,
funding withdrawal, Brexit,
withdrawal European funding on
research, taxes, robot, technology,
UN sanction, wars and rumours of
wars, economic recession)
45. Porter’s 5 Forces
Threats of entrants
Bargaining Power Bargaining Power
Threats of Substitutes
Potential
entrants
Suppliers Buyers
Substitutes
COMPETITIVE
RIVALRY
Oguchi Martins Egbujor 45