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Level 3 HND BTECH Business and Business Environment

Introduction

Organisations need effective strategies systems, policies and working practices in order to survive in a highly competitive business environment. It is a combination of both internal and external elements that affect an organisation's functions and activities. Therefore, it is very essential for a business to identify and understand potential impact of these factors for performing its functions effectively. The present report is in context to IKEA, a leading company in UK and  it identifies various internal and external factors affecting business functions. Furthermore, the report will also discuss different types of organisations, their scope, structure and objectives. The connection between various business functions and their objectives will be also discussed in the following report. Furthermore, positive and negative impact of macro environmental elements on the organisational functions of IKEA will be also determined.

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LO1

P1 Relationship between different organisational functions and their link to organisational objectives and structure

In each and every business or organisation, there are various functions which are performed in order to achieve the organisation goals and objectives. Every function within an organisation is interconnected with each other; these functions include finance, marketing, administration, operations etc. (Besley and et.al., 2015). The business functions are greatly influenced by the business policies, decisions and activities. Moreover, the departments within an organisation consist of specific numbers of employees managed and controlled by a single manager. Each one of the organisational function or department is essential to attain the business aims and objectives. IKEA has different types of effective functions which help it to attain success in the market, these functions can be described as follows -

Marketing functions – This function is related to various activities performed by the organisation in order to promote its products and services in the market. The main goal of this function or department is to attract more and more customers by different methods such as advertising, public relations etc.

Financial functions – The department of finance within IKEA plays an important role in keeping record of all the financial transaction of the business. This function assists the organisation to maintain and measure its proficiency and expenses with accurate information and data as recorded (Aithal and et.al., 2016).

Human resource functions – The human resource management also plays vital role in developing, managing, motivating and creating an effective workforce in an organisation. The HR functions includes recruiting new employees, providing the training, measuring their performance and supporting term with regards to various issues such as salary, leaves etc.

Information technology - This office have association with all office since its significant part is to keep up the data and information of the business and build up the association among the different office by viable correspondence innovation. This office have expected to work the different mechanical capacity in the business. This office have association with organisation and operational division (Monroe and et.al., 2015).

Difference and interconnection among business functions

According to the above discourse, it has been found out that there are different sorts of capacities in the business undertaking, for example, advertising, back, activity, organization, data innovation and so on. All these offices play out their won parts and obligation however, these have basic target which is hierarchical goal. The structure that is trailed by the association depend on three kinds which are as per the following-

Functional structure-The useful structure of the organisation by and large considered in which whole business enterprise is separated into different office based on specialisation that is advertising, people asset, back, organisation and so on. Ikea can receive this structure to appoint the parts and obligation to every office in the organisation.

Divisional structure according to this structure division of organization in light of the venture and portion. In other words, one might say that divisional structure have make the section in various office by land territory. In this structure, all workers have their own parts and obligation to achieve the objective (Aithal and et.al., 2016).

Matrix structure-A lattice structure is an organisation structure in which connection between different divisions is set up as a network or grid instead of in customary chain of command. In this structure, organisation is isolated the parts of representatives where they need to answer as indicated by the network or lattice (Helm and et.al., 2014).

Read this sample: Business and Business Environment General Motors

LO2

P2 Positive and negative impact of macro environment

This is a popular company that deals with wooden product that would provide the high quality of product in the market. Ikea is the best company to increase their product in the market and the objective of this company to gain a lot of profitability. This organisation is planning a new strategy and launching a new product in the market. There are many factors useful for the business process such as legal factor, social, political etc. these factors play an important role in the firm. There factors analysis the whole business process is helpful to identifying the requirement of customer. The main motive of any company is to provide the best quality of product and most of the people are interacted to this new product. The organisation can maintain their positive and negative effect. Ikea is a multinational company that operates the whole business and they are also expanding their product at the international level. The legal factor may affect the firm because they will provide high security and the employee of this company feel free (Morecroft and et.al., 2015). Technological factor plays an important role in the firm because the company will adopt new techniques and used for new idea's innovation. This technology are used for digital marketing because in the market, the high technology are already used many companies. With the help of advancement, it can improve their business process and strategies, production, manufacturing etc. the economical factor can affect the business process due to the high prize of items and their rate of interest is also very high. Some s times, political factor affects their business because the organisation can be making new plans regarding the production and creating new policies, terms and conditions. Ikea is company that creating different operation in which taking so many resources are used in the proper manner. The resources are required for any organisation to develop a new product in the market. They are using some natural resources according to their climate changes. These factors are very important for the organisation because with the help of this factor, they will determine their weakness and strength of company. These business environment can be drawback of Ikea in which they face so much competition between the companies. There are many advantages to increase their productivity and performance of the operation in the firm (Jeston and et.al., 2014).

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