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Impact of Business Environmental Factors of Halifax Bank

University: Regent College London

  • Unit No: 9
  • Level: Undergraduate/College
  • Pages: 20
  • Words: 5000
  • Paper Type: Assignment
  • Course Code:

    EC4F05

  • Country: UK
  • Downloads: 2
Question :

The objective of this report is to identify the impact of business environmental factors by considering different frameworks. This will determine the direct influence of internal and external factors over business decision making.

  • Identify different types of organisation as well as their size and structure.
  • Evaluate the interrelationship between different functions of an organisation and its link to business structure.
  • Analyze the positive and negative impact of macro-environmental factors over business activities of Halifax bank.
  • Discuss the strength and weaknesses of Halifax bank and its interrelationship with macro-environmental factors.
Answer :
Organization Selected : Halifax bank

INTRODUCTION

Business environment is very important for every organization it provides the various opportunities in several department like purchase, production, sales of good and services. It is very help for economic growth and its providing lot of jobs opportunities. According this files it includes the various types of organisation structures, functions, size and scopes. It also explains this report the purpose of different types of business enterprise and also describing different objective that meet from corporation ( Mills,and et.al, 2016).This file also mentions the strength and weaknesses of the Halifax bank and it also shows the impact of external business. The main aim of this report to explain all thing which is exit in business environment. It is very help for growing business. Business environment is referred with the political, economical, legal or social factors. It is also consisted two factors external and internal environment. External refer with demographic forces, political forces. Government and legal forces. In other hand is internal environment is also related with money, machinery, material and man. The aim of this company earn more profit and providing effective service to their clients.

LO1

P1) Explaining the different types of organisations

There are many types of organisations such as private, public and voluntary sector. The motives of these corporations are not similar. Private sector are related with owned and run their business in individual level this types of company’s main purpose to earn profit. Public sectors is referred with the owned but run by the government and this fund used to maximum time for the public sector. The main aim of the public sectors is providing important public services and resources is also use for public well fare. Voluntary sector are consisted with the non-profit organisation means these types industry run their business only social welfare and it is one more reasons to run this firm to avoid tax purpose. Example of private sectors IKEA is the private company its main aim to earn more profit and increasing market share and maximize sales.

Public sector organisation: Halifax Company is the public limited company it main motive to earn profit as well providing customer satisfaction. It is a developing organisation in UK and it also maintains its position it merged with governor and industry of the bank of Scotland. It is legally transferred their assets and liabilities of this bank to bank of Scotland. This bank also giving various kind of loan facilities to their customer. They also providing the funds, several types of facilities like loan, saving account, current account, car loan facilities, home loan, equity funds, shares so many. It also generates their revenue from providing the loan facilities to their consumer. They maintain their company names and loyalty with clients. It is very important for every public organisation is to maintain their relationship with people and providing lot of services. Every public industry-main motive to achieve their organizational goal as well as providing customer satisfaction. They also provide many funds, giving interest monthly bases in their saving account.

Private sector organisation: it is related with the individual level firms means own group like IKEA is a profit-making company based on Sweden and providing large number of services such as furniture’s manufacturing by adopting mean they run their business furniture’s product they sell their products in new and modern techniques. This firm is serving large number of consumers and it is largest retailer industry in last 5 years. It main motive to earn more profit, they increase their sales, promotions of their services, this company intends giving the best with their consumer and the purpose of this firm expanding their business and managing cist of their products in effective manners. It also focuses on developing their business in society and reducing the chances of risks or uncertainty. The organizational structure is a multinational company and profit making firm and they involved in retails business and also individual funds with effective enterprise structures. They have also set their legal structures they also follow the rules and regulation and spreading awareness to their consumer regarding their product and they also create health environment their workplaces.

Voluntary sector: it is considered with different organisation and charities means it is none. Government Company serves for social well fare. These industries also very help for developing the growth of the economic and providing jobs opportunities and develop week area. So it is very important. The structures and legal in the voluntary sectors theses company also follow all the rules they work according to government law rules it is value based organisation. Voluntary sectors is unique from other two sectors it is not for profit and it not under government control like public company.

The legal structures of the public company includes organisation that provide services such as roads, educations, health, protection. These are the services are providing through financial gain from taxation and the UK national insurances so the public sector spends a lot of money on social welfare. The private sectors industries are single person that providing good and services and the primary purpose is to make huge profit through financial services, manufactures, shops they share their profit with owner and shareholder or business partners they also providing good conditions to their workers being good citizen in the local area and making good environment and protecting environment.

It is legally transferred their assets and liabilities of this bank to bank of Scotland. This bank also giving various kind of loan facilities to their customer. They also providing the funds, several types of facilities like loan, saving account, current account, car loan facilities, home loan,equity funds, shares so many. It also generates their revenue from providing the loan facilities to their consumer (Arshad, 2016). They maintain their company names and loyalty with Clients. It is very important for every public organisation is to maintained their relationship with people and providing lot of services. Every public industry-main motive to achieve their organizational goal as well as providing the customer satisfaction. They also provide many funds, giving interest monthly bases in their saving account.

P2) Explain the size and scope of the different types organisations

Size and scope is very important for very organisation. It show the actual performance of the business and size of the company like if some firms are small so its size and scopes also little if some organisation is large so its size and scope is also huge it also shows the numbers of employees, business diversification. The size and scope of the Halifax bank is large number of employees work in this company and the average age of employees who work with this minimum 39 years. They also work in flexible hours and the scope of this firms in local national worker involved in selection charities, received paid time of to volunteer.

IKEA is also very multinational company it sizes is large and earning more profit and the scope of this industry is expanded their business in different country. This is also giving the better services to their employees and its main purpose is earning more profit and increasing their sales. They also providing quality of their services. Large number of employees work with organisation and they also provide better facilities to their workers. The main scope of this industry (Arshad, 2016). They also manufacturing their product converting into raw material or semi-finished furnitures items into finished producthey also diversified their business in local market as well as other country the main aim of this enterprise to earn a more profit and providing customer satisfaction.

These are the different types of size and scope it very important if the organization have few employees in their organizational structures and no one how to manage their work or no any idea how to assignee their duties and responsibility so it is difficult to handle or mange so every company need to proper knowledge regarding their work product , employees so it is easy for achieving the goal of the business. If the size of the company is large so many people invest these types of corporation they also earn huge amount then they also set their big targets as their enterprise objectives (Arshad, 2016). All industries have common goal to generating more profitability ratio and serve to consumer but profit level is not same and size is also different. Firms set their business objectives by reviewing their work scope if the scope of any company is to serve national consumer, then they will set their business vision consequently. If they sell their product international level clients their good and services does not require large organisational structures. If the scope of enterprise of any good or services, items is vast only then firms create massive business size and create a large scope, otherwise they make small size corporation.

There are fives of an organization like public, government, private, NGOs, charities and co-operatives. Halifax bank starts their business as public limited company there are several types of important share holder this company and the corporation has at least one director in every branch of the company. It has been followed and maintained different kinds of rules and legislation to protect their business profile as public limited organisation. This bank has arranged annual general meeting with their other shareholders or financial institutions. The shareholder of this company select the signal person who takes all the decision about important matters such as investment, loan, capital and marketing sales. This corporation observed their vision, goal, objectives and improve their work performance (Arshad, 2016). Vision is related with that position where the bank want to go the main vision of this banking industry to increasing their finical product and providing the best finical sources of their customer. The main mission of this banking sectors to expanding their business rather tan other banking sectors. The banking operation is depending up the financial institution or shareholders. They are motivated with their consumer they get easily way to invest their bank. The main motive of this banking is to raise their funds as well providing better financial resources to thei

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