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Unit 16 Business Environment Regent College

Introduction

Business environment is that in which several different sector companies exists. Although, this is dynamic in nature which modify because of several factors. The same is of two types micro factors which includes such elements that give small level impact on business when change. On the other hand, another is macro level factors such as political condition, competitors, market condition and several other (Lee, Olson and Trimi, 2012). This assignment is based on different type of organisation such as public, private and voluntary along with their legal structure. Impact of changes in various factors are also highlighted below. As well way of minimising their negative impact on working of business also described. Private organisation in this assignment is ROLEX which is watch manufacturing organisation founded in 1905 by Hans Wilsdorf and Alfred Davis. Area serving by them is worldwide with 2800 approx number of employees. Moreover, public company is Child support agency and voluntary is Welcome Trust more description of these is stated below.

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Task 1

P3 Different functions and their link with functions and organisational structure

Business organisation require proper structure for their working as well there are several department in an company (Rossi,Vrontis and Thrassou, 2012). Working of every department is interrelated and all of them are contributing their efforts in development and growth of business. Relationship between each and every department of ROL:EX is given below:-

Research and development:- Every organisation have research and development department same ROLEX also have. This is important for identifying current market trend and also satisfaction level of customers with current goods and services. Through research and development department company can gain several advantages as well it help in generating revenue which is important for survival in market. 

Marketing department:- This is the department whose working is related with organisational structure because if marketing of goods is doing as per the brand image then only it is good. Marketing department is using several tools and techniques for promotion and advertising of watches. Apart from this it is important activity for every kind of enterprise small or large. 

Production department:- Without this department company cannot produce goods for production purpose there is requirement of the same department (Pham, Segers and Gijselaers, 2013). Organisation have to understand several production approachers which assist in overlapping of production, extra cost, as well aids in consumption of latest products also. Their is requirement of expertise in this division so goods are produced in fine manner by managing its quality. 

Human resource management:- HRM is the department in organisation which manage entire working as well important for meeting day to day need of company & customers. In simple word it can be said that this division is backbone of firm and it also help in making coordination between several departments. Human resource management is such which also do their operations and build skills with ability for their personnels in large manner so that they can generate high profits and also can achieve goals and objectives too. Main motive of this department is to hire candidate who are expertise and also manage training & development program for employees (Gharajedaghi, 2011). So they can increase their skills and knowledge. 

Accounting and finance:- This is department which manage entire working of business because fund in important for meeting day to day activity and also in production purpose. Department is that of company which assist in building the manage to have all account of finance activities in proper way. Thus, this make entity to manage cash inflow and outflow, capital management with budgetary control and looking forward to have mercantilism accounts as well which do aids in managing everything as per the requirement (Crane and Matten,2016). Account and finance department is the confidential entry of everyone is not allowed because there is changes of fraud and data theft.

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