Business Environment Factors - Halifax Bank
University: Kensington College of business London
Question :
The objective of this report is to evaluate the influence of business environmental factors over business operations and functions. This will assist an organisation to construct an effective business strategy in order to reduce negative influence of such as:
- Analyze different types, size and scope of organizations.
- Identify the interrelationship between functional department of Halifax bank and its link to business structure.
- Discuss the positive and negative influence of macro environmental factors over business activities of Halifax bank.
- Determine strength and weaknesses of Halifax bank and its interrelationship with external environmental factors.
Answer :
INTRODUCTION
Business environment is very important for every organization and it will affect their internal and external factor. Internal factor is part of company that would be handle by the firm in which External factor are also affecting the business but it can not be control by the company. Business environment is affecting their social factor, Political, technological, legal, economic, factor and In this report, it will analysis the whole macro organization in proper manner and it will identify a different size of organization and scope of respective types of structure. In this report, they are mainly focused on different type business operation that would be affecting the Halifax bank, In UK, Business market has been changed and increasing the demand of customer so the objective of macro organization to expanding their business in all over world (Boons, 2013). In this report, it will identify business process to understanding the requirement of customer through which determine the impact on enterprise functions. Pestle analysis can be analysis the business activity and it will determine that how these are affecting the environment factor and it will identify their negative and positive impact on big environment such HaliFax bank.
TASK 1
P.1 Different type of organization and their purpose
There are various type of organization and difference between this organization on the basis of their role and purpose in business environment as follows:
|
Differences |
Public sector |
Private sector |
Non-governmental sector |
|
ownership |
This sector is basically owned and there funding is given by government because public sector are using those people who has own landmarks(Storey, 2016) . The Halifax bank is public sector that are located in United Kingdom. |
Private sector is that when it is owned company that has to be controlled by group of people and business partner. This sector is increasing their profit rate. There are many private companies to expanding their business in super market. The aim to enhancing their business in all over world (Cohen, 2014). They earning a lot of profit in market. |
This sector is running through people in which there main aim to increasing their business for society. It will rise their business for human being. It is very important organization for human to provides a facility. It will contribute some money for human welfare. There objective to help for those people who has nothing. There is no aim to increasing their business and earning profit in market. |
|
Meaning |
This sector is share their product in market and there intention to exploring product and all people purchased the item in general eyes. |
This sector is not like public sector because private organization are selling their share in market and earning a profit through shareholders. They are increasing their productivity in internationally. |
The non-governmental organization is known as voluntary sector because this firm is not registered and it is not a part of other company. This sector has small area covers because they are helping to other people and social community. |
|
Main Objective |
The main objective of public sector is to increasing their business and earning a profitability in marketplace (Welford, 2013). There are various type of public companies located in United Kingdom. The objective to provide the best services to customer and launch a new product according to customer requirement. |
The aim of private organization to expanding their business in all over world. They are only focus on to earning a profit with the help of shareholder. They are selling their share in marketplace. In this sector, they will distribute some part of share in market and reverse some portion. |
This sector is concern about social welfare. This sector is provides the best services to poor people and welfare. They are helping to Those people who has insufficient money and can not be effort. This sector is not earning so much profit through market. They are working for poor people and communities. For Example- DCA and EURAD are such organization that only working for people welfare and society. |
|
Visions |
The main vision of public organization to provide a safety for people and best quality of services. Halifax bank is public sector that would be provide a facility such as customer loan, security locker, Interest, Exchange currency etc. |
The vision of this private sector for making a popular brand in UK. It is increasing their profit rate in market because they are expanding their product in marketplace. The main concern is on developed the organization and increasing their profitability (Wheelen, 2017). |
The non-governmental organization are those companies that would helpful for people. It is not concern about development of business in which they are only focus on people welfare. There are many organizations in united kingdom to provide facility for people but it can not take any charges. |
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