UKCBC Unit 1 Business Environment-2
The Business Organizations Assignment Help have different purposes depending on their reason for doing business. Business organizations prepare a structure of them and perform activities which help to meet their objectives. All the business organizations are required to meet the requirement of their stakeholders like the customers, investors, employees, suppliers, government, etc. All of them have their different needs and interests and sometimes it becomes very difficult for the business to fill all their needs. Businesses are required to work in an atmosphere which is developed by the market forces like the government, competitors, consumers, suppliers, and international factors. These business research can be both at the local level as well as the global level and is very crucial in developing businesses (Helpman, 1989). Some of the important factors which play an important role in affecting the business and their stakeholders are the interest rate, taxation policy, competitive laws, foreign direct investment regulations, etc. The companies which decide to go global have to face the challenges posed by the regulatory bodies of different geographies. The market forces are the major contributor towards the organization structure and its processing.
LO1 Understand the organization purpose of businesses
P 1.1 Explain briefly the following types of organizations and their purposes: Virgin Group LTD, Tesco PLC, MC Donald’s and National Health services (NHS) UK
There are different types of organization present in the market and they have different purposes. These purposes depend on the effective organizational structure and the reason why they are doing business and their objectives. Basically, there are 4 types of organizations: Sole proprietorship, partnerships, corporations, and Limited Liability Companies (LLC). Sole Proprietorship is the organizations in which there is the single owner. All the operation of the organization is looked after by the single person that is the owner. In Partnership form of organizations, there is more than 1 owner as the name suggests. There are partners who own the business. Here the number of partners can range from 2 to 20. Let us discuss the following type of organizations and their purpose:
Virgin Group Ltd: It is a British multinational branded venture capital conglomerate conceived by Sir Richard Branson. It is one of them most renowned brand in the world. It deals with different sectors like mobile telephony, travel, financial services, leisure, music, holidays, and health & wellness etc. This is an example of sole proprietorship where Branson retains complete ownership and control of the Virgin Brand.
Tesco plc: It is one of the most popular retail stores in the UK which has a presence all over the world. It deals with general merchandising. Tesco plc was founded by Jack Cohen in the year 1919.
MC Donald’s: McDonald’s Corporation is the world largest chain of hamburger fast food seller. It is headquartered in the US and serves in more than 119 countries. This was first started in 1940. This company runs on a franchise model.
National Health services: This is a public sector company in the UK. The systems are primarily funded through central taxation and they work towards securing the health of the nation as the name suggests.
P1.2 Considering Tesco PLC, describe the extent to which it meets the objectives of its different stakeholders.
Tesco plc is doing a great job in meeting the objectives of its stakeholders like the customers, employees, suppliers, investors, government, that will show the effective impact etc. They are providing a good rate of return to their investors and keeping then happy and satisfied in investing in the Tesco operations. The investors are always worried about the rate of return they Are offered and the Tesco is performing very well to meet the needs and expectations of its investors. They are keeping their employees satisfied and motivated by meeting their requirements as well. They are giving better services and proper working environment to their employees (Holden, 1996). They also give awards and rewards to its employees for their contribution towards the better performance of the company. They also satisfy their lenders by keeping their confidence intact in the Tesco’s performance. The Tesco plc satisfies their customers as well by producing goods which are preferred by the customers and offering the products at affordable prices. The company also follows the government policies and pay their taxes in time and keep the government also happy with their business. They also maintain a strong bond with its suppliers and keep a contact credit payment process in place (Börzel, 2003).
P1.3 Considering Tesco PLC, explain its various responsibilities as an organization and the strategies it employs to meet them.
There are various responsibilities which are fulfilled by the company Tesco plc which ranges from social responsibility, environmental responsibility, and employee responsibility to government responsibility. Tesco indulges in fulfilling in the Corporate business responsibility by organization behavior taking initiatives for corporate social responsibility activities. They fulfill the environment responsibility by increasing awareness about keeping the environment pollution free and make efforts to contribute minimum to the environment degradation. Tesco has been working towards implementing various activities which are important for its brand image (Kamien, 1982). The company is active in taking plantation initiatives and being responsible for nurturing environment oriented approach both outside and within the company. Tesco has been known its approach towards reducing the plastics usage through its retail outlets, minimizing waste in the environmental structure, and decreasing the usage of hazardous materials in its product line. It has also fulfilled its responsibility towards the employees by giving them the best facilities and helping them to develop better skills. They also fulfill the responsibility towards the government by paying proper taxes in the timely manner (Cannon, 1978).Order Now