Business & The Business Environment Assignment Sample

Introduction Of Business & The Business Environment Assignment

The report develops an understanding of the background knowledge of business and the function of an organization and the wider business environment in which the organization is working and operates. The report develops a detailed understanding of the different types of organizations which include every category such as private, public, profit and non-profit organizations, this detailed description also includes the size and scope for instance, micro, SME, transnational and global, and also states about how the organization operates (Bysted and Hansen, 2015). The report explores the connection that organizations have with their several stakeholders and the influence of the wider external environment and size of business decision-making.

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For developing a better understanding regarding the private, public, profit, and non-profit organizations the report has considered Deloitte a private sector company. the report discusses in detail the legal structure of the company and states about organizational structure, size, and scope of the company. The report also analyses the external and internal factors which affect the organizations working and result in affecting the profits of the company. Deloitte is a consultancy company that deal in providing consultancy services to all its customers which is spread all over the world, the main base of the company is in the UK.

Different types and purposes of organizations: public, private, and voluntary sectors

Establishing relationships to enable people to work with every entrepreneur organizes several factors of production which are land, labor, capital, machinery, etc. the main focus of entrepreneurs is on directing these factors into something productive. Businesses are divided into several activities or services, these services are allocated to several individuals. Each person’s hard work direct to the attainment of business goals and objectives. The organization is the systematic regulations of responsibility and duties which all are needed of personnel in accomplishment several functions in point of view to achieve the company's goals (Hopwood, 2019). Public sector organization provides governmental service or any kind of public service which benefits all of society, relatively more than just the single person who uses the services, this sector includes health care, military, law enforcement, infrastructure, water management, etc (Mackintosh et. al, 2016). Several governments all around the globe apply their own special or unique patterns of methods of providing funds to public sector organizations.

On the other hand, the private sector organizations are the major part of the economy which is driven by individuals who are known as an entrepreneur these companies work for earning profit and states have no control over these companies as they come under the private sector not in the public sector (Zeffane and Bani Melhem, 2017). Companies or corporations which are driven by the government are part of the public sector, but charities and all other non-profit organizations come under the voluntary sector.

Free Assignment SamplesLegal structures in the Private Sector

Deloitte

Deloitte Private Limited is a completely devoted company to providing its consultancy services to private companies in every sector of all sizes comprising new firms, local entrepreneurs, SMEs, family businesses, startups, and all the big private companies, and individuals (Kane et. al. 2015). Deloitte companies is a private sector company that looks after and understand the special requirements and also the challenges which are being confronted by private companies and could offer its customers fully tailored service.

The legal structure of Deloitte

The legal entity structure experts at Deloitte help clients evaluate the possible effects of local, bilateral, and multilateral treaties, laws and regulations on their international activities. Deloitte helps establish core competency that quickly and visibly satisfies legal entity structure criteria while working with businesses to examine their entity structure (Evans, 2020). The company deals with its clients to evaluate accountability advanced industrialized countries, procedures and equipment before putting into place an effective plan that is in line with the company's business objectives. The business's services focus on streamlining the labour and document components of managing legal entities. The company's design and processes in areas are as follows:

• yearly acquiescence and corporate variations,
• Data collection and management of documents (Goodall et. al. 2017).
• Organization recording and business planning,
• Legal entity data and tracking deadlines, and
• Contract qualification scrutiny.

To improve regulatory compliance, lower risk, and assist clients in adopting a legal entity structure that can change in response to new opportunities and challenges presented by being a multinational organization in today's business environment, Deloitte employs a multi-layered approach to legal entity streamlining.

The organizational structure, the size of the business, and the scope of the business, can either align or not, with the overall business objectives.

The organizational structure of Deloitte

Deloitte is a private sector firm that is part of the bigger brand name of the company which is Deloitte Touche Tohmatsu Limited also known as Deloitte Global, which is a private company limited, united in England & Wales. All these members of the firms and all of their associated entities are named under “Deloitte firm”, including Deloitte Global and all associated companies, named under the Deloitte organization.the Deloitte organization is a very humongous private sector company, numerous small entities are associated with the name of the company. the company is spread all over the world providing its services (Mancher, et. al. 2018). This organizational structure of the company permits it to drive the industry to the position of a leader at each level which includes locally, globally, as well as nationally. Separately Deloitte has relation to the knowledge of, and also the capability to consult inside, its organization. The company is neither offers services to customers nor affects the choices that businesses consider regarding the customers they support (Oslen, 2019).

Size of Company

In even more than 20 businesses, Deloitte holdings are amongst the highest specialized services companies in the nation for audit, suggested, tax, and consulting services. Deloitte is dedicated to supplementary clients and employees in attaining their potential and is known as a higher employer for innovative human management activity (Dixon et. al, 2019). The US branch of Deloitte Touche Tohmatsu Limited is called Deloitte LLP.

Scope and scale matter

Deloitte is a leader in the industry which brings a great force in business. Around 85% of US Fortune 500 corporations are served by Deloitte subsidiaries, while member firms of Deloitte Touche Tohmatsu Limited jointly service over 70% of Fortune Global (FG) 500 organizations. The company's work influences all of these companies in a variety of ways, including personnel, technology, operations, finance, strategy, analytics, and design. Working on a stage this size means that a lot depends on the company's work (Hagel, and Wooll, 2019) The company works with federal, and assists state, and local, governments in carrying out their duties.

The role in the creation of products and services sold in markets

The Global Consumer & Industrial Products Industry category includes Industrial Products and Services. Around tens of thousands of committed professionals work together under the name Deloitte in independent companies all over the globe to offer selected clients with audit and declaration, consult, threat and monetary counselling, risk administration, tax and connected services. All these businesses are associates of the Deloitte Company which a UK-based private limited is guaranteed by Deloitte Touche Tohmatsu Ltd (DTTL) (Galaz, and Ruiz Urquiza, 2015). Every DTTL Affiliate Company offers services in particular regions of the world and is restricted by the ethical requirements of the country in which it organizes production. Every DTTL associate is prepared in line with legislation, system, customs, and other fundamentals. It is also permitted to safeguard the supply of expertise within its jurisdiction using associates, subsidiaries, and other linked organizations (Renjen, 2019). Not every DTTL member firms offer all activities, and certain services might not be accessible to confirm clients comply with public reporting requirements and rules.

As DTTL and each associate company are diverse, independent legal persons, which are not able to restrict one an extra. DTTL and each DTTL member corporation are completely responsible for their own performance and abandon, not the actions of each former.

Critical analyses of the complexities of different types of business structures and the relevance of the interrelationship of different organizational functions

Each structure has possess its benefits and disadvantage, and it is significant for entrepreneurs to understand the complexities of each before deciding on the most appropriate structure for their business.

One of the most common forms of business structure is the sole proprietorship, where a single personality owns and operates the business. One of the major returns of this structure is that it is simple to set up and does not require any legal formalities. However, the downside is that the sole proprietor is individually accountable for all the debts and obligations of the business. This means that if the trade fail, the proprietor's individual assets may be used to pay off the debts (Rosenberg Hansen and Ferlie, 2016).

Partnerships, on the other hand, involve two or more individuals or entities coming together to own and operate a business. Partnerships can be general, where all partners share equally in the profits and losses, or limited, where one or more partners have limited liability. The main advantage of a partnership is that it allows for the pooling of resources and expertise. However, partnerships also carry the risk of conflicts among partner and the potential for own responsibility for the amount outstanding and obligations of the industry.

The different functions within an organization, such as finance, marketing, operations, and human resources, are interrelated and have a significant impact on each other. For example, finance and accounting are critical functions that provide information about the financial performance of the business, which in turn influences decision-making in other areas such as operations and marketing. Similarly, marketing and sales activities impact the level of revenue generated by the business, which in turn impacts the financial performance.

Effective coordination and communication among the different functions is critical for the success of the organization. For example, marketing and operations need to work closely together to ensure that the products or services being offered meet customer needs and expectations, while finance and accounting need to ensure that the necessary funds are available to support the operations of the business. Human resources also play a critical role in ensure that the association has the right aptitude and skill to attain its goals and objectives.

PESTLE model to identify and discuss the various macro-environmental factors

A crucial technique created by Harvard Professor Francis Aguilar is the PESTEL analysis. Several macro environmental elements that have a significant impact on the business are included in this analysis.

Political factor

• Government aids and favorable tax policy and rates also allow Deloitte Consulting GTA The Deloitte Dads Initiative to preserveattractiveness by monitoringthe costs of performing business (Freddie, 2018).
• In return, all these, the costs of doing business, are also not forwarded to the clients, and by allowing clients to appreciate beneficial and inexpensive pricing

Economic factors

• A concentrated inflation rate would outcome in a momentous rise in nonrefundable income, which strength competition, predominantly through pricing approaches that could effect in unprincipled price combats that dishonestlyadvantage the client.
• Business advances also will assistance in the development and structure of the sector's infrastructure on a noteworthy scale.

Social factors

• For Deloitte Consulting GTA, a biggerquantity of the younger generation is beneficial. The Deloitte Dads Initiative will provide the business access to a bigger customer base (Yap, 2019).
• Youth will help ensure Deloitte Consulting has admittance to human possessions and individuals who are additionalbrilliant and educated, increasing the talent pool.
• Deloitte Consulting values a modest to upper-middle class among its present clients and supporters.

Technological factors

• Technology is developing rapidly, which is evident in the expansion of companies like Deloitte Consulting GTA. Technology advancements and development are being incorporated by the Deloitte Dads Initiative to boost company effectiveness and efficiency.
• As a consequence, Deloitte Consulting Initiative has a distinctive competitive edge in terms of technological innovations, and the organization keeps developing the use of, and further engaging in innovation systems to optimize the macroeconomic indicators and capabilities (Astafurova, 2019)

Environmental factors

• There is a huge rise in focusing on environmental sustainability and the company is also further focusing on recycling.
• Consumers of the company are becoming more alert and aware and are demanding recycling products for which the company like Deloitte has introduced precise sites for positioning of the products to be further recycled.
• The company is also looking forward to investing in renewable energy investments, which help the company in reducing its environmental footprint.

Legal factors

• Every country in which the company is working demands businesses to make legal contracts relating the employment.
• All these contracts are sanctioned by several government figures, and also involves all the major aspect of employ in each country.

SWOT analysis

Strength

The major elements of Deloitte Consulting's business are examined in its characteristics, which provide it an edge over its rivals. The following are Deloitte Consulting's strengths in the SWOT analysis:

• Deloitte has additional 180,000 people and specializes in the review industry.
• Is currently working in more than 150 nations.
• One of the "Big Four" specialized services companies is Deloitte.
• More than 240,000 individuals are working at Deloitte.
• Audit, consulting, financial advising, tax, and legal are just a few of the professional services that Deloitte is skilled in (Gatellier, 2018).
• To highlight its robust brand attendance in the consulting industry, Deloitte relies on publicity.

Weakness

• A company’s inadequacies are exact areas of its corporate that may be better-quality to reinforce its location.
• Deloitte's aptitude to increase its market portion is inhibited by ferocious competition.
• Several workplace conflicts and legal challenges have harmed the brand.

Opportunity

Each product has the possible to progress in convinced areas to develop its purchaser foundation. Opportunities for a company comprise worldwide expansion, improvements, better communication, etc. Following are the opportunities in Deloitte Consulting:

• Deloitte might aid in global financial services due to its competence in finance and audit.
• The company has the opportunity to pursue more and more mid-market companies (Jiang, 2022).
• Buying smaller companies might help Deloitte's reputation.

Threats

• Strong rivalry from current market participants may cause Deloitte's market share to decline.
• Currency fluctuations have an impact on global initiatives.
• Businesses that establish their learning centres might cut down on their reliance on consultancy services (naGaelscolaíochta, 2019).

Conclusion and Recommendations

From the above report, it is concluded that the case company Deloitte is a consultancy giant in the international market which provides several consultancy services all over the world. And the company is very good at providing facilities and services to clients but according above analysis, the report suggests that government and the public service occasionally lack the necessary knowledge and Skill to manipulate the necessary controls. It is important for Deloitte to carefully consider the advantages and disadvantages of different business structures before making any decisions. Deloitte should evaluate its current structure and determine whether it is appropriate for its current and future needs. For example, if Deloitte is looking to expand globally or take on new partners, a partnership or LLC structure may be more appropriate than a sole proprietorship or corporation.

Deloitte should regularly evaluate its business structure and organizational functions to ensure that they are aligned with its strategic goals and objectives. This may involve conducting regular reviews of the company's financial performance, market position, and client liking, as well as assessing the effectiveness of its internal process and procedures. Deloitte should be prepared to make changes as needed to ensure that it remains competitive and responsive to changing market conditions.

Reference

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