Organization is a work place where there are group of people with their different professional roles under different work category. This work place is setup in order to achieve some set targets that include managing director, chief executive officer, manager, teamwork, co-workers, and employees. These people work together to achieve the goal of the organization, assigned with different roles and responsibility. Success of organization largely depends on the size, behavior and scope with respect to the type of organization.
In order to achieve maximum output, an organization needs to play important functions to achieve those set target. Those functions are decision-making, efficiency, leadership, team management, communication, better salaries and rewards for good work. There must be efficient use of resources, for that there must be availability of standardized and updated technology for good growth of company standards. Proper communication and friendly atmosphere encourages employees to work with more interest and efficiently.
In an organization, what matters most is teamwork. When there is a team system, an organization tends to finish the given task faster in the simplest ways with less time. Different people possess different skills and attributes; therefore, a company gets various new ideas and innovative solutions because of team contribution. Teamwork influences largely in the creation of organization profit. To keep motivating employees and staffs there must be attractive salaries and packages with extra benefits and rewards for their hard work.
To maintain stability, there must be leadership skills, good decision power to manage correct decision regarding proper allocation of resources, modern technology for better production. There should be accurate financial planning, plans and policies for the company’s goodwill. Proper assigning of roles and responsibility leads to achieve greater heights in the company’s performance.
Second part of the report discusses in detail about the types, sizes and scope of the organization. Organizations as profit and not for profit come under financial organization, small medium enterprises, micro organization, global organization, line organization, divisional organization, project organization structure.
Profit organization is a legal organization, runs by the company or the sole business, means a type of organization with the aim to earn profit. Profit earned with the purchase and sale of goods and services (Brundrett and Rhodes 2013). Nonprofit organizations earn profit for the benefit to provide service to the society (Craig 2015). The owner of profit in case of profit organization is the one, who earns, in non-profit no one is the owner. Therefore, this is termed as financial organization. Small and medium enterprises deals with two different kinds of enterprises, they are manufacturing and service sector.
Small and medium enterprises are establishes according to the size and investment. They are small business setup with small scale of production (Crespi 2014). They play a key role in the growth of the economy providing employment to the unskilled and semi skilled workers in manufacturing of goods and providing services to the low skilled workers (Dudala, Reddy and Prabhu 2014). If the small and medium enterprises perform well then the export side can increase leading to good production and output.
Micro organizations are the small organization setup that has a very small group of employees especially located in local areas with adequate capital. Retailing, wholesaling and financing services are the micro enterprises. Therefore, scope of this type of organization is large as it covers the retailers and the wholesalers. They take quick decision regarding any of the sector in relation to proper management is taken by the owner of the business. The investment pattern, infrastructure facilities, construction sector, everything is taken care of by the owner of the organization. These business organizations are setup with their specialized skills and attributes, therefore export criteria increases lead to increase in the volume of the output.
Global organization deals with the partnership of many organizations being setup with an aim to maximize profit and living standards (Eagly 2013). If there are good global relations then there is greater scope of international trade with the trading partners. Good global relations create more encouragement to new opportunities, more job creation that is a good sign for the growth of the GDP and economy.
Line organization found in the marketing and production sector that deals with a type of business, which is set in a scale form that is from first to last or top to bottom as per the specialized skills (Huang 2015). In terms of marketing, good advertisements creates betters scope for marketing and sale of product, attractive labeling and packaging of the product create good line of business. In terms of product market, a quality production leads to more demand for the product in the market (Musa et al. 2016). There must efficiency in the line of production without any wastage of resources. As a result, good production creates good output.
Divisional organizational structure completely related to geographic location that is it varies with size and area (Nisbet 2013). Business divided into different heads at different places. Geographic distribution of business units creates a greater scope for both the producers and supplier; it leads to more demand of various products as more business creates more competition.
Project organizational structure is a type of organization that is engaged in a particular specific project, manager is the final person to check the project and to make the final statement regarding the workings of the project (Reddick and Roy 2013). Scope is wide as projects undertake specific areas and it is done by a group of team member .a team is made with a group of few people with different skill and creative talents. Therefore, an organization creates more output by delivering a quality and standardized project.
While analyzing the relation of stakeholders in the organization then one needs to know about stakeholders. Stakeholder is a party who can be a shareholder, debtor, creditor, an investor, customers, and employees, one who does business with interest (Stanley 2014). Whole business or company’s performance depends on the activity of stakeholders. The decision of business or an organization largely depends on the activities of stakeholders. Stockholders are important because they create profit to the business or organization.
There are various stakeholders within the organization For instances, shareholders are the ones who put money into the business thereby creating more capital leading to more profit , due to which they share the amount of company’s profit afterwards(Monsalve, Suárez and Brent 2014). Shareholders play a dominating role both positively as well as negatively. If the stakeholder gets success and satisfaction from the work then it is a positive stakeholder.
Negative stakeholder means if an individual is unsatisfied, does not get enough success then it is negative stakeholder. The organization is unable to fulfill the requirements of stakeholders therefore creates negative impacts on stakeholders. Due to negative impacts, stakeholders might not help in the work of the organization.
Stakeholders when acts as investors, then they deal with decision making, policies and plans of an organization to run smoothly. They also check the financial stability of the organization if the stakeholders are the committed investors. These stakeholders largely generate pool of profit for the organization by being efficient employees. By deliberating their work with efficiency, employees generate maximum output to the organization.
Stakeholders can be internal as well as external. Internal stakeholders are the customers, employees. For instance, if the employees do not get proper facilities or good salaries in return of their efficient and hard work, they are bound to act as negative stakeholder for those organizations and they will not be motivated anymore to help that organization in generating profit.
Other way round, if the employees get good facilities and salaries, they are motivated to work more with utmost dedication and efficiency finishes their targets before time that in turn helps the organization to generate more output and profit (Varley and Rafiq 2014). One who functions inside the organizational structure or in the business sphere is the internal stakeholders.
External stakeholders are the ones who perform their functions outside the organization. Examples of external stakeholders are the consumers, shareholders, suppliers. For instance, consumers, if not satisfied with the products they use then become the negative stakeholders and they will not invest their money in that business anymore from where they do not get satisfaction.
On the other side if they are satisfied consumers then it is good for that business , because when consumer gets satisfaction, then there is more demand for that product leading to more production , as a result business earns more income.
In order to discuss the influence of business industry on macro economic factors, then one take an example of a case study on Toyota industry. Toyota industry, an automobile industry came in to existence in the year 1937 in Japan. With the constant focusing on the improvements in the quality and efficiency in production led the industry to greater achievements both in the Japanese market as well as in international market. They believe in innovation therefore always-implemented new and innovative ideas that made them success globally. In the year 2013, there was a robust growth in the sales sector of this industry, led to become the second largest automobile industry globally. Toyota is an inspiration to the rest of the business industry as how to deal with the circumstances and to discover greater outputs from it.
Toyota achieved success for its passion, hard work, focus on aim, innovation, and of course, and the continuity in the improvements of their work (Veselovsky et al. 2015). Toyota also created global trading with south East Asian countries industry during their tough times never gave up, instead came up with the startup and then slowly they started dealing with market fluctuations, and with every challenges they came up with new and creative ideas as solutions. This positive attitude led the industry to become world’s luxurious automobile sector.
Various positive and negative macro economic factors can influence the Toyota business industry that is Socio economic, political factors, environment factors and technological factors. Now the influence of these factors is largely depended on the output and functioning of the Toyota industry.
Political factor deals with government stable functions in the industry will help the industry to expand more globally , if the government encourages for modern technology then there will more production and output. Good and stable trading relations globally can make the industry to grow rapidly and aims for maximum profit. When the political relations with other countries are good then it acts as a positive merit for the business market to create more global relations and agreements with different countries.
Social and economic factors deals with society and the economic factors, means business should be consumer friendly with reasonable rates. Comparing with other countries growth rates and the export position then the market should create more production in order to increase export (Wu and Guo 2015). In terms of economic factor, the large source of revenue comes from middle-income group of customers therefore there should be reasonable rates, as it creates more demand for the middle group customers. More customers create more income for the industry.
Technological factor refers to modern technology and innovative solutions add on to more production and tough competition in the market. Environment factors include decree in the global price of oil will lead to more opportunity and output in the industry. Product should be environment friendly as to avoid pollution issues.
Referring to the strength of this industry then there are few factors that can lead to the greater success and stability of the industry. To be different from other industry, an industry should possess some unique attributes like innovation and this is what Toyota makes a difference globally. Innovation comes from more and more of research and development in respect of that particular industry. When the industry performs well it creates more competition due to high price and success, further creates demanding industry. Expand of industry occurs because of increase in demand, thereby increase in demand leads to increase in production and output growth.
On the other side, strength comes from correcting the weaknesses. Every industry has positive and negative attributes. As it is a luxurious automobile industry and hold top position therefore unable to compete with the rest of the automobile sectors. Collection of trademarks with respect to other industry is quite low.
Conclusion
In conclusion, statement with reference to business environment and organization then an organization is a place of doing business with different stakeholders with the aim to achieve the set target and to earn maximum output and profit. Relating the business environment and Toyota industry with respect to macro economic factors then it holds a very strong and top-level position worldwide.
To justify the statement with the help of a case study on Toyota industry, the industry gives an overview on the developments, success and the way of dealings during bad and tough times. It made a statement that innovation and efficiency leads to success of an organization is what it led to the success story of Toyota industry.
References
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