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MOD003353 Business Environment - Anglia Ruskin University
Learning Outcome 1: Understand how the organisation is structured, governed and managed.
Learning Outcome 2: Appreciate the key external environmental constraints on a business.
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Every organisation has a specific organisational environment that helps to carryout out its every operation and functions efficiently and helps the business to grow further. The following study sheds light upon the international financial organisation Plus500 plc that provides online trading services to various asset classes and more than 2000 securities. The study provides an over view of the company including its history and illustrates the organisational structure and way of governance it has. In addition to this, the PESTEL analysis of the organisation has also been carried out to study the external environment within which it operates.
Business Environment is the most significant factor that facilitates its growth and development. It consists of all the external and internal factors upon which the business depends like needs and demands of the customers, political, social and legal factors, Employee, management, shareholders, suppliers, market trend and many more. All these factors affect the functions and procedures of the company and determine the way it would operate in the consumer market. When trying to establish a business or bringing a change in it for growth, it is important to study the internal and external factors that affect its structure so that the business can easily find out its strengths and loopholes and design its strategies accordingly.
Analysing the business environment also helps the organisation to develop a working structure and establish proper governances so that the organisation can enhance its standard and efficiency. In addition to this, the understanding the business environment also helps a business to chalk realistic working plans so that it is able to deal with the threats and opportunities efficiently and eliminate the adversities that come in the course of business. When a business gets adapted to its external affecting forces, it is able to operate in the market much proficiently and is able to thrive in for a longer time period. In addition to this, understanding the business environment also helps an organisation to deal with its resources properly and utilise them in an efficient way. It further increases the productivity of the company, making its performance enhance in the consumer market and help it to stay ahead of the competitors.
The following study sheds light upon the business environment of one of the leading financial firm Plus500 plc that operates in the globally market successfully. The study illustrates the organisational structure and governance it has and also discusses the factors that affects it external operating environment.
Background of the Company
Plus500 PLC is one of the leading international financial organisations that provide online business services in CFDs or Contracts for Difference for numerous asset classes and over 2000 securities. The company was founded by six alumni of the Technion - Israel Institute of Technology namely Gal Haber, Alon Gonen, Elad Ben-Izhak, Shlomi Weizmann, Omer Elazari and Shimon Sofer in the year of 2008. The company operates all over the world and has its subsidiaries in Australia, United Kingdom, Bulgaria, Cyprus and Singapore and has its main headquarter located at Israel. The present key people of the company are Penelope Judd, the chairman of the company and Asaf Elimelech who is the chief executive officer of the company (Plus500.com, 2019).
The company in its initial stage started with an investment of $400,000 which was mainly contributed by Alon Gonen and now the current revenue of the company has summed up to around US$720.4 million which can be counted as quite a success. The company since provides its services via internet, its initial operating platform was based on windows operating system. However, with time, the company launched its web based version for the Linux and Mac users and then a mobile passed application for iPad and iPhone users in the year of 2010 and 2011 consecutively. In addition to this, the android version of the application was launched in the year of 2012 (Plus500.com, 2019).
With time the application has got better and supports around 32 languages including English, Italian, German, Finnish, Danish, Romanian, Greek and many more. In addition to this, the application also contains traditional and simplified version of Chinese, Arabic, Hebrew and others. The users carry out 40% of the trading transaction using these mobile based applications than the web based platform. The company has a huge base of customers that has helped it to grow its business in the global market and expand its operation in the trading industry.
However, every business has its success and downfalls that helps the business to gather experience and learn from the mistakes it has made. The UK subsidiary of the company was fined around £205,128 by the FCA or the Financial Conduct Authority as the company failed to report their transaction details accurate for more than a year. In addition to this, the company also had to face a terrible loss in the year of 2015 when its sticks almost stooped down to 60 percent as the company froze the UK based trader accounts from its operations (Plus500.com, 2019).
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Task 1 - Examine how your chosen company is governed and structured.
Organisational Structure of the company
Every business has a specific organisational structure of operation through which it is able to plan out its operations and procedure in order to achieve the goal it has to achieve and live up to the expectation of the consumer market. This organisational structure helps the organisation to enhance its operational accuracy and standards and helps the company to boost its performance with better productivity. In addition to this, a good organisational structure helps to establish a proper management system through which the company is able to control and allocate and its resources and activities in a better way. It facilitates employee retention and helps the company to gain a good number of satisfied clients and customers.
Like every other company, being an international finance trading company that operates online, Plus500 too has an efficient organisational structure which has helped it grow and operate successfully over the years. The company follows a divisional structure in its operations and a board of directors to look over the operations and procedures of the firm. The divisional or the multidivisional structure of the company helps it to deal with subsidiaries effectively and manage its entire operations in an efficient way.
The hierarchical structure of the company helps it to manage its activities and procedures in an efficient way and plan the strategies effectively so that the company can operate smoothly in the market. In addition it also helps the company to establish a better management structure through which it can manage and administer the entire organisational functions in a transparent and better way. In addition to this, it helps the company to manage the resources properly and have proper utilisation so that the company is able to earn maximum profit outcome. The divisional organisational structure of the company has facilitated better decision making regarding the job responsibilities, salary structure and scale for each of the employees.
The company has a huge employee base and offers its clients to trade CFDs in more than 50 countries. The company has been listed on the London Stock Exchange's Main Market for Listed Companies.
Organisational Governance and Management
Plus 500 PLC is mainly a financial company that provides online trading services to various organisations (Du Plessis, Hargovan and Harris,J., 2018). Companies headquarter is situated in Israel and apart from this other sub-headquarters are located in the United Kingdom, Australia and others. In addition to this, the company is an authorised firm around the world. In recent years, the company was listed among the premium listing segment that needs to add different practices and policies to it in order to maintain consistent growth. Moreover, every corporate policies and rule follow the code of the United Kingdom corporate governance code (Samra, 2016).
The company follows and maintains every rules and regulation provided by the United Kingdom corporate governance code (Yermack, 2017).
The company is bound to report to their stakeholders that come under the listing rules of the United Kingdom corporate governance code. However, the company Plus 500 PLC is an Israel company and due to this reason, the company maintains a set of corporate governance rules that comes under the 5759-1999 Companies Law. Majorly the company follows two different corporate governance rules and for this reason, an obvious conflict of interest arises among the directors which create a direct impact on the board (Tricker and Tricker, 2015).
In addition to this, the company majorly operates from the finance section and due to this reason it follows financial management activities. This further helps to manage, monitor, organise and control every financial aspect in order to achieve the organisational target. Moreover, it provides accurate planning to manage every funds, account, pay structures. Additionally, it majorly manages every financial factor of the company and provides a solid risk assessment method. The financial management has a board of directors who helps to manage every organisational and financial department of Plus 500 PLC. The board of directs has Independent Non-Executive Director, Chairman, Senior Independent Non-Executive Director, External Director, Chief Executive Officer, Managing Director and Group Chief Financial Officer. They all are responsible for managing the organisational management section in a more accurate way.
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Task 2 - Evaluate the importance of carrying out PESTEL analysis for an organisation.
Importance of carrying out PESTEL in an organisation
The PESTEL analysis helps to know more about the external factors that create an impact on the organisation. In addition to this, the term PESTEL stands for political, economic, social, technological, environmental and legal. These are some major factors which create an impact on organisational performance (Perera, 2017). Moreover, this also known as a strategic planning process which helps to reduce every organisational threat. There are so many benefits associated with the PESTEL analysis such as cost effectiveness, creates an alert for the threats, helps to identify the opportunities. The PESTEL analysis is a cost effective process which requires a straight forward method and time. Further, it helps to gather various feedbacks and inputs with the help of documents only. Moreover, this further helps to gather a deeper understanding of every factor which is creating an impact on the organisation both internally and externally. This further helps to know more about the factors which create a direct impact on the product launch and its success which further encourages development (Islam, 2017).
The PESTEL analysis further helps to plan a proper marketing plan which establishes a more effective customer relationship. It raises general awareness towards every potential threat regarding the competitors and product (Rastogi and Trivedi, 2016). This exploits every potential opportunity associated with the company's growth. PESTEL analysis helps to know more about the current technological and social trends to move towards the target market and a new social chain. In addition to this, this helps to identify every political and organisational change which has an influence on the business culture (Grünig and Kühn, 2015).
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Task 3 - Use the PESTEL framework to analyse the external environment of your chosen company.
PESTEL Analysis of Plus500 PLC
The PESTEL analysis of plus 500 PLC helps to know more about the macro environments which creates a direct impact on the organisational structure. The PESTEL, in this case, stands for, political factors, economic factors, social factors, technological factors, environmental factors and legal factors. All these factors create a direct impact on the macro environment of the Pus 500 PLC. The changes in any of these factors create a direct impact on the financial structure.
Political Factors that Impact Plus500 Ltd
The political factors create a major impact on the Plus 500 PLC's organisational structure in different countries. It operates its financial services from various countries which opens the company in different political situations. In order to deal with these political risks, the company needs to operate a systematic and dynamic financial service. In addition to this, before entering a United Kingdom market the company needs to check different factors such as, checking the political stability of the country and monitoring the need for financial need. Apart from this, there are other factors that need to be taken care such as, the risk regarding military invasion, the corruption level of the country, the interference level of the government bodies in the financial services, frameworks regarding legal matters, employee benefits, safety regulations regarding industry, taxation process legislations regarding the wages and other factors.
Economic Factors that Impact Plus500 Ltd
There are so many factors associated with the economic structure of a company in United Kingdom such as interest rate, foreign exchange rate, savings rate, inflation rate and others. The factor like competition norms creates a direct impact on the company's competitive advantage. There are some major factors that need to be taken care by Plus 500 PLC such as the economic structure of United Kingdom, the intervention of government bodies in the financial service, education level regarding the economics, various rates regarding interest and inflation. Apart from these, the growth rate, unemployment rate needs to be considered properly.
Social Factors that Impact Plus500 Ltd
The social factors create a direct impact on the Plus 500 PLC. There are various factors such as shared beliefs and actions of the United Kingdom's people, create an influence on the organisation. There are some factors that need to be considered in the PESTEL analysis of Plus 500 PLC such as the skills and demographics of the public, the hierarchy structure of the society, education level of the United Kingdom people, the gender roles. Apart from this, the organisation needs to checks the health environment.
Technological Factors that Impact Plus500 Ltd
The technological factor is creating a major impact on the current industry structure in United Kingdom. The technological department of Plus 500 PLC needs to consider different matters to present an accurat5e PESTEL analysis such as current and developed development of organisation's competitors, the impact of technology, the impact of the value chain on the financial structure of the company.
Environmental Factors that Impact Plus500 Ltd
Different environmental factors create a different impact on the market structure of United Kingdom. United Kingdom has different environmental and liability laws which create an impact on the organisation named Plus 500 PLC. Moreover, the company needs to consider different factors of the environment while performing a PESTEL analysis in United Kingdom such as, climate and weather change, environmental pollution laws, recycling, waste management, green initiatives and others.
Legal Factors that Impact Plus500 Ltd
The Plus 500 PLC needs to consider the legal factors more carefully before entering a new market in United Kingdom which helps them to achieve a competitive edge. Some essential legal factors that need to be monitored by Plus 500 PLC are data protection, antitrust law, employment law, health and safety law, intellectual property law.
From the above study it can be concluded that business environment is an important factor for a business to consider when it is operating in the consumer market. This is because all these external factors affects the entire operation and structure of the business and determines its performance in its target market. In addition to this, understanding the business environment and getting adapted to it can earn potential benefits for the company. It helps the company to understand the trends of requirements of the market and assist it in developing better product and services so that the company can serve the consumers and the market needs efficiently. Moreover, a good analysis of the business environment helps the company to identify its threats and opportunities and formulate strategies so that it can deal with appropriately. It helps the company to earn greater benefits in terms of profit and boosts its sustainability in the business market.
The study above provides an overview of the leading international finance trading firm Plus500 Plc that carries put its operations on online platform. The study provides a brief overview of its history and background and discusses the organisational structure and governance it has. In addition, the study also offers a brief idea on the importance of PESTEL analysis and uses the same framework to analyse the external factor of Plus500 in an efficient way.
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