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LLOYDS Bank as an Organization

   

Added on  2020-01-21

14 Pages4781 Words195 Views
Business Environment1
LLOYDS Bank as an Organization_1
TABLE OF CONTENTSIntroduction .....................................................................................................................................3Task 1...............................................................................................................................................31.1 Purpose of different type of organization .............................................................................31.2 Extent to which LLOYD’S as an organization meets the objectives of differentstakeholders..................................................................................................................................41.3 Responsibilities of LLOYDS Bank and strategies adopted by the brand to meet them........42.1 Economic systems attempt to allocate resources effectively.................................................52.2 Impact of fiscal and monetary policy of UK on LLOYDS Bank and other organization.....62.3 Impact of competition policy and other regulatory mechanism on activities of LLOYDSBank.............................................................................................................................................6Task 3...............................................................................................................................................73.1 Market structure and market conditions determining pricing strategies of LLOYDSBusiness ......................................................................................................................................73.2 Way in which market forces shapes organizational response................................................83.3 Business and cultural environment in UK shapes behaviour of LLOYDS business.............94.1 Significance of international trade on LLOYDS business and Tesco ................................104.2 Impact of global factors on LLOYDS business and Tesco .................................................104.3 Two European Union policies and the impact of these policies on LLOYD’S business andTesco .........................................................................................................................................112
LLOYDS Bank as an Organization_2
Conclusion ....................................................................................................................................12References......................................................................................................................................13INTRODUCTION Business environment can be termed as set of different external forces which affects theoverall decision making and operations of an organization. It can be also explained that thesefactors or forces are not in control of businesses (Kew and Stredwick, 2005). The present study isbased on LLOYDS Bank which is a UK based commercial and retail bank. This report depictshow the bank respond to various kind of changes in its business environment. In addition to this,it also reflects the impact of competition policy and other regulatory mechanism on the bank.The present reports explain the effect of pricing and output decision on LLOYDS Business.Other than this, it also covers Two European Union policies and the impact of these policies onLLOYD’S business and Tesco. TASK 11.1 Purpose of different type of organization Organization can be defined as group of people which has gathered together to achievecollective goals and objectives. It can be also argued that different type of organizations operateswith different purposes. The four different type of organization are mentioned below as: 3
LLOYDS Bank as an Organization_3
Sole traders- These are the persons which carry out the operations and activities oforganization by their own. Furthermore, sole traders are also responsible for all lossesand they also take care of all profits (Capon, 2009). It is also termed as one of the oldestand most common form of organization. Partnership- Partnership can be defined as the relationship between to or more personwho has agreed to carry out a particular business activity by sharing profits and lossesbased on their mutual understanding (Carter, 2007). The advantage of such organizationis that it is very easy to form and more capital is available for carrying out operations ofbusiness smoothly. Companies- Company can be termed as association of individuals which operatestogether to accomplish a common purpose. There are two different type of companieswhich are public and private limited (Chavis, Klapper and Love, 2011). The commonpurpose of public limited companies is to provider customers with quality productswhereas private companies aims at achieving higher sales. Franchisee- It is the type of business organization in where a little amount of funds arerequired to be paid along with various royalties. Such type of organization operates withthe name of another business which are well known brands in the market. The logo, nameand business model is being shared by owner to other parties. LLOYDS Bank falls in the category of public limited company. Main purpose of thebank is to provide the highest quality and best possible kind of services to all its customers. Thisis the only reason why it keeps on upgrading and improving all its services. 1.2 Extent to which LLOYD’S as an organization meets the objectives of different stakeholdersIn order to survive in long run, businesses are required to take care of all their internaland externals stakeholders. Furthermore, stakeholders are those parties and individuals whichhave some sort of interest in activities and operations of organization (Aras and Crowther, 2011).Major stakeholder of the bank includes customers, suppliers, employees and investors.Customers ofLLOYDS Bank requires quality services at convenient prices. On the other hand,employee seeks for better working environment and opportunities for growth and development.Investor wants adequate and good amount of return on the investment they have made. At lastsuppliers seeks for developing long term relationship LLOYDS Bank. The organization has4
LLOYDS Bank as an Organization_4

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