Essay on Business and Commercial Awareness

AN ESSAY ON BUSINESS AND COMMERCIAL AWARENESS
AN ESSAY ON BUSINESS AND COMMERCIAL AWARENESS
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1AN ESSAY ON BUSINESS AND COMMERCIAL AWARENESS
The study of business process, business planning and business strategies has empowered
me to face the challenges of the industries. I have always wondered how these big organisations
in the market play so well and make huge profits. How their business runs so smoothly. This
confusion got solved after studying this course related to business planning. A business plan is
documentation of the business process that consists of how the business will achieve its goals. It
is a layout of plans including marketing strategies, financial data and operational framework. A
business plan is the most fundamental tool that an organization needs before starting its business
process. A start up especially in its budding phase prepares a plan to support its ultimate goal.
That will outline everything from forming a team to deciding the operational foot print to
marketing sales and salaries. A business plan is essential for any investing firm like banks or
venture capitalist they need the robust business plan before putting money into it (Prajogo,
2016).
A company may fail in achieving its goals if they don’t have a process planning framework and
execution of the plan. There is many such organisation that has faced challenges in this
competitive market and failed to stand out or even perform properly. A great business plan
outlines all the costs and the impact of each decision a company takes. The plan must include an
overview of the industry of the business that it will be a part, and how it wins over itself its
potential competitors. Elements of business planning are product and services identification,
market analysis, competitor analysis, market strategies, financial planning, budgeting and human
resource maintenance (Page and Söderbom, 2015).
The factors that a business considers before forming the strategies are the micro and macro
environment in which it will be running. The micro environment is the environment in which the
company is operating. The functioning of the micro environment is directly impacting the firm.

2AN ESSAY ON BUSINESS AND COMMERCIAL AWARENESS
The factors are competitors, customers, shareholders, suppliers and employees. Each element can
impact the firm directly and have the power to modify the business process (vom Brocke, Zelt
and Schmiedel, 2016).
A macro environment is in which the firm operates in an economy and a society. There are
factors which are not under control by the firm. It is condition that exists in the economy as a
whole, In general it includes trends in gross domestic product, inflation, employment, spending,
and monetary and fiscal policy (Van Reenen, 2018). I studied many case studies on industries
and its issue relating to micro and macro environmental changes. Almost every changes that it
was done on the industry was more or less related. It can be concluded that most of the industries
face the same kind of issues around the world (Hair et al. 2015).
Based on the data of Ryanair Airlines which is a low cost carriers in Europe. It works in It
twenty eight countries around Europe as a flying carrier. In current days the company is facing
large disruption in services due to strikes. The employees are demanding monetary contracts on
the basis of the law of the nationality of the workers and not based on the Irish law. I shall be
analysing the micro and macro business environment of the company to understand how all these
factors can be modified to get the required outcome. If the scenario is taken into consideration I
can relate the problem of organization to a combination of micro and macro environment.
Analysis as per the micro environment suggests that employee are integral part of an
organization and they form the part of the company (Schaltegger et al. 2016). The employees are
unhappy with the policy of the Airlines. They are demanding country specific contract regarding
their pay and social benefit and social security facilities. A skilled and experienced employee has
all the expertise to run an organization. This is under the control of the organisation it can
change the policy and make the employee happy. But the major issue is of the macro