Assignment on Financial Accounting (pdf)

Added on - 22 Nov 2020

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BUSINESS ENVIRONMENT
Table of ContentsINTORODUCTION........................................................................................................................1TASK...............................................................................................................................................1a) The key issues in the business environment that are significant for organisations in the“Personal & Household Goods”.............................................................................................1b) Possible impact and key issues in furnishing.....................................................................3CONCLUSION AND REFLECTION............................................................................................5REFERENCES................................................................................................................................6
INTORODUCTIONTo run a business in a successful manner it is important to understand the environmentwithin which the business has to be operated. As there are various factors that can hamper theentire process whether internal and external (Crane and Matten, 2016). Therefore, it is importantto know the various components through which company can grow in a better manner. Theassignment will throw light on different issues that may arise in business environment in contextwith Personal & Household Good. Apart form this, possible impact in key issues in furnishingsub sector is mentioned in this report.TASKa) The key issues in the business environment that are significant for organisations in the“Personal & Household Goods”Over the last decades, an increase in consumption of goods and services can be seen andit is growing in a rapid speed throughout the world. In context with humans, although it hasmake the life easier but using a large number of resources has lead to depletion of the same andas a result it has done severe damage to the environment.Personal and household products encompasses a variety of commodities that are used bycustomers according to the daily requirements. It includes goods like cleaning and laundryproducts, luxury cosmetics and beauty products, oral care or OTC medicines and many more.Companies that manufactures these kinds of products faces many issues such as to maintainingthe quality and integrity of the product, ensuring customers' safety, focussing on luxury packagesand many more (Fernie and Sparks, 2014).The pace of technology is increasing as per thecurrent market situations, therefore, people are waiting for next-generation technology so thatthey can use it for making life easier. It is helping an individual in performing the task in a bettermanner. Hence, technology is assisting companies in providing competitive advancement. Incontext with Personal and Household sectors, now organisations are focussing on developingproducing goods that are easy to handle this has save time and cost of customers as well but it ishaving a great impact on the health of people as physical activities has been reduced due towhich health is deteriorating day by day (Harrison, 2013). Along with this, organisation are notbeing able to manufacture goods as per the needs and wants of customers and because of this,1
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