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BUSINESS ENVIRONMENT TABLE OF CONTENTS INTRODUCTION 3

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BUSINESS ENVIRONMENT TABLE OF CONTENTS INTRODUCTION 3 TASK 1 UNDERSTANDING THE ORGANIZATIONAL PURPOSES OF BUSINESSES3 1.1 Identifying the purposes of organisations3 1.2 Describing the extent to meet the objectives of different stakeholders 5 1.3 Various responsibilities as an organisation and the strategies it employs to meet them7 TASK 2: TO ADDRESS AND EXHIBIT AN UNDERSTANDING TO THE NATURE OF THE NATIONAL ENVIRONMENT IN WHICH BUSINESSES OPERATE8 2.1 Determining different types of economic

BUSINESS ENVIRONMENT TABLE OF CONTENTS INTRODUCTION 3

   Added on 2020-01-28

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BUSINESS ENVIRONMENT TABLE OF CONTENTS INTRODUCTION 3_1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3TASK 1 UNDERSTANDING THE ORGANIZATIONAL PURPOSES OF BUSINESSES........31.1 Identifying the purposes of organisations.............................................................................31.2 Describing the extent to meet the objectives of different stakeholders.................................51.3 Various responsibilities as an organisation and the strategies it employs to meet them.......7TASK 2: TO ADDRESS AND EXHIBIT AN UNDERSTANDING TO THE NATURE OFTHE NATIONAL ENVIRONMENT IN WHICH BUSINESSES OPERATE..............................82.1 Determining different types of economic-system with example..........................................82.2 Assessing impact of fiscal and monetary policy on Iceland Supermarket............................92.3 Evaluating the impact of competition policy and other regulatory mechanism on Icelandsupermarket.................................................................................................................................9TASK 3: TO UNDERSTAND THE BEHAVIOUR OF ORGANIZATIONS IN THEIRMARKETING ENVIRONMENT ................................................................................................103.1 Market structures determine the pricing and output decisions of businesses.....................103.2 The way in which market forces shapes Iceland Supermarket responses...........................113.3 Judging the business and cultural environments that shapes the behaviour of IcelandSupermarket..............................................................................................................................11TASK 4: UNDERSTANDING THE GLOBAL FACTORS AND ASSESSING THEIRSIGNIFICANCE TO SHAPE NATIONAL BUSINESS ACTIVITIES.......................................124.1 Discussing the significance of international trade to Iceland Supermarket........................124.2 Analysing the impact of global factors on Iceland Supermarket........................................134.3 Evaluating the impact of policies of the European Union on Iceland Supermarket...........14CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................15
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INTRODUCTIONBusiness environment is a kind of surroundings that enables the managerial aspects toperform the entire set of activities related to their businesses. It is necessary that an organisationshould develop effective and professional working environment in order to mark better presencein the sector and attain desired form of objectives. The set of factors has different internal andexternal elements which impacts the business environment of the organisation and their presentHuman Resource (HR) team (Ahmed, 2012). In addition to this, the group of internalenvironmental factors consists of 5 M’s that are management, material, money, machinery andman (workforces). On the other side, external environmental factors includes the elements thatare impacting from the outside of surroundings of the business which are demo-graphical,economical, socio-cultural, political factors, government and legal factors. Iceland supermarket chain is one of the biggest and leading network of stores that offerswide range of frozen foods like precooked meals and vegetables in United Kingdom (UK). Thechain is generally famed for delivering food products at affordable prices and a maintained levelof high-quality in the foods.TASK 1 UNDERSTANDING THE ORGANIZATIONAL PURPOSES OFBUSINESSES1.1 Identifying the purposes of organisationsIn current era of globalisation, every organisation has their own mission, vision and set ofobjectives which defines their purpose of performing the business operations in the concernedsector (Camacho, L., 2012). Thus, it is crucial to understand and assess the information abouttheir strategy and objectives in order to identify their purposes that are stated as:Private firm – When a firm is controlled and functioned by a group of private bodies whogenerally do not share any part or their owning with government and any other publicparties are termed as private firm (Baer, 2001). They manage all the requirements offunds and investments by their own and share profit among themselves.◦Iceland Foods Ltd – It is a UK based business of frozen food supermarket chainwhich wide range of ice stored food and meals. The company has a share of 1.8% inUK food market which includes 850+ stores in the national region and 200 stores ininternational sector. Being as a private firm, their main purpose is to increase their
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earning capacity and market value every accounting year. The owners of the citedcompany is mainly focused on developing new ways of attracting many investors andmaintaining their retention by providing them high profits against their shares.Public firm – It is a kind of firm which is generally owned by public that have shares andstocks disposed among all of them. Such firms have large amount of capital and highform resources for addressing new opportunities.◦Kentucky Fried Chicken (KFC) – KFC is among the leading fast food chain ofrestaurants that offers wide range of products and is mainly known for itsspecialization in fried chicken. The cited company is based in US and has its marketin 125 countries with 20,000 restaurants all over the world (Crowther and Aras,2010). It is a subsidiary of Yum!Brands which is a public company and has its stockexchanges is mostly owned by public bodies. Their purpose is to provide betterbenefits to the market and the public owning their shares. Illustration 1: Iceland operating profits every year from 1981(Source:Kale, 2014)
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