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Business Economics Assignment PDF

   

Added on  2020-12-09

7 Pages1889 Words235 Views
ECONOMICANDTHEBUSINESS

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Identify and evaluate the impact the economy has on business organisations............................1TASK 2............................................................................................................................................2Appraise and apply economic theory to a range of contemporary business contexts.................2TASK 3............................................................................................................................................3Analyse the micro and macro economic forces on contemporary business................................3CONCLUSION................................................................................................................................4REFERENCES................................................................................................................................5

INTRODUCTIONBusiness economics is a discipline of applied economies that studies the issues faced bycorporations and devises quantitative methods to analyse business performance (Jones, vanLeeuwen and Broadberry, 2012). It analyses and assessment of economic theory for businessorganization, management enlargement and strategy. The economic factors of the businessinfluence of the organizational structure and coordination with different business in subject suchas labour, capital and product markets. The present report is going to evaluate the impact ofeconomical factors on failure organisation. For this purpose, greenwoods was a long establishmeans wear retailer stores and it had more than 200 stores in 1990s. In presented report focusedon impact the economy and apply economic theory to range of contemporary business context.Evaluate the micro and macro economic forces on business. TASK 1Identify and evaluate the impact the economy has on business organisationsIn present time mostly companies are focusing on identifying and fulfilling the needs ofcustomers in particular niche markets. But today market economic trends are fluctuated andaffect to their business. These market trends are creating problems to managers for appropriatedecision making process. In the context of Greenwoods was established in 1860 and operatesmenswear stores that was more than 200 in 1980s. According to EMAP publishing Ltd the chainof Greenwoods has discontinued their trading and closed its stores in the north of England. Thewebsite of company display message to customers “sorry, this store is currently unavailable”.The company has leave posters on some stores window that read “All outlets of versatileinternational trading Ltd t/a greenwoods menswear have now closed for business permanently”.the manager of the company announced company have pre tax profits 22000 and it was down onthe previous year's figures of 68000 (Wirtz, Tuzovic and Ehret, 2015). the decision dispose of itsfreehold asset property and let out their retail space. The financial director of Hanson partnerswhich owns greenwoods menswear said – it was a long term decision to move away fromfreehold. It's all part turn around position from a loss making company at the turn of the century. The liquidation reason of Greenwoods business over in these areas (North England), canbe identified by analysing economical impact, as mention below - 1

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