Assignment of Business Environment

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Added on 2019-12-03

Assignment of Business Environment

Added on 2019-12-03

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BUSINESS ENVIRONMENT

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1 Purpose of different type of organizations............................................................................31.2 Extent to which organization meet objectives of different stakeholders..............................41.3 Responsibilities of an organization and strategies to meet them .........................................4TASK 2............................................................................................................................................52.1 Way in which economic system attempt to allocate resources.............................................52.2 Impact of fiscal and monetary policy on the business firms activities................................52.3 Impact of competition policy and regulatory mechanism on business activities..................6TASK 3............................................................................................................................................73.1 Market structure and price as well as output decisions ........................................................73.2 Way in which market forces shape organization response...................................................73.3 Business environment of British airways..............................................................................8TASK 4............................................................................................................................................94.1 Significance of international trade to business organization.................................................94.2 Impact of global factors on the UK business organizations..................................................94.3 Impact of policies of European union on the UK business organizations..........................10CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11

INTRODUCTIONBritish airways are the UK largest airline company in terms of revenue and fleet size.This report is prepared on the business environment and every attempt is made to understand it inproper manner. In the report, different organizations are described and their purpose is alsoexplained in detail in the report. After that responsibility of the firm towards stakeholders is alsodiscussed in detail in the report. In the middle part of the report economic system and resourceallocation in them is explained in proper manner. Along with this, monetary and fiscal policy andits impact on business activities is discussed in the report. At end of the report, European Unionpolicies are explained in detail.TASK 11.1 Purpose of different type of organizationsFollowing are the different type of organizations. 1.Public organization- These are government owned companies and the main purpose ofthese firms is to make sure that their employee’s are working in better conditions. Inother words, it can be said that purpose of these firms is to do welfare of the employee’s.Hence, it can be said that purpose of these organizations are different form private firms.2.Private firms- These are those firms whose main objective is to earn profit. They alsofocused on employee welfare (Ballard, et.al, 2012). But maximization of profit is themain purpose of these organizations then employee welfare. Due to these reasons privatefirms are making every effort to earn more and more profit in their business.3.Nonprofit organizations- The main purpose of these organizations is to do welfare of theneedy people that may be orphan, blind or impaired from listening. Thus, purpose ofthese organizations is totally different from public and private companies.British airways are the one of the largest airline company of the UK. The vision of theBritish airways is to become a premium global airline in the world. In order to achieve visionmission statement is prepared. The mission of the British airways is to become favorite airlineglobally by providing excellent services to the customers (Wirtz, Schilke and Ullrich, 2010). Inorder to achieve mission objectives are prepared and its main objective is to adopt carbon controlmeasures that lead to less emotion of carbon from its airplanes. The vision, mission andobjectives are prepared in sequence. Vision is long term plan which is to become global premium

airline in the world. This can be achieved only when firm provide high level of service quality.Apart from this British airways also have some of the CSR towards its stakeholders. Due to thisreason it prepares its objective to reduce carbon emit-ion from its airplanes. Hence, thesestatements will certainly help British airways in achieving its objective. 1.2 Extent to which organization meet objectives of different stakeholdersFollowing are the important stakeholders of the British airways.Creditors- Without funds no business can be run in proper manner and these are thoseentities that provide loan to the British airways and help it in running its business. It isresponsibility of the British airways to pay loan on time (Scheer, 2012). Mentioned firmunderstand this thing and it always try to pay its loan amount to the relevant creditors.Employees- These are those who work for an organization and provide service on thebehalf of firm. They spent a substantial part of the day in the workplace and due to thisreason it is responsibility of the firm to take care of its employee’s. In past few years firmcarry out many welfare activities regarding its employee’s. Hence, to large extent it isfulfilling its responsibility towards its employee’s.Government- It is an entity to which British airways pay a tax which is due for a year(Weske, 2012). Firm is paying its tax time to time and due to this reason it can be saidthat it is meeting objectives of its stakeholder.1.3 Responsibilities of an organization and strategies to meet them Following are the responsibilities and strategies that can be employed to meet theseresponsibilities are as follows.Creditors- The main responsibility of British airways towards creditors is to make timelypayment of debt amount to them. For this British airways can follow a cash managementstrategy under which it will do adjustment in its cash inflow and outflow. By doing samefirm will make sure that debt will be paid to creditors on time.Employee’s- British airways responsibility towards its employee’s is to do properappraisal of their performance and accordingly give an increment to them (López-Gamero, M.D., Molina-Azorín, J.F. and Claver-Cortés, E., 2011). In this regard topmanagement of British airways can use three 360 degree feedback systems in order tocollect data from all employees. In this analysis data regarding employee’s performance

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