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BUSINESS ENVIRONMENT TABLE OF CONTENTS INTRODUCTION 1 TASK 11

   

Added on  2019-12-03

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BUSINESSENVIRONMENT

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Different types of business organization..........................................................................11.2 Key stakeholders of corporate and meeting their objectives............................................21.3 Accomplishing responsibilities of stakeholders...............................................................32.1 Economic system attempting to allocate resources..........................................................42.2 Impact of fiscal and monetary policy on enterprise.........................................................52.3 Impact of competition policy and regulatory mechanism................................................5TASK 2............................................................................................................................................63.1 Market structures determining pricing and output decisions...........................................63.2 Ways in which market forces shapes organizational responses.......................................73.3 Business and cultural environments of BA......................................................................84.1 Significance of international trade to BA.........................................................................84.2 Impact of global factors on BA........................................................................................94.3 Impact of European Union on BA....................................................................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11

INTRODUCTION Business environment can be defined as all the internal and external forces which affectthe functioning of business including employees, customers, demand and supply, improvementin technology, laws and government activities etc. In this context, this present report is based onBritish Airways (BA) which is UK's largest airline service on the basis of fleet size. Organizationoperates its business in various parts of the world and it has also developed unique feature ofcargo services in order to increase their profits and productivity. This present report focuses onhow organization is able to meet the needs of their potential stakeholders and what strategiesmentioned company need to employ in order to achieve them. Further, this report discusses onthe impact of fiscal, monetary and competition policy as well as it stresses on also themechanisms which is opted by mentioned company. TASK 11.1 Different types of business organization Business organizations vary from one another as they have their own plans, policies,strategies and functioning to achieve their goals and objectives. In this context, for having acompetitive advantage, corporate has to make prepare different strategies for different marketsegments (Madura, 2006). These different types of organizations are bifurcated below:Sole trader- This activity is most common business activity in UK where a single vendorperforms wide range of activities. Moreover, these sole traders offer quality of services totheir large customer base and are quite sensitive in satisfying their needs and demands.This is because they are quite closer to customers and understand their perception. Mainadvantage of these types of firms is that traders have a total control over their businessand they keep all the profits. These businesses are also quite cheap to start.Franchising- In UK, half of the retail corporate are operating their business activitiesthrough franchising system (Rios, McConnell and Brue, 2013). Franchising is becomingincreasingly popular in UK. Under this system, a franchise gives permission to sale theirproduct and trade under a particular name for that area. Franchisee gets benefits as theyare operating under a well-known company brand and they enjoy monopoly of thatcorporate. Example of it is McDonald's which world’s largest fast food company whichhas outlets under franchising organization.1

Private Company-It is a non- public sector company which is operated by couple ofindividuals. Moreover, the aim and objective of private organizations is to maximize theirprofit by extending their business ventures by reducing the cost of their product andservice (Zhu and et.al., 2012).Public Company- Companies which are listed with minimum share capital and issuesfresh shares to public are known as public limited companies. In relation to this,organizations have to get registered under Companies Act, 1980 and these organizationshave more advantages as compared to private companies. British Airways comes underthis head.Organization missionVision- To be world's most responsible and reliable airline, BA wants their customers tofeel safe and confident. Further, their mission is to satisfy their passenger’s needs byproviding them with best of the services at low cost.Mission- Mission is to provide them sustainable employment for current employees andnew human resource. Further, mentioned company aim is to make their establishment inmajor metropolitan cities of different countries.Short term objectives- Corporate is focusing on providing excellent qualities of productand services so that it will help them to increase their profitability and shares in themarket (Our Strategies and Objectives. 2010).Long term objectives-- Cited Company is working with suppliers and customers todevelop a healthy sustainable business and also they are making sure that organizationdoes not impact the environment relating to air, noise, garbage waste etc. 1.2 Key stakeholders of corporate and meeting their objectives Stakeholders play a crucial role in development of a company. BA has a large number ofstakeholders and these stakeholders have different expectations from the corporate. BritishAirways have to satisfy their needs and demands to improve their goodwill and profits. BAstakeholders are:Shareholders- British Airways is a public limited company and hence; it accepts depositsfrom the public through initial public offer. Those individual who has invested theirvaluable money in BA becomes shareholders for the company (Mysiak, Giupponi andRosato, 2005). Moreover, objective of BA is to give them productive return on their2

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