Impact of Fiscal & Monetary Policy on the Business
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Added on 2021-08-10
Impact of Fiscal & Monetary Policy on the Business
Added on 2021-08-10
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Business Environment
Table of Contents INTRODUCTION............................................................................................................................................1 TASK 1........................................................................................................................................................1 1.1 Identify the purpose of different types of organizations.....................................................................1 1.2 The extent to which organization meets stakeholders’ expectations..................................................2 TASK 2........................................................................................................................................................3 2.1 Nature of UK economic system and how it affects Jamie Oliver.......................................................3 2.2 Impact of fiscal and monetary policy on the business........................................................................4 2.3 Impact of competition policy and other regulatory mechanisms........................................................4 TASK 3........................................................................................................................................................5 3.1 How market structures determines pricing and production decisions................................................5 3.2 How market forces influence organization’s response.......................................................................6 3.3 Business and cultural environment of Jamie Oliver...........................................................................6 TASK 4........................................................................................................................................................7 4.1 Significance of international trade on UK business organizations.....................................................7 4.2 Impact of global factors on UK businesses........................................................................................7 4.3 Impact of European Union policies on UK businesses......................................................................8 CONCLUSION...............................................................................................................................................8 REFERENCES............................................................................................................................................9
INTRODUCTION The research pertaining to business environment has an instrumental role in present time’s competitive world. The environment within which a company operates highly influences its business activities. The current paper is centered on the case study of Jamie Oliver and examines its business environment together with identifying the expectations and demands of its different stakeholders. Jamie Oliver is a famous restaurant chain of London. It has 15 outlets in the city of London alone. The primary objective of this restaurant is to serve fresh and premium quality food to all the guests. The restaurant ensures focusing on little things to make huge difference and set its distinctive status among the competitors. In addition to this, the market structure and economic system in which the company operates has also been evaluated coupled with discussing the impact of the trade regulations on the operations of the restaurant. TASK 1 1.1 Accomplishment of all the objectives is the most vital target for any organization. This leads a company to generate revenues as well as earn profits and gains. There are various kinds of organizations operating in the market such corporation, governmental, international and partnership organizations. The different kind of structure has different kind of purpose. Hybrid organizations have characteristics of both private and public organization and these develop various marketing activities. Private companies are run by family business and all operations are controlled and undertaken within the family (Cleaver, 2013). Government organizations are run by government and company runs under government rules, regulations and policies. The purpose of differentiating these organizations is to differentiate between business style and functions. To define the company’s purpose it is essential to recognize the input and output process of organization. Jamie Oliver is a well-known experience in the food and beverage industry. This restaurant is owned by Jamie Oliver who is an English chef restaurateur known for his different food focused television shows (Kurtzman, 2009) In London there are different outlets of this restaurant and finest restaurant under his name. They cook elegant, rustic and super skilled food. 1
MISSION: The mission of Jamie is to become the best restaurant with help of best taste and incredible architecture. VISION: Vision is to improve life of people with better knowledge of food. It envisions making big difference by giving focus on little things and connecting with people through good food Short term objectives: The short term objective is to capture market share by providing good and testy food as well as provide high class services. Jamie wants to make a team with of high performing people and dedicated people from different background that comes together. Long term objective: To sustain into market a company should have a sound long term objective. Jamie wants to satisfy their corporate customers through high quality, tasty and fresh food. 1.2 Stakeholders are the most integral component of every industry and it is important for organization to satisfy the expectations and demands of all its stakeholders. The many stakeholders of Jamie Oliver include customers, shareholders, employees, government and the society. All these stakeholder groups have different set of expectations from the company. Jamie Oliver being a very renowned restaurant chain experiences huge expectations from all its stakeholders (Moxham, 2010). Customers are the lifeline of the restaurant, who make or break its image. They expect to receive high quality food and services without any mistake. The restaurant employs a number of people in different positions such as waiters, chefs, floor manager etc. Every employee is assigned with a different set of duties and responsibilities that they need to fulfill. In exchange of this they expect their employer to provide good growth opportunities and a healthy and fair work environment. The management team of the organization is accountable to motivate the employees by handing out appraisals and incentives from time to time. Apart from these, government has an influential role to play in the overall functioning of the restaurant. The organization has to abide by the different laws and legislations set out by the government or it may face notice or ban. The restaurant has to maintain good relationship with the government officials to ensure a smooth functioning. As far as the society is concerned, the 2
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