Thomson Airlines: A Case Study
Added on 2019-12-03
8 Pages2192 Words272 Views
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Business Environment'Analysis of Thomsonairlines
TABLE OF CONTENTSTable of Contents.................................................................................................................................2Introduction..........................................................................................................................................2TASK 1.................................................................................................................................................3TASK 2.................................................................................................................................................32.1 Explain how economic systems attempt to effectively allocate resources............................32.2 Assess the impact of fiscal and monetary policy on Thomson airlines activities..................32.3 evaluate the impact of 2 macroeconomic policies on Thomson airlines activities................3TASK 3.................................................................................................................................................43.1 Explain 3 different types of market structure and determine the pricing and outputdecisions of Thomson airlines.....................................................................................................43.2 The Thomson airlines behaviour is shaped by market forces...............................................43.3 Judge how Thomson airlines is shaped by the business strategies........................................54.1 Discuss the significance of international trade to Thomson airlines.....................................54.2 Analyze the impact of 2 global factors that impact on Thomson airlines.............................64.3 Evaluate the impact of 2 European Union policies on Thomson airlines..............................6CONCLUSION....................................................................................................................................7REFERENCE.......................................................................................................................................72
INTRODUCTION Business environment refers to a sum total of all the factors that affect the working of anycompany (Belobaba, Barnhart and Odoni, 2009). This includes micro as well as macroenvironmental factors. In this regard, the chosen company for the study is on Thomson AirwaysLimited that has been regarded as one of the largest charter airline which offers scheduled andcharter flights to passengers. It has flights to destinations like Africa, Asia and North America(About us, 2015). Hence the present study has made an attempt to understand the businessenvironment of Thomson airlines. This is related to understanding how it has been able toeffectively allocate resources followed by assessing the impact of policy on organization’sactivities. Focus has further been given on the market and global force that has shaped itspresence followed by analyzing the importance of international trade for its operations. TASK 1 In pptTASK 22.1 Explain how economic systems attempt to effectively allocate resources Different economic systems have got varied processes by which they are able to allocatethe resources in the best possible manner. For example, market economy tries to allocate theresources by having a full right over the production of goods and services (Allgood and Walstad,2013). On the other hand, Command economy carries out resource allocation by making thedecisions with respect to quantity as well as quality of products and services. While in case ofmixed economy, allocation of resources is done through the firms that produce goods andservices. However, rules and regulations are made by government (Lu, 2009). UK has a presencecue of mixed economy hence Thomson airlines allocates resources but on the basis of policyframework of government. 2.2 Assess the impact of fiscal and monetary policy on Thomson airlines activities Fiscal and monetary policies impact the working of Thomson airlines in many ways. Forexample, change in interest rate may lead to rise in fare prices. It may thus affect demand of3
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