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Ripley Electronics (RE) - A Company Producing Computer Parts for the Industry

   

Added on  2020-01-28

10 Pages4627 Words298 Views
Business Environment1

Business environment is the combination of all internal and external factors that can influencethe various operations and working conditions. The external factors and internal factors of businessenvironment can influence each other and work together to have an effect on an organization (BusinessEnvironment, 2016). Ripley Electronics (RE) is a company which produces computer parts for theindustry in the United Kingdom and the European Union. The organization is public limited companywhich is founded by Tom Ripley. The current essay is indicating various aspects of the businessenvironment such as organizational purpose of businesses, nature of the national environment, etc.Furthermore, it also discusses organizational behaviour in the market environment and dealing with theglobal factors which forms the national business activities. SECTION 1The purposes of different types of organisations like REAn organisation is a formal structure of partnerships, responsibilities and authorities throughwhich collective goals are to be achieved. There are different types of organisations that arecategorized into three types. Classification can be as private sector, public sector and non profitorganisations (Bekaert and et.al., 2013). Private Sector organizations are business firms which areowned and controlled by the private individuals, not by the government. It usually formed to makeprofits for its shareholders and stakeholders. For example, Brakes Group is a private company of afood service industry which deals with food, drink and other products. The main purpose of thiscompany is to expand their business globally as well as to increase their profitability.Public Sector is an organisation which is owned, controlled and monitored by the government.The aim of this sector is to provide public services and benefits to the society. For example: RipleyElectronics which is a public limited company of a computer industry produces computer parts for theorganisation. The main purpose of RE organization is to benefit all the society rather than justindividual who uses the service (Beaumont, WHITAKER and PEDERSEN., 2013). The last is non-profit organisations which deal in the social cause. For example, main purposes of NGOs, like Actionfor Children, is work and meet the need of people rather than making profit for organisation. It uses itssurplus revenues in achieving its purpose and mission rather than distributing profits as dividends. The objectives of different stakeholders in public limited companyStakeholder is a person, group, organization, who is affected by an organization's actions orcourse of actions. To perform good project management activities, the business enterprises need tomanage and meet stakeholder’s expectations and demands. Firstly, stakeholders are the owners in RE2

and their objectives will be to increase the profits as well as the value of their business. Owners are thestakeholders of the company who have set up the business to make it successful. Secondly, thestakeholders are customers who want superiority for money that involves offering of the highestquality products at a competitive price from the company. In return, RE provides good products to theircustomers at a fair price (Chandel and Sharma, 2014). Thirdly, the employee’s stake is that theorganisation provides them with an employment. Their objectives include sureness of employment,reward for their better performance in the form of promotions or in hike in salary and improvementopportunities. RE meets these objectives by giving promotions and security of the job to theiremployees.Fourthly, the stakeholders are suppliers who want to feel like valued for the organization andRE should fulfil their objectives like frequent orders with timely payments. To pay the money on timeat this extent, RE meets the objectives of their suppliers. Fifthly, Trade Union who also comes understakeholders and desires to secure higher wages and better working conditions for groups of workerswho are the members of the trade union (Sena Ferreira and et.al., 2012.). Lastly, the stakeholders aregovernment who wants from the organisation to be successful in creating jobs for the people and to paytaxes to the government. RE is fulfilling the objectives of different stakeholders by meeting their needsand requirements and in return, they are contributing themselves through different aspects to make theorganisation successful. The responsibilities and strategies of an organisation to meet the objectives of its many stakeholdersThe responsibilities of an organization are to meet the objectives of its stakeholders and haveexpectations from the company that they require the organization to accomplish them. Employees havesome expectations from the organization. They have to pay their salaries and bonuses on time while thegovernment expectation from the firm is to pay its taxes. The management should also maintainexternal and internal factors such as legislation policies and economic uncertainty that have a directeffect on a firm's existence. The stakeholders evaluate the organizations for their actions and clarifytheir transactions with respect to society's ethics and customs (Popescu, 2013). RE should also checkthat it maintains standards in business operations which contribute to the organization's success whilealso contribute positively to the welfare of the society and country’s economy. For example: CorporateSocial Responsibility (CSR) is an organization's moral responsibility towards different stakeholderswho are affected directly or indirectly by the business operations. Ripley Electronics can adopt anarrow or a broad stance on social responsibility.The strategies of an organisation are to meet the objectives of its many stakeholders. They canextend from the development of Strategic alliances to processing and conveyance special in-housetraining for customer service. These strategies are usually very useful for the organisation which gives3

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