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Report on Business Environment British Airways (BA)
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Added on 2019-12-03
Report on Business Environment British Airways (BA)
Added on 2019-12-03
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TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Different business organizations......................................................................................11.2 Key stakeholders of British Airways and meeting their objectives.................................21.3 Accomplishing responsibilities of different stakeholders................................................32.1 Economic system attempting to allocate resources..........................................................42.2 Impact of fiscal and monetary policy on BA....................................................................52.3 Impact of competition policy and regulatory mechanism on BA.....................................6TASK 2............................................................................................................................................73.1 Market structures determining pricing and output decisions for BA...............................73.2 Different ways in which market forces shape organizational responses..........................73.3 Business and cultural environment of BA........................................................................84.1 Significance of international trade to BA.........................................................................94.2 Impact of global factors on BA........................................................................................94.3 Impact of European Union on BA..................................................................................10CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................111
INTRODUCTIONBusiness environment is considered as all internal and external forces which majorlyaffect the functioning of business organization. It consists of internal environment factors wherebusiness is affected by its own policies, rules and regulations. Further, it has externalenvironment which significantly affects the business organization from outside (Stonehouse andet.al., 2009). In this context, this present report is based on British Airways (BA) which is UK'slargest airline on the basis of fleet size. Organization has started a unique feature of cargo servicewhich will increase more of its revenue and productivity. This present report will focus ondifferent stakeholders of British Airways and the way in which they respond to satisfy thecustomer’s needs and wants. Further, this report will focus on the impact of fiscal and monetarypolicy and the way they affect operations and functions of mentioned company.TASK 11.1 Different business organizations 2
Organization is considered as a social unit of employees which is generally structuredand managed to meet the needs of enterprise to achieve their goals and objectives. Further,organizations having management structure that evaluates the relationships between the differentactivities and the members, responsibilities and authority to carry out different tasks withinbusiness organization. Each and every organization has their own plans, policies, rules andregulations and this helps them to achieve their corporate goals and objectives. There aredifferent types of organizations which are explained as below:Sole Proprietorship firm-Sole proprietor firm consists of a single person who generallyperforms all the business activities. Further, these sole proprietors have low startup costsalong with the low operational overhead. In UK, these sole proprietors are considered asthe leaders of market as they perform a wide range of activities in order to satisfy thecustomer’s demand (Zhu and et.al., 2012). Advantage of this type of organization is thatthey have the total control over business regulations and also keep all the profits.Franchisee- In this type of firm, franchises gives permission to sale their products andservices and also trades them under a particular name. One who has taken franchisee getsbenefits as they are working and operating under a well renounced company’s brand.Moreover, half of the retail corporate in UK is operating their business activities throughfranchisee system only. Public Limited Company- For being a public limited company, organization has to getregistered under Companies Act, 1980. These firms have to get registered with aminimum share capital and need to issue new shares to the public. These types ofcompanies have more advantage than private limited company. British Airways is a partof this segment.Private Limited Company- Private limited company is the one which is operated bycouple of individuals (Adler and Gundersen, 2007). Further, these organizations aim atmaximizing their profits by extending their business ventures by reducing the cost oftheir products and services. MissionVisionShort term objectivesLong term objectivesTo become world'smost responsible andMaking its healthypresenceinProviding excellentquality and differentEco friendly approachto safeguard and3
reliable airlinedominating countriesof the worldvarieties of food toclientsprotecttheenvironmentTo give travelers thebest facilities withinairlineGivingsustainablejobopportunities to bothexisting as well asnewlyrecruitedemployees Increasing market shareby attracting thestakeholdersIncrease number ofairlines for a majorroute1.2 Key stakeholders of British Airways and meeting their objectives BA has different stakeholders and they have different needs and expectations fromcompany. They play a major role in increasing the brand image and revenue for the corporate.Some of them are stated below:Employees- British Airways is considered as the largest airline in UK as they haveapproximately 44000 employees. These employees know the goodwill of cited companyas they focus on providing productive services. These individuals have expectationsregarding their job security and better remuneration from British Airways. In this context,BA accepts all these points and give them better pay along with different other facilities(Li and Hewitt, 2008). Organization knows that if they take care of their employee's, thenthey will surely take care of their passengers. Shareholder's- Being a plc, British Airways accepts general deposits from public eitherby issuing new shares or by trading existing securities. Individuals who have investedtheir valuable money in organization are considered as the shareholders of company.Further, firm incurs sufficient profit every year so they would give healthy return oncapital through dividends.Customers- Passengers are considered as the asset for aviation industry. In this context,organization considers the needs and wants of travelers and gives the best services totheir travelers (Dreher, 2005). This procedure helps the mentioned company to increasetheir loyal customer base.4
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