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Assignment On Characteristics Of Business Environment

Added on - 11 Feb 2020

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BUSINESS ENVIRONMENT
Table of ContentsINTRODUCTION......................................................................................................................1TASK 1......................................................................................................................................11.1 Types of organisations and their purpose.........................................................................11.2 Extent to which Primark meets the objectives of different stakeholders.........................21.3 Responsibilities of Primark and strategies employed to meet them.................................3TASK 2......................................................................................................................................42.1Explain how economic systems attempt to effectively allocate the resources.................42.2 Impact of fiscal and monetary policy on the businesses..................................................62.3 Evaluate the impact of competition policy and other regulatory mechanisms on theorganization............................................................................................................................7TASK 3......................................................................................................................................83.1 How pricing and output decisions of businesses is determined in the different marketstructures.................................................................................................................................83.2 Illustrate the way in which market forces (demand and supply) shape organisationalresponses using a range of examples......................................................................................93.3 Judge how the business and cultural environments shape the behaviour of a selectedorganisation..........................................................................................................................11TASK 4....................................................................................................................................114.1 Discuss the significance of international trade to UK business organisations...............114.2 Analyse the impact of global factors on UK business organisations.............................124.3 Evaluate the impact of policies of the European Union on UK business organisations13CONCLUSION........................................................................................................................14REFERENCES.........................................................................................................................15
Table of FiguresFigure 1: Key stakeholders of the company...............................................................................2Figure 2: Primark main responsibilities.....................................................................................3Figure 3: Common types of economic system...........................................................................5Figure 4: Demand curve...........................................................................................................10Figure 5: Supply curve.............................................................................................................10
INTRODUCTIONBusiness environment is referred to the whole surrounding of the business, which affectits behaviour and functioning. It consists of external and internal environment where thebusiness performs its activities and operates. Here, the report is briefing about severalcharacteristics of business environment that results in the business behaviour changesaccordingly. To understand the concept adequately the types and purpose of differentbusiness firms are discussed along with the key stakeholders of organisations and themanagement responsibilities towards them. Also, the paper is elaborating how demand andsupply forces influence the business and pricing decisions. The overall environment of thebusiness is developed through global factors, which includes the influences of EU legislationas well that has been discussed at the end section of the report.TASK 11.1 Types of organisations and their purposePrimark being a subsidiary of Associated British Foods group undertakes its businessaround Europe, Ireland and UK and is known as a public limited organisation. These types ofcompanies purpose is to increase the investor’s capital and deliver maximum returns toshareholders along with the quality products to the buyers. The Primark as a public limitedfirm offers less liability to the business management and owners and thus, reduce their degreeof risk associated with the company and its performance. Furthermore, the organisation cansell its shares to public by public exchange and stock (Akrani, 2013).On the other side, the charity firms are considered as the non-profit businesses that aremainly focused their activities on improving the society’s well-being and operate with apurpose of offering social services to the needy people of the community. One such type oforganisation is NSPCC, which operate in the UK for the children benefits. The organisationsupports the families and parents by counselling activities to safeguard their children. NSPCCworks around the UK and also runs 40 service centres. The main purpose of the company isto support parents and children with the problem connected to mental illness (Alexander andDoherty, 2009). The main objectives of the organisation are as follows:To write a safeguard policy in relation to disabled children security;To fight for the abuse of children;To fight against the sexual exploitation of children;To aware the society to safeguard the children interest;1
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