(PDF) Business Environment - Assignment
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Added on 2020-01-28
(PDF) Business Environment - Assignment
Added on 2020-01-28
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Business Environment1
TABLE OF CONTENTSINTRODUCTION................................................................................................................................3TASK 1.................................................................................................................................................31.1 Identify the purpose of various organisations............................................................................31.2 Extent to which Iceland Supermarket meets the objectives of different stakeholders..............41.3 Various responsibilities as an organization and strategies it employs to meet them..................5TASK 2.................................................................................................................................................52.1 Different economic systems attempt to allocate resources effectively .....................................52.2 Impact of fiscal and monetary policy........................................................................................62.3 Impact of competition policy and other regulatory mechanism................................................7TASK 3.................................................................................................................................................73.1 Market structure determine the pricing and output decisions of business.................................73.2 Ways in which market forces shapes Iceland supermarket responses.......................................83.3 Business and cultural environments shape the behaviour of Iceland supermarket....................9TASK 4.................................................................................................................................................94.1 Significance of international trade.............................................................................................94.2 Impact of global factors on the organization...........................................................................104.3 Impact of policies of the European union on the Iceland supermarket...................................10CONCLUSION...................................................................................................................................11REFERENCES...................................................................................................................................122
INTRODUCTIONBusiness environment study is considered as a learning that provides enhanced informationregarding various internal and external factors that relates with the business organisation. In thisrespect, it can be said that number of business organisations are facing high competition in currentmarket so with the help of the information regarding diverse internal and external factors the businessfirm can easily design effective strategies (Adhikara, 2002). It is also beneficial for attaining betterinformation regarding market and ensure that business is having optimistic opportunities in order toattain success. In the present report, learning will focus on work culture of Iceland supermarket stores in order tounderstand concept of business environment. It will also emphasize on the ways which can identify thepurpose of different organisations that operate business in diverse environmental conditions. It willalso provide information regarding nature of UK market so that management of Iceland Supermarketcan design strategies in an effective manner. Further, it will also stress on understanding the behaviourof organisation within UK market. Furthermore, it will also focus on the significance of global factorsthat shape national business activities.TASK 11.1 Identify the purpose of various organisationsAs per the structured study of diverse kinds of business organisations, it has been spotted thatthere are number of different purpose behind operational activities of the firms. In other words, it canbe stated that the every business organisation have different objectives and goals as per considerationof nature and market conditions. In order to understand the concept of business environment, it isessential to understand various types of business organisation and their purposes (Alexander, 2003).Some of the organization’s key purpose is to increase the profit margin ratio and meet the key needs oftargeted customers. However, few of organisations have made efforts in developing social aspects andimproving communal factors within surrounding environment. Therefore, the intention of all theorganization is not precisely the same. Moreover, the classification of organisations can be done asprivate, public and governmental (Buthe, 2008). 1. Iceland Supermarket: It has been spotted that the Iceland Supermarket is considered as asubsidiary firm of Associated British Food which is referred as public limited organisation. Companyoperates its business in retail sector and provides number of products such as retail food products. Inthis respect, it can be said that the key purpose of public limited firm is to improve its profit marginratio and wealth of stakeholders by operating various activities in the retail sector (Gellner, 2004).Iceland Supermarket firm also concentrate on corporate social responsibilities accomplishment in order3
to amend social development aspects. 2. KFC: It is referred as private limited firm which is essential part of the company named Yum.It is one of the most famous restaurant firms that provide wide range of product line in order to meetneeds of its targeted customers (Harris, 2002). In addition to this, it can also be said that the keypurpose of KFC is to gain more and more profit as well as to increase the market share. In this regard,company focuses on effective expansion of its operational activities in diverse geographical areas. 3. Transport for London: It is one of the local governmental body organisations which providetransportation services within London. Company performs various activities to enhance experience ofpublic in context to transportation services (Katz, 2007). Key motive behind the services oforganisation is to serve the areas of UK and render better development opportunities to London withthe support of transportation services. 4. Cancer research: It is considered as a voluntary organisation that provides various healthcare services to identify key issue of cancer as well as discover new ways to overcome issues. In regardto organisational purpose, it can be said that organisation work for betterment of cancer patients andprovide them with better cure (Hill, 2008). 1.2 Extent to which Iceland Supermarket meets the objectives of different stakeholdersStakeholders play a key role in success of the organisation so it is necessary for the company tomeet the requirements of stakeholders in order to have effective operational opportunities. In otherwords, it can be said that stakeholders are considered as factors which can impact the overalloperational activities of the business firm (Miller, 2008). In regard to this, it can also be said that thestakeholders of Iceland Supermarket can be classified as customers, suppliers, society, employees, etc. Customers: It has been spotted that the customers are considered as one of the significantstakeholder so it is essential for the firm to meet their key needs. The firm also provides wide range ofproducts and services to customers to gain profit (Nijkamp, 2010). However, the firm is effectivelyfocusing on improving quality of products and services so that user can feel valued. It is also beneficialfor the company as it facilitates in accomplishing customer's needs. Number of standards has also beenset out to improve experience of customer. Employees: These are the individual who are directly involved in the operational activities so itis also essential to meet key needs of employees. In this respect, it can be said that employee’srequirement is to attain better facilities and services which can improve their morale (Kerin, 2002).Company is also continuously focusing on various improvements in its services with an assistance ofindustrial standards. Management is also considering motivational techniques to enhance the morale ofemployees.4
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