Business Environment of Organization
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Added on 2019-12-03
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Business Environment TABLE OF CONTENTS INTRODUCTION 1 TASK 11 1.1 Types of organization and vision, mission, goals and objectives of the organization 1 1.2 The different stakeholders of a business and how organization attempt to meet the objectives 2 1.3 The various responsibilities of the organization and strategies to meet them 3 TASK 23 2.1 The economic systems and their attempttoallocateresources effectively 3 2.2 Impact of fiscal and monetary policies on organization and the country 5 2.3 Impact of competition policy stakeholders and other regulatory mechanism on
Business Environment of Organization
Added on 2019-12-03
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Business Environment
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Types of organization and vision, mission, goals and objectives of the organization.....11.2 The different stakeholders of a business and how organization attempt to meet theobjectives................................................................................................................................21.3 The various responsibilities of the organization and strategies to meet them..................3TASK 2............................................................................................................................................32.1 The economic systems and their attempt to allocate resources effectively......................32.2 Impact of fiscal and monetary policies on organization and the country.........................52.3 Impact of competition policy and other regulatory mechanism on the organizationalactivities..................................................................................................................................6TASK 3............................................................................................................................................63.1 Market structures of hospitality industry that make impact on determining the prices andother decisions........................................................................................................................63.2 Market forces that shapes the short term and long term organizational responses..........73.3 The business and cultural environment shapes the behavior of organization..................8TASK 4............................................................................................................................................94.1 Significance of international trade in UK business organization.....................................94.2 Impact of global factors on the UK business organizations.............................................94.3 Impact of the policies of the European Union on businesses in UK..............................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONBusiness environment is consist of all internal and external factors which make impact onthe operations of organization such as, workforce, consumers, stakeholders, supply and demandsof the services and products as well (Hill, 2008). This report is based on a case scenario ofMarriott International Inc. which is an American wide-ranging hospitality organization. Thisreport outlines the organizational purposes of businesses and the nature of the nationalenvironment in which businesses are operated along with the behavior of organizations in themarket environment with significance of global factors that shape national business activities. TASK 11.1 Types of organization and vision, mission, goals and objectives of the organizationThe different types of business organizations in UK are categorized. These are as follows,Public: Public organizations are owned and controlled by the government for businesspurpose. Such as, Marriott International Inc. and Hilton Worldwide etc.Private: The private sector organizations are established for profit businesses which isowned privately without involvement of government. Charitable: The charitable organizations refers to non profit organizations. Which iscreated for social well being such as, education, health care, religious and other activitiesserved for public interest. i.e. NHS.Partnership: partnership organizations are the business in which two or more partners areinvolved for operate business. All the partners are equally responsible for debts, liabilityand profits from the business (Kotler, Bowen and Makens, 2006). Vision, Mission, goals and objectives of Marriott International Inc. are as follows,Vision: The vision of Marriott International Inc. is to provide perform outstandingly wellfor their customers, development of sense of loyalty with customers and subordinates andestablishing a loving relationship that possibly goes beyond and provide a scope ofmonetary interaction.Mission: The mission statement of Marriott is to pursue excellence with their dedicationto customer, take care of subordinates and they will take care of customers effectivelyand to act with integrity (Maclean, 2006).1
Goals: The goals of cited organization is to reduce energy and water consumption by20% before 2020. The firm is empowering its hotel development partners to build greenhotels and to provide effective customers services to converse and retain them.Objectives: The objective of Marriott International Inc. is to support and respect theprotection of human rights within the organization's domain of power. Moreover, thefirm's long term objective is a commitment for providing employees healthy workenvironment by which they can provide effective customer services (Shafer, Smith andLinder, 2005).1.2 The different stakeholders of a business and how organization attempt to meet the objectivesStakeholders in the organizations plays significant role, they directly make impact onorganization's operations, objectives and policies. The Different type of stake holders in MarriottInternational and their objectives are as follows,Directors: The directors of the Marriott are important stakeholders. They invest capital inbusiness and gain profits from it. Their objective in organization is to gain profits andgrow the business. However, Marriott provides efficient customers services to increasethe profitability which helps to meet directors objective in the firm.Employees: Employees as a stake holders provide their efforts and time to make aprofitable business. Their objective is to get job security, job satisfaction and sufficientpayment for their services (Teece, 2010).Customers: Customers are the people who buy the services from the Marriott. Theirobjective is to get safe and reliable services which gives value to their money.Suppliers: Suppliers in the firm provides the products that can be utilized by theorganization to serve their customers. Their objective for their contribution inorganization is to get more business and profits.Government: The government plays crucial role as a stake holder which manages theeconomy. The government charges duties and taxes to the business and analyze thebusiness in the state and country. However, the objective of Government in organizationis to establish successful business in country's which contributes to economy andemployment (Ruff, 2006).However, to meet the objectives of these stakeholders of the organization the firm has toimprove the services and increase the productivity and profitability of the organization. Thereby,2
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